What to do if you are not the executor of an estate?

Talk with a lawyer. A lawyer will be able to assist you with determining what your rights may be in a particular estate. Your rights are not just limited to inheritance of assets at the conclusion of the estate, but they also include requiring the posting of a bond for the executor to ensure that they administer the estate properly.

Who is the executor of an estate that is in probate?

A named executor in a Will, or someone else appointed by the probate court to manage the estate’s assets, sell the property. They are acting on behalf of the deceased person and not on behalf of their self.

Can a child be the executor of a will?

If the estate is going to the children, then the child getting the majority of the property will be named executor of a will. “If divided evenly among children, the most financially responsible is typically chosen,” said Morgan.

Can a will give the executor the power to sell?

The wishes of the decedent are in the Will. A Will may grant the estate executor the power to sell the property. The executor must do as the Will directs. For example, if a Will states to sell the real property at XYX Street, then it must get sold at fair market value. Property gets divided as instructed in the Will.

Who was the executor of my mother’s estate?

When her mother died in 2011, Susan Crim had no idea that it would take nearly two years, as executor, to close out the estate. Wrestling with paperwork, faxing documents and traveling from Virginia to consult with legal and financial experts became a way of life as she grappled with a confusing bureaucracy. “I was grieving,” says Crim, 59.

What to do when serving as an executor of an estate?

When serving as an executor, particularly for a close family member, it is easy to be somewhat casual with assets, especially personal property. Never lend or give anyone (including yourself) estate funds or let them use the estate’s debit card. Likewise, secure other tangible assets.

Can a spouse be the executor of a will?

In most cases, the executor of a will is going to be the deceased person’s spouse, especially if their estate is being left to the spouse, according to Morgan. If the estate is going to the children, then the child getting the majority of the property will be named executor of a will.

Can a non probate executor control real estate?

There usually exists “non-probate assets” over which the executor has no control. Typically, real estate is the largest “non-probate asset” that we find in an estate. Therefore, the executor does not have the right to exercise control over real estate, although it often happens.