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Who does the executor account to after probate?
No one, unless some malpractice is discovered on the part of the executor after the estate is closed and sues the executor. Once the estate is distributed and a final account is filed and approved the executor is discharged and the estate is closed. After that, the executor has no authority.
Is executor's fee in New Jersey before the settlement of claims against the estate or after?
It is a debt against the estate. It cannot be resolved once the estate is closed. The executor must have the courts permission to collect their bill.
You have concluded all of your duties as the Independent Executor of an estate and you need to know How do you terminate the estate and your fiduciary relationship?
Generally an estate is closed by filing the final account for allowance. Once the final account is allowed the estate is closed.
Are you an executor to a will forever?
No, once the will has been executed and the assets distributed the task of the executor is finished
How can you have the court appoint a third party executor for Texas estate?
There are several reasons why the court would appoint a third party executor for a Texas estate. You can have the court appoint a third party executor for an estate once all family members that were named as executors are unsuitable to be an executor.
Does power of attorney have the right to hold money that is will to someone else for as long as they like?
Answer: When a person dies with a will, will need to determine if the person who is now deceased has appointed somebody to be the administrator of the estate. If so, this person will submit the will to the probate court to have the will probated. If the will does not call for an administrator, then it will depend on the law in the state to determine if there are any restrictions of somebody else being appointed as the executor of the estate. The potential executor would apply to the probate court for appointment. The administrator or the executor are under an obligation to settle the estate as quickly as possible. This means collecting all the assets of the estate, paying first all the estate debts, and then disbursing any remaining assets according to the terms in the will. Once the process is completed, the person will advise the probate court who will order the estate closed. Once the estate is closed, there are no other claims that can be brought.
What powrs do the executor of estate have after the estate goes into probate?
Once they have the letter of authority, they have full control of the estate. They are responsible to the court for the inventory and dispersion of assets.
Who can legally probate a will?
Generally, a court appointed executor can probate an estate once the will has been proved and allowed by the court and the court has officially appointed the executor.
When does executor of will step in when spouse is living and has different executor of will?
The executor must be appointed by the probate court. Once they have been appointed they have the authority to collect the assets of the decedent and settle the estate according to the terms of the will and state laws.The executor must be appointed by the probate court. Once they have been appointed they have the authority to collect the assets of the decedent and settle the estate according to the terms of the will and state laws.The executor must be appointed by the probate court. Once they have been appointed they have the authority to collect the assets of the decedent and settle the estate according to the terms of the will and state laws.The executor must be appointed by the probate court. Once they have been appointed they have the authority to collect the assets of the decedent and settle the estate according to the terms of the will and state laws.
Can the executor of an estate over ride the wishes of one of the beneficiaries?
Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.
How can an executor collect their commission from an estate?
An executor can collect their commission from an estate by first reviewing the will or state laws, which typically outline the compensation allowed. Once the estate has been settled and debts and taxes paid, the executor can calculate their commission based on the value of the estate assets. They should then prepare and submit a detailed accounting of their services and expenses to the court for approval, after which the commission can be disbursed from the estate’s funds.
Is it executor under the Will or Executor of the Estate?
Not all wills name an executor. If an executor is named in the will they must submit the will to probate for allowance and petition for appointment as the executor. In that case they will be both the executor under the will and the executor of the estate once appointed.In some cases, the named executor has died. In that case the court must appoint another person to act as executor. In some cases the executor named in the will declines the appointment. In that case the court will appoint an alternate. Either of these executors can be referred to as executors under the will and they are both executors of the estate. It may simply be a matter of style.Some may acknowledge a distinction that a person who is executor under the will has not been officially appointed by the court and the executor of the estate has been appointed by the court and Letters Testamentary have been issued making the appointment official.
