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Can you buy insurance to protect estate assets in case of embezzlement by an executor who buys the insurance or bond?
Wiki User
∙ 15y ago
The bond is required by the court to insure that the executor will distribute all estate assets as instructed. If you don't think the nominated executor is trustworthy you should object to the appointment and explain your reasons to the court. You should seek the advice of an attorney who could explain the bond to you. Embezzlement is a criminal offense and is not commonly committed by executors.
Wiki User
∙ 15y ago
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Is an executor allowed to bar access to a home?
The executor is responsible for the estate's assets. This means making a complete inventory of the house. The inventory must then be submitted to the court. They can protect the assets by preventing access to the home.
Does insurance company are insured?
Insurance companies have re-insurers to protect their assets.
Can the inheritors force the executor to sell assets?
No, they cannot force the executor to sell assets. The executor is responsible for closing out the estate and settling debts. Then the distribute the assets.
Who needs liability insurance?
Anyone who has a job and assets to protect.
What is the crime of embezzlement?
Embezzlement is the act of illegally acquiring assets (usually financial in nature) by one or more individuals to whom custodianship of the assets have been entrusted.
What kind of insurance policies are subject to executor's fees?
Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.
A person appoints a child as executor of the estate. is executor of estate required to list assets after that person dies?
That is one of the duties of the executor. They have to inventory the assets and debts of the estate. Then they will be able to liquidate the debts and distribute the assets.
If you inherit money can the executor pay it as an annuity?
It may be worked out that way in the will. Or if a trust were set up that way, it is often done to protect assets.
What is the best way to protect assets from creditors?
Move to Texas and put your money into exempt assets; e.g., a homestead, retirement assets, life insurance, annuities . . . .
How do you protect your assets from a lawsuit?
Liability insurance. An irrevocable trust made with the help of an attorney.
Is it the legal responsibility of an executor to pay all debts of an estate from money in accounts and life insurance prior to settling will?
Yes, that is the executor's responsibility. He has the responsibility to resolve the debts. If the assets are not adequate to resolve them, they have to be written off.
Is the executor responsible for distributing inheritance?
That is the job of the executor. To distribute the estate and liquidate the assets.
