Common Questions About Executors and Their Duties

Question 1: What does an executor have to do? Anyone appointed to the position of an executor has to perform a number of tasks as required under the probate code. The executor is responsible for settling a deceased person’s estate, meaning he or she has to find out what the deceased person owned and make sure that it is distributed to new owners and that bona fide creditors are paid. Question 2: What is an estate inventory? One of the executor’s first duties is to marshall and then take an accounting of all the decedent’s property. The executor will have to find out what the decedent owned and list it in an Inventory document that is submitted to the court. The inventory lists all assets owned by the decedent, as well as their values. The executor cannot sell or transfer any of the property to new owners until he or she knows exactly what the estate contains. Question 3: What about the personal representative and estate administrators? In California, an executor is someone wh
http://www.norcalplanners.com/blog/estate-planning/probate/common-questions-california-executors-duties/

Advertisements
Standard

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s