answersLogoWhite

0


Best Answer

If the estate contains enough assets to settle all of the debts, they can. Also, the executor is, by law, entitled to be paid for their time. The rate is often set by law and the probate judge has to approve the distribution. If they have properly documented their time, it is reasonable to bill the estate and collect it.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can an executor who is also a beneficiary get money from the estate while still in probate?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Do you as beneficiary have the right to ask for bank statements and ask the appointed executor to be accountable for all money coming out of the estate prior to probate?

That is the duty of the executor, to be accountable for all distributions from the estate. They have to answer to the court.


Can i take a death certificate to a bank and retrieve money from the deceases' account?

No. You need proof that you are the executor of the estate.


Does insurance money need to go to estate when deceased?

No, the insurance money goes to the beneficiary named in the policy. If the beneficiary is not named, or the estate is named, it will go into probate.


Can executor and beneficiary be the same?

Yes, that is often the case when a spouse dies. It saves the estate money.


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 a property be forced on a beneficiary?

Yes. Any person who has an interest in seeing the decedent's estate opened can force probate of the will or the grant of administration if there is no will. A person has an interest if he is owed money from the estate on a debt or because of a gift in the will or for any other matter that an executor/administrator might have to do. Sometimes this interest includes forcing probate in order to give or pay something to an estate as long as an executor is needed to accept the item or payment. There are different court procedures enabling an interested party to force probate, depending on the state involved.


An executor is sending my husband a letter Is he a beneficiary?

If an executor is sending your husband a letter, it is likely that he is a beneficiary or that he is required at the signing of some type of paperwork. He might also owe money to an estate.


After an estate is closed how long does it take to get your money?

The length of time for probate vary by county and state to state. But, mostly it depends on the executor as to how efficient they are in doing their duties after the probate process is complete. Find out who the executor (or admnistrator) is and ask them how long it will be before they start distributing the estate. ( You can find out who the executor is by viewing the will at your local Probate Court.)


Can an executor place a house for rent that is still in probate?

This question has two potential answers depending upon whether the executor is the one renting the property or the beneficiary designated to receive it under the will is renting the property. If you mean rented by the executor, it may be at any time as soon as the will is probated and an executor is appointed to act. (Or an administrator if there is no will.) Most states have a statute taken from the Uniform Probate Code that gives the executor possession and control over every asset of the estate during administration of the estate even to the exclusion of beneficiarires who are designated to receive the property. During administration only the executor may rent it out, but the executor retains the discretion to decide if renting it is beneficial to the estate. Thus, even though an executor has the power to rent it out, he or she does not have to do so and cannot be forced to do do by a beneficiary unless a court orders it. If you mean rented by the ultimate beneficiary, the beneficiary cannot rent it out until the executor formally transfers the property from the estate to the beneficiary even if the will explicitly gives the house to that beneficiary. Once it is transferred, it is no longer part of the estate and the executor has no legal right to possession or control, therefore no right to rent it out or refuse to rent it out. The transfer to the beneficiary might have to wait until final settlement of the estate just to make sure that it does not have to be sold to pay for debts or expenses. On the other hand, if an executor is reasonably certain that it is not needed for that, the executor may in his discretion transfer the property before finalizing the estate. I believe it is best to transfer the house as quickly as possible during administration as long as it is clear that there are sufficient liquid assets to pay for everything. That way the executor is no longer responsible for the safety of the asset and he or she has a happy beneficiary.


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.


How can you get a copy of the executor you lost your paperwork making you the executor and you need this for a company to get money that is entitled to the estate?

You can obtain a certified copy from the court where the probate was filed.