New Albany, Mississippi has a legal process known as "probate." This is when a court determines whether or not a will is valid, and, accordingly, whether or not to effectuate its provisions.
During probate, the court in New Albany, Mississippi will decide the validity of the will, determine 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 usually name the person who is to serve as executor of the estate. If no executor is named, the New Albany, Mississippi court will appoint an executor. This is usually the person who stands to gain the most if the will is found to be legitimate.
The major duty of the executor is to serve as the living incarnation of the estate. Their job is to start probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will usually 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 New Albany, Mississippi
The executor has numerous duties concerning the will. First of all, they have to actually initiate the probate hearings with the court, and this procedure has to be done before the will takes effect.
They also are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, usually by filing a death certificate.
The executor will also have to compile and make accessible 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.
Lastly, executors have to actually put forth the effort to prove that a will is valid. As the sole legal representative of the estate, this is their job, and is obligated for them to inherit, giving them an incentive.
How Can A New Albany, Mississippi Lawyer Help?
Because of the complexities inherent in the probate process, it is a good idea to hire an experienced New Albany, Mississippi probate lawyer, particularly for the executors of estates.