What are the rights of the liquidator of an estate?

• You are a liquidator and would like to understand the implications: your rights and duties?
• First, would you like to understand what the steps are to proceed as the liquidator of an estate?
• Second, does one of the heirs want to contest the will?
• Further, do the heirs want to dispute your position as liquidator?
• In addition, can you act as liquidator?
• What compensation is there for a liquidator?
• How to refuse your nomination as liquidator?
• Is it possible to resign?

The role of liquidator is important and weighted with responsibility. This is why it’s necessary to understand the rights of a liquidator. Particularly, he or she must settle the estate of a deceased person.

The responsibilities of the liquidator are provided in the will. Also, they are imposed by law. Therefore, a liquidator is responsible for administration of the assets of the deceased – up until they are distributed to the heirs. In addition, the liquidator must act with care and diligence, honesty and loyalty. Most importantly, he cannot place himself in situations where conflicts of interest could arise.

There are situations where a liquidator is personally responsible for his actions.

The help of a lawyer is indispensable if significant property is at stake. You’ll need a lawyer who understands the specific rights of a liquidator. A lawyer’s advice will help you to defend yourself and the estate you represent.