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How long does an executor have to sell a house and distribute funds to heirs in Virginia?
Wiki User
∙ 12y ago
There is no specific time limit. It can take decades to resolve an estate.
Wiki User
∙ 9y ago
In Virginia, there is no specific time frame set by law for an executor to sell a house and distribute funds to heirs. However, it is generally expected that this process should be completed within a reasonable time, which can vary depending on the complexity of the estate and any potential legal challenges. Executors should act with diligence and handle the process in a timely manner.
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When does the executor distribute funds from a probated will?
The executor of a probated will should distribute the proceeds of the will after it is settled in probate court. Some states have laws in place that state a certain time limit for the funds to be issued to heirs.
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.
What recourse do the heirs have when the Propriety has sold the money is in the bank but the executor refuses to distribute the money to the heirs?
If the period during which creditors can make a claim has passed, generally, the heirs can submit a motion to the court to compel the appointed executor to make distribution. The executor has a legal obligation to perform all their duties in a timely manner. If the executor isn't doing that then complain to the court or to the attorney who is handling 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.
If an executor does not distribute the assets can those included in the will force the executor to do so?
First, remember that the executor must be appointed by the court. A person named in a will is not the executor until the will has been reviewed by the court and the court has appointed the executor. If an executor is not carrying out their duties the heirs should complain to the court immediately and ask that the executor be replaced.
How long can an executor of an estate hold on to proceeds from sales of home before he must distribute to heirs of will?
He must distribute the proceeds as soon as possible after all the debts of the estate have been paid. If he does not act with expediency the heirs can file a complaint and seek a court order,
Can an executor pay for vouluntary services such as hospice out of estate money?
The executor is obligated to pay all of the debts of the decedent. The creditors get paid before any funds or property are distributed to the heirs.
Rights of non-executor surviving children?
The same as all other heirs. They are entitled to their distribution per the will or the state intestacy laws. The executor is required to inventory, value, resolve all debts and distribute the wealth.
Who signs for the sale of a house to be split between the 3 heirs when one of the heirs is the executor only the executor or all 3 heirs?
The executor has the Letter of Authority to conduct the sale. No one else has to be involved.
No executor do heirs have the right to appoint one?
The heirs have the ability to nominate an executor. If the court agrees, they will issue the letter of authority.
When a home in Virginia is inherited and sold and the title company misses a judgment of the deceased who is responsible the title company the heirs or the executor?
title company
Can an executrix of an estate legally not distribute stock due to beneficiaries?
The executor must follow the provisions in the will. If the stock is not mentioned in the will then it must be distributed to the heirs at law according to the laws of intestacy. An executor who is abusing her office should be reported to the court, removed and replaced.
