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What are the obligation of an executor to the heirs of an estate?
Wiki User
∙ 13y ago
To insure that the estate is settle correctly and efficiently to maximize the heirs inheritance and to provide clean title to property. A full accounting of the estate and its assets must be produced.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoThey have a fiduciary duty to them. They have to provide a full accounting to them and to the court. They are required to keep the assets of the estate in a safe manner.
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What recourse do the heirs have when the Propriety has sold the money is in the bank but the executor refuses to distribute the money to the heirs?
If the period during which creditors can make a claim has passed, generally, the heirs can submit a motion to the court to compel the appointed executor to make distribution. The executor has a legal obligation to perform all their duties in a timely manner. If the executor isn't doing that then complain to the court or to the attorney who is handling the estate.
Can an executor of an estate refuse to lower the price of house in the estate when the other two heirs request that it be lowered?
The heirs cannot tell the executor what to do. If they have a complaint regarding the handling of the estate they must file it with the court and request a ruling.The heirs cannot tell the executor what to do. If they have a complaint regarding the handling of the estate they must file it with the court and request a ruling.The heirs cannot tell the executor what to do. If they have a complaint regarding the handling of the estate they must file it with the court and request a ruling.The heirs cannot tell the executor what to do. If they have a complaint regarding the handling of the estate they must file it with the court and request a ruling.
Do heirs have to pay back a loan taken out by the executor?
No. If an Executor takes out a loan it has nothing to do with the estate he is executing.
What debts will be the responsibility of the heirs to your estate?
None of the debts are the responsibility of the heirs. The debts are the responsibility of the estate. The executor must settle all, or as many as possible based on the assets of the estate, before they can distribute any of the the estate to the heirs.
Can legal action be taken against an executor of an estate if he does not follow wishes of heirs?
The executor is required to execute the terms of the Will, or follow the laws of intestacy (if there was no Will), not comply with the wishes of the heirs.
Does a majority vote of heirs in an estate override an executor?
No. Not unless that power was granted in the Will. Otherwise, an executor is appointed in an estate in order to avoid such types of interference by the heirs. The court appointed executor has the legal authority to carry out the provisions in the Will and according to the probate laws for any property not mentioned in the Will. The heirs generally have no say in those matters.
What can you do when all heirs to an estate are willing to sell the property except for one and he is the executor of the estate?
The executor is the person responsible for the estate. That includes making sure the property is sold for a proper amount.
Should the executor provide all estate business to all sibling heirs during probate in order for each to make informed decisions about the estate and sale of deceased parent's home?
No. An executor is the person who has been officially appointed to settle the estate. The executor does not answer to the heirs and they do not direct the actions taken by the executor. They do not need the permission or involvement of the heirs. Although the executor may, at their discretion, encourage the interested parties to express an opinion regarding the sale, the executor has the legal power and authority to make the final decision.
What information should be included in a letter from the estate executor to the heirs or beneficiaries of an estate?
Only you know what you want them to know.
What if the executor does not want to sell a house in the will?
There is no problem if the debts of the estate have been paid and the executor is the sole heir. However, if there are other heirs who want to sell the property and take their share of the proceeds the executor must buy out the interests of the other heirs. Otherwise, the heirs are entitled to a sale of the property and can file a petition for partition if the executor will not act.
Is an executor obligated to keep heirs informed of court proceedings of estate?
An executor is obligated to keep heirs informed of court proceedings of an estate. Information should be sent by first class mail or certified return receipt for proof of notification.
Does the executor of the will have the right to rent the property to a 3rd party without all heirs concent?
The executor has the duty to preserve the estate in all aspects, including making money for it. The heirs' consent is not necessary.
