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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 else can I help you with?
Can a executor change a will and split it 5050 with anouther person when the will does not state that?
No. Executors must carry out the terms of the will as they are written with this exception: The beneficiaries may agree amongst themselves to divide the estate in a manner other than that in the will. This is just recognition of the fact that people can make gifts as they see fit. This does not give an executor power to do that. The beneficiaries do it and instruct the executor to make the distribution the way they want to.
How does the attorney or executor split the money of the deceased that did not leave a beneficiary name?
They will do it according to the law. Each state or jurisdiction has a law that specifies how it is distributed.
Can the executor of the will take what she wants without informing the beneficiaries of what she is taking and throwing away the things she doesn't want without our knowledge?
That is an interesting question. In most cases the will dictates who is supposed to get the assets of the deceased person. In some cases, there are items that are not addressed. If the executor takes possession of something that is addressed in the will and does not distribute it as directed, then there is a violation of law and there could be civil or criminal charges filed. IF the items that are in dispute are not addressed in the will, a good executor will facilitate a process to divide those assets.
How can i obtain a copy of a dead person's will as i am a beneficiary of the estate?
How do you know that you are the beneficiary if you do not have a copy of the Will! Wills are usually lodged with solicitors or with the executor(s) of the Will. The executors must have the original Will document and are responsible for putting the Will/Estate through probate. At this point the Will becomes a public record (that anyone can see) and the executors are then supposed to divide up the estate as specified by the will, ensuring the beneficiaries get their legacies. I no will can be found, then you countries "intestate" rules will apply regarding beneficiaries of the estate.
Is the executor of a will responsible to pay city and county taxes due on the property or should costs be split between heirs?
One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.
Can the executor sell the house without permission from the beneficiaries if there isn't a will?
That is one of the responsibility of the executor, to liquidate the assets of the estate and divide them according to his/her interpretation of the intention of the will. The executor need not ask permission of any other siblings so long as the results are anything near the original intent of the will. The executor is required to provide a full inventory and accounting to the probate court as part of the final settlement.
What if executor never divided the will asets?
If the executor never divided the assets, find out why and give your definition of never. Frequently, assets are not divided for a period of 9 months or a little more. If the executor has given the final report to the probate court and then does not divide the assets, you may have a reason to complain. After you have checked with the executor, you might need to check with a lawyer.
Do the cardiac cells grow or divide throughout a persons life?
They cannot divide through out the life.There is a limid in dividing.
The Will provides that we divide the estate between four people. The executor wants to keep the cars. What should we do?
An inventory must be filed with the probate court and property such as cars and real estate must be appraised as to their value. If the executor is one of the four beneficiaries and the value of the cars is greater than their 25% share of the estate, the executor will need to make up the difference by paying the other three the total amount by which the value of the cars exceeds their share of the estate.A probate must be filed in order to transfer legal title to the heirs. If there is no real property there may be an accelerated procedure. You should inquire at the local probate court or consult with an attorney who specializes in probate law.
How do you divide personal assets equally when administering an estate?
That is one of the challenges of being the executor. The estate has to be inventoried and valued. There are actually software programs that can help with this.
Your father died without a will in Ky and your step brother is executor of his estate and you think the amount he sent to you may not be fair?
If your step brother is named the executor of your father's estate, he can divide things up as he sees fit. If you really think he is being unfair, you can get a lawyer and take him to probate court.
Can the executor of the will read it?
only in the movies is there a "reading of the will" when all the family gathers. in reality, depending on the state decedent died in, the original will is deposited with court. If the estate is over $100,000 in California, a Probate Petition is filed and a court process proceeds. Regardless of all the legal stuff...if you are a beneficiary, or heir-at-law, ask the executor for a copy of the will.
