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If a person dies leaving no assets will the executor named in the will be released of all duties?
Wiki User
∙ 14y ago
If a person dies owning no property whatsoever, the executor won't petition the court for appointment. An executor named in a will who is never appointed by a court has no power and no responsibilities. The will can be simply "filed" with the probate court for a nominal sum without actually opening a probate procedure. It will be indexed in the probate records for future/historical reference purposes only.
Wiki User
∙ 14y ago
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What are the duties of the executor to find assets which may have been taken by fraud or deceit?
That is one of their duties.
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.
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 court require an executor to repay legal fees for removal of another executor?
First, there must be a good reason to request the removal of the original executor and the appointment of the successor. If the first executor committed failed to perform their duties according to the law and/or caused a waste of the estate assets the court could order them to reimburse the estate.First, there must be a good reason to request the removal of the original executor and the appointment of the successor. If the first executor committed failed to perform their duties according to the law and/or caused a waste of the estate assets the court could order them to reimburse the estate.First, there must be a good reason to request the removal of the original executor and the appointment of the successor. If the first executor committed failed to perform their duties according to the law and/or caused a waste of the estate assets the court could order them to reimburse the estate.First, there must be a good reason to request the removal of the original executor and the appointment of the successor. If the first executor committed failed to perform their duties according to the law and/or caused a waste of the estate assets the court could order them to reimburse the estate.
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.
What is a schedule of assets for probate?
It is a listing of all items in the estate. One of the primary duties of the executor is to inventory the estate. They also have to have the estate valued.
If the executor of a will a lawyer retires overseas and is no longer with the company who takes over the duties of executor or should he or she have appointed a replacement before leaving the country?
The court will appoint someone if no one volunteers.
What are duties of an executor in wv?
Briefly, the duties of an executor are as follows:Submit the will to the probate courtCollect the decedent's assetsPay the decedent's and estate's bills and debts, including funeral expensesPay taxes, including estate taxes and outstanding income or property taxesManage the assets of the estatePay any invoices associated with administering the estate, such as bills from appraisers, accountants and brokersDistribute the estate's assets according to the will
Is it mandatory to file an inventory with probate court fl?
Yes an inventory is part of the required duties of the executor. A full accounting of all assets and debts is required.
Can an executor keep a death benefit by law without being named as a beneficiary?
The court appointed Executor of a will is entitled to payment or monetary compensation for taking on the task of performing the executor's duties. Generally, there is a statutory rate depending on where you are located. A death benefit that has no named beneficiary would be paid over to the estate. The Executor can pay herself the statutory rate out of the assets of the estate the same as payment of any debt, before any assets can be distributed to the heirs.Apart from statutory compensation that is reported to the court, the Executor is not permitted to simply take any assets and convert them to her own use.
Does the original executor have to be notified if a new executor has been named?
Yes. The court will notify the original executor they have been removed although they should already be aware there are problems with their fulfillment of their duties. If they didn't request to be removed as executor then the beneficiaries requested their removal. They are required to file an account detailing their activities regarding the estate assets. The original executor does not have to be notified if the situation is one where a person during his/her lifetime makes a new will in which a new executor is named.
What is the legal recourse if the executor of a will does not fulfill their duties in wa state?
Petition the court to replace the executor.
