0
Is an executor entitled to a commission on the estate if the home is left to him and the money is to be distributed among 3 siblings?
Wiki User
∙ 14y ago
No. The executor gets no commissions. They get paid a fee set by the state.You need guidance from the attorney who is handling the estate. An executor is personally liable for mishandling estate property or funds.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Oldest brother is executor of family estate however he is ill and the remaining 4 siblings want to assign the decision making regarding heir property to next oldest brother What do they do to transfer?
There is no executor until one is appointed by the probate court. You need to petition the court that appointed your oldest brother as executor and request he be removed and a successor appointed. Then, the estate should be settled and the property distributed as provided in the will.
Can an executor get any of the computer equip he wants before the siblings?
The executor is supposed to execute the terms of the will. If the will says that "person X" gets any computer equipment of the decedant's that he wants, with the remainder going to the siblings, then person X gets it, whether person X is the executor or not. If it says the computer equipment goes to "the siblings", then that might be a gray area if the executor is one of the siblings, but usually an equitable distribution is implied, so the executor can't say "I'll take the Cray YMP, and you can have the Apple II". An executor who violates the terms of the will is acting in bad faith, and you should retain a lawyer to file a complaint with the probate court.
Can an executor deny siblings to look at the financial books?
The executor must file an account that lists all the assets of the decedent both real and personal property. That means all bank and investment accounts, vehicles, furnishings, art, jewelry, etc. That inventory is public and you can request the probate file and examine it. If you think the executor has not done a thorough listing all the assets then complain to the court. The executor will later be required to file an accounting to the court detailing how all those assets were distributed.
Does an executor need signatures from his siblings to release his property share?
The person named as the executor of a will does not need the signature of siblings to perform this function UNLESS they too are named as executors in which case the signatures of ALL the executors are required to dispose of the estate.
What if executor refuses to pay siblings on legal will drafted by an attorney very clear as to money being paid exactly as per will. Executor has history of abusing siblings Refuses to obey.?
First: A person is not an executor until they have been appointed by a court. Once appointed, the executor is under the jurisdiction of the court and can be reported and removed for a failure to carry out their duties quickly, efficiently and according to the law. You should petition the court to remove and replace the executor.
What should yo do if the executor of will wants to buy siblings out but not fair price?
Petition the probate court for a new executor. They will most likely appoint a neutral party.
Can an executor of an estate take things from the home without consent from the other siblings?
The executor has full rights to properly execute the will. All distributions must be cleared by the court.
Can the executrix live indefinitely in the house pay the mortgage without selling or assuming the mortgage even if the 3 other siblings may get money until the house does get sold for enough profit?
No. First, the executor has absolutely no authority until the will has been submitted to the probate court and she has been appointed the executor by the court.Once the executor has been appointed they have the obligation to settle the estate as expeditiously as possible. She cannot take over the property and live there indefinitely. The other siblings should consult with an attorney who specializes in probate law and hire them to probate the estate. If that sister is named the executor in the will, they can object to her appointment due to her behavior and they can choose one of the remaining siblings to petition for appointment.No. First, the executor has absolutely no authority until the will has been submitted to the probate court and she has been appointed the executor by the court.Once the executor has been appointed they have the obligation to settle the estate as expeditiously as possible. She cannot take over the property and live there indefinitely. The other siblings should consult with an attorney who specializes in probate law and hire them to probate the estate. If that sister is named the executor in the will, they can object to her appointment due to her behavior and they can choose one of the remaining siblings to petition for appointment.No. First, the executor has absolutely no authority until the will has been submitted to the probate court and she has been appointed the executor by the court.Once the executor has been appointed they have the obligation to settle the estate as expeditiously as possible. She cannot take over the property and live there indefinitely. The other siblings should consult with an attorney who specializes in probate law and hire them to probate the estate. If that sister is named the executor in the will, they can object to her appointment due to her behavior and they can choose one of the remaining siblings to petition for appointment.No. First, the executor has absolutely no authority until the will has been submitted to the probate court and she has been appointed the executor by the court.Once the executor has been appointed they have the obligation to settle the estate as expeditiously as possible. She cannot take over the property and live there indefinitely. The other siblings should consult with an attorney who specializes in probate law and hire them to probate the estate. If that sister is named the executor in the will, they can object to her appointment due to her behavior and they can choose one of the remaining siblings to petition for appointment.
Do siblings have rights to see or have copies of the will and or disbursements happening as executor.?
Once a will has been filed for probate it becomes a public record. You can go to the probate court and request the file. Then you can review the will, make copies if you wish, and monitor the actions of the executor.The executor is required to file an inventory with the court listing all of the real and personal property belonging to the decedent at the time of death. After the property is distributed according to the will the executor must file an account for the court, detailing where all that property went.
If there are 3 siblings appointed as executors and 1 disagrees what happens?
I am assuming that the oldest executor will take charge
What should you do if executor of mother's will wants to buy siblings out but not at fair price?
Do not sell to them. They can also apply to the court to have a neutral executor appointed. All valuation should be at a fair market price.
How do siblings file for parent assets after death with no will?
Petition the court to open the estate. They can ask that one of the children be appointed as the executor. The court will issue a letter of authorization to the executor to inventory and clear out the estate.
