Monday, November 29
Law

Is it Worth it to Appoint an Executor?

Google+ Pinterest LinkedIn Tumblr +

In this article we want to talk about the figure of the executor of the will. Surely in some conversation you have heard this term and you have stayed the same as you were. Before going into detail about this figure, clarify that we as lawyers have the responsibility to advise our clients in the best way, so we recommend that you make a will as soon as possible. You would save your loved ones unnecessary headaches if you consult a Texas probate attorney.

Now, read on to discover the importance of the executor when making a will and if he meets your needs.

What is an Executor of the Will?

When making the will, the testator has the possibility of appointing one or more people he trusts to execute his will, these are called executors. Tell you that it is a voluntary position so it must be accepted and the duration of the position of executor is the one established by the testator, although if it has not been determined it will be one year.

Who can be the Executor of the Will?

We must bear in mind that a person who does not have the capacity to be bound, that is, who has the capacity to contract obligations, may not be an executor. It is important to note that the position of executor is very personal, that is, the fulfillment of his function cannot be delegated to third parties, unless the testator has authorized him to do so. Want to get more info? A Houston probate attorney can give you more info.

5 Things to Consider Before Becoming an Estate Executor

What is the Executor’s Role?

It has the functions entrusted to it by the testator in the will, provided they are not contrary to the Law, such as:

  • Arrange and pay the suffrages, the funeral of the testator in accordance with the provisions of the testament by him and, failing that, according to the custom of the people.
  • Pay bequests that are in money, with the knowledge and approval of the heirs.
  • Monitor the execution of what the will says.
  • Take the necessary precautions for the conservation and custody of the goods.

What Fees Does an Executor Charge?

Although the position of executor is free, the testator may determine a remuneration for him. In his case, upon termination of his functions, the executor must render accounts to the heirs or if they had been appointed, not to deliver the assets to specific heirs, but to give them the investment or distribution that the testator would have provided in the cases permitted by law.

They will render their accounts to the Judge.

When is it Really Important to Include an Executor in Our Will?

We consider that it is highly recommended to include a testamentary executor in those cases in which the assets to be distributed present some difficulty both by nature and by quantity, or because we want to ensure that our strict will is fulfilled. And, above all, when conflicts are foreseen between the heirs and legatees regarding the interpretation and execution of the testamentary will.

Share.

About Author

Comments are closed.