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What should you do if the named executor who is also the main beneficiary is not acting in the best interest of the other heirs?
Wiki User
∙ 17y ago
Either renounce or administer the estate or pay a professional to deal with the matter and the fees would be met from the estate. It is up to the executor to decide.
If the exector decides to administer the estate, he or she can be paid a fee (amount varies by state and county). The executor is not a beneficiary and the beneficiary is not the executor. The beneficiaries really have no say as to what the executor should do (i.e., adminster estate, hire attorney to represent estate, or renounce). The executor has a sworn duty to administer the estate in accordance with the deceased's will and the laws of the state and county of probate.
Wiki User
∙ 13y ago
Wiki User
∙ 17y agoFile a request with the court for a new executor. Or at least for a full accounting of the estate and the actions taken. If the judge feels that they aren't acting in the best interests, they will appoint someone else to be executor. Which is not always the best thing for the estate, as they are likely to charge more than a beneficiary does.
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Should statements of accounts be sent to beneficiary?
what information should executor give to beneficiary regarding accounts.
Can my primary beneficiary be executor?
Yes. However, they should not be a witness to the will.
Can an executer cheat the beneficiary of the estate?
Of course not. If the beneficiary has reason to believe the executor is mishandling the estate they should complain to the court that appointed the executor immediately and ask the court to review the situation.
What would a sole beneficiary expect to receive?
A sole beneficiary should, in theory, receive the entire estate, minus the fees of the executor.
If a beneficiary did the job of the executor and the executor still wants their comission can you challenge them in court?
Of course you should bring the matter to the attention of the court. However, the court may consider the person who did the work for the executor a volunteer. The executor was the court appointed estate representative. The beneficiary should have stayed out of it. It brings to mind the Tom Sawyer story about painting the fence.
What does an executor do if a beneficiary does not cash an estate check In this case the estate has been closed for six months?
The executor should contact the beneficiary to see if the check was ever received. If it was they should request it be cashed immediately. If not, depending on the type of check used, that executor should arrange for a replacement. It would seem that the checks were simply mailed out with no request for the beneficiary to sign any release. A signed release shows the funds were received.
In the state of Virginia can an executor also be witness to and beneficiary of a will?
Being named the executor and the beneficiary, and then signing as the witness would leave the will vulnerable to challenges. A beneficiary is often named as executor in a last will. Generally, you should not be a witness or notary of any written instrument from which you will benefit. However, in Virginia it may be legal according to the following section: § 64.1-51. Interested persons as competent witnesses. No person shall be incompetent to testify for or against the will solely by reason of any interest in the will or the estate of the testator. You should check with an attorney in Virginia who specializes in probate.
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.
Should sibling who is executor and is inheriting estate residual be able to get executor fees from other sibling who is inheriting most of estate in real estate?
Yes. There is a lot of work and responsibility involved in being the executor of an estate. The one sibling/beneficiary who is appointed should not be reqired to work for the other beneficiary for free. In some cases the executor may not charge the statutory fee, however, they should not be expected to work for free. The executor fee should be paid from the estate. If one of two sibling is inheriting real estate then they should make a cash contribution equal to one-half of the executor's fee.
If a life insurance policy names a son as executor and primary beneficiary are the proceeds paid to him as an individual or as executor to the estate?
If this is a hypothetical question - that is the insured is alive - then you should get it CLARIFIED and properly name the beneficiary in the mannner the insured wants his estate handled. If not, please send a copy of the beneficiary page so we can see exactly what was written. The proceeds most likely would be paid to son as beneficiary.
In NJ can an Friend Attorney or his wife be the writer attorney executor and be the beneficiary of a greater than equal amount of the estate?
That is a terrible idea. Having the same attorney write the will, act as executor and be named beneficiary would leave the will wide open for challenge. You should have an objective third party draft the will and follow their advice about naming the executor.
How long should it take to be notified if you are a beneficiary in a will?
Shouldn't be more than a few weeks, particularly if you have been in contact with the executor.
