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EXECUTOR’S (ADMINISTRATOR’S) DUTIESThe
Executor (or Administrator if there is no Will) is known as the personal
representative of the decedent. The
laws of the various states set forth the duties of the Executor both for the
state as well as the beneficiaries. Duties
to the beneficiaries are fiduciary
which means that the personal representative must deal with the assets, his or
her duties and beneficiaries at a standard of care much higher than that of
ordinary care. The
duties of the personal representatives are important, often complex and
regulated by strictly enforced state laws.
There are also duties of the personal representative stated in the Will
which are in addition to those required by law. The
personal representative takes an oath to perform the duties of his/her office
and can be held accountable civilly and possibly criminally for a breach of
those duties. The advice of an
attorney experienced in the administration of estates will safely guide the
personal representative through the estate administration and avoid such
pitfalls. FOR
ADDITIONAL INFORMATION CALL THE TOLL FREE HELP LINE 1-800-232-1477 E-mail: lawyer@lawwalk.com JAMES
W. PEARSON, JR. Chair of the Federal & State Credit Union Department & Coordinator of legal consultations under the Family Legal Care Plans offered to credit union members. |
Send mail to LawInfo@LawWalk.com
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