Legal Question in Wills and Trusts in New York

Re: Executor of a Will - what does that mean to me?

You will be responsbile to represent the estate after the death of the testator, including the protection of assets, the distribution of assets and the paying off of creditors.

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Re: Executor of a Will - what does that mean to me?

Your responsibilities include: probating the Will, finding and detailing the assets of the decedent, filing any estate or inheritance tax returns required of the estate, final income tax returns, payment of outstanding liabilities, determining the persons entitled to share in the estate, accounting to them for the estate activities, seeing they get their share of the estate and accounting to the Court for your activities. Your fees are determined by statute unless the Will provided otherwise. You may retain professionsals to assist you in your duties and all fees are paid out of the estate assets.

Re: Executor of a Will - what does that mean to me?

The Executor under a Will is the person nominated by person making the Will to be his or her representative after death. The executor works with the attorney to settle the affairs of the person after death.

Re: Executor of a Will - what does that mean to me?

On the death of the testator you will be charged with the responsiblity of carrying out their wishes as expressed in the will. You will have to file papers in Surrogates court to be appointed by the court. You will be entitled to a statutory fee for your efforts. Good luck.

Re: Executor of a Will - what does that mean to me?

Upon the death of the Testator you will generally select an attorney to probate the will for you and obtain a certificate of Letters Testamentary. You will marshall the assets and distribute them in accordance with the will.

You will be entitled to a commission on the assets you collect and distribute.

My comments are based on treating your question as a hypothetical. Accordingly, my comments could be substantially and materially different were I advised of all of the relevant facts and circumstances. My comments are by necessity general in nature, and should not be relied upon in taking or forgoing action in your circumstances without retaining an attorney. In order to fully explore your legal matter, you should meet with me or another attorney and bring to any such meeting all relevant documents and correspondence, and any other relevant facts.

I am not hired to be your attorney, and no attorney-client relationship exists between us, unless and until you enter into a written retainer agreement with me, tender the agreed amount for a retainer and it is accepted by me. I reserve the right to decline representation should circumstances change.

As you are aware, in New York there are various deadlines for filing a complaint, filing an answer to a complaint, or taking other action in order to preserve your legal rights, and avoid a complete loss of those rights. You should retain counsel immediately in order to be fully advised of your rights, and to be fully informed of the applicable time period within which those rights must be asserted. If you were to delay in doing so, it might result in your potential cause of action being forever barred.