A relative or friend passes away, and you are named in his or her Will to act as Executor.
In our view, being named to act as Executor at such a troubling time is an HONOR, a JOB, and a matter to be taken seriously.
The first thing to realize is that being named to act in such a capacity does not mean that you must act. Rather, being named to act is merely a nomination that you may either accept, or decline to accept.
IF you decline to accept your nomination, it is important that you do so right away by signing a Declination To Act, and then delivering the Declination to the appropriate parties. As a result, we recommend that we meet as soon after the death as is possible.
After reviewing the Will, and any and all Codicils, we will be glad to discuss with you all of the various responsibilities you will be undertaking, as well as the Fiduciary duties you will owe to the Estate beneficiaries, IF you decide to accept your nomination.
Generally, administering a probate Estate requires that you attend to several important matters, some of which are listed here. As you will see, the list of these important matters can seem a bit overwhelming.
However, please remember that you do not have to be an expert in the law in order to act as Executor, as we will be using our 40+ years of experience to guide you throughout the administration of the Estate.
Nor do you have to be an expert in taxes, accounting or investing, as in most instances the Will should authorize you to hire not only an attorney, but also an accountant, an investment advisor, and any other professionals you may need to assist you, and to pay these professionals from the Estate assets.
IF you decide to accept your nomination, we will be pleased to discuss with you how we will represent you in your capacity as Executor.
© 2021 Joseph C. Johnson, P.C.