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What else can I help you with?
Can an executor of a will take an IRA that named two persons as beneficiaries and divide it among 4 different people?
No, not unless directed to by a Court to do so.A person has a right to name -- and to exclude -- who will be beneficiaries. If I have 4 daughters, but only choose two for this role, then that is my stated wishes. The other 2 daughters have to respect what I wanted.No. An IRA with named beneficiaries does not come under the authority of the executor of the estate because it is not a probate asset. The trustee of the account will pay it directly to the named beneficiaries. That is the purpose of naming beneficiaries.
What can you do if the executor of the will wants to change the will and the other two eirs do not want to change the will?
Only a testator can change her will while she is living. Once a testator has died, the provisions set forth in the will can only be modified by a judge. An executor named in the will has no authority until they have been appointed by a court. This named executor has shown they are dishonest. The other beneficiaries should submit the will for probate and petition to be appointed the executor. The court should be made aware of the named executors suggestion that the provisions in the will should be changed. That is a violation of law.
When you have 2 executor's and 1 of them put you as a secondary executor what happens?
Any executor must be appointed by the probate court. If joint executors are named in the Will they must petition to be appointed by the court. They can only be removed by the same court.
What information should be included in a letter from the estate executor to the heirs or beneficiaries of an estate?
Only you know what you want them to know.
Can the executor sell property in Massachusetts without all beneficiaries approval?
Yes, the only approval necessary is the court's.
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.
Can you cash bonds if sister named executor?
Only the executor has the authority to liquidate assets of the estate.
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 the executor of an estate give permission to his friends to access the estate property and can beneficiaries do the same?
The Excutor is responsible for damange to all property, keeping records of spending for funeral costs, etc., out of the Estate. Technically, the only people that should be allowed on that property is the Executor and the beneficiaries or a real estate agent. Eventually the Will goes into Probate where all creditors will be paid off, all property taxes, personal taxes, etc., and what is left in the Estate will be divided amongst the beneficiaries. It is also customary for the beneficiaries (if not mentioned in the Will) to give 1 1/2% - 3% (can go up to 5%, but a judge would question this) to the Executor of the Will. Being Executor can be a tough job and lots of red tape even if the Estate is on the small side. If the Estate is small then 1 1/2 - 2% is customary, and if it's a large percent then 2 1/2% - 3%. The Executor can have friends on the premises, but is 100% responsible for any damage or missing articles from that Estate. The Executor should let the beneficiaries know, and thus, the beneficiaries should let the Executor know if they have friends on the property. It's a good idea to take a video of each room, any jewelry, art, etc. before anyone goes onto the property besides the Executor or beneficiaries.
Does a lawyer have a fiduciary duty to only the executor of estate or all the beneficiaries of said estate?
The attorney has a fiduciary-client relationship with the executor. Note that if a beneficiary believes they have a valid cause of action against the executor for mishandling the estate the beneficiary must retain their own legal representation. The attorney who is handling the estate will represent the executor.
Can an executor of an estate sign a title when selling a deceased persons automobile?
It will likely depend on the state in which the administration is pending. In Texas, for example, the executor can sell the car (and indeed sign the title) only if (i) the Will gives the executor a power of sale or (ii) the sale is necessary to pay debts of the decedent or expenses of administration. Otherwise, the only action the executor can take is to convey the car to the beneficiaries under the Will.
Is a will necessary if all monetary assets have beneficiaries named?
Someone has to make sure all debts are paid and all taxes filed and paid. And beneficiaries are only named in a will, at least as far as the law is concerned.
