Monett, Missouri has a legal process known as "probate." This is when a court determines whether or not a will is lawful, and, accordingly, whether or not to effectuate its provisions.
During probate, the court in Monett, Missouri will decide the validity of the will, establish and inventory the decedent's assets, account for the decedent's debts and back taxes, and distribute the decedent's property, among other things.
Most wills name a particular person as the executor of the estate, but sometimes they don't, or the named executor is deceased, out of the court's jurisdiction, or otherwise unsuited to serve in this capacity. In these situations, a Monett, Missouri probate court has to assign one.
Because the executor is responsible for actually initiating probate proceedings and seeing them to finalization, the person chosen for this role is often the one who stands to inherit the most from the will - giving them an incentive to put in the necessary time and effort.
Duties of the Executor in Monett, Missouri
The executor has various duties concerning the will. First of all, they have to actually initiate the probate hearings with the court, and this procedure has to be finalized before the will takes effect.
The executor also has to provide those with a direct interest in the will notice that the decedent has deceased, by filing an official death certificate.
If the decedent was even reasonably well-off financially, it's likely that they'll have significant amounts of both debts and assets. The executor is tasked with creating an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the necessary court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is complete, they'll probably find it to be worth the time and expense.
How Can A Monett, Missouri Lawyer Help?
Because of the complexities involved in probate, it would be a reputable idea to consult with and retain a Monett, Missouri attorney who specializes in probate, especially if you are the executor of an estate.