I'm not seeing a problem here. It might help if you stated what you think would happen. It's not terribly likely that this would happen ... one would assume that normally anyone close enough to the decedent to be named in his or her will would be aware of the sad event rather sooner than the will could be probated.
In the United States an executor must be appointed by the court. In Canada an Executor can be assigned through the will by the deceased. The executor must prepare all the documents and perform all the due diligence prior to the estate being granted probate by the courts. The executor is the designated person who handles all the affairs of the deceased and is the liaison person between the beneficiaries and the lawyer.
After a person dies with a will and the estate is probated how long does the executor have to wait until assets are distributed to the beneficiaries?
Briefly, the will needs to be presented to the probate court for allowance. By that process the court will appoint an executor and from that point on the court will have jurisdiction over the estate. The executor will be obligated to follow the provisions in the will and you will have the legal right to monitor the probating of the estate. No one has any power to act until the will has been probated. Title to the property does not pass until the estate is probated.
The estate must be probated and the executor should ask the attorney who is handling the estate how and when to make the transfer.The estate must be probated and the executor should ask the attorney who is handling the estate how and when to make the transfer.The estate must be probated and the executor should ask the attorney who is handling the estate how and when to make the transfer.The estate must be probated and the executor should ask the attorney who is handling the estate how and when to make the transfer.
They have to wait until the debts are settled. That may be as short as about 4 months. It can take years on a really complex estate.
If they refuse to accept payment, the amount is then spread out amongst the other beneficiaries. If the court accepts the distributions, the estate can be closed.
A will must be probated so the court can rule the will is technically valid and can appoint the executor. No one has the legal right to act as the executor until they have been appointed by the court and issued letters Testamentary. Title to real estate will not pass to the heirs until the estate is probated.
The executor of a probated will should distribute the proceeds of the will after it is settled in probate court. Some states have laws in place that state a certain time limit for the funds to be issued to heirs.
Yes, the only way an executor can be empowered to act as an executor is by having the will probated and having the court issue documents to the executor that state that that person is the executor.
It is not a requirement in most cases. The state may require a bond for the executor.
This can be possible if the executor can show evidence that the beneficiaries of the will would be the same even if the testator had died intestate (without a will). Or, if all interested parties to the will come to a written agreement and accepts the will as it is written and no one contests the will.
First, the estate must be probated and the executor must be appointed by the court. Then there are different ways the executor can purchase the real estate. They could petition the court for a license to sell the real estate with the executor as the purchaser after a fair market offer has been accepted by the beneficiaries. The executor would need to obtain the assents of all the other beneficiaries to the petition. The court would likely allow such a transfer. Another method would be for the executor could wait until the probate procedure has been completed and then purchase the property from the beneficiaries who inherited it and are now the legal title holders. Either way, the executor should consult with the attorney who is handling the estate to make certain the transfer is done properly and title is passed legally.