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Can an executor choose not to make a disbursement to an heir if they themselves are an heir and take a disbursement from the estate?
Wiki User
∙ 12y ago
They must follow the distribution plan as provided in the will or by the law of the state. They cannot favor one beneficiary over another unless the beneficiaries agree. An executor is entitled to be compensated for their work, but they must have the approval of the court on the distribution.
Wiki User
∙ 12y ago
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Does the executor work for the beneficiary?
No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.
Who can be the executor of the estate?
Anyone that is of legal age can be an executor.
Does the executor fee continue as long as the estate has property?
Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.
Can you benefit from the will if you are the executor?
Yes, nothing prohibits the executor from receiving part of the estate. In fact, it is more common than not for the executor to receive something, as for example, where a husband leaves his estate to his spouse and makes her his executor.
Can the executor of an estate set the price of the real estate of the estate?
In New York an Executor can set the price of the real estate of the estate. However the price should be close or at the market value. Oftentimes in New York an Executor must have the sale approved by the Court. The Court will then look to see if the price is reasonable. The Executor will have to submit various documents to support his request to sell the real estate at the price s/he he set (i.e. appraisal, tax assessment, etc.) So, the answer is yes the Executor can set the price, but oftentimes subject to the approval of Surrogate's Court.
How are beneficiaries notified that they are in someones will?
The executor of the estate will review the will and contact any person indicated for a disbursement.
Can a co-executor choose to drop out after a year and a half without the knowledge of the other co-executor?
No. The co-executor must file a resignation with the probate court in order to free themselves of any obligations and responsibilities in the estate and to notify the world they will no longer be serving as co-executor.
How should you choose an executor for your will?
Select an executor for your will based on trust and relationship. A family member can execute the estate or you can choose two people to be co-executors. Lawyers can do it but they will likely charge the estate a percentage.
Can a sibling claim themselves as executor of your parents estate without your consent if there isn't a will?
They can't claim to be the executor, they have to be appointed by the court, otherwise they have no legal standing to do anything with the estate. And you have the right to object to their being appointed executor.
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.
What is the executor of estate for the Titanic?
What is the executor of the estate for the titanic?
What does it mean to be the executor and a heir?
It means they are responsible to administer the estate. They will also receive some of the estate as an heir.
Can an executor file a claim against the estate in Kentucky?
Since the executor has the authority to handle the assets of the estate, pay any debts, and collect a statutory fee for their services before the legacies are paid the executor would have no reason to file a claim against the estate. They would be filing a claim against themselves in their capacity as the executor. You need to provide more details.
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 oldest child normally executor of estate?
No, the oldest child is not automatically designated as the executor of an estate. The executor is typically chosen by the individual in their will or appointed by the court based on state laws. It is important to select an executor who is capable of handling the responsibilities involved.
What is the estate executor fee in Arkansas?
what if the estate executor fee in arkansas
Does the executor work for the beneficiary?
No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.
