An executor is the person named in a will, as nominated by the testator, who will carry out the instructions of the will.
The executor is responsible for distributing assets of the deceased’s estate as soon as possible. These assets must be preserved and given to the entitled beneficiary as instructed by the will. Not doing so in a correct and timely manner makes it possible for the beneficiaries to take legal action against the executor. An executor is also responsible for dealing with all matters of the estate, such as paying of debts, taxes and funeral costs.
Choosing an executor is a major decision that shouldn’t be taken lightly. A legal professional can act as an executor to ensure that the matter is dealt with objectively and professionally. Contact us for assistance in drafting and executing a will.