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When does the executor distribute funds from a probated will?
The executor of a probated will should distribute the proceeds of the will after it is settled in probate court. Some states have laws in place that state a certain time limit for the funds to be issued to heirs.
How do I get a will executor to distribute fund allotted to me in a a last will and testimony?
how do I get the funds alloted to me in my grand father last will and testimony ?
Does the solicitor distribute money to heir or exector?
The solicitor typically distributes money to the executor rather than directly to the heirs. The executor is responsible for managing the estate, including settling debts and distributing assets according to the will or intestacy laws. Once the executor receives the funds, they will then distribute the appropriate amounts to the heirs as outlined in the will.
How long does an executor have to sell a house and distribute funds to heirs in Virginia?
In Virginia, there is no specific time frame set by law for an executor to sell a house and distribute funds to heirs. However, it is generally expected that this process should be completed within a reasonable time, which can vary depending on the complexity of the estate and any potential legal challenges. Executors should act with diligence and handle the process in a timely manner.
Can the estate recover funds from overpayment to heirs?
It is probable that there will be different laws relating to this in different countries so you really need the services/advice of a lawyer (attorney). However, basically it is the executor's (the person named in the will to execute the will) job to settle the estate's debts and distribute the remainder of the estate to the heirs as set out in the will. If there has been an overpayment or mistake made by the executor then the executor would possibly be personally liable to correct the mistake (especially if the executor was a professional). Recovering funds once they have been paid out would not be a likely course of action.
Can executor be prosecuted for embezzlement of estate funds?
Yes.
Can a executor withhold funds from beneficiary who has dementia. I have power of attorney and the executor is giving me a hard time about releasing the money to my mother?
Yes, an executor can withhold such funds, but they should be placed in trust for the benefit of the demented, perhaps under various spendthrift conditions or whatever is deemed necessary for protection of the gift. Whether the executor names you as trustee is his or her choice, but you will still have the powers of the POA once the trustees release the funds to you.
Can executor of estate cash check to the person?
Yes, an executor of an estate can cash a check made out to the estate, but they must do so in accordance with their duties and the laws governing the estate. The funds should be deposited into the estate's bank account to pay debts and distribute assets according to the will or state law. It is important for the executor to maintain accurate records and ensure all transactions are transparent and in the best interest of the beneficiaries.
Can an executor use estate funds to buy anything they desire?
Of course not.
Can an executor allow a house to be foreclosed on if there is no money in the estate to pay monthly mortgage?
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
Is a executor liable for any bills?
The executor is not personally liable. They are required to use the estate funds to resolve bills.
The financial management board fmb and the financial working group fwg implement a quarterly phased plan that allows the fma office to distribute funds to?
responsibility center managers, who in turn, distribute the funds to cost center managers.
