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March 22, 2010
Estate executor refers to an individual in charge of managing the estate of a person who has died. Estate administration duties will vary depending on the type and value of assets owned by the decedent and whether the estate is probated or protected through a trust.
Oftentimes, the estate executor of probated estates will require assistance from a lawyer or estate planner to ensure estate management procedures comply with probate laws. Probate is the legal process used within all 50 states to validate decedents' last will or appoint an estate administrator to manage intestate estates. Intestate means the person died without executing a last will.
March 09, 2010
Appointing an estate executor is an important decision that should considered carefully. Executors play an integral role of estate management and have multiple duties and responsibilities. Although most people designate their spouse or adult children to administer their estate upon death, this might not always be the best decision.
The responsibilities of estate executor can be challenging to handle on their own. Add in dealing with grief over the loss of a loved one and administration duties can be overwhelming. When family strife exists, estate executor's often receive the brunt of anger and are destined to cope with heirs contesting the Will.