0
Not without breaching their fiduciary duties. It would be irresponsible of the executor to do so. It could land them in trouble.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If you are the executor of an estate and owe money to a lien holder can they go ofter money in the estate?
No. A personal creditor of yours has no right to attach the estate for which you are the executor. However, if you are also a beneficiary of that estate the creditor can go after your portion of the distribution.
How do you get the money your parents willed to you?
First the will must be filed for probate and an executor must be appointed. After the payment of the debts of the estate the executor must make distribution of the remaining estate according to the provisions in the will and the state probate laws. The executor acts under the supervision of the court and must settle the estate with expediency.
Can executor get money back from out of pocket expense?
The executor can make a claim against the estate for expenses. The probate court will have to approve. The expenses have to be reasonable and normal.
When does an executor of a will get paid by the estate if they have to pay outstanding bills left by decedant?
The executor should never pay the bills themselves. They should have the estate do it. Yes, with proper receipts, there should be no problem with getting the money back.
Is the executor respondsible for debt when there is no money left in the estate?
No. The estate is responsible for the decedent's debts.However, debts must be paid before any property can be distributed. If there isn't enough money in the estate the debts must be paid in the proper order which is set by law in each state. The court appointed executor IS responsible for following the law in the settling of an estate.If there are debts and no estate the estate is declared to be insolvent and the creditors are out of luck.
Can an executor borrow money to pay a debt of the estate until the property of the estate is sold?
Generally, the executor must petition for a license from the court to mortgage the property unless that power was granted in the will.
Can executor borrow money from the estate if they are the sole beneficiary?
Yes. I don't think 'borrow' is the right word, however, as the sole beneficiary will be entitled to the entire estate. An 'advance' would more likely be the correct term.
Can an executor borrow money from the estate checking account with intentions to pay it back within a couple of weeks?
Not without breaching their fiduciary duties. It would be irresponsible of the executor to do so. It could land them in trouble.
Is the executor of an estate paid on full value of house or what is owed?
The executor's fee is based on the value of the estate. Money owed is not a part of the estate, it is a claim against the estate.
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.
If you are the executor of an estate and owe money to a lien holder can they go ofter money in the estate?
No. A personal creditor of yours has no right to attach the estate for which you are the executor. However, if you are also a beneficiary of that estate the creditor can go after your portion of the distribution.
Can the executor of an estate borrow against the estate with the informed consent of all beneficiaries?
Yes, as long as all beneficuiaries agree. It is a simple loan agreement.
As an executor of an estate you received money do you pay taxes on it?
The fee paid to the executor is considered taxable income.
Can one be an executor of probate but not the estate?
There is no executor of probate. The executor of the estate executes the will and probates the estate.
Can an executor sue a ex spouse who owes money to estate after 10 yrs?
It will depend on the documentation and when the debt was incurred. The executor can bring suit on behalf of the estate.
Is it unlawful of executor to spend estate money like its theres?
Yes. The executor should be reported to the court immediately.
What is the executor of estate for the Titanic?
What is the executor of the estate for the titanic?
