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What is the time limit to probate a will in Alabama?
After a person dies with a will and the estate is probated how long does the executor have to wait until assets are distributed to the beneficiaries?
How can someone become the executor of an estate?
To become the executor of an estate, a person must be named as such in the deceased individual's will. The court will then officially appoint the executor after the will is probated. The executor is responsible for managing the deceased person's assets, paying debts, and distributing the remaining assets to beneficiaries according to the will.
Can an executor decide the distribution of assets among beneficiaries in a will?
Yes, an executor is responsible for distributing assets according to the instructions outlined in the will. They must follow the wishes of the deceased as specified in the will when distributing assets to beneficiaries.
Are you an executor to a will forever?
No, once the will has been executed and the assets distributed the task of the executor is finished
Is there a way to see values awarded beneficiaries of a will?
If the will was probated the will and all ofhter documents filed with the court are now a public record. The executor should file a final account when the estate is closed. The final account should document the disposition of the decedent's assets. You can go to probate court, request the file and then review it to determine how the property was distributed.
Can an executor withhold information concerning assets to the heir of an estate?
The executor must file an inventory of assets with the court and at the end of the probate procedure they must file an accounting to notify the court where all the assets were spent or distributed. You can visit the court and review all the filings in the case. If they withhold information or assets from the court they will be held personally liable and can be removed. If you have proof you should notify the court.
Can you do a partitation on property were there is a will?
Yes, when there is a will, the property is distributed according to the deceased person's wishes as outlined in the will. The executor of the will is responsible for overseeing the distribution of assets to the beneficiaries as per the instructions in the will. It is advisable to engage legal counsel to ensure the proper execution of the will and the distribution of the property.
What is distribution in kind?
Distribution of asssets "in kind" generally means that the asset itself is distributed to a beneficiary as opposed to the asset being sold with the cash being distributed. An example is where an estate has physical assets like stock certificates or real estate. The beneficiaries can normally request that they get the certificates or property (in kind) or that those assets be sold by the executor with the cash being distributed.
Is the Executor of the Will responsible for paying the debts of the deceased?
Yes. That is one of the duties of the executor. The debts must be paid out of the assets of the estate before legacies are paid to the beneficiaries.
What if you are the sole executor of your mothers estate what does that mean?
You would be the executor if you were appointed as such by the probate court. Simply being nominated in a Will isn't sufficient. It means that you are the person who is charged with the fiduciary duty to classify and pay debts, file appropriate tax returns, and ensure that assets get distributed to the beneficiaries under the Will.
Can the the executor keep the heir's half of an inheritance?
In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.
Does the executor of a will have to pay for outstanding debts of a deceased parent if there is no money or property to sell?
The estate is responsible for the debts. The debts must be paid by the executor before any assets can be distributed. If the executor distributes any assets while the debts are outstanding, she/he may be personally liable. If there are no assets the estate is declared insolvent and the creditors are out of luck.
