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What can be done if the executor sells the heir's stock?
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Answered 2005-03-16 16:18:41
In most cases the executor of a will by law has to liquidate all nonexempt assets to pay creditors. State probate laws determine which property can be sold to pay the deceased's debts. If it is thought an executor is mishandling an estate, the concerned party should seek legal counsel.
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Can an executor make a partial distribution to heirs?
Yes, a partial distribution can be made. This is often done when there may still be debts to be resolved and some reserve must be retained.
Can executor hold back monies when will says estate divided by heirs equally?
The executor can hold back some of the money. This is often done to make sure that all tax liabilities have been satisfied. There may also be court costs and other debts to settle.
Can the executor refuse your portion of the estate money?
The executor can decline payment. This is often done by a family member serving as executor.
Can the executive of estate make decisions regarding heired property without discussing it with the heirs?
The answer depends on the provisions in the Will.Generally, the executor is authorized by the court to manage the estate according to the instructions set forth in the Will. In many Wills the testator grants the authority to make decisions about the real estate to the executor. In other cases property is specifically devised to a beneficiary and the executor cannot sell it unless the sale must be done in order to pay off the debts of the decedent. The debts must be paid before any property can be distributed to the heirs.An executor can also request a license to sell real estate from the court if the heirs cannot agree and the power of sale was not granted to the executor in the Will.The proper way to refer to property owned by a decedent is estate property.
Can a spouse be a will executor?
It is common for a spouse to serve as executor. It is typically done without pay in that case.
Can you sell property with an Executor's Deed?
Yes but it must be done by a duly court appointed executor and according to state laws.Yes but it must be done by a duly court appointed executor and according to state laws.Yes but it must be done by a duly court appointed executor and according to state laws.Yes but it must be done by a duly court appointed executor and according to state laws.
Is it common for the lawyer to be executor of a will?
It is often the attorney who is named executor of a will. This prevents the family from fighting over how things are done. Banks are another common executor.
Can you resign as co-executor?
Yes, you may resign as co-executor. You simply have to inform the court. You may have to provide an accounting of what you have done to that point.
As a executor may you pay myself for work done on the estate?
An executor of a will may be paid for work done on the estate if the will states they are to be paid. Most states will allow expenses to be paid within reason to the executor, but they must show proof.
Can the executor sell property if he is the oldest child but only one child does not consent?
The Executor was specifically named by the the deceased to be their representative. and handle the matters of the disposition of their estate. As long as the Executor is abiding by, and adhering to, the wishes and instructions expressed in the will of the the deceased, they are acting with the 'good faith' expected by the deceased, and the law. However, this does not preclude dissatisfied heirs from challenging in court the actions of the Executor. Be aware, however, that the if the challenge is going to defend against it will be done so from the remaining proceeds of the estate and can therefore, have the effect of depleting the estates assets. Better that the heirs should consult with one another before this point is reached and try to come to some kind of mutual resolution of their perceived differences.
Can the executor of an estate in Michigan granted power to sell real estate in the will place it in a trust for the heirs?
Yes, as long as the court concurs. If there are enough assets to cover the debts without selling the property, they can create a trust. This is often done for minors.
What powers does a Executor have over the beneficiaries?
The executor has no power over the beneficiaries. The executor is in charge of the estate and all of its assets. They execute the will or the intestacy law and report to the court what they have done.
How long can mineral rights go without being probated in ND They were in a estate in which the lady died in 1989 and never has been probated?
If the estate was not probated then the rights have not passed legally to the heirs. The estate must be probated. Until that has been done the heirs cannot exercise their mineral rights.If the estate was not probated then the rights have not passed legally to the heirs. The estate must be probated. Until that has been done the heirs cannot exercise their mineral rights.If the estate was not probated then the rights have not passed legally to the heirs. The estate must be probated. Until that has been done the heirs cannot exercise their mineral rights.If the estate was not probated then the rights have not passed legally to the heirs. The estate must be probated. Until that has been done the heirs cannot exercise their mineral rights.
Can a heir be forced to sell his share of an estate?
They have a share of the estate. That is not necessarily a share in a specific item or property. The executor sells and the proceeds are distributed per the will. Until you receive the property, you have no control over what is done with it.
Do you get paid to be the executor of a will?
The fees paid to the executor for handling the estate are set forth in the state probate code. Or, it can be done gratis.
What circumstances can be used to force out an executrix?
The removal of the executor is done to protect the estate. The court has the duty to see that estates are administered in such a way as to administer the distribution of the estate fairly, quickly and with no waste to the estate caused by unnecessary delays or unnecessary expenses. When the executor becomes antagonistic toward the interests of the heirs, causes unnecessary delays, or fails to carry out the responsibilities necessary to promptly and efficiently complete the proceeding then a motion should be made to remove and replace the executor.
How soon does an executor execute a will?
It should be done as soon as possible.
Are heirs responsible for medical bills in Texas?
The estate has the responsibility to settle all debts not the heirs. Once that is done, the remainder can be distributed.
Can the executor of the estate transfer ownership of home to executor with consent of living owner?
You can't be the executor of an estate if the individual is still living. Property transfers are done the same as any other time.
Insurance paid for house after my mothers death no heirs on the deed how do i get the house?
Get probate done so that title can officially be transferred to the legal heirs.
Can a executor gives someone else Power of attorney?
Once the executor has been appointed by the court they can appoint an agent by filing a notice with the court. This is usually done when the executor lives at some distance from the court.
Does an executor have the right to repair the deceased property?
Yes. The proper maintenance of the decedent's property is the responsibility of the executor until the property has been sold or distributed. If repairs are needed the executor can make the decision to have them done.
Does an executor of a will who is also a beneficiary collect the executor fee?
They certain can obtain payment for their services. This would be done as a claim against the estate and is separate from their bequest.
Do you need the signature of the co-executor to remove them from a will?
The naming of the executor is something done by the person making the will. If they are still living, they can do what they like and no signature is required.
Can executor appoint a representative?
Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.Generally, an executor can appoint an "agent" who can act on their behalf. This is done when the executor lives some distance from where the estate is being probated or in another state. You should ask the attorney who is handling the estate. If the executor simply wants to appoint someone else to take over their duties that would not be approved by the court. In that case, the executor should decline and let the court appoint another person as executor.
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