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, o...
How to Go about Choosing Executor for Your EstateNancy Dilley Nancy Dilley
How to Sign a Check as an Executor of an Estate Image Credit:Devrim_PINAR/iStock/GettyImages Make Your Appointment Official Although the deceased's will might nominate you as executor, your appointment is not official until the probate court has rubber stamped it. Your first task, then, is ...
3. Find a trusted executor for your estate When it comes tochoosing an executoror manager of your estate, it's important to pick someone you trust. This individual will be responsible for ensuring the stipulations in your will are carried out according to your wishes. Look for people close ...
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...
An executor is someone appointed by probate court, or named in the will, who has the responsibility to finalize the financial responsibilities of the deceased’s estate. This may include distributing estate assets to beneficiaries, establishing a checkin
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
Am I the Right Person to Apply for a Patent? In order to successfully obtain a patent, you must: Be the inventor of the idea; or Have been assigned the invention by another person; or Be a legal representative (administrator or executor of the estate) of the deceased inventor; or Be ...
An heir due to receive money or other assets can choose to decline the inheritance through the use ofan inheritance or estate waiver. The waiver is a legal document declining the rights to the inheritance. In such an instance, the executor of the will would then name a newbeneficiaryof the...
9. Evaluate Your Estate Plan Even if your assets are relatively modest, you should have a plan for what would happen to them if you were to die. Review yourwillortrustto ensure you're happy with your choice of executor, trustee, and anyone you've granted power of attorney. ...