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What else can I help you with?
Can a executor be beneficiary of a will and insurance policy of the decedent?
Yes, it is very common that a member of the family be named as executor.
Can your family member who is executor and beneficiary of estate refuse to pay deceased debts?
The executor cannot refuse to pay properly documented debts. They do not have to pay them personally, the money comes from the estate. If there isn't any money, they show the court the assets and distribution and the estate is closed.
How do you change the executor of an estate after the death of the family member My brother is executor and wants nothing to do with estate. How can I become the executor?
The executor can file a resignation with the court and you would petition for appointment as the successor.
How can one appoint an executor of an estate in the absence of a will?
If there is no will, a court can appoint an executor to handle the estate. The court will typically choose a close family member or friend to serve as the executor.
Can you decline your fee as an executor?
Yes. Most, if not all, states allow an executor to waive their fee. This is common where the executor is also an estate beneficiary, as the fee is taxed as income to the executor. Although this general answer is provided by an attorney, it should not be taken as legal advice regarding your particular situation and no attorney-client relationship is established. For help with your particular legal situation, please consult with an attorney.
What happens when a beneficiary of a will dies before his or her share of the inheritance can be distributed?
If there are no stipulations in the will as to what should be done in the event one of the beneficiaries should die, then the state probate succession laws apply. The executor should contact the probate court for instructions as to the manner in which the deceased beneficiary's share of the estate is to be distributed.
How can someone become the executor of an estate when there is no will?
When there is no will, someone can become the executor of an estate by petitioning the court to be appointed as the administrator. The court will typically appoint a close family member or other interested party to handle the estate's affairs.
How can you change the executor of a will after the death of the family member from a solicitor to another family member?
You have to apply to the probate court. If they find it in the best interests of the estate, they may allow it.
How should you choose an executor for your will?
Select an executor for your will based on trust and relationship. A family member can execute the estate or you can choose two people to be co-executors. Lawyers can do it but they will likely charge the estate a percentage.
How can someone become the executor of an estate in the absence of a will?
To become the executor of an estate without a will, a person can petition the court to be appointed as the administrator. The court will typically appoint a close family member or other interested party to handle the estate's affairs.
What is the fee an executor of an estate receives in Washington DC?
There is no set fee, the executor is appointed by the person making the will and could be anybody, even a member of the family or a trusted friend.
Are executor fees taxable income if the deceased was a family member and the executor was also a beneficary?
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
