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What recourse do the beneficiaries have if the executor does not distribute the funds?
Wiki User
∙ 15y ago
The answer depends on the laws of the state where the probate took place; however, every state has laws for beneficiaries to force distributions after giving executors some reasonable time administer the estate. After all, before executors can distribute to beneficiaries, all funeral, administration expenses, estate and inheritance taxes (if any) and legitimate debts of the decedent are paid in full. This takes time. As an example of remedies available to beneficiaries in this situation, New Jersey law provides that if a beneficiary is given a specific dollar amount in the will, that amount has to be paid within one year of probate or it will carry an additional 4% interest for the beneficiary. Also, if the beneficiary chooses, he/she can bring an action in probate court on an order to show cause to force the payment. If the beneficiary is entitled to all or a percentage of the net estate available for distribution, the beneficiary can file an action in probate court on an order to show cause to compel the executor to file an accounting and compel distribution. If you have to go to court this way, you probably can do it yourself, however it is better to get a lawyer, who may be able to force payment with a well worded letter, rather than going to court. If the money is given to a trust for your benefit until you reach a certain age and you have not yet attained that age, then the executor will not and cannot distribute anything to you individually. It must go to the trust. If you are a minor, the executor will not and most likely cannot distribute the inheritance to you directly since you are not an adult. The executor will have to distribute the inheritance to a duly appointed guardian, unless that state's laws permit some other distribution. In New Jersey, an executor cannot distribute monies in excess of $5000 even to a parent unless that parent becomes a legally appointed guardian in the probate court where the minor resides, not where the probate took place.
Wiki User
∙ 15y ago
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What recourse do benefiers have if the executor does not distribute the funds?
File a lawsuit against the executor for not following the law.
Can an executor allow a house to be foreclosed on if there is no money in the estate to pay monthly mortgage?
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
When does the executor distribute funds from a probated will?
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.
Can a majority of Beneficiaries remove an Executor who is not operating in the beneficiaries best interests like spending unnecessary funds?
No.It generally requires a court action of some kind to remove an executor. What a "majority" wants is irrelevant; the only thing that matters is whether the executor is acting in good faith in attempting to carry out the wishes of the deceased.Another PerspectiveThe beneficiaries can petition the court for the removal of the executor and the appointment of a successor. The complaints should be set forth in a clear and concise manner with examples of the misuse of funds. If the executor is indeed wasting estate assets the beneficiaries have a right to complain. The court will review the situation and render a decision.
How do I get a will executor to distribute fund allotted to me in a a last will and testimony?
how do I get the funds alloted to me in my grand father last will and testimony ?
In Florida concerning the payment to a beneficiary of a large account with two beneficiaries do both beneficiaries need be present together for one to withdraw their share of the funds?
No, the executor can pay them separately.
Can a solicitor and executor of an estate access emergency funds for the beneficiaries?
It will depend on the laws of the state in question. In some cases the will may make allowances for that.
What are the general duties of the executor of a person's estate?
The executor serves as a primary decision maker in carrying out a deceased person's will. This includes but is not limited to paying off taxes, distributing goods or funds to beneficiaries and filing appropriate legal documentation.
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 you collect money from your dead fathers unclaimed funds if your step mother was the estate representative and she has since remarried?
It would depend on the laws of the specific jurisdiction and the specific circumstances of the situation. Generally, heirs or beneficiaries may have a claim to unclaimed funds, but it is best to consult with a lawyer or probate court to determine your rights in this situation.
Can you challenge your step mother in court who is your dead fathers estate representative in court for unclaimed funds in New York State?
If you are named as a beneficiary in the will you do not need to challenge her in court since she will be legally required to distribute the money to the beneficiaries. They will only release the money to the executor or personal representative and no one else. If you have any doubts, consult with a probate attorney.
How long does an executor have to sell a house and distribute funds to heirs in Virginia?
In Virginia, there is no specific time frame set by law for an executor to sell a house and distribute funds to heirs. However, it is generally expected that this process should be completed within a reasonable time, which can vary depending on the complexity of the estate and any potential legal challenges. Executors should act with diligence and handle the process in a timely manner.
