What does an executor have to disclose to beneficiaries?
What does an executor have to disclose to beneficiaries?
As the executor of a will, it is your duty to communicate with the beneficiaries. If there is a potential conflict of interest between the beneficiaries and your duties as executor, you must notify them immediately. Failure to do so may result in claims against you or slow down the administration of your will.
You are also required to keep beneficiaries informed about the probate process. You do not have to respond to every question the beneficiaries have or involve them in decision-making; but the beneficiaries have the right to be informed. If you are unsure of how to keep your beneficiaries updated, you can hire a probate attorney to assist you.
In New York, the executor is responsible for notifying beneficiaries about what is in the will, but only the people who have a right to receive the estate. While they don't need to know all the details about the distribution of the estate, they should know enough about it so that they can make their own decisions. In addition, the executor must use their best judgment to run important estate developments.
Despite this responsibility, it can be difficult to keep all of the beneficiaries informed about the details of the estate. Moreover, the executor must make sure there's enough money to pay the bills. Otherwise, there may be a legal battle, which will only cost the beneficiaries more.
If you have any questions or need an Estate Attorney, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
