Independent Executor in your book

You are here: Louisiana Law Forums News, tips and support for our book. Independent Executor in your book

  • Author
    Posts
  • #3398

    Bluto
    Participant

    On page 115 of the Louisiana Legal Advisor you talk about independent executors and say that money can be saved. Can you explain further? I don’t see why that would be.

  • #3399

    Lex
    Keymaster

    It’s simple, really:

    An independent executor has to deal with the court much less often. Every time you deal with the court you are going to pay court costs and fees. For example, a regular executor has to get court permission to do even routine things, like pay bills. An independent executor can do these things without having to get a court order granting permission.

    If you want to talk about really expensive, an independent executor can sell real estate belonging to the estate without a court order. A regular executor has to petition the court for permission, has to put an ad in the newspaper (that can be $300 by itself) and has to wait 30 days. All of this results in time delays, court costs, and in some cases a sale can fall through.

  • #3459

    Bluto
    Participant

    That makes a lot of sense. When this new law came in there was some doubt with the title examiners as to whether an independent executor could sell a house without court approval. Apparently whatever board handles or regulates the title companies got together with the Legislature and made it clear that court approval would not be needed where an executor was “independent.”

The forum ‘News, tips and support for our book.’ is closed to new topics and replies.