Name Beneficiary Executor Without Telling Them
Description
How to fill out Release And Exoneration Of Executor On Distribution To Beneficiary Of Will And Waiver Of Citation Of Final Settlement?
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FAQ
Clients sometime ask me, ?Should I tell someone that they are my executor?? I think it is an excellent idea to let your executors know that they have been appointed in your will, so that they know what to expect.
Yes, the executor and beneficiary can be named as the same person in the Will. It's perfectly normal and legal. It's actually a common approach because the executor should be someone you know and trust and it's common sense that your beneficiaries fall into that column.
Executors are bound to the terms of the will, which means that they are not permitted to change beneficiaries. The beneficiaries who were named by the decedent will remain beneficiaries so long as the portions of the will in which they appear are not invalidated through a successful will contest.
A beneficiary can override an executor if the executor fails to follow the terms of the Will. Beneficiaries can override an executor if the executor breaches their fiduciary duty. A beneficiary who simply disagrees with an executor or does not like the executor's decisions cannot override the executor.
If the deceased individual had a will, then typically, the will names someone to be the executor. However, Safi pointed out, if someone passes away without a will, then one of their close family members can apply to the court to become the executor of the estate before legally administering it.