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If all heirs and the executor agree can assets be distributed differently than what the will states?
Wiki User
∙ 12y ago
Generally, no. The distribution in the final account should coincide with the distribution set forth in the will. However, if all parties agree they can join in a petition to the court explaining the situation and stating the changes they want to make. The court can review the situation and render a decision that may result in a court order allowing the changes. State laws vary and you should consult with an attorney who can review your situation and explain your options under the laws in your jurisdiction.
For example, in one particular case, one child's name was omitted from the will. All the other children joined in a petition to the court explaining that the child had a good relationship with his father and they honestly believed his name was omitted by mistake and had no objection to his being considered an equal heir. The court agreed and issued a court order to that effect.
Generally, no. The distribution in the final account should coincide with the distribution set forth in the will. However, if all parties agree they can join in a petition to the court explaining the situation and stating the changes they want to make. The court can review the situation and render a decision that may result in a court order allowing the changes. State laws vary and you should consult with an attorney who can review your situation and explain your options under the laws in your jurisdiction.
For example, in one particular case, one child's name was omitted from the will. All the other children joined in a petition to the court explaining that the child had a good relationship with his father and they honestly believed his name was omitted by mistake and had no objection to his being considered an equal heir. The court agreed and issued a court order to that effect.
Generally, no. The distribution in the final account should coincide with the distribution set forth in the will. However, if all parties agree they can join in a petition to the court explaining the situation and stating the changes they want to make. The court can review the situation and render a decision that may result in a court order allowing the changes. State laws vary and you should consult with an attorney who can review your situation and explain your options under the laws in your jurisdiction.
For example, in one particular case, one child's name was omitted from the will. All the other children joined in a petition to the court explaining that the child had a good relationship with his father and they honestly believed his name was omitted by mistake and had no objection to his being considered an equal heir. The court agreed and issued a court order to that effect.
Generally, no. The distribution in the final account should coincide with the distribution set forth in the will. However, if all parties agree they can join in a petition to the court explaining the situation and stating the changes they want to make. The court can review the situation and render a decision that may result in a court order allowing the changes. State laws vary and you should consult with an attorney who can review your situation and explain your options under the laws in your jurisdiction.
For example, in one particular case, one child's name was omitted from the will. All the other children joined in a petition to the court explaining that the child had a good relationship with his father and they honestly believed his name was omitted by mistake and had no objection to his being considered an equal heir. The court agreed and issued a court order to that effect.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoGenerally, no. The distribution in the final account should coincide with the distribution set forth in the will. However, if all parties agree they can join in a petition to the court explaining the situation and stating the changes they want to make. The court can review the situation and render a decision that may result in a court order allowing the changes. State laws vary and you should consult with an attorney who can review your situation and explain your options under the laws in your jurisdiction.
For example, in one particular case, one child's name was omitted from the will. All the other children joined in a petition to the court explaining that the child had a good relationship with his father and they honestly believed his name was omitted by mistake and had no objection to his being considered an equal heir. The court agreed and issued a court order to that effect.
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What is legal age to be an executor of an estate in New York State?
In New York State, the legal age to be an executor of an estate is 18 years old. Any adult over the age of 18 can serve as an executor to manage and distribute the assets of an estate according to the deceased's wishes.
If the deed says you have right to survivorship and the will states differently which one is legally bound to be followed by executor?
The deed is the ruling document in this case. The property will go to that individual.
Can the executor of a will sell a house before probate has been finalized?
As a general rule (which might vary from jurisdiction to jurisdiction), an executor takes his/her power from the will, not from any official act pertaining to the will. As such, an executor can dispose of assets effective immediately upon the death of the 'testator.' ==Clarification== Generally, in the United States, legal title to property does not pass to the heirs until the estate is probated. An executor has no power to sell assets, especially real estate, until they have been duly appointed by the probate court. The will must be presented to the court for "allowance". Briefly, there is a statutory period during which interested parties may make objections to the appointment or contest the will. If there are no objections the executor is appointed and issued "Letters Testamentary" which give the executor the legal power to perform such duties as access bank accounts, make insurance claims, settle debts, settle any pending lawsuits, distribute personal property according to the will, etc. There is a statutory period during which creditors must file a claim. The debts of the estate must be paid before any assets can be distributed. Generally an executor can only sell real estate if that power was specifically granted in the will or if the court issued a license to do so.
How much should an executor get paid?
Executors don't normally work on commission. An executor is entitled to a reasonable fee for services rendered. The probate court may even have a published fee schedule based on hourly rates. The executor must submit a detailed accounting of the estates assets and the distribution, including their fees,to the court for approval.
Can you hire an attorney to challenge an Executor's decision regarding the estate?
In the United States you can if the executor is not performing the functions of an executor properly. An executor can be sued to either remove him as executor, to surcharge him for losses he may have caused to the estate or to force him to do what he is supposed to, like transferring assets. If an executor causes monetary losses to the estate, he can be sued to make him reimburse the estate for the losses either from his own pocket or from his statutory commissions. All states in the US have statutes that govern the duties of executors and spell out the remedies beneficiaries and third parties have.
Can a executor of an estate sell property without the permission of the heirs?
First, the executor must be appointed by the court. The executor must dispose of the estate assets according to the provisions in the Will. It is common for the power to sell real estate to be granted in the Will. If not, then generally, the executor must obtain a license from the court. In some states the executor has inherent power to sell real estate. Generally, the executor does not need permission from the beneficiaries to act. They derive their authority by their court appointment and under state laws that vary from state to state.
How do you change an executor after will is probated?
They absolutely can not change the will. They do not hold the power to do such a thing. Their only job is to be responsible for and/or carry out the individuals last wishes made within the will in the exact way the will states.
Can you file bankruptcy as executer of estate?
Why bother? No one can legally inheret debt. Actually debt can be "inherited" if the deceased left a spouse and the married couple resided in a community property state, the debts then revert to the spouse whether he or she incurred them. In non-community property states the deceased's debts are included along with all nonexempt assets and property in the probate procedure. The nonexempt assets and property are then liquidated to pay debts according to their priority and to the extent that funds are available.
How long do you have to settle an estate in North Carolina before the state or commissioner steps in?
In the states I'm familiar with, as long as the executor is providing the proper reports and managing the assets, there is no limit on how long an estate can be open. If beneficiaries complain, or the state is the beneficiary, the probate court can appoint a new executor to resolve the issues.
How do i obtain an power of attorney for deceased relative?
A power of attorney ceases upon the death of the grantor. For a deceased person, you must be appointed their executor or representative by a court. Generally, if the person had signficant assets or a complex situation this means you need to open an estate, for persons with few assets, most states have a simpler alternative.
Is there a way of removing an executor if they have moved out of the country?
Yes. Executors are forbidden from abandoning estate assets or the obligation to handle the estate properly. Some states will consider moving to another country as such an abandonment would most likely be taken as an abandonment. The state where the will was probated will have statutes that outline the situations in which an executor may be removed from office. One of those instances is abandonment of estate assets. That state's probate court will have a procedure to file a complaint alleging the facts of the abandonment and demanding that the court remove the executor. The state's laws and court rules will direct the manner in which the complaint is to be served on the executor and if service is properly made, the court will proceed to look into the matter. If the executor fails to appear, the court will remove him or her. If the executor appears and denies the allegations of abandonment, the matter will proceed to trial. If abandonment is proved at trial, the executor will be removed. If it is not proved, the executor will not be removed. However, the court might require the executor to post a surety bond to protect the beneficiaries in case the executor does abandon things in the future.
If the executor is a relative are they entitled to the executor fee?
The executor is entitled to a fee for their services. Their relationship is not a deciding factor. In many states the fee is set by law.
