can a beneficiary of a will act as executor?

Answer 1

Not only is it perfectly legal, but it's often very advisable. The reason is that the executor has a great deal of authority over the estate, obviously. As a result, when drafting a will, you want someone in charge who has an interest in seeing to it that property gets distributed in accordance with the will's provisions. If the executor is also a beneficiary, it's that much more likely that things will go smoothly.

Answer 2

Yes, as all the other answers say. And as the paralegal says, the beneficiary may not act as a witness and if s/he does there must either be two other witnesses for the will to be valid, or the beneficiary must disclaim.

If the beneficiary drafts the will and/or acts as attorney for the estate, then there are, or may be, special limiting rules. (In New York State the testator must sign a special form of letter acknowledging the apponitment and its implications; other states doubtless have different rules, or none. Also in NYS, there is a problem if a drafter receives more under the will than s/he would in intestacy: i.e., zero if not related to the testator.)

It is in fact most common to name a family member as executor, and to provide that "I direct that no bond need be provided". But one should be aware that an executor may claim statutory fees (banks and trust companies never waive them, but family members often do), and that the work can be onerous and a nuisance if the estate is complex. Some responsibilties can be delegated to the lawyer and the accountant, others (like investment issues) only with difficulty, and the liability risk remains.

Answer 3

The Executor appointed by the deceased or a Solicitor dealing with the will has the prime task of discharging any debts that the estate has outstanding but firstly to asses the value of the estate and any assets. Any charges against the estate must take priority. It sounds as though the executor in this case is someone you are not familiar with or are estranged to, Normally the Executor would work fairly closely with the next of kin regarding property and belongings but it would depend heavily on the conditions and instructions of the deceased in the will. If you believe the Executor has not acted in the best interests of the family then it would make sense to approach the person with your concerns and see if there is some compromise that can be arranged. In addition to the above, property and assets can only be disposed of after probate is applied for and granted by the Probate Office. The fact that a person is nominated in a will as Executor this doe's not give legal authority to sell property and assets.

Answer 4

Yes you can. This is actually recommended. The only time that an executor who is not a beneficiary should be named is if a beneficiary is under the age of 18 because someone under this age cannot inherit his/her share until they reach 18.

The only thing a beneficiary can't do is be a witness of that will. If he/she is, then the will will be legal, but the beneficiary that signed the will would be excluded from that will.

Answer 5

yes a beneficiary can act as an executor, usually one is appointed by probate attorney, by family of deceased, or it may be stated in the deceased persons will. Remember, the executor must remain neutral and decisions made on behalf of the estate. If you act a executor of a will you have the options to get paid for your services out of the estate, although, you must put as claim into the courts during the probate hearing.

Answer 6

Yup. The only thing a beneficiary of a will CANNOT do is sign your will as one of the witnesses. That will void your will. But it's very common for a beneficiary to act as executor (for example, my wife is the sole beneficiary of my will if she survives me, and she is also my personal representative -- different names in different states).

Answer 7

Yes - but if you're smart - don't do it. I can tell you 100 horror stories of families being shredded by this process. If you are a beneficiary and are named Executor - DECLINE! Then Aunt Millie from Tulsa can never accuse you of cheating her out of her $25.
If you have to - it's worth the money to have the attorney do it. Then no one gets "hurt."

Answer 8

Yes, and many do. Part of the will stipulates if a benficiary acts as executor just what his inheritance part is separate from his executor fee

Answer 9

yes,. My mother died earlier this year and I was both the executor and principal benficiary

Answer 10

Yes, although that has always seemed odd to me, like a potential conflict of interest.