It is not uncommon in the U.S. to have the same person act as both an executor and a trustee. However, when the people chosen for these positions are different, it is important that the people involved in managing a person’s trust or will understand what their responsibilities are in order to prevent legal complications.
An executor essentially has the responsibility to carry out the terms of a will. This may involve the task of preserving the estate until all the debts, expenses, and liabilities of the deceased are settled, and until all the terms of his or her will have been carried out.
If you have just been assigned as an executor or a trustee in Los Angeles, learn more about your roles and legal responsibilities by speaking with an trust attorney at the Keystone Law Group, P.C. Call us at (310) 444-9060 today to learn more.
If you have just been assigned as an executor or a trustee in Los Angeles, learn more about your roles and legal responsibilities by speaking with an attorney at the Keystone Law Group, P.C. Call us at (310) 444-9060 today to learn more.
