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The executor has specific powers under the laws in every jurisdiction, once they have been appointed by the probate court. The testator can grant additional powers such as the power to sell real property without a license from the court.
Wiki User
∙ 11y ago
Wiki User
∙ 9y agoThe 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.
Wiki User
∙ 14y agoThey are the person responsible for the estate. They have a fiduciary duty to preserve the value of the estate. A complete inventory and valuation of the assets must be completed. They can then sell assets to pay bills. They must resolve debts and bills and pay all taxes due. Then they distribute the remainder according to the will or laws of intestacy. A full accounting must be provided to the court.
Wiki User
∙ 11y agoAn executor doesn't have rights, they have duties to fulfill. They are given the right to represent the estate and to compensation, but beyond that they are responsible for settling the estate to the court's satisfaction.
Wiki User
∙ 8y agoThe executor is responsible for the estate. They have to preserve its value, inventory all the assets, value all the assets, determine all the debts, settle the debts, pay the taxes and then distribute any remainder.
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Can an executor of a will take over the will?
An executor's powers are limited to that mentioned in the will. If it is impossible to carry out the will, then probate court permission will be required.
What are the powers of executor of will?
The powers are defined by the state. In most cases they give the executor the right to represent the estate in legal transactions. They are also responsible for taking care of the estate and preserving it for proper distribution.
If someone is made discretionary executor of a will are bound by law to carry out the wishes of the person who made the will?
Generally, the powers that ARE discretionary are set forth in the will. The executor cannot make changes to the provisions in the will unless the will explicitly gives that power. The duty of the executor is to carry out the provisions in the will. You should discuss this topic with an attorney.
In Ohio does a personal representative named in the Will have any powers if the estate was relieved of administration no one was named executor and the case was closed?
No. In order to have any authority an executor or personal representative must be appointed by a court.No. In order to have any authority an executor or personal representative must be appointed by a court.No. In order to have any authority an executor or personal representative must be appointed by a court.No. In order to have any authority an executor or personal representative must be appointed by a court.
Can an executor sell a property without bringing the trust to court?
You need to check your details. An executor doesn't manage a trust. If property is in a trust it is not part of an estate and it's managed by a trustee. The instrument that created the trust sets forth the powers of the trustee even when the trust is set forth in a will. Those powers usually include the power to sell real estate. Generally, an executor cannot sell property unless they have filed the will for probate. Then, generally, to sell the property the executor must be given that power in the will or issued a license to sell real estate by the court.
Can a executor withhold funds from beneficiary who has dementia. I have power of attorney and the executor is giving me a hard time about releasing the money to my mother?
Yes, an executor can withhold such funds, but they should be placed in trust for the benefit of the demented, perhaps under various spendthrift conditions or whatever is deemed necessary for protection of the gift. Whether the executor names you as trustee is his or her choice, but you will still have the powers of the POA once the trustees release the funds to you.
What powers does an executor of an irrevocable trust have?
The power to execute the will of the Grantor for the uses and purposes and on the terms and conditions set forth within the Trust itself.
Do executors have the right to know will before death of person?
An executor has to have the will in order to be able to execute it, and if you don't give the executor a copy of your will while you are still alive, you certainly are not going to be able to give him a copy after you are dead, at least, not unless you have a preliminary executor whose function is to give the will to the actual executor - which is really a needless complication.
Will named you as executor but living trust for the house has no executor named Am I still the executor?
The living trust has a trustee, not an executor. The will is a separate process and you would be the executor.
What is the difference between co-executor and independent co executor?
What is the difference between an independent co-executor and a co-executor
What rights do you have as a non-executor adult child of the decedent if the decedent's brother is executor?
The right to inherit has nothing to do with who was named executor. The right to inherit remains valid with all of the children. Consult a probate attorney that knows the laws for your state. ==Another Perspective== The court appointed executor has the obligation and authority to settle the estate. Only the executor has the power to manage the assets, transfer property, close accounts, sell real estate, etc. The executor must follow the provisions set forth in the will. However, all the powers of the office may be carried out according to the discretion of the executor without any interference by the beneficiaries. If the beneficiaries have questions concerning the executor's role they should first contact the attorney who is being paid to handle the estate.
Can an executor be beneficiary of a will in CT How can an executor be removed by an heir?
Yes, the executor can be a beneficiary. The court may remove an executor at the request of the beneficiaries.
