What is Executor?
An executor is another essential term in the case of the last will for an administrator.
An executor: is a person who promotes and verifies the lat will of a deceased person.
He/ she can advise the dead person in this case. The primary duty of the executor is to manage all of the information provided by the deceased person in actual and in real words.
An executor is selected by the person who made the last will. She/he has the responsibilities allotted by the dead person.
An executor may be a lawyer, a close friend, or a close relative and is responsible for the following:
- He is responsible for making and designing the assets of the individual who will die and divide his/ her property according to the will and the wishes of the deceased person.
- He is responsible for clearing the debts of the dead person from the assets.
- An executor is responsible for the payment of the taxes in the right and authentic way according to the wishes of the deceased person.
- He is responsible for knowing the names and the share of the individuals to whom he will divide the things and the property.
- He must prepare a hard copy of all documents with the soft copy.
- The executor must establish and hire a person for the care of the Childs and the dependents.
- The funeral arrangement is the primary duty of the executor as well.
- He is responsible for the setting of all of the assets of the deceased person.
- After the context of these matters, the executor can take his part from the property according to the deceased person’s wishes.
The article is about the executor and the executor’s responsibilities, and it is one of the critical cases and terms that must be known by every one of you to learn and apply in your daily life according to the world.
After processing all of the requirements mentioned above, the executor is responsible for submitting the final document.
The selection of the executor is totally and utterly dependent on the deceased person.
That’s all about the executor. If you are looking for a question further, feel free to ask at any time. We are here to serve you.
Read the next topic in “Last Will” and “Testament” Encyclopedia: Ethical Will.
Read the previous topic in “Last Will” and “Testament” Encyclopedia: Estate.
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