Estate administration is a large responsibility, so don’t expect to receive the title of executor without some work ahead of you. In Maryland, you have the right to excuse yourself from being an executor. The common tasks of this individual are what initiate the full transfer of an estate to its beneficiaries. Following are steps to take to disqualify yourself from being an executor while finding a suitable candidate.
Applying for disqualification
You must make a public notice via a renunciation form to be removed from the role of executor. In Maryland, it’s not important to report why you’re denying the role. Personal or professional reasons qualify. A renunciation then frees you from the basic duties of:
- Paying taxes: An executor is commonly responsible for using estate funds to ensure that taxes are paid.
- Sale of property: You ensure that property gets sold, which can take months.
- Notifying insurance: Ensuring that annuities are collected or beneficiaries are paid is what executors do.
- Paying debts: The debt left in an estate, through the use of estate funds, gets paid by the executor.
Keep in mind that your removal leaves the estate you were obligated to subject to public courts. If you don’t want to see another person take over, then keeping your title is best. Otherwise, someone with fewer qualifications could get named. Even more, your denial may cause conflict with the family or friends of the deceased.
Think of your personal well-being
If you don’t feel fit for the job, then you’re justified in refusing the role of executor. Your reasons might include illness, family obligations, work obligations, or a conflict of interest. If you don’t believe you are the right person for the role, don’t accept it and allow someone else to take on this responsibility.