California Law Requirements for the Executor of an Estate
When a person dies, he typically leaves behind financial loose ends. His estate's executor must take care of the estate's finances, including bills, taxes and past due debts. In California, the executor's duties pass to the decedent's next-of-kin if she did not appoint someone in her will.
Other People Are Reading
-
Qualifications
-
A person may name anyone in the will as his executor as long as the person is over 18 and has the mental capacity to consent to this duty and carry it out. The executor must be trustworthy and honest. Ideally, he should be free of negative feelings about any of the will writer's heirs; at the very least, he should be able to carry out his duties objectively regardless of his personal feelings about the will.
Next of Kin
-
If there is no will, the state of California must appoint an executor of a person's estate when she dies. California usually bases this appointment on the will writer's surviving kin. Her spouse is the first choice, followed by parents or children. Any person who does not feel comfortable with the appointment can decline to accept it. If the executor named in a will declines this duty, the state appoints the next-of-kin.
-
Responsibilities
-
The executor must take care of the estate's financial affairs and distribute inheritances to heirs. He must pay estate taxes and final bills using the estate's assets, terminate the decedent's credit cards, manage the estate's assets until they are distributed to heirs and file the will with the probate court. In some cases, the executor may have to sell or liquidate assets to pay the estate's debts.
Probate
-
If the decedent's estate is worth more than $100,000 or contains real estate worth more than $30,000, the executor must file a petition for probate with the probate court. The executor's attorney may help him prepare his petition. After filing the petition, it takes an average of eight months to settle the estate. The judge must approve the petition at a hearing, which usually takes place about six weeks after the executor files it. Creditors then have four months to claim debts, after which the executor must pay taxes on the estate. When probate ends, the executor must distribute inheritances out of whatever is left in the estate.
-
