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What happens when the wife is the executor ans she has spent some of her husbands estate?
Wiki User
∙ 13y ago
It would be safe to assume that the wife is entitled to the entire estate. As long as she is not shorting debtors, she can spend some of the estate's money, as long as she is keeping good records.
Wiki User
∙ 9y ago
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How do you spend the money from your husbands estate in the state of pa?
Only the executor can do that. They will have a letter of authorization from the probate court. They will provide a complete accounting to the court for the estate and what was spent.
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.
Should a brother charge his sister executor fees if he is named as executor but they are to share the inheritance equally?
It is up to the brother. Most state probate codes allow the executor to charge a fee for their services. Executor duties and responsibilities can take up a lot of time. If there are only two beneficiaries, that will cut down on the executor's tasks somewhat. The brother should keep detailed time sheets for any time spent on estate matters and a deteiled account of any money spent on parking, postage, copying or other costs. The brother can then decide toward the end of his duties whether he wants to charge the estate or not. The executor's fee is a cost of the estate and should be paid before any assets are distributed so that brother and sister each pay equally.
Is an executor accountable for money spent BEFORE death?
They have no control over things that happened before death. They may be able to bring some of it back into the estate.
Can a heir make a executor provide a list from the attorney of all the settlements paid to executor from ongoing lawsuits?
The heir has no such authority. The court requires those accountings as part of the statutory probate process. The executor must list all the assets that come into the estate in the inventory filed with the court. To end the probating of the estate the executor must file a final account showing where and how the assets were spent or distributed. All the estate assets must be accounted for. You can visit the court, request the case file, review all the documents and filings it contain and obtain copies.The heir has no such authority. The court requires those accountings as part of the statutory probate process. The executor must list all the assets that come into the estate in the inventory filed with the court. To end the probating of the estate the executor must file a final account showing where and how the assets were spent or distributed. All the estate assets must be accounted for. You can visit the court, request the case file, review all the documents and filings it contain and obtain copies.The heir has no such authority. The court requires those accountings as part of the statutory probate process. The executor must list all the assets that come into the estate in the inventory filed with the court. To end the probating of the estate the executor must file a final account showing where and how the assets were spent or distributed. All the estate assets must be accounted for. You can visit the court, request the case file, review all the documents and filings it contain and obtain copies.The heir has no such authority. The court requires those accountings as part of the statutory probate process. The executor must list all the assets that come into the estate in the inventory filed with the court. To end the probating of the estate the executor must file a final account showing where and how the assets were spent or distributed. All the estate assets must be accounted for. You can visit the court, request the case file, review all the documents and filings it contain and obtain copies.
My sister was the executor she paid nothing spent several thousand didnt talk to me I had to hire an att to get her bring the estate to probate now im in preforeclosure what can i do?
Ask your attorney to sue her.
Your brother was awarded power of attorney of your dads estate He refuses to discuss any financial issues with your sister and you what is the money being spent on can we see bank statements?
Power of attorney does not apply to an estate. If he is executor, he is not required to share information with anyone but the court.
Does the Power of Attorney have accountability of funds spent before the person dies?
The executor of the estate can request a full accounting. That would make sure that no gifts were given during the last two years.
How to terminate an executer of estate?
I am assuming this question relates to a situation where the executor has already been appointed and the beneficiaries are unhappy with the administration. You can file a lawsuit in the probate court demanding the removal of an executor, however you will have to prove that the executor is acting unlawfully to the detriment of the estate or otherwise not fulfilling his/her duties. Mere animosity between an executor and beneficiaries without proof of some substantial wrongdoing will not serve as grounds for the court to order a removal. These lawsuits should not be filed unless there is serious wrongdoing because with legal fees for both sides a lot of the estate can be spent in the litigation. Besides, courts offer beneficiaries other remedies for problems, such as forcing an executor to make an accounting. Most Courts consider removal of executors a drastic measure.
Do you have the right to know now where the estate money is being spent?
Once an estate is filed it becomes a public record. The executor must file an inventory of all the assets and at the endof the probate process must file an accounting of any assets that were spent or distributed. You can visit the court and ask to see the file. If a long period of time has passed (over a year) and no account has been filed you can ask the court to compel the executor to file an account if you are an interested party.Once an estate is filed it becomes a public record. The executor must file an inventory of all the assets and at the endof the probate process must file an accounting of any assets that were spent or distributed. You can visit the court and ask to see the file. If a long period of time has passed (over a year) and no account has been filed you can ask the court to compel the executor to file an account if you are an interested party.Once an estate is filed it becomes a public record. The executor must file an inventory of all the assets and at the endof the probate process must file an accounting of any assets that were spent or distributed. You can visit the court and ask to see the file. If a long period of time has passed (over a year) and no account has been filed you can ask the court to compel the executor to file an account if you are an interested party.Once an estate is filed it becomes a public record. The executor must file an inventory of all the assets and at the endof the probate process must file an accounting of any assets that were spent or distributed. You can visit the court and ask to see the file. If a long period of time has passed (over a year) and no account has been filed you can ask the court to compel the executor to file an account if you are an interested party.
What is used to calculate 6 percent estate executor fees monies home value bank accounts?
This response may not apply to your country, state or province but here is a response from my experience in Ontario, Canada.............. Certain criteria have been applied in many cases when fixing the compensation of Executors. # magnitude of the Estate; # care, responsibility and risks assumed by the Executor; # time spent by the Executor in carrying out his or her responsibilities; # skill and ability required and displayed by the Executor; and # results obtained and degree of success associated with the efforts of the Executor. Although the above factors provide some guidance in terms of what criteria should govern the calculation of Executor's fees, they do not provide a clear method for arriving at a value for the Executor's compensation. Hence, in an effort to develop some consistency and predictability in the determination of Executor's compensation, a court recognized guideline has evolved. It must be recognized that this is only a guideline and is subject to increase or decrease in appropriate circumstances and may also be disregarded altogether in favour of another approach. The guideline applies percentages to various categories of the Estate receipts and payments and is expressed as follows: * 2 ½ % of the total value of capital receipts of the Estate * 2 ½ % of the total capital disbursements of the Estate * 2 ½ % of the total revenue receipts of the Estate * 2 ½ % of the total of revenue disbursements of the Estate * Annual fee of 2/5 of 1% of the average annual market value of the capital of the Estate Despite the guidelines, courts still require evidence to justify the quantum of compensation claimed by the Executor. This evidence can include time dockets or estimated time logs. In a number of cases, courts have awarded an additional allowance to the Executor where the administration of the Estate was made more difficult than usual by reason of conflicting interests among the beneficiaries; where the Estate has involved the management and operation of a company; or where litigation was initiated by the Executor on behalf of the Estate. On the other hand, courts have reduced the Executor's compensation from the guideline amount in cases where a large Estate which nonetheless was simple to administer was involved or where specific assets were being transferred.
Can an executor withhold information concerning assets to the heir of an estate?
An executor has a legal duty to act in the best interests of the estate and its beneficiaries. Withholding information about assets from an heir may be seen as a breach of that duty. In general, an executor should provide full and accurate information about the estate's assets to all beneficiaries. If an heir believes that an executor is withholding information, they may seek legal recourse to enforce their rights.
