If you create a trust as part of your estate plan and are choosing a trustee, the same general attributes should apply. And if you struggle to identify someone in your personal life to serve as an executor or trustee, you can rely on a professional like an attorney or accountant, ...
The executor is responsible for choosing the correct probate procedure if the state offers more than one, and beginning this process also allows them to get legal recognition of their role administering the estate. Learnhow to become executor of an estate with or without a will. ...
How to Go about Choosing Executor for Your EstateNancy Dilley Nancy Dilley
→ Learn how to become executor of the estate without a will 3. Get a tax ID number The estate is its own entity and as such is responsible for its own taxes. That means the estate needs its own taxpayer identification number, which is called an employer identification number (EIN). EIN...
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While it is possible to pick an attorney or accountant, it is more common for the individual to select a trusted family member or friend as their personal representative. This person is termed the executor of an estate. Think of the executor as the captain who steers a will through the som...
Someone who is named executor of a will is responsible for carrying out the wishes of the deceased according to the laws of the state. Overall, he must see that all debts are paid, tax returns are filed and taxes paid and remaining property is distribute
” From identifying your assets and debts and designating beneficiaries to appointing an executor, this guide serves as a roadmap forcreating a will. For the most peace of mind, use this guide in addition to consulting with an estate planning attorney—they can help you decide whether a will...
What if There Is No Executor of the Estate? You can submit a request to the probate court to become the executor of the estate via court order. According to theNew Hampshire Judicial Branch, you'd need to complete a petition for estate administration. If approved to become executor, you'...
If you become an executor, you assume responsibility for wrapping up someone's financial life after she dies. You settle the decedent's debts, pay taxes, manage estate assets and eventually distribute those assets to the heirs. It's often a complicated, difficult job, but the law gives you...