Are there any restrictions on what an executor can do?

Yes, there are restrictions on what an executor can do in the state of Illinois. An executor of a will in Illinois must comply with certain obligations and duties. The executor must ensure that the will is properly executed and that all debts and taxes of the deceased are paid. An executor may not dispose of the property before all debts are paid and must ensure that the estate is distributed as the will directs. An executor in Illinois must also identify all assets, have them appraised and notify all beneficiaries and creditors of the estate. The executor must also make sure that any real estate or other unsecured assets are secured and safeguarded in accordance with the law. An executor is not allowed to make any personal gains from the estate or use the estate assets for his/her own personal use. The executor is also responsible for completing and filing all necessary income tax returns. An executor must also keep detailed records of all transactions related to the estate and provide an accurate and truthful accounting of estate assets and activities to the court and all beneficiaries and creditors of the estate. An executor must also obey all court orders and follow state law when administering the estate.

Related FAQs

Does an executor have to post a bond?
What is an irrevocable trust?
What is a no-contest clause?
What happens if an executor fails to distribute assets?
Can an executor make decisions without court approval?
What is a testamentary gift?
What is the purpose of probate?
Who is responsible for administering an estate?
What is an intestate succession?
How can an executor protect themselves from liability?

Are there any restrictions on what an executor can do?

Related FAQs

Related Blog Posts