A probate lawyer or an estate administration attorney usually helps in wrapping up the estate of that person who has lost his life. You’ll get the job of recruiting one for yourself in case :
- You have your name in the Will of your ancestor.
- The Will did not specify any executor.
- The Executor has lost his life or is not available.
- You see that the current Executor or probate attorney is not adequately performing his job.
The person in charge of managing and concluding the probate procedure for the decedent’s estate is the Executor of the Will or administrator of an estate. The Executor of a parent’s last will is frequently the oldest or most responsible kid. As a result, that child must manage the estate’s probate procedure. It includes handling debt repayment with estate assets, selling property, and allocating assets to heirs and beneficiaries by the last will.
Being named the Executor of a will entails magnificent responsibilities that must be fulfilled in the decedent’s desires. Here are some of the duties you must perform if you are an executor.
Can a probate lawyer be a beneficiary?
An executor being a beneficiary is a fairly typical occurrence. Consider the fact that the surviving spouse of the decedent is typically named Executor when one spouse goes away. Children are the most frequent beneficiaries and executors of wills and trustees of family trusts.
The Executor cannot alter the final will. The Executor’s explicit obligation is to carry out the probate procedure. It includes distributing inheritance assets to designated beneficiaries and heirs and acting in the beneficiary’s and estate’s best interests.
An heir or beneficiary’s right to question the Will and pursue legal action if they believe the Executor is not carrying out the decedent’s wishes as specified by the Will.
Even if a general Power of Attorney doesn’t have many restrictions, there are still some things the agent should not perform.
Among them, some are-
The agent can’t alter thPrincipal’s Will.
One cannot appoint a different agent under the Power of Attorney.
The Executor of the estate assumes control after the death of the main. No other legal, financial, or medical decisions may be made by the Power of Attorney (The POA ends with the death of thPrincipalal).
One should not use Power of Attorney against the interests of thPrincipalal.
A power of attorney should not use the principal’s funds or assets for personal purposes.
An executor has complete control over the estate’s assets, which means he is responsible for paying off the estate’s debts (to creditors) and safeguarding its assets so that the heirs receive the most money possible. Unfortunately, the probate process becomes more complex when personal representatives are incompetent or unorganized.
To avoid problems if you are the Executor, you must be aware of the rules. For example, if others believe you are not correctly performing your job, they may take legal action against you. In addition, if you’re a beneficiary in a will, incapacity or corruption may result in less inheritance for you.