People who use a last will for their estate plan should be aware of the process of probate and the role of the executor. Probate is a court supervised process to ensure that creditors of an estate are paid and to facilitate the distribution of an estate to the decedent's designated beneficiaries or heirs. During this legal process the court will determine the validity of the will, hear any challenges that may be presented and supervise the administration of the estate. When you work with an … [Read more...] about Probate & the Role of the Executor
In many cases, you will know if someone has nominated you as executor in their Last Will and Testament because they will have discussed the appointment with you. Sometimes, however, a person fails to discuss their plans ahead of time, resulting in a surprise telephone call letting you know that you are appointed as the an executor. If this happens, what do you do? First, don’t panic. A nomination is just that -- a nomination. You are under no legal obligation to accept the position. If you do … [Read more...] about I’ve Been Named Executor of A Will — Now What?