What powers do executors of wills have?

Executors of wills in South Carolina have a variety of powers. They are responsible for settling the estate of a deceased person, including distributing assets and paying creditors. Executors can collect the assets of the deceased person, take possession of them, and use them to pay debts. They can also make investments and manage finances. Executors can also file tax returns on behalf of the deceased. Executors are responsible for providing notice to all creditors of the estate. They may also bring legal actions on behalf of the estate, such as suing debtors or other parties. They have the authority to defend the estate against any claims or lawsuits. Executors are also responsible for distributing property according to the wishes of the deceased. In general, executors are required to act in a fiduciary manner in administering the estate, meaning they must act in the best interests of the deceased. They must keep detailed records of the estate’s finances and assets, and they may only use funds from the estate if it is in the best interests of the estate. The executor is personally liable if funds are misused or not properly accounted for. Executors also have the power to appoint guardians for any minor children of the deceased. They may also be responsible for seeking probate court approval of any major estate decisions, such as the sale of a property. The court may require executors to provide an accounting of the estate or appear at hearings. In any event, executors have a large range of powers and wide-reaching responsibilities when managing an estate.

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What powers do executors of wills have?

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