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Can an executor who is also a beneficiary in a will step down as executor and disclaim his inheritance even though the will has not been executed after ten years?
Wiki User
∙ 14y ago
The will should have been filed in probate when the testator died. It is unclear from your submission whether the executor was appointed by the court. An executor has no power to act until they have been duly appointed by the probate court. Once appointed by the court the executor has the authority to settle the estate according the the provisions of the will, state laws and, very important, under the supervision of the court.
If the court appointed executor doesn't perform their duties with expediency the beneficiaries can petition the court to have them removed and a successor executor will be appointed. In this case it sounds as though no one was concerned with a proper probate of the will if ten years has passed, someone thinks they are still the "executor" and the estate isn't settled. It would be interesting to know if indeed the will was ever properly filed for probate.
Wiki User
∙ 14y ago
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Can executors renounce in favor of a family member who is not a beneficiary in the will?
The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.
Can the executor benefit from the will?
Yes, the executor can also be a beneficiary of the Will. Also, in most jurisdictions the executor can be paid from the estate for their services up to a certain amount that is generally set forth in the probate laws.
Can an executor of a will demand the beneficiary to fulfill what is on the will and testament?
The executor is responsible to the court to ensure that the will is properly executed. They can request the beneficiaries meet the requirements set in the will or without the bequest.
Is the beneficiary also the executor of the life insurance?
No. They are separate. Beneficiaries are those who are entitled to an inheritance. The Executor carries out the will. * A person(s) named as a beneficiary on a life insurance policy receives the money directly from the insurer. Such policies are not subject to probate procedure.
Can executor also be a beneficiary from will?
Yes. An executor may also be a beneficiary.
Can an executor be beneficiary of a will in CT How can an executor be removed by an heir?
Yes, the executor can be a beneficiary. The court may remove an executor at the request of the beneficiaries.
How do you calculate executors compensation when you are also a beneficiary?
The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.
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.
Can a beneficiary that couldn't be found during probate period collect on inheritance after probate closes?
Yes. That beneficiary's portion should have been deposited with the court or in an interest bearing bank account. It should be waiting for him. There are many reasons a beneficiary may not be able to be found at the time of a probate of an estate. That's no reason to squander their inheritance. He would have a cause of action against the executor if his inheritance was not accounted for.
Can an adult child be an executor and a beneficiary?
An adult child can be the executor. They can also be a beneficiary. They are required to be impartial when distributing the estate.
Can my sister as the executor be a beneficiary?
No. Only the court can appoint an executor. You could petition the court to name your sister as co-executor but make certain you provide a good reason to support your request.
Is the beneficiary of a deceased person usually the executor?
It is relatively common to for a beneficiary to be executor. They are more likely to get the estate closed quickly.
