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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.
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death.
A common area where executory contracts are found is US bankruptcy law, where obligations exist for both parties to a contract at the time of a bankruptcy petition.In cases such as this, both the debtor, or the side that is filing for bankruptcy, and counterparty, or the side contracting with the debtor, may have to make further performance.
An executor will make sure estate taxes are calculated, necessary forms are filed, and the corresponding payments are made. They will also assist the attorney with the estate. Additionally, the executor acts as a legal conveyor who designates where the donations will be sent using the information left in bequests, whether they be sent to ...
Although a single document, the joint will is a separate distribution of property by each executor (signatory) and will be treated as such on admission to probate. Mutual wills are any two (or more) wills which are mutually binding, such that following the first death the survivor is constrained in the ability to dispose of the property by the ...
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