Name Beneficiary Executor Without Them Knowing
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
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.
As a practical matter, it's wise to name an executor who lives close to you. It will be more difficult for the executor to handle day-to-day matters from a distance. But if the best person for the job lives far away, there's no law against naming that person in your will.
Does a will supersede a life insurance beneficiary? A will won't supersede the beneficiaries listed on a life insurance policy. In most cases, the beneficiary listed on the life insurance policy has the right to claim the payout regardless of the instructions in the will.
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.