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What else can I help you with?
Does the executor work for the beneficiary?
No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.
Should statements of accounts be sent to beneficiary?
what information should executor give to beneficiary regarding accounts.
Can an executor deny a beneficiary access to the deceased property?
No they can't. However, if the beneficiary is being unreasonable, then the Executor has the right to ask the beneficiary to deal with him through their lawyer. Answer An executor can deny a beneficiary access to property in an estate. Once again though, you must check the laws of the jurisdiction which govern that estate. Most states have laws that say that an executor is entitled to possession and control of all estate assets during administration. Many also provide that if an executor demands that a beneficiary give back an asset that the beneficiary has taken, the beneficiary must give it back. This is necessary for the orderly administration of every estate. You can imagine the chaos that would ensue if every beneficiary had full access to everything in the estate while administration of the estate is going on. Don't forget that the other parts of settling an estate may involve the sale of some items in order to pay debts owed by the deceased. It is often more easily and efficiently done if you let the executor--named by the deceased--complete the job.
Does the executor of will have the right to give out life ins payout?
Possibly. First, if the policy states that the proceeds go to a specific named beneficiary, then the executor has no authority at all over it. In fact the executor has no right to even collect it for that beneficiary. Second, if the policy is payable to the estate, then the proceeds are to be distributed according to the terms of the will, not his own choices. Sometimes insurance is payable to an estate if the decedent names his estate as the beneficiary (highly unlikely) or if the named beneficiaries hav predeceased and there is no one left to receive the proceeds (it does happen but rarely).
Does an estate have to sell real property to meet a beneficiary's claim of assets?
If there are specific items given out, the executor must give it to those individuals. A beneficiary doesn't normally have a claim against the estate. All debts have to be resolved before distribution.
Can the executer of a will refuse to give the beneficiary their inheritence?
Absolutely not. And take note, no one is an executor until they have been appointed by a court. The will must be filed in probate and the court will appoint the executor. Once appointed the executor must settle the estate according to the provisions in the will and the state probate laws under the supervision of the probate court. Any executor who fails to perform their duties according to the will and the law can be sanctioned by the court.
What to do when you discover the executor never told you that you were also named joint beneficiary with the executor to the same estate 14 years ago and is unwilling to give you a share?
Interesting...I would say that you should find out who the lawyer was that handled the estate issues and go after HIM AS WELL.
How can I check a deceased relatives bank account?
If you are the executor/administrator of the estate just ask the bank for all information about any and all acounts he may have had including ones that have been closed out. You could also request copies of past monthly statements and 1099s. If you are not an executor, you will not be given any information by any banks. If you are a beneficiary of an estate and want to find out if there were any improper withdrawals or missing deposits, you could demand that the executor give you copies for your assurance. Generally only beneficiaries that receive a percentage of an estate may make that request. If a beneficiary is given an specific amount of money and is paid that amount, then the beneficiary has no right to that information. Dwpending on the state in which the decedent's estate is, there may be additional methods. This answer is not intended to give you every avenue available to you.
Can you pay a beneficiary with stock?
The answer depends on the facts of the particular situation, how the will reads, what the beneficiary is given under the will and other factors. Also the laws of the state of probate should be taken into consideration as well as they might have a bearing. In the typical case where a beneficiary is given a specific dollar amount of money, you cannot pay the beneficiary with stock unless the beneficiary and the residuary legatees agree to it. If the beneficiary is given the stock itself, then the beneficiary must be paid with that stock unless he directs the executor to sell it and give cash instead. Even in that case an executor might refuse to sell the stock and tell the beneficiary to sell the stock himself after he receives it. If the beneficiary is given a portion of the residuary estate (which would include all sorts of assets) the beneficiary has the right to request the stock itself, but only in proportion to his/her share in the residuary. If the situation is that there are two residuary legatees and the value of the estate available for distribution is composed of cash and stock having equal value, the executor cannot force one beneficiary to take the stock and the other to take the cash unless that is what they agree to.
Can you give me a sentence using the word beneficiary?
A beneficiary is a person or group that receives benefits so a sentence you could use would be something like, "The beneficiary of the million dollar check was quite happy," or something to that extent.
Can the executor of an estate also be a beneficiary?
Yes. It is common for a beneficiary to be also named the executor. The contents of a Will remain private until the death of the testator so the person who is named as executor may not be known until the Will is read. As the role of an executor is merely to distribute the assets of the deceased in accordance with the terms of the Will of the deceased, an executor will have no say in how the Will is prepared or to whom the assets should be distributed. Therefore, there is no legal reason why an executor should not be named as a beneficiary in a Will. In fact it is quite often preferable for a family member (and beneficiary) to act in the role of executor. That arrangement is frequently used in wills executed by husband and wife or life partners where each leaves the entire estate to the other and names the other as the executor.
Can a will be written by a relative who is the main beneficiary and executor and attorney of record in Oklahoma?
Anybody can write a will. However, only the individual can write a will for their own property. A power of attorney does NOT give the individual the ability to write a will for the grantor.
