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Does an executor have to pay off debt before the distrubution of any other assets on an estate?
Wiki User
∙ 10y ago
Yes, they have to resolve all debts. Any distribution prior to that may require pulling the items back into the estate.
Wiki User
∙ 10y ago
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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.
Can you cash bonds if sister named executor?
Only the executor has the authority to liquidate assets of the estate.
How do you sell stock of deceased parent?
The executor of the estate is able to sell assets of the estate.
What debts will be the responsibility of the heirs to your estate?
None of the debts are the responsibility of the heirs. The debts are the responsibility of the estate. The executor must settle all, or as many as possible based on the assets of the estate, before they can distribute any of the the estate to the heirs.
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.
What happens to the assets due to an executor if the executor of a will dies?
They become part of his estate. The executor of his estate would file the claim against the first estate.
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.
Can a house be emptied by an executor before the will is read?
There is no formal reading of the will. The executor must inventory and value all assets of the estate. They have to provide an accounting to the court.
Is the executor responsible for distributing inheritance?
That is the job of the executor. To distribute the estate and liquidate the assets.
Is excutor of estate responsible for paying the prior homeowner association fee?
Yes. The executor of the estate is responsible for paying any outstanding debts owed by the decedent. Those debts must be paid before any assets can be distributed to the heirs.Yes. The executor of the estate is responsible for paying any outstanding debts owed by the decedent. Those debts must be paid before any assets can be distributed to the heirs.Yes. The executor of the estate is responsible for paying any outstanding debts owed by the decedent. Those debts must be paid before any assets can be distributed to the heirs.Yes. The executor of the estate is responsible for paying any outstanding debts owed by the decedent. Those debts must be paid before any assets can be distributed to the heirs.
Can a credit card company go after the estate of someone whose only income is social security?
If the estate has any assets, they can certainly apply to get their money back. They can place a claim with the executor. The executor is responsible for clearing any debt before distributing assets.
Is the Executor of the Will responsible for paying the debts of the deceased?
Yes. That is one of the duties of the executor. The debts must be paid out of the assets of the estate before legacies are paid to the beneficiaries.
Can the executor of estate be held liable for taxes owed if estate is solvent?
The executor is responsible for paying any debts, including taxes, owed by the decedent before any assets can be distributed. If the debts are not paid and assets are distributed the executor can be held personally responsible.
Can an executor live in real property and do up grades before they settle the estate?
They can certainly do so. The executor is responsible for all the assets of the estate. That would include reasonable maintenance, protection and repairs to a home.
Can you cash bonds if sister named executor?
Only the executor has the authority to liquidate assets of the estate.
How do you sell stock of deceased parent?
The executor of the estate is able to sell assets of the estate.
