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If two siblings have bid on estate property 5 siblings agree that one of them should own the home what is the executors role in this?
Wiki User
∙ 15y ago
The executors role is to insure that the property is sold for a fair market value and the proceeds properly distributed according to the will. Having a beneficiary buy the property is a common occurance, particularly if they property is to stay in the family. He has no brother or sister, but lots of half-brothers and -sisters, namely all the kids of Zeus.
Wiki User
∙ 15y ago
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How are disputes handled between two co-executors of an estate?
The co-executors should discuss the issue with the attorney who is handling the estate. If the dispute cannot be resolved the matter should be brought before the court for a ruling.
Can one sibling be selected to be executor of the estate even though all 5 children have been assigned as executors of the estate?
* Generally there are only one or two Executors to a Will. Executor (male) or Executrix (female.) It is odd there should be five Executors. An Executor/Executrix has the right to decline to handle the wishes of the said Will and this is the reason for basically having a back up Executor or Executrix. The group of siblings should get together and decide who will be handling the Will as Executor or Executrix. If one is chosen then they should get a fee for their trouble which is anywhere from one to four percent of the entire Estate (property, monies, etc.) and that will be up to the other siblings unless otherwise stipulated in the Will.
Should executors of wills see proof of joint ownership of assets?
Not clear why an executor would be interested in any property that is jointly owned, with right of survivorship, as it would not be part of the decedent's estate.
My father made me joint owner of his property before he died and now my siblings want a share of his estate. What should I do?
If your father transferred his property to you and he as joint tenants with the right of survivorship his interest passed automatically to you when he died. You are the sole owner of his property and there is no estate that needs to be probated. He wanted you to own the property. You have the right to explain that to your siblings and turn down their requests for a share of his estate. Depending on the size of the estate, you could volunteer to share but no one has the right to demand a share.
How do you go about stopping a family member removing items from an estate who won't listen to the executors?
First, the executor must be appointed by the court in order to have any legal authority over the estate. They should submit a petition for probate and appointment as soon as possible. Once appointed the executor can call the police if someone is stealing property from the estate.
Should the names of the utility bills be put into the executors name?
It should be in the name of the estate. Putting it in the executor's name might make them liable for the money.
If your father dies are you and your siblings responsible for his bills?
Your father's estate is responsible for his debts. If he owned any property at the time of his death (including real estate, personal property, bank accounts, etc.) his estate must be probated and that property must be used to pay his creditors. If he owned no assets then his ceditors are out of luck and you should send the bills back with a copy of his death certificate.
Are joint executors liable for any debts unpaid from the estate?
The executors are responsible for the payment of the debts according to the payment scheme required by state law, however, if they do their jobs properly only the estate is responsible for the debts of the deceased. You need to be careful when there are debts and not enough money to pay them all. Certain creditors have the legal right to be paid first and the debts must be paid before any property is distributed to the heirs. You should seek the advice of an attorney who specializes in probate.If there are no assets in the estate to pay debts the creditors are out of luck.
What do executors do when beneficiaries refuse to collect chattels in England?
In England, chattels are goods capable of being transferred by delivery. If the beneficiary refuses to collect their inherited property then you should send it by currier to be delivered with a signed receipt and charge the cost to the estate for that service. Or, you should petition the court for guidance.
How should you choose an executor for your will?
Select an executor for your will based on trust and relationship. A family member can execute the estate or you can choose two people to be co-executors. Lawyers can do it but they will likely charge the estate a percentage.
Can you transfer a property that is willed to you in NY State without putting property in your name?
You may be able to have the executor transfer the property directly from the estate with your consent. You should speak with the attorney who is handling the estate.You may be able to have the executor transfer the property directly from the estate with your consent. You should speak with the attorney who is handling the estate.You may be able to have the executor transfer the property directly from the estate with your consent. You should speak with the attorney who is handling the estate.You may be able to have the executor transfer the property directly from the estate with your consent. You should speak with the attorney who is handling the estate.
What if myself and other siblings are heirs of mother's estates and one sibling try to take over?
Your mother's estate must be probated in order for her property to pass to you legally. You should consult with an attorney who can handle the estate and also act as your gatekeeper to keep your pushy sibling at bay.Your mother's estate must be probated in order for her property to pass to you legally. You should consult with an attorney who can handle the estate and also act as your gatekeeper to keep your pushy sibling at bay.Your mother's estate must be probated in order for her property to pass to you legally. You should consult with an attorney who can handle the estate and also act as your gatekeeper to keep your pushy sibling at bay.Your mother's estate must be probated in order for her property to pass to you legally. You should consult with an attorney who can handle the estate and also act as your gatekeeper to keep your pushy sibling at bay.
