The executor would be the person who has been named in the will, which the decedent desired to administer his or her estate. The person who has been named in the will would not be required to accept the position of executor even if he or she has been named in the will. That particular person could also refuse to nominate someone or serve such as a professional fiduciary. In case, there has been no will, an administrator would be appointed by the court. It could be either a relative or a private or public fiduciary, who would be nominated by the beneficiary or the relative. According to Attorney Steven Bliss a Probate Attorney in San Marcos California, an average estate administration would usually take nine to eighteen months.
What is the role of an executor?
The Executor would be required to find documents such as bank statements, title to assets, investment accounts and the Last Will or Testament along with the death certificate. The Court would rely heavily on the prudence of an Executor to cater entire asset listing in the form of Inventory.
Hiring an attorney
The Executor does not need to hire an attorney. However, mistakes could cost huge money. Personal liability would exist provided something goes wrong with the payment of taxes or estate. An attorney for the estate ensures that everything is done properly and in a timely fashion.
Filing probate petition in the court
In case, there has been a will available, the court would grant the executor letters testamentary. In case, there has been no will present, the administrator would receive letters of administration. These letters have been the court orders that encompass official acknowledgement by the court about a specific person being appointed to administer the estate. As and when the letters have been received from the court, this would officially begin the work of executor or administrator. They would also be required to notify the interested parties. For more information, you could hire the best attorneys at the below mentioned address.
100 E. San Marcos Blvd. Suite 400 San Marcos, CA 92069
Phone: (760) 720-3800