There is a lot that goes into estate planning. Throughoughly planning during your life will make things much easier in the event of your passing. While your estate will be planned out, you will still need someone to be in charge of handling things. This person is called the executor. But, when it comes to estate planning, things do not always go smoothly, and sometimes problems arise. Read on to learn more about what to do in the event that there is no executor of an estate.
What Does an Executor Do?
Executors have a significant role when it comes to handling an estate. Generally, executors are responsible for managing all of your assets and your estate as a whole. Your executor will first have to bring your last will and testament to the surrogate court. Once the probate process begins and your will is deemed valid, your executor will then have to handle any financial obligations of your estate. Typically, this involves making outstanding payments or taxes, usually with the help of an experienced attorney. Your executor will also distribute all the assets within your estate to their corresponding beneficiaries. If a beneficiary contests your will’s validity, your executor is in charge of resolving these issues.
What if no one Wants to be the Executor?
Sometimes, an individual has failed to name an executor. Other times, an executor has been chosen, but this person does not want to step up to the role. This is an extremely important job, and it can be a lot of responsibility, so some people may not want to be the executor. If the person who the deceased selected to serve as executor is not interested in taking on this obligation, the court will not appoint that individual as executor. In the case that there is no backup executor, and no family or friends want to step up to the plate, the court will appoint someone who is appropriate for the job.
If you are the executor of an estate and you no longer want to be the executor, contact our firm to discuss your options. Additionally, if you need help appointing an executor, we are here to walk you through the process.
Contact our Firm
Sometimes, divorce, family, and estate matters are difficult to navigate. Fortunately, they do not have to be with the assistance of a compassionate, knowledgeable attorney who is willing to guide you every step of the way. If you need a seasoned firm to help you with any divorce, family or estate-related matter, please do not hesitate to contact Collis, Griffor & Hendra today to schedule a consultation.
