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Decisions of an Executor
Executors are given court authority to follow the terms of a will and properly distribute the assets in a deceased personís estate. How well they carry out their duties could have significant impact on how much of the estate is preserved. If there is no executor or appointed administrator, then any person in actual or constructive possession of any property of the decedent has the power to make certain elections. This would include a trustee. When the final income tax return is filed for the decent, an executor or other responsible person may make certain elections that could dramatically impact...Read More