Holly Springs, Mississippi has a legal process known as "probate." This is when a court decides whether or not a will is legal, and, accordingly, whether or not to effectuate its provisions.
During probate, the court in Holly Springs, Mississippi will determine the validity of the will, distinguish and inventory the decedent's assets, account for the decedent's debts and back taxes, and distribute the decedent's property, among other things.
Wills typically name the person who is to serve as executor of the estate. If no executor is named, the Holly Springs, Mississippi court will appoint an executor. This is typically the person who stands to gain the most if the will is found to be valid.
The basic duty of the executor is to serve as the living incarnation of the estate. Their job is to begin probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will typically be the person who stands to inherit the most from the will, as he or she has an incentive to make every effort to avoid delay.
Duties of the Executor in Holly Springs, Mississippi
Executors of estates have a various distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be finished before the property in an estate can be released according to the terms of the will.
They additionally are required to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.
The executor will also have to collect and make available a list of all of the decedent's debts and assets, as well as a list of those who stand to inherit from the decedent.
Finally, executors have to actually put forth the effort to establish that a will is valid. As the sole legal representative of the estate, this is their job, and is required for them to inherit, giving them an incentive.
How Can A Holly Springs, Mississippi Lawyer Help?
Because this process can be fairly intricate, it is not a bad idea to consult with a knowledgeable probate lawyer in Holly Springs, Mississippi, especially if you find yourself as the executor of an estate and don't know how to proceed.