10 Things to Think About Regarding an Executor
There are many considerations to be made when either appointing an Executor in a Will or obtaining an appointment as an Executor. There are many valid reasons why a named Executor in a Last Will and Testament may not want to accept the appointment. On the other hand, there are many reasons (both legal and personal) why a person may want to not nominate a particular person as the Executor.
Below is a list of the 10 most popular questions I have received from clients.
1. How do you qualify as an Executor?
2. Can you decline your right to qualify as an Executor if you were appointed?
3. Who cannot qualify even if you have been appointed as an Executor?
4. What happens if the named Executor dies or if the appointed Executor dies?
5. What is the time frame to apply to become appointed as the Executor?
6. Where does a potential executor apply for the appointment? What County? What office?
7. What does the potential executor have to include in the initial Application to the Clerk?
8. What are the filing fees to obtain the appointment?
9. Does the Executor have to notify the potential beneficiaries or does the Clerk?
10. How long is the Executor’s appointed for?
It is always best to consult with an attorney whether you are ready to create your Estate Plan or if you have been appointed. It is pointless to appoint someone that may not be permitted to act or may not want to act for various reasons. It is better to be aware of it now so that there are little to no appointment issues later.