Executor or Personal Representative Duties, Powers and Responsibilities
This involves where there is a will. If there is no will, most of the same duties and responsibilities apply. The executor should not dispose of assets until letters of…
Executors
Principal and income allocation rules in Mississippi
Section 91-17-102 – Definitions In this chapter: (1) “Accounting period” means a calendar year unless another twelve-month period is selected by a fiduciary. The term includes a portion of a…
Appointment of Court Administrator or Sheriff to administer estate
In some situations, the court may appoint the court administrator or sheriff to administer the estate in Mississippi.
What happens if an executor or administrator dies, resigns or is removed
In this situation, , letters of administration de bonis non with the will annexed, or de bonis non, shall be granted to the person entitled, and he shall proceed in…
Oath of Executor and Administrator
In Mississippi, the oath of the executor and administrator are in the following form and are signed by the executor or administrator: For the executor: “I do swear that the…
What happens if the personal representative fails to perform his or her duty?
An executor or administrator who is derelict in his or her duty is personally liable for damages caused in the administration of the estate. Liability may arise from improperly managing…
If I serve as an executor, do I get paid?
Yes and No. In addition to all out-of-pocket expenses in managing and settling the estate, personal representatives generally earn a fee. But the Will may appoint without compensation or the…
What should I keep in mind when I select the executor of my will?
Choosing as an executor is a crucial decision since his or her job can be a thankless one. The executor usually gets the blame if things do not go the…
What role does the personal representative (Executor) play under a will?
Responsibilities of the executor or administrator may include: gathering up and protecting the assets of the estate, obtaining information in regard to all beneficiaries named in the will and any…
Who cannot server as executor in Mississippi?
In Mississippi, here are some guidelines about who may serve as executor or personal representative of an estate. Minors: Individuals who are under the age of 18 are generally disqualified…
