What does being named executor of a will mean for Trinity?

Study for the CAS 45-Hour Real Estate Principles Course Test. Utilize flashcards and multiple choice questions to prepare thoroughly. Each question is paired with hints and explanations. Get ready to excel in your exam!

Being named executor of a will means that Trinity is responsible for carrying out the will's provisions. This role involves a variety of duties, including collecting and managing the deceased person's assets, paying any debts or taxes, and distributing the remaining property to the beneficiaries named in the will. The executor acts as a fiduciary, meaning she has a legal and ethical obligation to act in the best interests of the estate and its beneficiaries.

This responsibility encompasses ensuring that the wishes of the deceased are honored as outlined in the will and often requires legal knowledge or the guidance of professionals such as attorneys or accountants to navigate the probate process effectively. The executor's role is crucial for the proper administration of the estate and to ensure a smooth transition of assets to the heirs.

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