Who is responsible for administering an estate?

In South Carolina, the person responsible for administering an estate, also known as the executor, is appointed by the deceased in their last will and testament. The executor is chosen from among the people nominated in the will. If the deceased did not nominate an executor, the court must appoint one. In South Carolina, executors must be 18 years or older, a resident of or register to do business in the state, and of sound mind. The executor is responsible for carrying out the wishes of the deceased as listed in the will and managing the assets of the estate until the tasks identified in the will are completed. This includes collecting assets, paying debts and expenses, and distributing the remaining assets as the deceased desired. Executors are also responsible for filing the necessary paperwork with the probate court, such as an inventory of the deceased’s assets and debts, a petition for probate, and the last will and testament. Executors also have to attend court hearings and provide updates to the court on the progress of the estate’s administration. In addition, the executor is responsible for paying any inheritance taxes or estate taxes that may be owed. Executors who fail to fulfill their responsibilities can be held liable for any damages to the estate or beneficiaries resulting from their negligence or misconduct. The responsibilities of executing an estate can be complex and labor intensive, so it is important to carefully consider who is named as executor in a will.

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