Making The Complex
UNDERSTANDABLE

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Understanding the role of an executor

The assets of someone who recently passed away are evaluated and managed by the estate administration. They make sure all debts have been paid before forwarding the assets and transferring them to the rightful heirs. Those who have property being transferred to their name should have an idea about how things work in the estate administration; otherwise, they might face problems during the process.

The assets and property of the deceased person are transferred to another person after probate proceedings have been held. Probate proceedings are held to make sure that the transfer takes place in a smooth manner and there are no further issues. While the proceedings are going on, the state manages the property and makes sure there are no losses because of lack of management. An executor is named to manage the property and make sure it runs smoothly during the probate proceedings.

The executor can be named by the deceased person in their will. In most cases, it is a family member or someone who is part of the property. In case an executor has not been named, the state chooses an executor and asks them to handle the estate until further notice. Usually, a spouse or family member close to the deceased is chosen as an executor. The executor must try to manage the assets and pay off any debts. They hold meetings with all the creditors and make sure all debts are paid accordingly.

If your deceased loved one had assets that need to be transferred, you might want to hire a family attorney to handle the case. The attorney will deal with your case and manage the situation.

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