What Are the Duties of an Executor?
The duties of an executor, sometimes called a personal representative, is the person who is named in a will or appointed by the court and is responsible for probating the will and settling the estate. Depending on the state, an executor may work under court supervision or may use so-called “independent” administration for an unsupervised probate.
Typically, a petition of probate must be filed with the court for an executor to be appointed. If the person agrees to be the executor, and no one objects, the court will issue letters of testamentary. These letters authorize the executor to gather the estate’s assets, sell assets, pay creditors, and open an estate bank account. An executor is ultimately responsible for distributing the estate assets to the heirs by the terms of the will. If there is no will, then your executor will distribute assets following state law.
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Distribution of estate assets, in either case, happens only after debts, taxes, and administration expenses are paid. For more information, contact Hudack Law today at (877) 314-4309 Toll-free, please visit areas of service (open link in a new tab) or hudacklaw.com (open link in a new tab).