An executor (also known as an administrator) is the person in charge of the estate of a deceased person. (i.e., their assets, property, shares, bank accounts, and so on). Can an executor appoint a power of attorney?
Being appointed executor does not obligate you to accept the position. It might take years to get from agreeing to be someone’s executor to having to carry out those responsibilities. Conditions may change over time, and an executor may have less time due to family. Also, have work responsibilities may live abroad, be ill, or the estate may be complicated. And, with the potential of a family feud (if certain family members have been left out of a Will, etc.)
Renunciation
Renunciation of an executor’s duties is a reasonably easy procedure. If an executor wishes to completely relinquish their right to act. Then, they may renounce (step down) from their duties. An executor must ensure that they have not “Intermeddled” in the estate before agreeing to renounce. This assumes they haven’t done something that an executor would do when handling an estate. Such as paying debts, selling personal belongings, and so on.
To renounce, the executor must sign a renunciation document. That releases the executor from the burden of handling the estate indefinitely. The renunciation form is then filed with the Probate Registry, along with the remaining executor’s application for Grant of Probate (s). Renunciation decisions are usually reversible except under rare situations after they have been registered with the Probate Registry.
Can an executor appoint a power of attorney?
The executor is not issuing a “right of appointment,” but rather delegating some of his or her responsibilities to someone else. It must be followed as power of attorney is a distinct legal form. However, the executor will usually assign duties. When our office assists an executor in probating a will. We usually hire an outside appraiser and/or real estate agent.
When we draft a will or trust, we have a provision that explicitly grants the executor or trustee the authority to delegate. So, the will is the first place to look for an answer to this question. If the will was written by a qualified solicitor, there will almost certainly be a provision granting the executor the authority to delegate any of his or her duties.
In fact, this is often a point of dispute between beneficiaries and executors. The beneficiaries may have one real estate agent in mind, while the executor may have another. When the beneficiaries want a fast sale to collect the proceeds, the real estate agent may want to hold the property on the market in order to gain the true value. Again, a knowledgeable probate lawyer has dealt with this issue before. And typically has resources that have proven to be useful in resolving the issue.
What happens if I am unable to act? Is it necessary for an executor to nominate another executor?
If an executor is unable to function but does not want to relinquish the right to administer completely, he or she has many options:-
– If they are suddenly unable to act, for example, because they reside overseas. The executor may grant the power of attorney to another person on the behalf. The executor may delegate the duties he or she is responsible for to the solicitor.
-If one of the executors refuses to act when there are more than two executors named. The executor will have power reserved for them. This means that they are not actually serving as executors but retain the right to do so in the future if necessary.
-If someone really wants to be an executor but considers the administration of the estate too onerous or time-consuming. They may nominate a solicitor to manage the administration on their behalf. The executor retains possession of the estate, but the attorney is in charge of securing the Grant of Probate. Or gathering properties, settling debts, and distributing the estate, among other things.
An executor may appoint an agent to carry out certain responsibilities on his or her behalf. In contrast, to represent the executor in the court, the power of attorney cannot be used. While an agency will accept power of attorney to act on behalf of an executor under some cases. It is possible that such entities would require the individual who has been given letters testament to acting. And a power of attorney to act on such a person’s behalf will be rejected. Acceptance of a power of attorney is subject to the laws of the particular organisation.
Author’s Note –
Basically, when it comes to Can an executor appoint a power of attorney, the answer is mostly Yes. The executor most of the time appoints another executor on behalf of him/her. Unless the will has mentioned something else, the executor can appoint a power of attorney. Some powers are in the hands of the executor and at times, they are not.
