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Is the executor of an estate always required to file an accounting of the distribution of the assets of an estate?
Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.
Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.
Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.
Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.
What else can I help you with?
Can your spouse be the executor of your Will in Canada?
It is very common for the spouse to be the executor of a will. They can always decline the responsibility and the court will appoint someone else.
How do you find out if you an in your parents will?
You can always ask your parents. If they are deceased, the executor of the will can tell you.
When a person dies without a will does the state always step in to appoint an executor?
The executor of an estate is always appointed by the courts, even if there is a will. If the family petitions the court with an agreed upon executor, the court will normally approve it. As long as there are valid heirs to the estate, they will usually go along with the family's wishes.
What should you do if the named executor who is also the main beneficiary is not acting in the best interest of the other heirs?
Either renounce or administer the estate or pay a professional to deal with the matter and the fees would be met from the estate. It is up to the executor to decide. If the exector decides to administer the estate, he or she can be paid a fee (amount varies by state and county). The executor is not a beneficiary and the beneficiary is not the executor. The beneficiaries really have no say as to what the executor should do (i.e., adminster estate, hire attorney to represent estate, or renounce). The executor has a sworn duty to administer the estate in accordance with the deceased's will and the laws of the state and county of probate.
Do you always capitalize the word Accounting?
No you do not.
What if I don't want to be the executor?
If you don't want to be the executor, you can always refuse the assignment. Make sure to speak with the person writing the will or legal document and state your refusal in writing.
Can you check if you are named in a will?
You can always ask the testator if you are in the will. If they are deceased you can ask the executor. They would have to tell you if you are.
Can there be only one co-executor?
No, in fact, you can have as many co-executors as needed. However, as you can imagine, the more co-executors you have, the more complicated administering the estate becomes. I always suggest that only one executor is named, followed by an alternate executor if the original executor cannot act, or has pre-deceased the testator.
Is economic profit always less than accounting profit?
No economic profit is not always less than accounting profit; However, if accounting profit is less than economic profit the business would exit the industry.
In which cases normal distribution is continuos and is not continuous?
The normal distribution is always continuous.
Can the executor sell property without all beneficiaries approving in Virginia?
The executor of an estate always has the ability to sell property if allowed by the will. As long as the court agrees, the desires of the beneficiaries is secondary.
Is the standard normal distribution is continuous?
Yes, the normal distribution, standard or not is always continuous.
