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Yes that is their main job. If there is a will it should tell the executor where and when to dispurse the funds.
A:
Yes, but only in accordance with the terms of the will or where applicable, the rules of intestacy.
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∙ 13y ago
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If the estate does not pay card balances that are small from an estate and funds are dispersed what can happen?
The executor of the estate may be liable for the debt.
How long does an executor of a trust have to disburse the money to an heir?
An executor is the term used for the person who has been appointed by a court to settle an estate. The person who can act for a trust is called the trustee. You should review the terms of the trust for provisions as to when the trust property must be distributed. If you think the trustee is not distributing the funds in a timely manner you should file a complaint with the court where the estate or trust was filed.
Is there a time limit the executor must disperse funds from an estate?
There is no time limit to settle an estate. It can be very complicated and take many years to resolve and settle.
Can the estate recover funds from overpayment to heirs?
It is probable that there will be different laws relating to this in different countries so you really need the services/advice of a lawyer (attorney). However, basically it is the executor's (the person named in the will to execute the will) job to settle the estate's debts and distribute the remainder of the estate to the heirs as set out in the will. If there has been an overpayment or mistake made by the executor then the executor would possibly be personally liable to correct the mistake (especially if the executor was a professional). Recovering funds once they have been paid out would not be a likely course of action.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
Is a bank supposed to refused to pay accumulated salaries in a deceased person's bank account to applicants?
Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.
Can executor be prosecuted for embezzlement of estate funds?
Yes.
Can you collect money from your dead fathers unclaimed funds if your step mother was the estate representative and she has since remarried?
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.
Can an executor use estate funds to buy anything they desire?
Of course not.
Can an executor access stock funds to cover funeral expenses?
The stock funds would be a part of the estate. They can be sold to cover estate debts.
If the estate does not pay card balances that are small from an estate and funds are dispersed what can happen?
The executor of the estate may be liable for the debt.
Is a executor liable for any bills?
The executor is not personally liable. They are required to use the estate funds to resolve bills.
Can an executor fix home with estate funds?
If the home is a part of the estate, they certainly may do so. The executor is responsible for all the assets of the estate. That would include reasonable repairs to a home.
How long does an executor of a trust have to disburse the money to an heir?
An executor is the term used for the person who has been appointed by a court to settle an estate. The person who can act for a trust is called the trustee. You should review the terms of the trust for provisions as to when the trust property must be distributed. If you think the trustee is not distributing the funds in a timely manner you should file a complaint with the court where the estate or trust was filed.
Are executor expenses tax deductible?
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.
Why would an executor of an estate be revoked?
Failure to comply with the court's directives. Embezzling the funds of the estate. Resigning from the position.
Is the executor responsible for the lawyers fees?
The estate is responsible for attorney's fees. The executor is responsible to pay the debts of the estate before any property can be distributed. If the executor mishandles the funds they will be personally liable.
