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Difference between revisions of "Being Asked to Be an Executor"

From Clicklaw Wikibooks
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Many executors do the work themselves, while others hire a lawyer or an accountant to do some or all of the work. Typically, executors hire a lawyer to handle any business interests left behind by the will-maker. Most executors hire an accountant to prepare the tax returns; some hire an accountant to prepare the estate accounts.  
Many executors do the work themselves, while others hire a lawyer or an accountant to do some or all of the work. Typically, executors hire a lawyer to handle any business interests left behind by the will-maker. Most executors hire an accountant to prepare the tax returns; some hire an accountant to prepare the estate accounts.  


Most estates where there is real estate or bank holdings require a legal procedure called '''probate'''. Probate confirms that the will is legally valid and can be acted on. The probate process can be difficult and most executors hire a lawyer to prepare the necessary documents and to guide them through the probate procedure.
Most estates where there is real estate or bank holdings require a legal procedure called [[Probating a Will|'''probate''']]. Probate confirms that the will is legally valid and can be acted on. The probate process can be difficult and most executors hire a lawyer to prepare the necessary documents and to guide them through the probate procedure.


Professional fees are paid out of the estate, as long as they are reasonably incurred.
Professional fees are paid out of the estate, as long as they are reasonably incurred.
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