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Should a brother charge his sister executor fees if he is named as executor but they are to share the inheritance equally?
It is up to the brother. Most state probate codes allow the executor to charge a fee for their services. Executor duties and responsibilities can take up a lot of time. If there are only two beneficiaries, that will cut down on the executor's tasks somewhat. The brother should keep detailed time sheets for any time spent on estate matters and a deteiled account of any money spent on parking, postage, copying or other costs. The brother can then decide toward the end of his duties whether he wants to charge the estate or not. The executor's fee is a cost of the estate and should be paid before any assets are distributed so that brother and sister each pay equally.
What else can I help you with?
Brother is executor and purchases family farm cheating siblings from inheritance?
You can take the brother to court. It is recommended that you get an attorney in order to make this right. The siblings should get a proceed from the purchase at the very least.
My mother just passed and my brother is named executor. He is going through a bankruptcy and personal tax issues should he be appointed as executor?
Your brother already has enough going on. The duties of being executor would be too much. Someone else in the family should petition to be appointed executor and your brother should decline.
How does one collect an inheritance?
You need to talk with the executor of the estate. The probate court should be able to assist you in locating who has been appointed as executor.
How do you claim money from your deceased mother?
If it is a debt, you file the claim with the executor. Otherwise you should receive your inheritance when the estate is resolved.
What is an Executor's commission?
A reasonable fee an executor can charge for doing all the work (and there can be a lot of it) in executing a will. This fee will be on top of any expenses and will come out of the estate before any inheritance payouts. Heirs should be able to see what the expenses and commission are, should they wish to do so - it is the duty of the executor to keep detailed records/accounts.
Can someone sue an executor after the probate process is completed?
Yes, if the executor abused their authority, wasted assets, failed to follow the provisions in the will and the probate laws, failed to pay creditors or did any number of things an executor should not do or failed to do things an executor should do. An executor can be held personally liable for their misbehavior.
Who pays an inheritance tax?
Inheritance Tax is paid by the deceased individual's estate. To the degree that an estate's assets are reduced by the payment of inheritance taxes it can be said that heirs "pay" the tax but they are not liable for payment of the tax. An executor/executrix is responsible for determining if taxes are owed, for filing the appropriate tax returns and for making the necessary tax payments. An executor/executix is personally liable should taxes that are owed fail to be paid.
How can I legally bring inheritance money into the US?
To legally bring inheritance money into the US, you should declare the funds to customs when entering the country and provide documentation such as a copy of the will, a letter from the executor of the estate, and proof of the inheritance amount. It is also advisable to consult with a tax professional to ensure compliance with any tax obligations related to the inheritance.
Oldest brother is executor of family estate however he is ill and the remaining 4 siblings want to assign the decision making regarding heir property to next oldest brother What do they do to transfer?
There is no executor until one is appointed by the probate court. You need to petition the court that appointed your oldest brother as executor and request he be removed and a successor appointed. Then, the estate should be settled and the property distributed as provided in the will.
What is an commission?
A reasonable fee an executor can charge for doing all the work (and there can be a lot of it) in executing a will. This fee will be on top of any expenses and will come out of the estate before any inheritance payouts. Heirs should be able to see what the expenses and commission are, should they wish to do so - it is the duty of the executor to keep detailed records/accounts.
Can a beneficiary that couldn't be found during probate period collect on inheritance after probate closes?
Yes. That beneficiary's portion should have been deposited with the court or in an interest bearing bank account. It should be waiting for him. There are many reasons a beneficiary may not be able to be found at the time of a probate of an estate. That's no reason to squander their inheritance. He would have a cause of action against the executor if his inheritance was not accounted for.
How can one get an accounting of monies in my father's estate when my brother is power of attorney and executor and one believes he stole from estate?
The power of attorney is extinguished upon the death of the principal. An executor must be appointed by a court. The executor must file an inventory of all the assets owned by the decedent at the time of his death. If you suspect your brother of stealing you should contact an attorney who can review your situation and explain your options.
