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Difference between revisions of "Introduction to Being an Executor"
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Introduction to Being an Executor (view source)
Revision as of 19:13, 21 July 2015
, 19:13, 21 July 2015→What is an executor
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==What is an executor== | ==What is an executor== | ||
An executor is the person named in a | An executor is the person named in a will to carry out the directions contained in the will. The executor is responsible for settling the person’s affairs after death. The person’s estate passes temporarily to the executor. | ||
The executor locates all of the person’s assets, pays the funeral costs, debts and taxes, and then distributes the remaining money and property according to the instructions in the Will. The executor is accountable to the beneficiaries. For example, the executor must let the beneficiaries know when he or she is applying for probate, and must keep records and give all beneficiaries a final statement of accounts. | The executor locates all of the person’s assets, pays the funeral costs, debts and taxes, and then distributes the remaining money and property according to the instructions in the Will. The executor is accountable to the beneficiaries. For example, the executor must let the beneficiaries know when he or she is applying for probate, and must keep records and give all beneficiaries a final statement of accounts. | ||