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How soon can the executor of an estate account get money from the account after a home has been sold?
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I have a full accounting of the estate funds and the executor took money from the estate how do get this money back from the executor I am a beneficary?
The executor is entitled to be paid for their work. The court has to approve the distribution and the fee they charged, which is often set by law. If the estate has been closed, you can sue the executor if they breached their fiduciary duty.
Can executor transfer property to estate account?
If they have been duly appointed by the probate court they have been granted the authority to settle the estate under the supervision of the probate court. They have the power to close accounts and manage an account for the estate.
Who can withdraw monies from a bank account if someone has been made executor?
Anyone whose name is on the bank account can access it. The executor can access on behalf of the estate. They will have to show their letter of authority.
Can an heir stop an executor from removing funds from the estate?
Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.
Can an executor or girlfriend take money out of a decedent's checking account?
It depends on whether the executor has been appointed by the court and if the account was a joint account with the decedent and his partner.If the executor has been duly appointed they can access accounts solely owned by the decedent. That's their job.If the account is a joint account, it isn't a probate asset and the executor has no control over it. It belongs to the surviving joint owner.
What is statutory inventory in a will?
The court appointed executor must file an inventory of the estate with the court. Once the debts have been paid and the remaining estate has been distributed the executor must file a final account to show the disposition of the assets that were reported in the inventory. The court will compare the two documents and either allow the final account and close the case or ask the executor to provide more information.
Does the executor of an estate have to pay the debts of a beneficery with the inheritance of that beneficery or can he just distribute the inherintace an let the beneficery be responsible for paying?
The executor distributes the money to the beneficiaries after the estate's debts have been settled to the satisfaction of the court. Each beneficiary is responsible for what they do with the money. There is no requirement, and it would be detrimental, for the executor to play bookkeeper and accountant and pay of the debts of the beneficiaries of the estate.
Can an heir to the estate receive money from that estate after the house has been sold. Everyone that suppose have received their portion of the estate has. When can the heirs receive their money?
When the executor is satisfied that all the debts have been resolved. They will provide a final accounting to the court and distribute the remainder.
Can an unpaid executor get paid for gasoline expenses?
As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.
When does the job of executor of an estate start?
The executor's official duty begins as soon as the will has been allowed and "Letters Testamentary" have been issued to the executor.
If your the executor of a will and you find the bank account has Pay upon death on it and it is not the executor who pays taxes on that?
I have been the executor of my mothers money, I pay her nursing home bills with it, she just died and i have 200,000 dollars left, do I have to pay tax on that money.
Can an executor find out how much money is in deceaseds bank accounts?
Yes, once they have been appointed by the probate court and Letters Testamentary have been issued. Take your Letters Testamentary to the bank with you. That document gives you the legal right to access the decedent's assets including bank accounts.
