0
How long does an executor have after a will has been probated to disperse the estate to the named heirs when a home has to be sold and money derived from the sale divided?
Once the Probate is completed (approx. 8 months to a year in Canada) then a lawyer will be sure all is legal and he will give the checks to the Heirs.
If the Heirs know approximately how much they will get out of the Will they are free to take a copy of that Will and take it a bank and take out a loan for as much as their inheritance will bare. When they get the inheritance, and if they are smart they'll pay their debt off in full. No monies can be touched until the IRS and creditors are satisfied and Probate has passed.
What else can I help you with?
How long does an executor have after a will has been probated to disperse the estate to the named heirs A home has to be sold also and money derived fro sale also divided in boise id?
It will depend on the complexity of the estate. There is no time limit on the execution of the estate.
Does an executor have full control of how the estate is divided if there is no will?
The executor has no control over how the estate is divided. Each state has laws on how the property is divided when there is no will.
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.
Can executor of will sell the property if will states property is to be divided equally among his children?
Only the children can sell the property which they jointly own. The executor cannot sell it, unless the children ask him or her to do so on their behalf.
Can an executor sell a family home that has to be shared and shared alike by 6 siblings?
Yes, the executor may sell the home. The money would be used to pay debts and taxes. The remainder would be divided according to the will.
Can an executor take ownership of estate property if it was supposed to be divided among beneficiaries?
No. First, the executor has no authority until the Will has been submitted to probate court and allowed, and they have been appointed by the court. Second, the executor must carry out the provisions in the Will. They cannot change it.No. First, the executor has no authority until the Will has been submitted to probate court and allowed, and they have been appointed by the court. Second, the executor must carry out the provisions in the Will. They cannot change it.No. First, the executor has no authority until the Will has been submitted to probate court and allowed, and they have been appointed by the court. Second, the executor must carry out the provisions in the Will. They cannot change it.No. First, the executor has no authority until the Will has been submitted to probate court and allowed, and they have been appointed by the court. Second, the executor must carry out the provisions in the Will. They cannot change it.
What is the meaning of the word insects?
Derived from the latin word insectum for "With a notched or divided body".
Can executor hold back monies when will says estate divided by heirs equally?
The executor can hold back some of the money. This is often done to make sure that all tax liabilities have been satisfied. There may also be court costs and other debts to settle.
How did the value of pi was derived?
The circumference of any circle divided by its diameter is always equal to pi.
Is the unit for density a derived unit or a base unit?
That will obviously depend on the system of units chosen. In the SI (International System), it is a derived unit (mass divided by volume).
What is the meaning of derived physical quantity?
The derived quantity is a quantity which has been derived from 2 or more base quantities. Example: Velocity is the rate of change of distance and is written in terms of distance divided by time which are two base quantities.
Can a child of a deceased claim the property from other children because that child lived with the deceased?
There's some wiggle-room in estates, depending on whether the executor needs to file the will. For example, a living spouse may choose not to file the will with the probate court. However, if the Executor must file the will, more rules apply. In most situations within families, the Executor allows children (minors and adult children) to remove the child's own possessions and a few keepsake type items, especially if the executor is aware that the deceased wanted a certain child to have something in particular. BUT, the Executor is also responsible to the Court once a Will is filed for probate. The executor has the responsibility to "oversee" the contents and arrange for / take an inventory. Anything in the house, NOT owned by the children, should be listed in the inventory. The executor/executrix also 'advertises' for debtors/creditors to submit their bills or money due, and is responsible for listing each debt, who is owed, who was paid, and all monies due to the estate. The total of debts after being paid is subtracted from the total estate's "worth". Every cent / dollar must be listed in the accounting. From the balance, the executor/executrix I believe can take a small fee for doing the job; ask at the Clerk of Courts for the exact amount allowed. After the sale of real property and personal property, then the remainder of the estate (in dollars/cents) is divided per the will's instructions. If you are unsure whether you are mandated to file the Will, or unsure of how the estate's personal property is to be "divided" per the will and at what point it should be divided -- and how to calculate an "equal" division -- I urge you to consult an attorney. Internet websites cannot give legal advice, nor do we know your State's laws.
