0
Does Executrix after paying bills get to keep what's left in checking account if it was to be divided equally to the 3 siblings?
Wiki User
∙ 11y ago
No, you can't just keep it when its to be divieded equally between 3 siblings! That's called stealing and you would go to jail.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
My dads sister is on his checking account but not on the will which is to be divided between the kids. can she legally take the money for herself even if the will say to divide between the kids?
It depends on how the checking account is held. If the account is a custodial account it will pass according to the will, then she cannot take the money. However, if this is a joint checking account, in the eyes of the bank she is a co-owner and is legally permitted to take the money.
What is 252 divided by 9?
28
Can a beneficiary close bank accounts totaling over 162000 when named a signer of deceased account when will specifies all assets divided equally between the 2 siblings?
if the beneficiary is the only one whose name appears on the account he is within his rights to withdraw the funds, but knowing the amount in the account he is morally ordered to give 1/2 to his sibling
What is siblings rights living in deceased parent home?
The homeÃ?s legal ownership will dictate the siblings right to reside in the house. Most states' laws say that without a will the estate's total value is divided equal between siblings.
Why a given integer is ever or odd?
An integer is even or odd can be decided by checking its divisibility by 2 if it is divided by 2 it is even and if not then it is odd
What are the advantage and disadvantage of divided family?
One of the disadvantages would be being separated and not having everyone together. However, an advantage would be that it enables your family to grow and may give you more siblings/half siblings/step siblings/step parents/cousins etc that love and care about you.
Can a beneficiary of an estate sign a disclaimer and their share go to their siblings?
Yes, a beneficiary of an estate can sign a disclaimer to voluntarily relinquish their share of the inheritance. In this case, the disclaimed share would typically pass to the next beneficiary in line, such as the siblings of the disclaiming beneficiary, as specified in the estate plan or intestacy laws. It is important to follow proper legal procedures when executing a disclaimer to ensure the distribution of assets is handled correctly.
Your sister pass way should you still file tax for her?
I am so sorry your sister passed away. Generally a Will is left and an Executor (male) or Executrix (female) has to carry out the wishes of that Will. Most Wills go into Probate so that all personal taxes, any property taxes and any debts by the deceased are paid off and the residue left is the Estate which will be divided amongst any Heirs mentioned in the Will. If your sister did indeed leave a Will then and you are named as Executrix then yes, you do need to file personal income tax. what if there no will, but i cared for her
How did Zeus become king of the gods after Kronos died?
Kronos did not die. Zeus and his siblings dethroned him and sent him to the underworld. They then divided the powers between them.
How was Poseiden created?
Poseidon is the son of Cronus and Rhea he has 6 siblings Hestia, Demeter, Hera, Hades, and Zeus who divided the power of the world
Is there any way to get a executrix executor removed from that position if causing trouble?
Yes there is. An Executor (male) Executrix (female) who is doing a poor job or cheating or stealing from the said property of the deceased can indeed be taken off the Will, but you will have to see a lawyer about this and prove it. Be very careful with this accusation and learn about Probate, and what the duties of an Executor/Executrix. You can find out by going on www.google.com and asking "What are the duties of an Executor regarding a Will?" Here is a quick scan over what their duties are (I've done it.) For instance, if there are 2 or more heirs in the Will, they can vote re ousting out the Executor/Executrix. **If the heirs are the children of the deceased they have the right to go onto the property and retrieve any personal effects of their parent(s). The Executor/Executrix cannot stop this! DUTIES OF EXECUTOR/EXECUTRIX Once the person is deceased the Executor/Executrix has the right to pay off things like funeral costs, etc., and small bills such as Hydro, electricity, phone, cable, outstanding charge card balances, etc. However, they MUST KEEP RECORDS! Then the Will goes to Probate. Probate makes sure that all house/personal taxes are paid as well as any other outstanding debts such as mortgages, back taxes on home/property, etc. If the Estate is small to average the Executor/Executrix has the right to either do this on their own (you can get the forms) and it's much cheaper and usually quicker than a lawyer doing it and not as hard as lawyers would have you believe. If the Executor/Executrix decides to this they have to account for everything in the said Will and ALL expenses they have had since that person's death. The Executor/Executrix can sell the home, but should give the heirs a chance to decide if one of them wants to buy that house or property outright. Once the house/property is sold that money goes back into the Estate and divided according to the wishes of the deceased. The Executor/Executrix can also sell a car, motorcycle, boat, etc., but, if one of the heirs would like to buy it they should have that option and proceeds go back into the Estate to be equally divided by the said heirs. THE EXECUTOR/EXECUTRIX CANNOT CHARGE GAS, USE ANY MONEY FROM ANY ACCOUNT OF THE DECEASED FOR THEIR OWN PERSONAL GAIN ... SUCH AS BUYING SOMETHING FOR THEMSELVES. In some Wills a person will leave anywhere from 2% - 5% or possibly more of the entire Estate to the Executor/Executrix for their time and effort. If it isn't stated in the Will, the heirs don't have to give them anything, but should if they feel a good job as it can be time consuming processing a Will. Usually 3% is fair, but depends if it's a small or large Estate. I would highly suggest you see your lawyer. Good luck Marcy * Probate laws differ in each state. Therefore not all such acts noted are legal in all US states. For example, in many states no property regardless of what the item may be can be taken, sold or distributed until permission is granted by the probate court. In other states any property that is exempted from probate can be distributed to family members or heirs as it is not subject to creditor action in case of outstanding debts. In most US states the only way an executor, executrix or personal representative can be removed is by a bringing suit in probate court charging said persons with misappropriation and mishandling of the estate. Removing a fiduciary is damaging to the estate and is rarely allowed by the court. And of course the accused party has the right to defend themselves and so on and so forth, in other words it is time consuming and usually very expensive. This is the reason it is not prudent to waive bonding of an executor or executrix even if the grantor prefers to do so.
What kind of taxes will need to be paid on a considerable sum of money from a deceased mother's checking account when it is divided between the surviving children?
Estate taxes are what need to be paid. The executor of the estate, or their legal advisor, should have a good handle on the process. If the value of the estate is less then about 1.2 million, there may be no taxes due, but you still need to file.
