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In common law jurisdictions, a personal representative or legal personal representative is a person appointed by a court to administer the estate of another person. If the estate being administered is that of a deceased person, the personal representative is either an executor if the deceased person left a will or an administrator of an intestate estate. [1]
An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator. After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly.
Rhonda Griswold, a Cades Schutte law firm partner, joins producer/host Coralie Chun Matayoshi to discuss your fiduciary duties as an Executor or Trustee, things you need to do, notice and ...
The post Personal Representative vs. Executor: Key Differences appeared first on SmartReads by SmartAsset. Personal representatives are tasked with managing estates when people die, either ...
A: Irrespective of whether the executor is paid for his or her work, the executor is held to high standards in many courts, and charges may be brought by beneficiaries if the executor spent estate ...
Any person designated as an executor can choose not to administer the estate. In the UK, upon making that choice the designated person can execute a "power reserved" letter, which allows the person to later act as executor if the person named on the grant of probate is removed or is no longer able to act. [1]
A power of appointment is a term most frequently used in the law of wills to describe the ability of the testator (the person writing the will) to select a person who will be given the authority to dispose of certain property under the will. Although any person can exercise this power at any time during their life, its use is rare outside of a ...
The testator is the person who makes the will and the person on whose behalf an executor acts during probate. If the executor of a will passes away before the testator, then a new one can be named.