An estate executor is a person or institution in the estate administration and probate process that is in charge of executing the estate and managing the estate property according to the wishes of the deceased. In some cases, an estate executor can resign from his or her position as an estate administrator.
Some circumstances make it impossible for them to continue estate administration
Estate executors are not usually obligated to continue to undertake their duties if they have become physically or mentally incapacitated, for instance. In some cases, estate executors may even discontinue their estate administration role if they have lost confidence in their ability to do the job. What’s more, estate executors may resign from their position if there is a conflict between themselves and another beneficiary. Generally, estate administrators can resign for any reason.
What happens when an estate executor resigns?
The estate executors must file a written notification containing the reason for resignation and an indication that another estate administrator can take over. In most estate administration and probate situations, an estate administrator has to serve all beneficiaries with a written notice that he or she has resigned from his or her position.
An estate administrator who has resigned from his or her position must hand over all estate property he or she has received to the estate successor after filing the written notice. This individual may also need to provide documentation about how he or she has handled certain aspects of the estate’s management, including bank statements.
Does the court appoint a successor?
If estate administrators resign, the estate administration and probate court will appoint a successor in the event the will doesn’t name one already. This successor estate administrator must be willing to take over the estate administration role.
The estate administration and probate laws are clear when it comes to the role of estate executors and what happens when they resign.