In Lyndon, Vermont "probate" refers to the process a court uses to decide whether or not a will is valid, thereby deciding if it should be given effect.
During probate, the court in Lyndon, Vermont will determine the validity of the will, identify and inventory the decedent's assets, account for the decedent's debts and back taxes, and distribute the decedent's property, among other things.
The executor of the estate is commonly named in the will. If not, the probate court in Lyndon, Vermont will name will appoint a person to serve as executor. This is usually the person who stands to inherit the most under the will.
Because the executor is responsible for actually initiating probate proceedings and seeing them to completion, 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 Lyndon, Vermont
The executor has many duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be completed before the will takes effect.
Executors must also inform anyone with an interest in the will of the death of the decedent. People with an interest in the outcome of probate are those who are named in the will, or anyone who would likely inherit if the will is invalidated (close relatives, for the most part).
Executors are also required to make available an accounting of the testator's debts and assets, so their affairs can be wound up, along with a list of everyone who is named in the will, or otherwise stands to inherit.
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 assistance. 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 Lyndon, Vermont Lawyer Help?
Because of the complexities inherent in the probate process, it is a good idea to hire an experienced Lyndon, Vermont probate lawyer, particularly for the executors of estates.