Losing a loved one is already difficult enough. But if you have been named as the executor of the estate, dealing with your grief and organizing a funeral is only the beginning. You also need to administer the estate, which means going through the process of verifying the will and distributing it as appropriate. Here are five potential issues that may arise during the process of estate administration: Continue reading “Five Potential Issues That Can Arise During Estate Administration”
Tag: estate administration
New Executor Nomination Form Explicitly Requests Criminal History
While a testator has the ability to name anyone as his or her executor, there are certain grounds for disqualification. According to the Surrogate’s Court Procedure Act § 707, a nominated executor is ineligible if he or she is: Continue reading “New Executor Nomination Form Explicitly Requests Criminal History”
Executor’s Compensation Can Be Previously Decided Upon
An executor of an estate is the person named to act on behalf of the decedent. An executor has a fiduciary duty to ensure that the decedent’s wishes for the disposition of property and assets are carried out accordingly. In addition, the executor is responsible for the administrative process of an estate, including paying taxes and creditors. He or she must perform the following duties and responsibilities, among others: Continue reading “Executor’s Compensation Can Be Previously Decided Upon”
