Often times, people create an estate plan throughout their life to prepare for what happens to their assets after their death. When this is done, the individual who creates it may assign someone to carry out these plans when the time comes. This person is known as an executor. Their job is to make sure the estate plan is handled the way it was meant to be by the deceased individual. It is an important role that comes with many responsibilities that must be taken care of. If you have been designated as an executor of a will, an experienced Montgomery County attorney can guide you through accurately completing these tasks.
What is the Job of an Executor?
The executor’s responsibilities begin when the individual who created the estate plan passes away. This individual must manage the deceased’s estate and assets until all their tasks are finished. The first job of an executor is to bring the will in the estate plan to the Surrogate Court in which the deceased lived. Once this is done, the process of probate can begin. It is during this time that the court works to determine the validity of the will. If it is approved, the next step of the executor is to handle any finances. This can include outstanding payments or taxes that must be paid off. The executor may benefit from enlisting an attorney or accountant during this time to ensure the payments are made correctly.
After the executor completes these, they can begin to handle one of the most important parts of an estate plan. This requires them to distribute the assets within the estate to their designated beneficiaries. It is important to know that there are some cases in which a beneficiary may contest the content of a will and challenge its validity. When this happens, the executor must clear up these issues.
Choosing an Executor
When a person is looking to choose a person to execute their estate plan, it is crucial to choose a person that can be trusted to do so. Handling an estate is a large responsibility and can often be overwhelming. The person is left to carry out the deceased’s final wishes. It is because of this that they should be dependable and do the job to the best of their ability.
It is possible for an executor to be removed from their position. This can happen if they are not doing their job properly. For example, if they are not acting in the best interest of the deceased and their estate by handling it negligently. When this happens, a motion can be filed to remove the individual from the executor role. A judge can either approve or deny this motion. If the individual is removed, the judge can replace them with a new executor to finish any unfinished tasks.
Contact our Firm
Friedman Schuman is an experienced and dedicated legal resource for clients throughout Pennsylvania. We proudly serve clients facing a wide range of legal matters. If you require the services of an effective attorney, please contact Friedman Schuman today to schedule a consultation.