As an executor, you may have taken time to understand the estate you are required to manage and your duties in-depth. But you may still encounter some issues that may make your work more challenging.
Here are four of them:
1. Disputes with beneficiaries
You may dispute with beneficiaries by simply doing your job. Some may not agree with how you approach matters or the decisions you make. Accordingly, they may request your removal. But removal is not that easy – the beneficiary requesting it is required to provide sufficient evidence to support their claim.
2. Will contests
If an interested party contests the will, you may have to wait longer before carrying out your duties. You will respond to claims, file needed evidence and so on.
3. Disputes with co-executors
If your loved one named more than one executor, perhaps you and your siblings, disputes may arise. For example, you may disagree with how to handle activities, such as paying debts or whether to sell or realize an asset. You may also argue when one of you believes they are doing most of the work or when one delays signing a document, as most forms usually require all executors to sign.
Contacting government agencies to handle tax matters or claim death benefits, locating all beneficiaries, gathering the estate’s assets and paying off debts and taxes can take time. And this may lengthen if you conflict with an interested party or lack the required paperwork. In Georgia, probate can take about a year to complete.
Any executor can face the above-discussed problems. It’s vital to be informed about them earlier and get legal guidance to have a smooth experience.