What happens when all executors die? The estate continues. An estate does not fail for lack of the executor.
There would have to be an administrator c.t.a. acting for the estate. C.t.a. is an abbreviation for a latin phrase cum testamento annexo, which translates as “with the will annexed.” Administrator c.t.a. is an administrator with the will annexed.
The new administrator would have to follow the terms of the will.
If the will provides for a successor executor, then the successor executor becomes the acting executor.
If the will does not have a successor executor, one can check if the will provides for a way to have an executor selected. For example, a will can say that the beneficiaries can get together and install an administrator.
If the will does not have a way to appoint a new executor, then the beneficiaries can make an application to the court to appoint an administrator c.t.a.. The court would typically appoint one of the beneficiaries as the administrator c.t.a., if the beneficiaries can agree on which one it’s going to be. If the beneficiaries cannot agree, then the court would appoint an independent third-party administrator c.t.a. of the court’s choosing.
What happens when all executors die? It depends on the language of the will and whether or not the beneficiaries of the will agree who becomes the administrator c.t.a..
If you are looking for an attorney to handle your estate matter, you can call Albert Goodwin, Esq. at 212-233-1233.