Benefits of Appointing an Executor 

executor of will When a person dies owning assets in his or her name alone, without a joint owner or beneficiary, an estate must be opened in probate court and a personal representative must be appointed to act on behalf of the deceased person. If there is a Will, the personal representative is called an executor. If there is no Will, the personal representative is called an administrator.

Without a Will, the applicant to be administrator must live in the same state as the deceased person and must post a surety bond based on the value of the probate estate assets. If more than one person applys to administrator, the court must decide who it will appoint to be in charge.

With a Will you have the right to designate the person(s) who you want to be in charge of your assets and to administer your estate. With a Will, you can designate an out-of-state person to be executor and you can waive the requirement for a surety bond, which will save your heirs hundreds of dollars.

With a Will you can authorize your executor to sell real estate, personal property, settle claims you have against others and continue the operation of a business you own. Without a Will, your personal representative will need to obtain prior court approval to do all of those things.

Contact the Bruce Favret Law Office today (513) 871-8076 to schedule your consultation. We can answer your questions and explain the law as it relates to your unique situation.

cincinnati ohio lawyerBruce Favret, Probate & Estate Planning Attorney At Law - Cincinnati Ohio. 
Schedule Appointment: (513) 871-8076