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The court must be notified of the death and it will appoint a successor.
The court must be notified of the death and it will appoint a successor.
The court must be notified of the death and it will appoint a successor.
The court must be notified of the death and it will appoint a successor.
What else can I help you with?
What are the executor fees in Indiana?
In Indiana, executor fees are typically calculated based on a percentage of the estate's value, with a common guideline being 1% to 5% of the estate's gross value. However, the specific fee can vary depending on the complexity of the estate and the agreement between the executor and the beneficiaries. Executors may also request reimbursement for reasonable expenses incurred while administering the estate. It's advisable for executors to keep detailed records and consult with an attorney for guidance on fee structures.
What if a beneficiary of a will dies while the will is being dealt with by the executor?
The beneficiaries' estate will get their share. The executor will continue to process things according to the will.
If a parent dies while house in foreclosure?
The executor of the estate represents the decedent.
Does the executor of a will have rights to distribute the estate before the mom dies?
They certainly do not have the rights. The executor has no power while the testator is still living.
What does an executor of estate do when a will wasn't made and there is a lot of unknown debt Is it mandatory to post who the executor is in the newspaper so these debts can be paid?
That is one of the primary purposes of creating an estate. The executor has to contact all known debtors and advertise for unknown debtors. There has to be a method for these debtors to contact the executor to place their claims.
Is a Real Estate buyer allowed to check a title commitment without seller's permission?
While the estate is being probated, the executor is the legal representative of the estate and has been issued Letters Testamentary that authorize her to act on behalf of the estate. The power to sell real estate is generally granted in the will, if not, then the executor would need to petition for a license to sell the real estate.
DOES EXECUTOR OF AN ESTATE HAVE THE LAST SAY ON WHAT OFFER THEY ACCEPT FOR HOUSE?
The executor of an estate has the authority to manage and sell estate assets, including real property, but they must act in the best interest of the estate and its beneficiaries. While the executor has significant discretion in deciding which offers to accept, they typically must consider the wishes of the beneficiaries and any relevant terms outlined in the will. Ultimately, transparency and communication with beneficiaries are crucial to ensure a fair process.
Is an executor the same as a power of attorney?
No, an executor and a power of attorney are not the same. An executor is responsible for managing a deceased person's estate, while a power of attorney is appointed to make decisions on behalf of someone who is alive but unable to do so themselves.
If dad dies and there is a stepmom who is executor is accounting of estate still required?
There is still a need for an estate. While the current spouse will typically inherit at least half the estate, the children may be entitled to a portion.
Can an executor be set aside in probate?
Yes. A court can decide not to appoint the named executor if any interested party provides a compelling objection to the appointment. Also, the court can remove an executor and appoint a successor if it finds the executor is mishandling the estate, submits a resignation or dies while in office.
Can a vehicle in an estate be taken to a dealership if all heirs do not agree?
The executor determines what will occur. While they will normally attempt to agree with the wishes of the beneficiaries, they are responsible for resolving the estate and its debts.
Can an executor who is also a beneficiary get money from the estate while still in probate?
If the estate contains enough assets to settle all of the debts, they can. Also, the executor is, by law, entitled to be paid for their time. The rate is often set by law and the probate judge has to approve the distribution. If they have properly documented their time, it is reasonable to bill the estate and collect it.
