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What an executor cannot do
The executor of an estate has a host of responsibilities — from notifying heirs to managing avails. Only an executor's potency isn't endless. There are limits on what an executor tin can and cannot practice.
If you've been named an executor, a couple basic rules of thumb are that you can't do anything that disregards the provisions in the will, and you can't human action against the interests of any of the beneficiaries.
Sounds pretty straightforward, right?
Sometimes it is. But depending on the complexity of the estate, figuring out the bounds of your role every bit an executor could be challenging.
Before we get into the nitty gritty about what you cannot do as an executor, let's make sure you're clear on what you lot can (and sometimes, must) do.
What an executor c an do
As the executor of an estate, you are responsible for managing the probate process , which ways you lot'll exist interacting with the probate court and making decisions about the handling of probate avails.
You will:
- Open up probate with the courtroom
- Place the deceased's assets
- Provide notice to heirs and interested parties
- Manage the administration of the estate
- Pay the deceased's debt from the estate
- Distribute funds or property to the heirs
- Shut the estate
Learn more about the duties of an executor .
Carrying out all these duties means that you can make a lot of the decisions well-nigh what happens with the manor since y'all are managing the deceased's holding and avails until they are distributed to the heirs.
The executor has the final say on a lot of matters. Just, every bit nosotros stated above, there are limits.
What an executor cannot exercise
As an executor, yous have a fiduciary duty to the beneficiaries of the manor. That ways you must manage the manor as if it were your own, taking care with the assets. So an executor can't exercise anything that intentionally harms the interests of the beneficiaries.
As an executor, you cannot:
- Practice anything to carry out the will earlier the testator (the creator of the will) passes away
Neither the executor nor the beneficiaries take any rights with regard to the manor before the testator passes away. Just because you're named in the will doesn't mean you become to start making financial decisions well-nigh how your Aunt May is handling her assets.
- Sign an unsigned will on behalf of the deceased
If the deceased died without a signed will, the deceased died without a will. No one else can sign it on their behalf, and the estate volition be managed in accord with that state'southward laws of intestate succession .
- Take activity to manage the manor prior to being appointed as executor by the court
To fill out the petition for probate, y'all may accept to do some basic assay to determine what's in the estate. Merely taking activeness across that — selling assets or making payments — is not allowed until the court has approved your petition and appointed you as the executor.
- Sell assets for less than off-white market value without understanding of the beneficiaries
Your fiduciary duty requires y'all to care for the estate'southward avails as if they were your own and to take skillful intendance that the beneficiaries receive the portion of the estate indicated in the will. Parting with assets for less than what they're worth — for instance, my offering them at a disbelieve to friends — is in directly opposition to that duty.
- Alter any provisions in a volition
Just similar you can't sign the volition, you lot cannot change whatever provisions in the will. If you actually like your cousin and yous agree with him that he should've been named in the will, that'southward unfortunate. He tin file a petition with the court contesting the volition if he'south an heir-at-police force, but y'all take no potency to make changes to the will.
- Stop the beneficiaries or heirs from battling the will
When beneficiaries or heirs contest the will, it's never fun for the executor. However, information technology's their right to do so, and you can't cease them.
What happens if you mismanage the estate?
Mismanaging an estate is not without consequences. If an heir or beneficiary believes you are non accordingly fulfilling your legal obligations, they accept the right to file a petition with the probate courtroom to get a total accounting of the manor's assets or to have you removed as the executor.
Serious violations could also effect in your being held in contempt of courtroom or existence the subject of a civil lawsuit.
Of course, most individuals who serve as executors take their responsibilities seriously and handle the estate with care.
See : How to deal with family unit members when you are executor of an manor
Knowing what your duties are and what an executor can and cannot practise will start yous off on good footing for carrying out your task successfully.
If you'd similar assistance with the probate procedure, or have questions nearly getting started, schedule a free consultation with one of our expert team members today .
Source: https://ez-probate.com/learn/blog/what-an-executor-cannot-do/
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