Executor/Personal Rep

[Summr]

Jurisdiction

Florida

Is a person who is named in a will as executor and excepts the position, but not appointed by a court because the estate goes to summary administration, not formal, still legally bound and responsible to and for the estate, beneficiaries and their inheritance?

Am I correct in assuming the decedent's homeowner's insurance company must be notified otherwise the policy would be null & void? So, if an exec overlooks this and the home were to be destroyed by weather or fire, etc., while the estate is still in probate, home still titled in the decedent's name, would the exec be responsible for making up the loss of the inheritance?

Thank you.

 

[flyingron]

A person who is nominated as the executor in the will has no authority and no responsibility until a court says so (and I assume you meant accepts rather than excepts).

The executor should indeed contact the insurer, but that shouldn't have anything to do with the validity of the policy. They should do so to make sure the premiums are paid and to handle renewal of expiring policies. It is important in all circumstances but doubly important in the case that the property was financed. If the lender finds that the policy expires, they will place their own (very expensive) insurance on the property to protect their interest and that will become a debt that the estate will need to deal with.