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.
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.
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.
The executor can decline payment. This is often done by a family member serving as executor.
It is common for a spouse to serve as executor. It is typically done without pay in that case.
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.
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.
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.
It should be done as soon as possible.
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.
The fees paid to the executor for handling the estate are set forth in the state probate code. Or, it can be done gratis.
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.