Quote:
Originally Posted by matthewb0051
One big reason for the difference on the Will side, is that the Court's approval results in Letters Testamentary, which give the Executor the legal authority to take action on behalf of the deceased and his/her affairs. Technically the Executor can't just run around cancelling accounts or selling off assets without LettersT.
|
That's exactly one of my frustrations with a Will vs. a Trust. The Court has to give the Executor authority where the Trust automatically gives the Successor Trustee authority. The only thing I need to show as Successor Trustee is the page of the Trust that names me Successor. IMO a person should be able to do the same as Executor and just show the will naming them Executor. But nope! The court has to officially appoint someone and give them authority to act. It doesn't make sense to me. As I said in my OP, it seems like a big time and money suck.