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Can an executor hide money from her mother's will that is supposed to be divided three ways?
Wiki User
∙ 15y ago
Once a probate is filed it becomes a public record allowing you to monitor every action taken by the executor. She is obligated to file an inventory with the court. You can review the inventory she filed and see if you think it's complete. If she hasn't filed one then complain to the court or to the attorney who is handling the estate. Once the probate process has been completed the executor is required to file an account with the court that shows the disposition of all the property that was listed in the inventory. AT that time the heirs will be required to sign a release and assent to the account. Stealing from an estate is a very serious violation of the law and will generally show up at some time during the probate process.
Wiki User
∙ 15y ago
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What are executor's fees in Florida?
The executor's fees in Florida may vary. However, generally the executor's fees in Florida are around 1.5-3% depending on the amount of money.
Can an executor borrow money from the estate?
Not without breaching their fiduciary duties. It would be irresponsible of the executor to do so. It could land them in trouble.
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.
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 to handle money owed by decedent to the state?
The executor should pay the bill. If there isn't enough to pay it, the state may not get their money.
If your the executor of a will and you find the bank account has Pay upon death on it and it is not the executor who pays taxes on that?
I have been the executor of my mothers money, I pay her nursing home bills with it, she just died and i have 200,000 dollars left, do I have to pay tax on that money.
If you are supposed to receive inheritance money from a will but it doesn' state the age you are supposed to get it do you automatically get it when you turn 18 or does the will holder get to decide w?
When you become an adult, you are entitled to the money. The executor has no choice but to distribute the money.
Are you able to draw money from your deceased mothers estate before probate is complete?
The executor is capable of doing so. As long as it is obvious that all the debts can be resolved, the executor can make distributions.
Can your sister who is listed as an executor along with you also as an executor try to have you removed as an executor on your mothers will?
Yes, she can petition the court to be the sole executor. If there is conflict, the court may very well appoint a third party, a bank or attorney, without a vested interest in the estate. This typically costs the estate money in the form of compensation to the executor.
Can an executor sell a family home that has to be shared and shared alike by 6 siblings?
Yes, the executor may sell the home. The money would be used to pay debts and taxes. The remainder would be divided according to the will.
What happens if a sibling is left in there mothers will as a co-executor but still owed her money on a loan from her?
If the loan is properly documented, the loan counts against their share of the estate. If there is not enough money in the estate to pay off the debts, they will have to repay the loan.
Are executor fees taxable income if the deceased was a family member and the executor was also a beneficary?
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
How can you get the money from your deceased mothers checking account?
The executor of the estate can close and empty the bank account. Distribution will be in accordance with the will. Consult a probate attorney in your state. You have to wait until the will goes through probate.
Can executor hold back monies when will says estate divided by heirs equally?
The executor can hold back some of the money. This is often done to make sure that all tax liabilities have been satisfied. There may also be court costs and other debts to settle.
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.
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.
Is it unlawful of executor to spend estate money like its theres?
Yes. The executor should be reported to the court immediately.
