NRI Legal, Tax & Property Services India

Powers of Executor(s)

Step 4 of 11

Powers of Executor(s):

To carry out the terms of my Will, I give my Executor the following duties and powers with respect to my estate:

To pay my legally enforceable debts, funeral expenses, and all expenses in connection with the administration of my estate and trusts created by my Will as soon as convenient after my death. If any of the real property devised in my Will remains subject to a mortgage at the time of my death, then I direct that the devisee taking that mortgaged property will take the property subject to that mortgage and that the devisee will not be entitled to have the mortgage paid out or resolved from the remaining assets of the residue of my estate.
To take all legal actions to have the probate of my Will completed as quickly and simply as possible, if required by law, or if deemed necessary by the Executor, under the laws of India.
To retain, exchange, insure, repair, improve, sell, or dispose of any and all personal property belonging to my estate as specified in this will, and if not specifically specified, as my Executor deems advisable without liability for loss or depreciation.
To invest, manage, lease, rent, exchange, mortgage, sell, dispose of, or give options without being limited to term and to insure, repair, improve, or add to or otherwise deal with any and all real property belonging to my estate as specified in this will, and if not specifically specified, as my Executor deems advisable without liability for depreciation.
To purchase, maintain, convert, and liquidate investments or securities, and to vote stock, or exercise any option concerning any investments or securities without liability for loss.
To open or close bank accounts.
To maintain, continue, dissolve, change, or sell any business which is part of my estate, or to purchase any business if deemed necessary or beneficial to my estate by my Executor.
To maintain, settle, abandon, sue or defend, or otherwise deal with any lawsuit against my estate.
To employ any lawyer, accountant, or other professional.
Except as otherwise provided in this Will, to act as my Trustee by holding in trust the share of any minor beneficiary, and to keep such share invested, pay the income or capital or as much of either or both as my Executor considers available for the maintenance, education, advancement, or benefit of such minor beneficiary, and to pay or transfer the capital of such share or the amount remaining of that share to such beneficiary when he or she reaches the age of majority or, during the minority of such beneficiary, to pay or transfer such share to any parent or guardian of such beneficiary subject to like conditions. The receipt of any such parent or guardian discharges my Executor.