How Executor of Estate Duties Is Helpful

A person appointed to carry out a decedent's final will and testament is known as the executor of estate duties. The executor's main duty is to carry out the decedent's desires and instructions for handling their affairs. In the absence of a prior appointment, the testator the person who drafts the will, or the court will choose the executor. Although many people consider being chosen as an executor to be an honor, the tasks necessary can be difficult and time-consuming. Knowing them will ensure that every decision you make is informed and will enable you to choose the best candidate to act as your executor.

Finding and gathering the estate's assets, safeguarding and investing them while they wait to be distributed to beneficiaries, paying off debts and liabilities owed by the estate, filing the necessary living trust inheritance tax for the decedent and the estate, and finally distributing the estate's assets to beneficiaries in accordance with the terms of the Will are all tasks that fall under the purview of an executor.

Recognizing the Will

An executor shall exercise reasonable diligence in locating the last Will of the Deceased. Even when a Will has been found, it must be verified that it is the most recent one created by searching all the places where the deceased kept their papers and records including, under the laws of some provinces, on technical equipment.

If just a copy of the will is found, the executor should ask the will's draftsperson, if they are known, where the original will is kept. If a trust company is named as the executor, contact it to inquire about whether it is in possession of the original Will or is aware of its whereabouts. It also requires a check of the Division Wills Registry. The Will Search Certificate produced in response will make it obvious if a Will Notice has ever been submitted by the deceased. If so, the Notice will provide the date, time, and location of the original Will.