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Can your sister who is the executor distribute your mom's money whenever probate is over?
Yes. As long as she has been appointed the executor by the court she has the authority to collect the assets, pay any of your mother's debts and then distribute the remaining assets as provided in the will.Yes. As long as she has been appointed the executor by the court she has the authority to collect the assets, pay any of your mother's debts and then distribute the remaining assets as provided in the will.Yes. As long as she has been appointed the executor by the court she has the authority to collect the assets, pay any of your mother's debts and then distribute the remaining assets as provided in the will.Yes. As long as she has been appointed the executor by the court she has the authority to collect the assets, pay any of your mother's debts and then distribute the remaining assets as provided in the will.
Grant of probate?
A grant of probate is a legal document issued by a court that confirms the validity of a deceased person's will and gives authority to the named executor to administer the estate according to the terms of the will. It allows the executor to collect and distribute the assets of the deceased individual in accordance with the law.
What are the executor fees in Oregon?
The Executor is entitled to 7% of the first $1000 in probate assets. Then that goes down to 2% for all probate assets over $50,000. The Executor is also entitled to 1% of all the non-probate assets. Although, as always, there can be variants to that based on the circumstances.
Can the inheritors force the executor to sell assets?
No, they cannot force the executor to sell assets. The executor is responsible for closing out the estate and settling debts. Then the distribute the assets.
Is the executor responsible for distributing inheritance?
That is the job of the executor. To distribute the estate and liquidate the assets.
Can someone sue an executor after the probate process is completed?
Yes, if the executor abused their authority, wasted assets, failed to follow the provisions in the will and the probate laws, failed to pay creditors or did any number of things an executor should not do or failed to do things an executor should do. An executor can be held personally liable for their misbehavior.
If your mothers' house is in probate after her death can the executor stop you having access to her property?
Yes, no assets or property can be taken until probate procedures have been completed. In some instances certain personal items, such as photographs can be released to family members with the permission of the executor. The executor is bound by law to protect the deceased's property until assets have been properly accounted for and debts have been paid.
What to do with deceased assets if no executor asigned?
The probate court will appoint an executor. It is often a family member or a neutral party.
A person appoints a child as executor of the estate. is executor of estate required to list assets after that person dies?
That is one of the duties of the executor. They have to inventory the assets and debts of the estate. Then they will be able to liquidate the debts and distribute the assets.
What are the legal responsibilities if an executor?
They have a fiduciary duty to preserve the value of the estate. A complete inventory and valuation of the assets must be completed. 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.
What is the process for probate with a will?
Probate with a will is the legal process of validating a deceased person's will in court. The executor named in the will must file the will with the probate court, notify beneficiaries, pay debts and taxes, and distribute assets according to the will's instructions. The court oversees the process to ensure everything is done correctly and fairly.
Does a will require probate for closure?
Yes. The executor must be appointed by the court. Until officially appointed the executor has no power to distribute the decedent's assets. The title to real property cannot pass to the heirs legally until the estate has been probated.Not every will has to be probated just for the sake of closure. For example, if a decedent has no assets at all then there is no legal reason to probate the will even though there is one in existence. This is because a will transfers title and ownership of the decedent's assets to other persons. If there are no assets to transfer, there is no need to probate a document that has as its purpose the transfer of assets. However, sometimes there are tasks that require the services of an executor (e. g. filing a decedent's last income tax return if necessary) even though there are no assets. In that case, the will must be probated in order to have a duly authorized executor.
