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If both executors of an estate renounce can any beneficiary be executor?
Wiki User
∙ 12y ago
Generally, yes.
Each state will have its own laws governing this issue and even though most states have the same system, one must look to the laws of the state of probate for the exact answer.
The residuary beneficiaries have the right to administer the estate if the named executors decline. They all have an equal right to this, so usually they must all agree to either serve together (a surefire recipe for problems) or agree on one or some of them to serve. Unless there is an agreement, the dispute over who will serve will go into court to be resolved. The court will appoint an executor.
The general idea is that the right to administer the estate goes to the persons who have an interest in the estate or to someone of their choosing.
Wiki User
∙ 12y ago
Wiki User
∙ 10y agoYes, they can both renounce their responsibility. The court will appoint an attorney or bank to represent the estate.
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Can executors renounce in favor of a family member who is not a beneficiary in the will?
The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.The executor cannot "renounce or disclaim" the inheritance of any beneficiary. That can only be done voluntarily by the person who decides to disclaim their own inheritance and there are certain forms that must be used, signed and filed with the estate.
What should you do if the named executor who is also the main beneficiary is not acting in the best interest of the other heirs?
Either renounce or administer the estate or pay a professional to deal with the matter and the fees would be met from the estate. It is up to the executor to decide. If the exector decides to administer the estate, he or she can be paid a fee (amount varies by state and county). The executor is not a beneficiary and the beneficiary is not the executor. The beneficiaries really have no say as to what the executor should do (i.e., adminster estate, hire attorney to represent estate, or renounce). The executor has a sworn duty to administer the estate in accordance with the deceased's will and the laws of the state and county of probate.
Does the executor work for the beneficiary?
No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.
Can a beneficiary force the sale of a property when executor years ends if the other beneficiaries disagree?
Type your answer here... Can a beneficiary force executors to wind up an estate, or ask them to buy him out in respect of a property being involved
Does the executor receive the estate in the UK?
No, the beneficiaries receive the estate. An executor could be a beneficiary
Can a beneficiary sell the estate?
A beneficiary does not have the right to sell the estate. Only the executor can sell property.
How can i obtain a copy of a dead person's will as i am a beneficiary of the estate?
How do you know that you are the beneficiary if you do not have a copy of the Will! Wills are usually lodged with solicitors or with the executor(s) of the Will. The executors must have the original Will document and are responsible for putting the Will/Estate through probate. At this point the Will becomes a public record (that anyone can see) and the executors are then supposed to divide up the estate as specified by the will, ensuring the beneficiaries get their legacies. I no will can be found, then you countries "intestate" rules will apply regarding beneficiaries of the estate.
Can an adult child be an executor and a beneficiary?
An adult child can be the executor. They can also be a beneficiary. They are required to be impartial when distributing the estate.
Is the beneficiary of a deceased person usually the executor?
It is relatively common to for a beneficiary to be executor. They are more likely to get the estate closed quickly.
Can a executor of an estate change or depute a beneficiary choice?
No.
Can executor and beneficiary be the same?
Yes, that is often the case when a spouse dies. It saves the estate money.
Can an executer cheat the beneficiary of the estate?
Of course not. If the beneficiary has reason to believe the executor is mishandling the estate they should complain to the court that appointed the executor immediately and ask the court to review the situation.
