How can an executor protect themselves from liability?

An executor in South Carolina can protect themselves from liability by taking certain steps. First, they should review the will and make sure that they understand their legal obligations. They should also review laws and regulations relevant to their duties and make sure they comply with them. Second, they should keep accurate records of all financial transactions and keep track of all assets, liabilities, and funds. This includes keeping detailed records of all expenses and making sure that bills are paid in full. They should also keep a journal of all decisions and actions taken in relation to the administration of the estate. Third, they should seek guidance from a qualified attorney who specializes in probate law. An attorney can provide legal advice and help to ensure that the executor is following the law and protecting their own interests. Fourth, the executor should keep good communication with the beneficiaries of the will and keep them informed as to how the estate is being managed. This can help to avoid misunderstandings or disputes that may lead to potential liability. Finally, the executor should avoid conflicts of interest whenever possible, and should never engage in any activities that are against the best interests of the beneficiaries. By taking these steps, an executor can protect themselves from potential legal liability.

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