Legal Duties of an Executor Include All of the Following

question 60

Multiple Choice

Legal duties of an executor include all of the following except​

• A)extending sympathy and comforting the bereaved initially and throughout the traumatic experience of probate.
• B)notifying heirs and designated beneficiaries of the death and of the contents of the will.
• C)paying debts of the decedent and of the estate, and receiving and safekeeping any income of the estate.
• D)preparing a final accounting report of the administration of the estate for court review and approval before discharge.

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Definitions:

Unassigned

Refers to funds, resources, or tasks not specifically allocated or designated for a particular purpose or to a particular entity.

Spendable

Refers to the amount of money that is available for use, not tied up in investments or savings.

Nonspendable

Refers to a fund balance category in governmental accounting, indicating funds that cannot be spent because they are not in spendable form or are legally or contractually required to be maintained intact.

Restricted

Pertains to assets or securities that are not fully transferable until certain conditions, often regulatory, are met.