Asked to be an executor? Know your duties before you agree
New Delhi, Oct. 14 -- -Name withheld on request
You have chosen the sensible approach of understanding your role as an executor before accepting the responsibility.
Under law, the deceased's property vests in the executor, who acts as the legal representative of the estate. In practice, you have to locate the will and assets, pay funeral expenses, debts and taxes from the estate, and then transfer the assets to the legatees as the will directs.
You will also need to complete formalities such as obtaining a PAN card for the estate, opening an estate bank account and dealing with various authorities and institutions, depending on the nature of the assets. These could include land revenue authorities, housing societies and provident fund ...
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इस लेख के रीप्रिंट को खरीदने या इस प्रकाशन का पूरा फ़ीड प्राप्त करने के लिए, कृपया
हमे संपर्क करें.