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interim distribution
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∙ 14y ago
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After probate has been granted do you have to wait for the property to be sold before you can distribute any money from the deceased bank account to beneficiaries?
In the UK: No. If you are confident no claims will be made against the estate and or you have waited the statutory period before distribution then you can make an interim distribution. It is wise to hold some funds back however in case the house does not sell for a long period of time and estate funds are needed for repairs
Will you have immediate access to the funds in an estate account?
The executor will have access to the funds, but only for paying the bills of the estate. Money cannot be distributed until the court approves the distribution plan.
Must the debts of the deceased be paid out of insurance funds prior to the distribution?
If the insurance is made payable to the estate then the debts of the decedent must be paid before any distribution to heirs is made.
Where can someone find information on real estate funds?
Visit Remaxstar Estate Agents Ilford for details about real estate funds. They provide insightful advice that is helpful. For thorough information about real estate funds and investment alternatives, visit estateagentsilford.co.uk.
Should a claim against a will be paid from estate funds?
That is what the estate funds are for. If the claim is legitimate, it needs to be paid.
Is the money market money added to the Estate in MD?
For tax purposes, money market funds are added to the taxable estate. For distribution purposes, money market funds will be added to the estate unless the account has a testamentary instructions e.g. Ownership is "Mom payable on death to Son" or "Mom and Son, joint with right of survivorship". The testamentary instructions would control the asset.
I have a full accounting of the estate funds and the executor took money from the estate how do get this money back from the executor I am a beneficary?
The executor is entitled to be paid for their work. The court has to approve the distribution and the fee they charged, which is often set by law. If the estate has been closed, you can sue the executor if they breached their fiduciary duty.
Can a co-executor delay distribution of funds indefinitely?
No. They are required by law to settle an estate with expediency. If the executor, or co-executor, is delaying the distribution for no apparent reason they should be reported to the court. They can be replaced.No. They are required by law to settle an estate with expediency. If the executor, or co-executor, is delaying the distribution for no apparent reason they should be reported to the court. They can be replaced.No. They are required by law to settle an estate with expediency. If the executor, or co-executor, is delaying the distribution for no apparent reason they should be reported to the court. They can be replaced.No. They are required by law to settle an estate with expediency. If the executor, or co-executor, is delaying the distribution for no apparent reason they should be reported to the court. They can be replaced.
What is meant by the term immobilienfonds?
Immobilienfonds means real estate funds. This is a German word which several real estate and legal structures, which may be referred to as real estate funds.
Can an executor access stock funds to cover funeral expenses?
The stock funds would be a part of the estate. They can be sold to cover estate debts.
Explain what it means to appropriate funds?
Appropriate funds = Stealing
Can we discuss a problem on an estate payout which was handled wrongly by the solicitor The estate property was sold and the funds duly distributed to the named parties in the will Then three months?
You need to consult with a solicitor who specializes in probate law who can review your situation and explain your options.
