There are many cases in which people want to plan for what will happen in the event of their death. This makes it easier for their loved ones to be prepared for how to fulfill these wishes. This can be accomplished with the creation of an estate plan. When an estate plan is created, an administrator, also known as an executor, is appointed to carry out these desires. This individual makes sure that the estate plan is taken care of the way it was intended by the deceased individual. This job requires several different responsibilities.
Responsibilities of an Estate Administrator
When an individual passes away, the responsibilities of their estate administrator begin. This requires them to manage the estate by paying certain expenses and distributing the assets. The first job is to submit the deceased’s last will and testament to the Surrogate Court in the county where the deceased lived. This allows the probate process to begin, in which the document is determined to be valid or not. It is important that, if anyone contests the validity of the well, the estate administrator must resolve the issue.
Once the will passes probate, all financial requirements of the state are to be handled, including paying debts and filing any necessary tax returns. After the finances are cared for, the estate administrator must then move on to distributing the assets within the estate to the rightful beneficiaries.
What Happens if the Administrator Does Not Do Their Job?
When an estate administrator is chosen by a person, it is done with the expectation that they will carry out their final wishes. It is because of this that if they fail to do so, an estate administrator can be removed from their role. This may happen the individual does not meet his or her fiduciary responsibilities by neglecting to act in accordance with what is in the deceased or their estate’s best interest. When this happens, a petition can be filed with the court to, as the court has the power to remove an administrator if they fail to perform their duties. A judge can then either approve or deny the motion and appoint a new executor to finish the job.
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