Residents of Gold River and other areas of California may want to learn more about when there may be a need for a temporary executor for their estate. Probate documents may show that there is a need for immediate action, although temporary executorship is only allowed if the will permits it. Applying to be a temporary administrator may happen with the annexing of the will.
How to appoint a temporary executor
A written motion to the court may make this happen more quickly. You must state the reasons for the temporary executor. You will also need to present the petition, and more, in person.
What must you take when you go to court?
You will need your request along with:
- A certified copy of the death certificate
- The original will if not already filed
- Other documents required by the local court
If the court grants your request, it may also limit your powers to what you mentioned in the petition.
When would there be a need for temporary administration?
There may be a need for a temporary executor to:
- Preserve the value of stocks held by the decedent
- Continue the decedent’s business
- Manage real property
- Pay for the deceased’s final expenses, hospital bills or taxes
- Gain access to the decedent’s safe deposit box, where the last will may be located
- Bury the decedent
You will need to file an executor’s bond. The temporary administrator must submit an inventory of the account as well.
As temporary executor, your duty is to protect the estate
Being an executor means that you do not grow the estate but protect the assets. Estate planning, and then administration, is for the sake of the beneficiaries. Selling volatile stocks is often a wise move as the administrator converts them to those that have more stability.
Although you may be accountable for losses on the administrated account, you will not receive credit for gains. You may want to check with local laws on this issue.
When it comes to your own estate planning, you may want to find a trusted and experienced attorney who may advise you on the future of your estate. A lawyer can personally answer complex questions, help you make difficult decisions as well as prepare the documents.