What Document Needed To Appoint Me As Executor Of Father's Estate?

by Sandra

Question:

My father asked me to visit him for the purpose of having me take a statement from him regarding his last Will & Testament. This has come about because my step mother apparently had a paralegal come to their home that person took a statement from her stating that all her holdings were to go to her grandson. Her two sons are now deceased.

I know that he and my step-mother have a Living Trust. My father wants me to be the executor of his estate and I don't know what type of document I should have him sign, appointing me as such. I realize I would have to have the document notarized. Is there such a document?

Answer:

Sandra, you raise a number of issues that ultimately are best answered by your own living trust attorney.

The first issue is what does the living trust say? Does it transfer assets to the surviving spouse after your father or step-mother passes away? Or does it transfer assets to you or maybe your step-mother's grandson? So, that is the first issue to resolve -- having the living trust properly worded.

Then, it's necessary to properly fund the living trust with the assets that are intended to be controlled by it.

Whether a notarized statement of intent by either your step-mom or your father will have any impact on anything at all depends on state law and a variety of other factors that can only be competently determined by a local estate planning or living trust attorney who you and/or your dad sits down with to discuss all the relevant facts and circumstances.

Second marriages where there are children from both marriages can be very tricky. I recently wrote about this in connection with QTIP Trusts. Your father may be interested in something like that.

Good luck!