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Why You Need a Will Executor

November 11, 2018 in Uncategorized | MARTIN WREN, P.C. | LEAVE A COMMENT

Estate Planning Lawyer

When deciding the details about your will, you can often feel accomplished and proud that you are setting your family up for success after you pass away. It can bring you great comfort to know that your spouse and children will be taken care of. However, we do not often think about who will be executing your will. Your will executor is imperative once you pass, and they can make sure that your wishes are granted. Attorneys have helped many people create their wills and determine who the perfect executor is. In some cases, you may even wish to have a trusted third party be your executor. It can be very beneficial to have an unbiased executor on your side to ensure your assets are distributed and your beneficiaries receive the property or money they are entitled to in your will.

What If the Person Named As the Executor Chooses Not To Serve?

There are scenarios where the person you have named as your will’s executor chooses not to fulfill these duties. When this happens, the court will appoint someone to step in as the executor. On the other hand, if you named an alternate executor in your will, this person will be asked to step up.

What Does an Executor Do?

An executor is a person named in your will who is given the responsibility to ensure the testator’s (the person who wrote the will) assets, finances, and other requests or fulfilled and distributed once the testator passes. They are often tasked with:

  • Paying taxes or bills on your estate
  • Maintaining your property until it has been settled
  • Ensuring your assets are properly distributed to the people named in your will
  • Going to court when necessary

Are Executors Paid?

Because many executors are a close family member, they will often take on the title of “executor” out of love and respect for the deceased. However, they are entitled to some payment. State law and a probate court can decide how much an executor gets paid.

Are Lawyers Good Resources For Executors?

Lawyers can often be invaluable for executors. Although a lawyer is not required, they can offer much-needed legal advice, lawyers themselves can be executors, or they can help when issues arise with wills. These issues could be family disputes, estate issues, or tax problems. An executor can also decide they do not want to deal with the probate process and turn over that responsibility entirely to one of our attorneys.

Further Concerns

Being given the responsibility of the title “executor” can often be daunting. If you are having concerns about executing a will, one of the best things you can do is get in contact with a trusted wills lawyer St. Peters, Missouri relies on who can ensure that you are going through the process properly and give you the advice you need when you are going through assets and maintaining the property. Additionally, if you decide that you would like to turn over your rights as executor, your attorney can also be of assistance there. Do not hesitate if you are struggling with your new responsibility.

 


 

Thank you to our friends and contributors at Legacy Law Center for their insight into estate planning and will executors.

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