What is the difference between an executor and an administrator?
An example of an AI chatbot conversation about the roles of executor and administrator in estate management.
Can you explain the difference between an executor and an administrator?
Sure! An executor is appointed in a will to manage the estate, while an administrator is appointed by the court when there's no will.
What are the main responsibilities of each role?
The executor handles tasks like paying debts and distributing assets as per the will, while the administrator does similar tasks but follows state laws.
Do both roles require legal knowledge?
Yes, both roles benefit from legal knowledge, but it's not mandatory. Many hire attorneys to help navigate the process.
What happens if there’s a dispute between the executor and beneficiaries?
Disputes can lead to court intervention, where a judge may need to resolve the issues based on the will or state laws.
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