Do all executors have to act in the administration of the estate?
It isn’t legally possible for one of the co-executors to act without the knowledge or approval of the others. Co-executors will need to work together to deal with the estate of the person who has died. If one of the executors wishes to act alone, they must first get the consent of the other executors.
Who has more power executor or trustee?
Your Executor, however, only has power over those assets not in trust, not held jointly, or not in an account with beneficiary designations. If you have a trust and funded it with most of your assets during your lifetime, your successor Trustee will have comparatively more power than your Executor.
Can a sister be the executor of an estate?
Your sister is not a good steward to oversee the will. The executor has to provide a summary statement to all beneficiaries of how the estate was handled. Each state has regulations on the percentage of the estate an executor can be paid for performing their duites.
Can a sister hold up the distribution of an estate?
It is the law. She can drag her feet but you can force her to settle the estate. No one has the right to hold up the distribution of an estate. What she is trying to do is illegal. As for paying taxes on the inheritance, I don’t know all state laws but in the state I live in there is no tax on inheritance and no federal tax up to 5 million.
Who is the executor of a deceased Bro-in-law?
Your bro-in-law is not executor until appointed by a court. By now he should have filed a petition for probate and you should have gotten notice. Fr died in June. It is his job to marshal the assets. What reason do you have for entrance into the house, other than to take things?
Why do executors not ask for legal assistance?
If it is the desire to save the Estate money that prevents an Executor asking for legal assistance then this is misguided. Inexperience, lack of knowledge including various laws may end up costing the estate dearly. Missing filing deadlines and not taking advantage of exemptions could result in additional costs to the estate.
Your sister is not a good steward to oversee the will. The executor has to provide a summary statement to all beneficiaries of how the estate was handled. Each state has regulations on the percentage of the estate an executor can be paid for performing their duites.
Why are my sister and brother in law being deceitful?
I mostly hate the manipulation and deceit they are displaying. Now my husband and I are fighting because my sister has bullied me into agreeing about the holding onto that tax money. My husband wants me to tell them where to go and to not give the a cent. Up until now I had a very close relationship with my sister and brother in law..
It is the law. She can drag her feet but you can force her to settle the estate. No one has the right to hold up the distribution of an estate. What she is trying to do is illegal. As for paying taxes on the inheritance, I don’t know all state laws but in the state I live in there is no tax on inheritance and no federal tax up to 5 million.
What to do if your sibling is stealing from your estate?
You should consider a trust litigation attorney the moment you suspect a brother or sister is stealing your inheritance or assets from the estate. Often a trust attorney can quickly begin communications with the suspected sibling and/or their attorney, and resolve the theft quickly.
