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

* the will is challenged by someone who feels left out of the will.

If someone asks you to be their executor and you don’t want to do the job, you can say no. You can also decline or [[Ten Steps to Being an Executor#What if I don't want to act as executor?|'''renounce''' an appointment as executor]] after the person has died. However, if you have started dealing with any property of the estate, you are legally bound to continue, and you can only be relieved of being the executor by a court order after accounting for what you have done in the meantime.

That said, there is no set time when the responsibilities of the executor are finished. The executor remains responsible for looking after the estate, even after the estate property has been distributed to the beneficiaries under the will. If assets or debts turn up years later, the executor will still be legally responsible for dealing with them. The executor’s role is only finished when the court formally discharges the executor.  

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.  

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

When you agree to act as an executor before a person dies, make sure you have a current copy of the will. Keep it in a safe place where you can find it easily. Also make sure you know where the original will is kept.