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Is an executor responsible for anything missing from an estate property?
Wiki User
∙ 10y ago
The executor has the responsible to maintain the estate. That includes keeping the property safe.
Wiki User
∙ 9y ago
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What if family members take possession of personal tangible property that the executor doesn't agree to?
The executor has the power (and an obligation) to gather all the property of the estate for appraisal, inventory, disposal or distribution according to the terms of the will, in conformity with local statutes. The executor can nicely ask for an accounting of the missing property (where is it? who has it?), ask for the property to be returned, and then sue to have the property returned from whomever is currently in possession of the "stolen" goods. Hope it doesn't come to that.
Can the executor of an estate give permission to his friends to access the estate property and can beneficiaries do the same?
The Excutor is responsible for damange to all property, keeping records of spending for funeral costs, etc., out of the Estate. Technically, the only people that should be allowed on that property is the Executor and the beneficiaries or a real estate agent. Eventually the Will goes into Probate where all creditors will be paid off, all property taxes, personal taxes, etc., and what is left in the Estate will be divided amongst the beneficiaries. It is also customary for the beneficiaries (if not mentioned in the Will) to give 1 1/2% - 3% (can go up to 5%, but a judge would question this) to the Executor of the Will. Being Executor can be a tough job and lots of red tape even if the Estate is on the small side. If the Estate is small then 1 1/2 - 2% is customary, and if it's a large percent then 2 1/2% - 3%. The Executor can have friends on the premises, but is 100% responsible for any damage or missing articles from that Estate. The Executor should let the beneficiaries know, and thus, the beneficiaries should let the Executor know if they have friends on the property. It's a good idea to take a video of each room, any jewelry, art, etc. before anyone goes onto the property besides the Executor or beneficiaries.
What happen to property when a heir can not be find?
When a person dies owning property and there are no known heirs the property 'escheats' to the state. If one of several heirs can't be found their portion can be placed in an interest bearing account supervised by the court. If there is real property involved the executor must obtain a license to sell the real estate and the missing heirs portion can be placed in an account as stated above.
Can the police stop heirs from removing property from the dead persons house before the will is even filed for probate?
In theory, taking property from another (the estate), with intent to permanently deprive the other of its use, is called "theft" and the police can become involved.In practice, however, the heirs can claim it is a civil (not criminal) matter between themselves ("so, sue me and prove it isn't my stuff"), and the police will be excused from enforcing any criminal laws, absent any evidence of a crime. They can, however, become involved in "preserving the peace" where anyone is making a public disturbance.The middle ground would involve hiring private security to watch stuff (and keep records of anything still there or as it leaves), changing the locks, and demanding an immediate accounting for anything removed from the house without the necessary permission of the executor. Absent any accounting in reply, the executor could sue for the return of all missing property.
What is the legal action against a executor who can't provide answer for missing funds from a estate?
The most common charge would be fraud. Another is breach of fiduciary duties. The court can request a full accounting from the executor.
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