They can do so if they wish. But it would be a breach of their fiduciary duty and their duty to the court. It could result in criminal charges.
File a lawsuit against the executor for not following the law.
Yes.
The most common charge would be fraud. Another is breach of fiduciary duties. The court can request a full accounting from the executor.
It would depend on the laws of the specific jurisdiction and the specific circumstances of the situation. Generally, heirs or beneficiaries may have a claim to unclaimed funds, but it is best to consult with a lawyer or probate court to determine your rights in this situation.
Yes, an executor can withhold such funds, but they should be placed in trust for the benefit of the demented, perhaps under various spendthrift conditions or whatever is deemed necessary for protection of the gift. Whether the executor names you as trustee is his or her choice, but you will still have the powers of the POA once the trustees release the funds to you.
Of course not.
The executor of a probated will should distribute the proceeds of the will after it is settled in probate court. Some states have laws in place that state a certain time limit for the funds to be issued to heirs.
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
The executor is not personally liable. They are required to use the estate funds to resolve bills.
Depends on the case. In the irrevocable trust or a trust after the person dies neither are revocable. If the executor doesnt act properly they can be removed by a judge. Once all of the funds are giving out of the will there is no longer a executor.
they are not a deductable amount. You can claim expenses as an executor against the estate funds. However, if you do claim executor expenses against the amount of the estate they are taxed as income for the person claiming them.
The stock funds would be a part of the estate. They can be sold to cover estate debts.