0
A beneficiary is being difficult and won't accept his small inheritance. What does a court expect the executor to do to fulfill his obligation concerning the distribution?
Wiki User
∙ 14y ago
The executor must distribute the estate according to the provisions in the will and the state probate laws. Any time an executor encounters a difficult situation that involves not being able to follow the provisions in the will (such as not enough assets to pay debts and legacies) the executor can explain the situation in a motion to the court and ask for a ruling. The court will review the problem, apply state law and render a decision that instructs the executor how to handle the situation. The decision protects the executor from any future claims of malpractice as the executor.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If you live Outside the US do you still have to pay an Inheritance or Estate tax?
If the estate is so large that an inheritance tax is due it must be paid to the IRS and to the state where the decedent's estate was probated. The tax obligation has nothing to do with where the beneficiary lives.
What is financial guarantee?
applicant having obligation to pay the beneficiary (for example, beneficiary supplies goods to applicant). in this applicant is obliged to pay the amount for the goods supplied by the beneficiary. This is purely financial obligation.
Does the beneficiary have to pay bills left by the insured?
Beneficiary's obligationThe beneficiary has no legal obligation to pay the bills solely in the name of the insured.
Who issue performance bond?
A performance bond is generally entered by a financier, on behalf of an account party, with a beneficiary to secure the performance of that account party's obligation to the beneficiary arising from an underlying contract or instrument.
Can a beneficiary on life insurance refuse the responsibility?
It is not a question of refusing responsibility. The beneficiary is the person or institution designated to receive proceeds upon the death of the insured. He/she/it has no obligation to pay future premiums. However, the beneficiary is free to decline the proceeds in which case they will be paid to a contingent beneficiary listed in the policy; in none, the proceeds will be paid to the insured's estate.
Is there a tax obligation for a trust beneficiary?
Generally, income from a trust must be reported. You should speak with a tax professional at tax time.
If you are say a year into a 60 month chapter 13 bankruptcy and you receive a small inheritance not enough to pay debts what is your obligation?
Your obligation is to let your attorney and/or bankruptcy trustee know about this. They will decide if the asset needs to be divided among creditors or included in your payments.
Who is the owner of a life policy?
The owner of a life insurance policy is the person or corporation who initiated the application. As an owner, you have the obligation of paying the premiums on time and you can also specify and change the beneficiary whenever you want.
If you die and you still have outstanding loans can they take your life insurance to pay everything off?
Life insurance paid to your estate could possibly be used to pay off personal debt. However, if the life insurance is paid to a beneficiary, it is their money, not yours, so the beneficiary has no obligation to use the money to pay off your debt.
Are there any legal contracts on binding a beneficary who has little to no relationship to the deceased to divide the insurance money between his children and the beneficiary?
I'm not an expert and I don't know what state you are in, but I would guess that whoever is named as the beneficiary on an insurance policy has absolutely no obligation to divide the money with anyone, including the children. You should probably consult with an attorney in your state.
Is the beneficiary obligated to share estate equally with other children if they are not in the will?
No. Had the person who wrote the will wanted them to benefit they would have been mentioned. However, if the intention is to share the estate, check with the executor whether such distribution would negate the bequest.
What has the author Garnett W Quillian written?
Garnett W. Quillian has written: 'Concerning birth control, the physician's obligation' -- subject(s): Birth control, Study and teaching
