Executor -WILL
.A executor should be a person who should not be a minor or a person of unsound mind. Any number of persons including the beneficiaries may be appointed as executors. The appointment of more than one Executor is for alternation arrangement if any one died or refuses to act during the life time of the testator or before the probation.
It is not necessary to appoint an Executor if there is a trustee and the WILL is in relation to a Trust. An Executor is necessary for getting probation to the WILL. In case no Executor is appointed, no probate can be granted (section 222) and it is not granted with out a administration Bond. (Section 291.)
The Executor have the duty to give proper notice to the proper parties ,collect all the assets and property, receive claim against the estate ,paying tax debts, just claims and disputing others , Selling estate property to cover debts or to allow for distribution ,and distributing the estate property according to the WILL . He is duty bound to ascertain the assets of the deceased person and to pay testamentary and funeral expenses. He is also having the power to collect the debts and assets of the deceased and to pay the debts of the deceased and to apply for probate whenever necessary.
Even a minor can be appointed as an Executor. But getting probate he wants to attain major. The appointment of an executor of a WILL may be absolute or for a limited purpose or limited period. An executor as such does not drive any benefit under the WILL, unless specially provided. The Executor will be legal representative for all purpose of a deceased person and all the property of the testator vests in him until the property is distributed as per the provisions of the WILL. The Executor is entitled to represent the testator in any legal action (not criminal or defamatory proceedings), for example, an Executor can sue for recovery of the testator’s debts. The property vests with the executors are only for the purpose of representation and administration.
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Tags :Civil Law
