Questions About the Executor of a Will in Massachusetts

By Beverly Bird

If you leave a last will and testament, it is customary that in addition to bequeathing your assets, you will name an executor, someone to oversee the process of settling your estate. If you neglect to name someone or if you die intestate, without a will, the court will appoint an executor. According to Susan Mooney, an attorney in Stoneham, Massachusetts, many people choose their spouse or a close friend for the job without considering the level of work involved or the skills that might be required.

What Does an Executor Do?

An executor starts by gathering up and accounting for any assets you have left behind, according to Bernard J.Hamill, a lawyer with offices in Quincy. In Massachusetts, she is responsible for providing an inventory of everything to the court. This includes insurance policies, retirement funds and investment accounts, as well as automobiles, real estate and personal effects of any value. If your estate is entitled to any death benefits, she applies for them. She will open bank accounts to collect the insurance proceeds, as well as any other money payable to your estate from interest or dividends. She is responsible for paying all creditors, estate taxes and other expenses from that account. If anyone contests the will, she must hire an attorney from this account to protect your estate. She will file tax returns, both for your estate and for you personally for income you received up until the time of your death. She will cancel your credit cards and other accounts in your sole name. And when all is said and done, she will disburse your remaining assets to your selected beneficiaries.

What If the Executor Doesn't Want the Job?

Under Section 5 of Chapter 192 of Massachusetts’ General Laws, an executor does not have to serve if he doesn’t want to. If he refuses, or if 20 days pass after the will enters probate and he does nothing toward meeting his responsibilities, the court can transfer the executorship to someone else who is willing.

Protect your loved ones. Start My Estate Plan

Does an Executor Get Paid for His Work?

Yes, but how much is open to interpretation. Massachusetts law provides only that the executor be reimbursed for reasonable out-of-pocket expenses incurred while doing her job and be compensated for her services “as the court may allow.” There is no set amount or percentage, according to the Forum for Massachusetts Law. Ideally, the decedent states in his will exactly what compensation his executor will receive. If he doesn’t and the beneficiaries can’t agree, then a judge decides what is reasonable.

What Keeps an Executor From Using Estate Assets for Personal Gain?

Unless your will specifically excuses your executor from doing so, he must post a bond with sureties with the court when he takes the position. According to Linda L. Saracusa, an attorney in North Andover, either another individual with sufficient assets or a corporation posts this bond, essentially stating that if the executor is guilty of any malfeasance, they, too, will be held responsible and can be sued along with the executor. If an individual makes the sureties, he must be a Massachusetts resident. When a corporation does it, a fee is charged. A bond with sureties is essentially an insurance policy equal to one-and-a-half times the estimated dollar amount of the estate.

Protect your loved ones. Start My Estate Plan
Oregon Laws Regarding Executors of Estates

References

Related articles

What Is the Meaning of "Executor of an Estate"?

An executor is a person who manages the estate of the deceased, known as the decedent. Also called a personal representative, the executor is typically named in a will. A judge chooses and appoints an estate administrator if a decedent dies intestate, or without a will, or does not name an executor in his will. An estate administrator basically has duties and powers equivalent to an executor. Each state has individual laws regarding estates and executorships.

Responsibilities of a Will Executor in Massachusetts

Under the General Laws of Massachusetts, a will is submitted to probate court once someone has died. If the will names an executor, the court gives that person “letters testamentary,” which allow him to act on behalf of the deceased’s estate. He then has 30 days within which to post a bond, which is essentially an insurance policy guaranteeing that he will not use his position for any illegal or unethical purposes. Sometimes a will specifically waives the bond requirement, usually in cases where the estate is small and the deceased had few assets.

Does an Executor Have to Assume Unpaid Debt in Michigan?

The executor of an estate has a great deal of responsibility in Michigan and elsewhere. Personally assuming the decedent's unpaid debts usually isn't required, however. If you ask someone to serve in this capacity and name her as executor of your estate in your will, she has some say over who gets paid and who does not, but she would not have to reach into her own pocket to pay your debts, except in certain rare circumstances.

LegalZoom. Legal help is here. Start Here. Wills. Trusts. Attorney help.

Related articles

Can the IRS Come Back for Taxes After the Estate Is Closed?

Most people do not owe estate taxes when they die, so they should not be a critical part of your estate planning unless ...

What Are the Steps to Probate a Will?

In most cases, unless an estate is very small, the probate process is court-supervised. The deceased’s debts have to be ...

Iowa State Laws on Executors

Probate is the process by which your estate is transferred to your beneficiaries after your death. An executor is the ...

Can an Executor of an Estate Spend Any Money From the Estate?

Executors are allowed to spend estate money as they guide the estate through probate – they just can't spend it on ...

Browse by category
Ready to Begin? GET STARTED