No, you cannot be forced to accept a bequest. You can decline and the money will go to the other beneficiaries.
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.
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.
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.
The fee paid to the executor is considered taxable income.
It will depend on the documentation and when the debt was incurred. The executor can bring suit on behalf of the estate.
Yes. The executor should be reported to the court immediately.
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.
No. The executor gets no commissions. They get paid a fee set by the state.You need guidance from the attorney who is handling the estate. An executor is personally liable for mishandling estate property or funds.
An executor is charged with acting in the best interests of the deceased and adhere to the stipulations of the will. An executor may acquire money from the estate if: 1. there are specific stipulations in the will that the executor is entitled to funds as compensation for their efforts. 2. The executor is a named beneficiary of the will, a situation that often happens with couples.
The executor cannot refuse to pay properly documented debts. They do not have to pay them personally, the money comes from the estate. If there isn't any money, they show the court the assets and distribution and the estate is closed.
The money belongs to her estate. The executor of the estate will distribute it according to the will.
Not without breaching their fiduciary duties. It would be irresponsible of the executor to do so. It could land them in trouble.