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Executor owed the deceased money but he indicated that deceased had told him he could keep any outstanding balance owing upon death does he have right to keep the money instead of returning to estate?
Mkircal
The executor is responsible for collecting all debts owed to the estate. If the deceased did not write such intentions down it must be assumed that the debt is still owed. If the Executor is the one making false claims, other benificiaries may want to consult with a lawyer, especially if the estate is substantial.
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∙ 18y ago
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Does the person named by the deceased as administrator of will have to file the will?
Yes, the person named by the deceased as administrator of the will is called the executor. The job of the executor is (out of the deceased's estate) to settle all the deceased outstanding debts and pay for the funeral. Then the executor adds up everything in the deceased's estate, pays any outstanding taxes and any inheritance taxes that may be due and presents the account of all this along with the will to a special court called a probate court. If the court is happy with what has been done the executor is then granted a probate document which allows him dispose of the remainder of the estate as the person's will instructs. Without the deed of probate, companies like banks and stockbrokers will not accept the executors instructions to do things with the deceased's property.The filing of the will is the act of presenting it (and the accounts) to the probate court.
The Executor in a Will is deceased. Can a sibling of the deceased now be appointed?
The court will look at the Will to determine if an alternate executor is named. If not, then the state probably has a list of people, in order, who should be named as administrator of the estate. Relationship to the deceased executor is irrelevant.
Can a cousin be an executor?
Certainly. Anyone can be named an executor of an estate, whether related to the deceased or not.
How do you find out who the executor of your grandmas unclaimed money is when she did not have a will?
If your grandmother is still living, you can't. If she is deceased, the executor of the will is required to notify you if you are in the will. If there is no will, and your parents are deceased, then you should contact the probate court and/or executor.
What can an Executor of an Estate do?
They follow the instructions of the deceased has laid out in their will.
How do you get a copy of deceased will in NY?
Contact a valid executor to the will.
Who protects a deceased person's property?
The executor of the estate.
How do you get appointed executor?
either by the deceased in the will or by the probate judge
Can executor sell car of deceased in Montana?
That is their responsibility.
Does the executor of a will have to pay for outstanding debts of a deceased parent if there is no money or property to sell?
The estate is responsible for the debts. The debts must be paid by the executor before any assets can be distributed. If the executor distributes any assets while the debts are outstanding, she/he may be personally liable. If there are no assets the estate is declared insolvent and the creditors are out of luck.
Who is an executor in a will?
It is the person named by the deceased (prior to their death, of course) in their will to carry out the provisions of the deceased's will. The executor must be appointed by the probate court in order to have any legal authority.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
