What powers do executors of wills have?

In Florida, executors of wills have a variety of powers to distribute assets, pay debts, and administer the estate of the person who passed away. Executors must collect all the assets, which includes locating financial accounts, physical documents, and other assets. After an inventory of all of the assets is made, any debts must be paid. This could include items like the funeral costs, medical bills, or unpaid taxes. Executors must manage investments and make sure all taxes are paid. They also need to make sure the assets are receiving any interest or dividends due. If the will directs the executor to distribute assets, they must do so. This could involve giving out money, transferring real estate, or transferring stocks. If the will is not clear on how the assets should be distributed, the executor may be able to make decisions with the beneficiaries. It is important to note that executors have a duty to act in the best interest of the estate and to all heirs. Executors must also keep accurate records of all decisions they make. Executors of wills have a very important job in Florida. They must ensure that all assets are collected, debts are paid, and all taxes are processed. If necessary, they must also distribute assets according to the will.

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What powers do executors of wills have?

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