Executor of Estate|What An executor Can and Can't Do скачать в хорошем качестве

Executor of Estate|What An executor Can and Can't Do

Executor of Estate|What An executor Can and Can't Do The executor of an estate has a host of responsibilities from notifying heirs to managing assets. But an executor’s authority isn’t endless. There are limits on what an executor can and cannot do. If you’ve been named an executor, a couple basic rules of thumb are that you can’t do anything that disregards the provisions in the will, and you can’t act against the interests of any of the beneficiaries. Sounds pretty straightforward, right? Sometimes it is. But depending on the complexity of the estate, figuring out the bounds of your role as an executor could be challenging. As an executor, you have a fiduciary duty to the beneficiaries of the estate. That means you must manage the estate as if it were your own, taking care of the assets. So you cannot do anything that intentionally harms the interests of the beneficiaries. As an executor, you cannot: Do anything to carry out the will before the testator passes away Sign an unsigned will on behalf of the deceased Take action to manage the estate prior to being appointed as executor by the court Sell assets for less than fair market value without the agreement of the beneficiaries Change any provisions in a will Stop the beneficiaries or heirs from contesting the will Mismanaging an estate is not without consequences. If an heir or beneficiary believes you are not appropriately fulfilling your legal obligations, they have the right to file a petition with the probate court to get a full accounting of the estate’s assets or to have you removed as the executor. Serious violations could also result in your being held in contempt of court or being the subject of a civil lawsuit. Of course, most individuals who serve as executors take their responsibilities seriously and handle the estate with care. We hope you enjoyed watching our video and found it beneficial! Have any questions regarding real estate? Or know anyone that does? Reach out to us, we're here for YOU. Charlotte Volsch is a real estate broker, certified probate specialist, and trust advisor in the Inland Empire in Southern California. Charlotte began her chapter in real estate in 1999 bringing to it character traits of ethics, integrity, accountability, responsibility, loyalty, respectfulness, compassion, and a humble heart. Charlotte also brings compassion, understanding, and empathy from her work in elder care and with the Alzheimer’s Association. Call or text us: Charlotte Volsch 1 (760) 912-8905 Cecil Volsch 1 (760) 912-8904 AND for exciting, new UPDATES engage with us on our social media sites. Facebook:   / thevolschteam   Twitter:   / thevolschteam   Instagram:   / thevolschteam