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What do you do if you suspect an executor to be taking money from the estate?
Wiki User
∙ 12y ago
Report the matter to the court that made the appointment immediately.
Report the matter to the court that made the appointment immediately.
Report the matter to the court that made the appointment immediately.
Report the matter to the court that made the appointment immediately.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoReport the matter to the court that made the appointment immediately.
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Are executor fees taxable income if the deceased was a family member and the executor was also a beneficary?
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
Can the executor of estate be held liable for taxes owed if estate is insolvent?
No, the executor is not personally responsible. It is their duty to value the estate, resolves debts based on the assets. If there is not enough money, it is reported to the court with the distribution plan and some people do not get paid.
If a deceased person receives a letter for back taxes what should his or her relative do?
Pass it to the Executor of the estate. It has to be paid, if there is enough money in the estate, before making any bequests.
How can you find out if an executor of a will didn't distribute money to beneficiaries on the will?
Check at the county courthouse probate court to look at the file to see how the estate was handled.
Can an executor write checks from the estate account to himself?
Yes, if they have a right to the money either as a beneficiary or as payment for their work. They have to provide a full accounting to the court.
What to do when all assets stolen by sibling before estate probated?
The executor or administrator of the estate should sue those people for the wrongful taking of the decedent's money. If the sibling who stole the money is the executor or administrator, you can bring an action in the probate court to have that person removed as executor or administrator and have another person appointed who would sue for the return of the money.
Is the executor of an estate paid on full value of house or what is owed?
The executor's fee is based on the value of the estate. Money owed is not a part of the estate, it is a claim against the estate.
I have a full accounting of the estate funds and the executor took money from the estate how do get this money back from the executor I am a beneficary?
The executor is entitled to be paid for their work. The court has to approve the distribution and the fee they charged, which is often set by law. If the estate has been closed, you can sue the executor if they breached their fiduciary duty.
If you are the executor of an estate and owe money to a lien holder can they go ofter money in the estate?
No. A personal creditor of yours has no right to attach the estate for which you are the executor. However, if you are also a beneficiary of that estate the creditor can go after your portion of the distribution.
As an executor of an estate you received money do you pay taxes on it?
The fee paid to the executor is considered taxable income.
Can an executor sue a ex spouse who owes money to estate after 10 yrs?
It will depend on the documentation and when the debt was incurred. The executor can bring suit on behalf of the estate.
Is it unlawful of executor to spend estate money like its theres?
Yes. The executor should be reported to the court immediately.
Are executor fees taxable income if the deceased was a family member and the executor was also a beneficary?
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
Is an executor entitled to a commission on the estate if the home is left to him and the money is to be distributed among 3 siblings?
No. The executor gets no commissions. They get paid a fee set by the state.You need guidance from the attorney who is handling the estate. An executor is personally liable for mishandling estate property or funds.
Can an executor spend money from the estate to alter a house before he releases it to the beneficiaries?
An executor is charged with acting in the best interests of the deceased and adhere to the stipulations of the will. An executor may acquire money from the estate if: 1. there are specific stipulations in the will that the executor is entitled to funds as compensation for their efforts. 2. The executor is a named beneficiary of the will, a situation that often happens with couples.
Can your family member who is executor and beneficiary of estate refuse to pay deceased debts?
The executor cannot refuse to pay properly documented debts. They do not have to pay them personally, the money comes from the estate. If there isn't any money, they show the court the assets and distribution and the estate is closed.
You are power of attorney for your mother you have to pay private pay for her if she passes before the money is spent who gets the money?
The money belongs to her estate. The executor of the estate will distribute it according to the will.
