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Do most family members charge the estate for being an executor?
Wiki User
∙ 10y ago
Yes. And, there is no amount of money that makes it worth it; being the familial executor is a huge pain, and better accomplished by a disinterested third party. There is quite a market for this, in fact. Even though executors are usually chosen in the will, and family members, many electees recognize the potential for conflict and long lasting scars that may result, and opt for a third party execution of will.
This is a contrast to tradition, however, in which the estate holder generally accorded the rights of execution of will to the firstborn or other--so called 'blessed,'--individual expressly so that they would get 'the lion's share.'
Wiki User
∙ 10y ago
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Can a family member purchase a house in probate?
Yes. The sale must be approved by the court as evidenced by a license to sell real estate or the will sometimes grants the executor the power to sell real estate at a public or private sale, at their own discretion and upon their own terms.
What the estate called in Gone With the Wind?
If you mean the O'Hara family estate, it was called Tara.
What was the Olympian Goddess Hera in charge of?
she was in charge of family matters.
How many members of the Danish royal family are alive at the end of the play in Hamlet?
All the members of the family that we know of are dead.
What are the release dates for The Will Family Secrets Revealed - 2010 The Estate of Johnnie Taylor 2-3?
The Will Family Secrets Revealed - 2010 Estate of Wilbur Robinson 1-3 was released on: USA: 17 November 2010
What is the name of the person in charge of a family estate?
Executor
Can a executor hide the will from his only children from his first marriege?
The executor has no duty to his own family members. His duty is to the estate and the probate court.
How can you have the court appoint a third party executor for Texas estate?
There are several reasons why the court would appoint a third party executor for a Texas estate. You can have the court appoint a third party executor for an estate once all family members that were named as executors are unsuitable to be an executor.
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.
Can you be executor of estate with no assets in estate?
Yes. This can make sense in order to close out the debts of the deceased and prevent creditors from annoying surviving family members.
What rights do the non executor surviving children of deceased parents have to the estate when only one is named executor?
The named executor must submit the will for probate and request appointment as the executor. Once appointed they will have the sole authority and responsibility to settle the estate. The executor should hire an attorney, especially if there is real estate.The other family members have no right to interfere with the executor's handling of the estate unless the executor fails to perform their duties properly. They do not have any right to handle any property of the estate. The executor must follow the state laws that govern estates and the debts must be paid before any property can be distributed to the heirs. The executor will be eligible to charge a fee for their services and the fee is set by law. Any family member can monitor the progress by visiting the court and requesting to review the probate file.
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.
After death of the grantor of POA who is in charge of the estate?
A Power of Attorney has no relationship to the estate. A Power of Attorney automatically ends at the death of the grantor. The will names an executor who will be responsible for the administration of the estate. If there is no will, the court can appoint an executor. If there is no family member that all the beneficiaries agree can be the executor, the court will appoint a bank or attorney to serve as the executor, at the appropriate fees, of course. Consult a probate attorney in your state or country for further information. The executor named in the will or the administrator appointed through the court if there is no will is in charge of the estate after death. The power of attorney has no effect once the grantor dies.
Can a executor sell the home in the will if it is split with another family member?
The executor of the will has the ability to sell property of the estate. They may have to in order to pay off the debts of the deceased. The value of the property after the debts are cleared would be split between the family members.
Do family members of a will have to sign off to the executor?
It is important to distinguish here between 'family members' and 'beneficiaries'. If the will leaves the estate to people who aren't family members, then no, those family members do not have to 'sign off' the will. If, however, family members are beneficiaries according to the will, then yes, the beneficiaries will have to sign a release once they have collected whatever amount has been left to them in the will.
In Colorado what happens to your debt and car loan if you die?
Someone, normally a family member, will be appointed as executor of your estate. That person is in charge of your assets and debts as allowed by law.
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.
