Ads
related to: wills and executors duties definition economics dictionary examples
Search results
Results From The WOW.Com Content Network
An executor is a legal term referring to a person named by the maker of a will or nominated by the testator to carry out the instructions of the will. Typically, the executor is the person responsible for offering the will for probate, although it is not required that they fulfill this.
A literary executor is a person acting on behalf of beneficiaries (e.g. family members, a designated charity, a research library or archive) under a deceased author's will. The executor is responsible for entering into contracts with publishers, collecting royalties, maintaining copyrights, and (where appropriate) arranging for the deposit of ...
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.
As an executor, you can be held liable if you make distributions too soon before taxes or creditors are paid. Adhere strictly to the timeline that the law enforces. Your lawyer can help you with this.
An executor is someone who is appointed either through a will or by the court to oversee the probate process. Probate is a legal process in which someone’s assets are inventoried, their ...
A will includes the appointment of an executor or executors. One of their duties is to apply to the Probate Division of the High Court for a grant of probate. [27] [28] An executor can apply to a local probate registry for a grant themselves but most people use a probate practitioner such as a solicitor. If an estate is small, some banks and ...
Upon the death of a person intestate, or of one who left a will without appointing executors, or when the executors appointed by the will cannot or will not act, the Probate Division of the High Court of Justice or the local District Probate Registry will appoint an administrator who performs similar duties to an executor. The court does this ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 19 January 2025. Legal declaration where a person distributes property at death "Last Will" redirects here. For the film, see Last Will (film). This article possibly contains original research. Please improve it by verifying the claims made and adding inline citations. Statements consisting only of ...