Who is the executor and trustee of my fathers estate?

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Who is the executor and trustee of my fathers estate?

My brother has been appointed trustee/executor of my fathers trust/estate. My father had a large estate of cars, antique guns, planes, property etc. It appears that my brother just plans on taking whatever he wants and not discussing with me or my other brother.

Can a brother be the executor of a will?

No, your brother has a duty to ensure that the deceased’s wishes are carried out. An intelligent person is never afraid or ashamed to find errors in his understanding of things.

Can you force your brother’s family out of the property?

You would all receive some extra (taxable) income without having to uproot your brother and his family. However you must take independent legal advice when setting up such an arrangement to review the land law and tax consequences. Can you force your brother’s family out of the property?

What should I do about my brother’s estate?

Under the law, your brother has various duties and obligations regarding the trust and the estate. However, if nobody is watching his actions, then he will likely do what he wants and it could be very difficult to undo much of that. An attorney can take steps, including primarily filing proper petitions in court, to help…

Who is the executor of my parents estate?

My brother is executor of our parents’ estates. Both parents are now deceased. The trust provides that all assets in the trust are to be divided equally. Can he sell property and put the value of the property in the estate pool without my signature or approval?

Can a brother be both executor and trustee of an estate?

Yes. It sounds like your brother is both executor and trustee. As such, he has responsibility for the property in your parents’ estate and trust. Unless the wills or trust impose some restrictions, your brother must decide how to distribute the assets, which he can do either as they are or as cash.

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.

How can parents help siblings with estate planning?

Strategies parents can implement include expressing their wishes in a will, setting up a trust, using a non-sibling as executor or trustee, and giving gifts during their lifetime. After a parent dies, siblings can use a mediator, split the proceeds after liquidating assets, and defer to an independent fiduciary. Estate-Planning Steps for Parents

What can an attorney do for my brother?

An attorney can take steps, including primarily filing proper petitions in court, to help protect your rights. This process may put your brother’s actions into focus under the oversight of a judge with power to force your brother to act as required by law.

Can a judge force my brother to act?

This process may put your brother’s actions into focus under the oversight of a judge with power to force your brother to act as required by law. You are going to need your own probate attorney ASAP, Retain an attorney before you talk with your brother further.

Is it reasonable for brother to be executor of estate?

However, no one wanted it. You don’t want to be in the same boat (or condo, in this case). Your brother has managed your mother’s estate for two years and — given the time and stress involved in managing a person’s estate — particularly when family is involved, $20,000 is probably not unreasonable. It’s a thankless job, except for the remuneration.

Why is my brother’s estate still not settled?

My brother, the estate executor, hired a lawyer to navigate the process. The estate is still not completely settled 18 months later because of two factors: The time share — a last-minute revelation by the attorney — was not included in the trust and needs to go through probate court. Each of us sent a release of any interest in the time share.

Who is the executor of my mother’s estate?

The estate included her home. It was paid in full, but a mortgage was opened a few months before she died to pay for home health care expenses, farm property, a time share and personal belongings There are four children and one was designated the estate executor. The bulk of the estate has been settled to everyone’s relief.

Can you hire a lawyer to probate an estate?

The lawyer who probates the will is hired by the executor. This person is not the lawyer for the estate or beneficiaries. You can’t obtain independent legal advice unless you hire your own lawyer. What if the estate is at a standstill? Is the executor explaining why? There may be legitimate issues.

However, no one wanted it. You don’t want to be in the same boat (or condo, in this case). Your brother has managed your mother’s estate for two years and — given the time and stress involved in managing a person’s estate — particularly when family is involved, $20,000 is probably not unreasonable. It’s a thankless job, except for the remuneration.

What was the executor fee for my parents estate?

We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee. Is that a standard practice? How do you determine the amount? I don’t dispute my brother worked very hard to settle my parents’ affairs.

Why was there no settlement on my Brother’s Estate?

The second reason the estate was not settled: $100,000 ($25,000 per child) was held back until my brother and sister and I “released” the executor (my other brother) from any future claims and/or contests against him or the estate.

My brother has been appointed trustee/executor of my fathers trust/estate. My father had a large estate of cars, antique guns, planes, property etc. It appears that my brother just plans on taking whatever he wants and not discussing with me or my other brother.

What was the executor fee for my brother?

We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee.

What to do when your brother is executor of mother’s estate?

Signing release forms at the end of this process is also pretty standard, but your brother needs to be transparent with all the transactions related to your mother’s estate. Have your own estate attorney look over the document, if you must.

The second reason the estate was not settled: $100,000 ($25,000 per child) was held back until my brother and sister and I “released” the executor (my other brother) from any future claims and/or contests against him or the estate.

Can a co-executor and co trustee open a bank account?

Banks don’t like Co-Executors and Co-Trustees: I have had situations arise where two children inheriting a large sum of money tried to open a trust bank account at a bank. The children wanted to make sure they were joint on the trust account.

Can a co-executor and co-trustee be appointed in Colorado?

Courts don’t like Co-Executors and Co-Trustees: While I have witnessed Colorado Courts appoint multiple personal representatives to act on an estate’s behalf, the Colorado law doesn’t really give guidance on how to administer a probate proceeding when two personal representatives are appointed.

When to use co personal representatives or co trustees?

A client walks in who wants to create a trust or will and who has two (or more) children. When we get to the question of who will handle the business of a client’s will or trust, the client almost invariably says “I want all of my children to serve together as Co-Personal Representatives (or Co-Trustees or Co-Executors) of my estate.”

Banks don’t like Co-Executors and Co-Trustees: I have had situations arise where two children inheriting a large sum of money tried to open a trust bank account at a bank. The children wanted to make sure they were joint on the trust account.

Courts don’t like Co-Executors and Co-Trustees: While I have witnessed Colorado Courts appoint multiple personal representatives to act on an estate’s behalf, the Colorado law doesn’t really give guidance on how to administer a probate proceeding when two personal representatives are appointed.

A client walks in who wants to create a trust or will and who has two (or more) children. When we get to the question of who will handle the business of a client’s will or trust, the client almost invariably says “I want all of my children to serve together as Co-Personal Representatives (or Co-Trustees or Co-Executors) of my estate.”

We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee. Is that a standard practice? How do you determine the amount? I don’t dispute my brother worked very hard to settle my parents’ affairs.

Under the law, your brother has various duties and obligations regarding the trust and the estate. However, if nobody is watching his actions, then he will likely do what he wants and it could be very difficult to undo much of that. An attorney can take steps, including primarily filing proper petitions in court, to help…

Can a trust be terminated by a sibling?

If other siblings completed their education, they could petition the court to terminate the trust and distribute the portion that remains because the trust’s purpose has been fulfilled. Often, real estate is transferred to siblings jointly. This can either be through a will or as “heirs’ property” if the estate is intestate.

How can I avoid an estate dispute with my sibling?

Key Takeaways. Sibling disputes over assets in a parent’s estate can be avoided by taking certain steps both before and after the parent dies. Strategies parents can implement include expressing their wishes in a will, setting up a trust, using a non-sibling as executor or trustee, and giving gifts during their lifetime.

Who is the trustee of my dad’s estate?

My dad left behind four adult children and his wife, our stepmother. He also — bless him — left behind what at the outset appears to be competently produced estate-planning documents: a will and a revocable trust. A bank is serving as the trustee, with a law firm representing the bank.

If other siblings completed their education, they could petition the court to terminate the trust and distribute the portion that remains because the trust’s purpose has been fulfilled. Often, real estate is transferred to siblings jointly. This can either be through a will or as “heirs’ property” if the estate is intestate.

Who is the successor trustee of the living trust?

Leo may be contacted at (831) 768-9110 or https://www.legalsiegel.org. A case study of a successor trustee of his father’s living trust. The trust appointed his son as the successor trustee. At the time his father died, his sister lived in the family home. The siblings are adults.

My brother, the estate executor, hired a lawyer to navigate the process. The estate is still not completely settled 18 months later because of two factors: The time share — a last-minute revelation by the attorney — was not included in the trust and needs to go through probate court. Each of us sent a release of any interest in the time share.

Who is the next of kin to an executor?

An executor has many responsibilities, and most of those relate to the next of kin of the decedent. The closest living relatives of the decedent often have the most to inherit from a decedent’s estate and as a result can be greatly affected by how the executor carries out his duties.

What can an executor do after filing for probate?

To fill out the petition for probate, you may have to do some basic analysis to determine what’s in the estate. But taking action beyond that — selling assets or making payments — is not allowed until the court has approved your petition and appointed you as the executor.

What happens if there is no will and no executor?

If the probate court determines that there is no valid will, the executor must distribute the estate property to the next of kin subject to the state’s intestacy code. The intestacy code defines who receives estate property based on which of the decedent’s relatives are still alive.

An executor has many responsibilities, and most of those relate to the next of kin of the decedent. The closest living relatives of the decedent often have the most to inherit from a decedent’s estate and as a result can be greatly affected by how the executor carries out his duties.

Who are the executors and trustees of an estate?

The executor (sometimes referred to as executrix for females) is responsible for managing the affairs of and settling the estate, including initiating court procedures and filing the deceased’s final tax returns. The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for

What can an executor do if there is no estate?

If there’s nothing left after that or the liabilities of the estate exceed the assets, the beneficiaries won’t receive an inheritance. However, an executor can’t steal from the estate, refuse to communicate with beneficiaries, or needlessly delay payments.

Who is responsible for dealing with an estate if there is no will?

For information about the rules of intestacy, see Who can inherit if there is no will – the rules of intestacy. The person dealing with the estate of the person who has died is called an executor or an administrator. An executor is someone who is named in the will as responsible for dealing with the estate.

What should I do about my step dad’s estate?

It’s vital that whomever is the executor of your father’s estate keep a detailed accounting of all assets that your father had at the time of his death, and how they have been distributed. You should also try to resurrect records of what assets your step-mom had at her death, and how they were distributed.

Can a personal representative be the executor of a will?

If you’re named the executor (also called a personal representative), you’ll have many details to manage. This estate executor checklist for executing a will can help you more easily navigate the process while making sure none of your duties slip through the cracks. 1. Obtain a Copy of the Death Certificate

Who is the executor of my late father’s will?

My brother is the executor of my late father’s will. The estate (ie. the sale of the house) is to be divided equally between his children. However, my brother is saying that as he is the executor he can do what he likes, he can sell the house to who he wants and for £1 if he wants, he has the total control and authority to do what he likes!

No, your brother has a duty to ensure that the deceased’s wishes are carried out. An intelligent person is never afraid or ashamed to find errors in his understanding of things.

If you’re named the executor (also called a personal representative), you’ll have many details to manage. This estate executor checklist for executing a will can help you more easily navigate the process while making sure none of your duties slip through the cracks. 1. Obtain a Copy of the Death Certificate

Why is My Stepmother inheriting my Father’s estate?

This is a tricky situation, given that your father would have liked you to receive something and you are at the mercy of your stepmother. It was your father’s estate when he was alive, not yours, and now it belongs to your stepmother. Children sometimes confuse their parents’ assets with their own. It’s a common mistake.

What can an executor of a will do?

All the executors can do is pass monies in accordance with the will to the trustees and beneficiaries and would be unwise to act unilaterally without agreement in view of the potential personal liability if they act otherwise than as above.

What can I do about uncooperative executors of will?

I am pretty sure they would not even consider paying for the executors, never mind their partners. The solicitor cannot act without the agreement of all four of you, and the actions so far of the other two are illegal without the consent of the other two – assuming you can get hold of the Will, or it is shown to the solicitor.

We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee.

Signing release forms at the end of this process is also pretty standard, but your brother needs to be transparent with all the transactions related to your mother’s estate. Have your own estate attorney look over the document, if you must.