Legal Question in Wills and Trusts in New York
Executor
My father is executor of my sister's will. Can you please tell me what his legal obligations would be? Also if he makes a mistake can he be sued by the parties named in the will?
1 Answer from Attorneys
Re: Executor
By law he is required to handle all affairs of the estate, from the payment of debts and obligations, filing any income or death tax returns, accounting for his actions and distributing the assets in accordance with the terms of the Will or asset registrations (some assets may not be covered by the Will such as those having a joint registration or a named beneficiary like life insurance and retirement plans. If he acts improperly he can be removed from the position as Executor (by application to the Surrogate's Court) and also be held accountable for hios mistakes.