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You’ve Been Named as your parent’s Executor. Now What? | Morgan Stanley

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If you’ve been named the executor under your parent’s last will and Testament (the “Will”), you’ll quickly learn it’s a role with both emotional and administrative tasks. As the executor, you’ve have the responsibility of carrying out a parent’s last wishes. Your mother or father has faith in your ability to carry out these wishes—and has put trust in you by appointing you as executor.
 This honor—and legal responsibility—involves taking care of financial obligations, including the payment of any debt and taxes, and then properly dispersing the remaining assets according to the directions spelled out in your parent’s Will. It also involves maintaining property until the settlement of the estate and making any required court appearances.
 Knowing and understanding these responsibilities is key to  overseeing the often-tedious estate pr...

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