Navigating the complexities of estate administration can be a challenging task. In Texas, executors are bound by a fiduciary duty to act in the estate's and its beneficiaries' best interests. One of these duties includes paying all debts and taxes owed by the estate....
Handling the affairs of an estate comes with significant responsibilities. If you serve as a fiduciary or trustee of an estate in Texas, you must adhere to a specific set of legal and ethical obligations. Sometimes, beneficiaries may feel you are not fulfilling these...
If a decedent named you as executor of the will, you have many responsibilities. An executor fulfills the provisions of the will, which include safeguarding and distributing assets, paying and collecting debts and filing taxes. When agreeing to be an executor, you are...
Despite naming someone as guardian, this is not necessarily enough to set this designation in stone. Specific factors might actually make someone unqualified for guardianship. On top of that, a priority list exists for choosing a guardian. But what is it, and what...
As an executor, you have fiduciary responsibilities that may see heavy scrutiny from several parties, such as benefactors and creditors. While you are not liable for the debts you administrate, there are still ways to open yourself up to liability. Texas statutes...
Someone who asks you to be the executor of an estate is showing a great deal of trust in you. To be worthy of that trust, you should be honest with the individual and yourself about whether you are able to take on the responsibility. LinkedIn suggests some questions...
Though you should take it as a point of pride when someone asks you to execute his or her estate, carefully consider whether you are up to the task. Estate execution is a time-consuming, often stressful and rarely easy job. Though there are certainly perks to...
Fiduciary duties involve the handling of finances. Your estate executor will have various tasks involving your assets and money. The various duties of the executor will help ensure your assets are safe. He or she will ensure they are free and clear of encumberments...
If you are a personal representative of an estate or appointed as a fiduciary, you have the same general responsibilities. You must act in the best interests of the party who gave you the fiduciary duties. Cornell Law School explains a fiduciary duty is when one...
Many different sources talk about the important role of a fiduciary in various aspects of estate planning. Sometimes articles discuss the matters of a breach of fiduciary duty or the high demands made on a person who has the charge of watching out for the best...