Duties and Responsibilities Of An Executor Of a Will

An executor is a person/institution who is the legal representative, named in a will or implied as such, to carry out the process of the distribution of the assets of the testator.

1. Criteria to Appoint an Executor

• The executor appointed should be of 18 years of age and also of sound mind.
• Substitute executors shall be appointed in case the original executor denies to fulfil his duties when actual action is warranted.
• The executor appointed may be either a beneficiary to the will or a third person(in case a dispute seems likely).
• It shall be made known to the executor that he/she shall be liable for any errors or mistakes even if the same has been executed in good faith.

2. Duties and Responsibilities of an Executor

• Meeting of funeral expenses from the estate left by the testator.
• Obtaining the death certificate of the testator.
• Interpretation of the will in the right manner and distribution of assets to the correct beneficiary.
• Drawing up an inventory of the assets to be sold or disposed of.
• Expense management for all the properties until the disposal of the same.
• Applying for probate since it is the official evidence of the executor’s authority, where probate is mandated by law.
• The settlement of assets as directed in the will.
• Payment of money that is due from the testator or collecting money due to the testator.
• Maintaining records of all transactions.
• Representing the testator in any legal action(excluding criminal and defamatory matters).

3. Advantages of an Executor

• Beneficiaries shall be ensured of proper handling of the property.
• By appointing a third person as an executor, the family can be relieved of the administrative responsibilities of executing the will.
• If the executor is appointed in time, it shall save time and money and shall prove to be advantageous to the beneficiaries.
• Many cases have been pending in courts due to family disputes which can be avoided by appointing an executor who will be neutral and fair in his dealings.

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