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When an elderly has been declared incompetent dementia can the change the executor?
It is called 'Power of Attorney' when a person is still living, but unable to make their own decisions regarding money or medical matters. No, the elderly person if found incompetent cannot change the executor in the Will. If for instance the executor is John Doe, but Power of Attorney is Jane Zero then Jane Zero will be the one making decisions over money and medical matters according to the elderly person's Will. One can hire a lawyer to see if there are any legal loop holes to change things around should there be any problems protecting the elderly person as the Power of Attorney or Executor as it stands to date.
Is an executor allowed to bar access to a home?
The executor is responsible for the estate's assets. This means making a complete inventory of the house. The inventory must then be submitted to the court. They can protect the assets by preventing access to the home.
Can the executor change any legal information or bank information if the person is considered incompetent?
The executor has no power over a living person. They could be appointed conservator by the courts and have the ability to do so. The executor is only appointed after the death of the testator.
What is statutory inventory in a will?
The court appointed executor must file an inventory of the estate with the court. Once the debts have been paid and the remaining estate has been distributed the executor must file a final account to show the disposition of the assets that were reported in the inventory. The court will compare the two documents and either allow the final account and close the case or ask the executor to provide more information.
Can a house be emptied by an executor before the will is read?
There is no formal reading of the will. The executor must inventory and value all assets of the estate. They have to provide an accounting to the court.
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.
How can someone become appointed as an executor?
To become appointed as an executor, a person must be named in a will as the executor by the deceased individual. The court will then validate the will and officially appoint the executor to carry out the instructions outlined in the will.
Can executor who has grant of probate distribute the estate between other executors and beneficiaries?
That is the job of the executor. They have to inventory the estate, value the property, resolve debts and then distribute the remainder.
Does an heir sibling to an estate have a right to enter estate after death of a parent if they are not the executor?
They do not have that right. The executor is responsible for the property and can allow, or not allow, access to the premises. The executor has to inventory the property of the estate and value it before distributions can be made.
Is it mandatory to file an inventory with probate court fl?
Yes an inventory is part of the required duties of the executor. A full accounting of all assets and debts is required.
Can an executor force a beneficary to release monies left to them?
The monies are not the property of the beneficiary until the executor has released them. Any assets of the deceased have to be provided to the executor for inventory and valuation. Only once the debts have been settled can things be released.
If a person becomes mentally incompetent and has activated power over medical and power of attoney can the executor of the estate also be activated?
The person is still living. The executor can only become authorized by a court order once the person is dead.
