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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]
Any person designated as an executor may choose not to administer the estate. In the UK, upon making that choice the designated person may execute a "power reserved" letter, which will allow 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]
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
The executor may still take a commission even if he or she is also a beneficiary of the estate, but many executors waive their right to the statutory fee for one reason or another. Q: Can you be ...
In estate planning, an executor is someone who is charged with settling the estate of a deceased person. When someone writes a will , they can name a person of their choosing to act as executor.
This is another instance of where executor vs. beneficiary rights and responsibilities diverge. If beneficiaries contest a will, the executor is notified by the probate court.