What does an executor actually do? In the case of organizing a probate portfolio with a probate attorney in Rockwall, TX , they actually do quite a lot. Can the attorney be the executor? Sure, but it is often someone else. Finding that “someone else” may be where the problems begin.
What Is the Role of an Executor?
An executor, more or less, enacts the organization of the estate by the will. If there is no will, they essentially enact the split of the estate with an attorney and federal regulation and inclusion. The executor has many small roles. At the beginning of the process they need to:
* Post a bond for the estate
* Establish proof of identity and proof that the person can be the executor
* Prove the validity of the will in collaboration with an attorney
* Open an estate account and prepare all necessary documents
* Create a list of creditors
The executor has many other roles within the estate planning. It all begins and ends with the executor, as they determine the speed in which the estate is allocated and ultimately how. If a will is present, they are controlled by its details.
Who Should Be Executor?
It is hard to determine who should be an executor, but there is a general rule. The person should either be intimately involved with the person leaving the estate or essentially a familial stranger. In the former case, it could be a widow of the deceased, a close family member, or someone with an immediate family relation. This strategy is more effective for small estates and small families, for obvious reasons.
The latter approach looks to someone who is distant from the family or legally authorized in the area. This is commonly the probate attorney in Rockwall, TX , but it could also be a family friend, a distant cousin, or someone only distantly related to the family in the discussion. They can offer an unbiased look at the estate.
Visit the website of Jack K. Robinson for more on estate organization and who should be the executor. Either a distant or close approach works comparable to the size of the estate.
