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Can The Executor Of A Will Take Everything

Can An Executor of a Will Take Everything?

Can an executor amend a will? No, they can’t. An executor’s role is to administer the estate based on the will’s terms. Beneficiaries named in the will remain fixed. They cannot be removed or altered by the executor, even if disagreements arise. It’s crucial for executors to uphold the testator’s original intentions without deviation.

Now, the question always remains:

Dealing with a decedent’s estate, including personal property and money, is never easy, especially if you are not familiar with the legal system to ensure that executors fulfill their fiduciary responsibilities.

Here at Hess-Verdon & Associates, we are a California Trust and Estate firm. Our objective is to assist you in pursuing your legal rights. Call 888-318-4430 today to speak with an attorney.

by | Oct 24, 2023

Can an administrator of an estate take everything

While administrators have authority over an estate’s assets, they can’t simply take everything. In California, estate property sales have constraints. A probate referee is designated to evaluate the estate’s assets, including personal items, securities, and real estate, ensuring fair and transparent management.

Can an Executor of a Will be a Beneficiary?

An executor can also be a beneficiary in wills. Often chosen from trusted circles, this dual role demands fairness and oversight. While practical, it’s essential to ensure no biases arise. With integrity, this arrangement can ensure the deceased’s wishes are both executed and received harmoniously.

What is an Executor?

An Estate executor handles the probate process for family members. A testator typically selects the Executor and names the person in their Will. It is an essential duty, and transparency is of the utmost importance.

What Powers Do Executors of Wills Have?

The Executor of an estate has full rights to manage and control the estate and use ordinary care and diligence. The Executor’s responsibilities include administering the estate, staying loyal, and dealing impartially. Their fiduciary duty is to avoid conflicts of interest, preserve and protect the estate assets, and keep the Will productive, ensuring all debts, creditors, and taxes are paid before paying any heirs and beneficiaries.

If you are a beneficiary, you have rights. As an Executor, you are living up to the testator’s wishes.

What Can I Do if an Executor Steals Money?

If you are a beneficiary and documented evidence shows that certain assets of the estate are missing, you can petition the probate court and ask the judge to do the following:

  1. Petition to remove the Executor.
  2. Impose a surcharge.
  3. Require an accounting.
  4. Require a bond.
  5. File a discovery and turnover petition.

What can I do if an executor steals money?

Suppose you are a beneficiary and documented via pictures, documents, etc., that there have been certain assets of the estate missing. In that case, you can petition the probate court and ask the judge to do the following:

  1. Petition to remove the Executor:
  2. Impose a surcharge
  3. Require an accounting
  4. Require a bond
  5. File a discovery and turnover petition

Probate Process: Does it protect the beneficiary?

There is some truth to the horror stories you hear about the Executor of a Will cheating people out of their inheritance. However, the legal system does contain checks and balances to guarantee that executors are held responsible. If you feel the Executor

Executor of Will?

The “executor of will” shoulders the responsibility of honoring a decedent’s last wishes. Duties span from safeguarding assets to settling debts and distributing inheritances. At Hess Verdon, we support executors, emphasizing the importance of preserving legacies and aiding beneficiaries with clarity and respect for the decedent’s intentions.

 

What if the Will is invalid or there is no Will?

If the deceased’s Will is invalid or didn’t leave a Will at all, then both scenarios can take on different paths. First, if the Will is invalid, then why? Did the Will get superseded by a Trust? Was the undue influence which caused the testator to make changes unbeknownst to them? To remedy this, the probate court will have to decide. Now, if there is no will, then the person dies intestate. If so, the courts will approve an executor, and their powers will remain per probate code.

Can an executor decide who will get what?

An executor has the power to interpret a Will and distribute an estates asset according to the deceased’s wishes as stipulated in the Will, but they cannot decide who will get what or when; that’s already made clear in the Will.

Here’s a look at what an executor can and can’t do.

What an executor can do:

An executor’s job is anything but fantastic. When someone dies, they bear a considerable load. They have to manage the deceased’s estate funds. They have to prepare the funeral, cancel credit cards, collect documents, and recruit attorneys and financial experts to assist them in administering the asset in a way that’s in the beneficiaries’ best interest.

Here is a very brief summary of their primary responsibilities:

  • Applying for probate to access the property, money, and other assets
  • Manage all estate assets and protect from stealing
  • Interpreting a Will and distributing assets as stated
  • Mediating conflicts between beneficiaries
  • Investing the estate assets

 

Can the Executor of a Will access bank accounts?

Yes, in their capacity as the people who handle deceased’s estates and execute their Wills, executors can move funds from a deceased’s bank account to an estate account and take from it to pay estate debts, taxes, etc., but not as their own. After all, the assets don’t belong to them but the estates they handle.

What if I’m the Sole Beneficiary and Executor?

Even if the Executor is also a named beneficiary, they cannot withdraw cash directly from the estate account. The Executor has to wait just like other beneficiaries until the estate business is closed and funds are distributed upon court approval of a petition.

 

Can an estate executor sell its properties?

Yes, executors can sell an estate’s property but with some limitations. First of all, it depends upon the state. In some states, executors can sell estate properties with or without approval from the court or beneficiaries but should always notify the latter. The second thing is they are only allowed to sell the properties after everything has been appraised and must not bring in less than a certain percentage of the appraised value (90% in California).

However, cases involving real estate properties may require approval from the court and beneficiaries. Always check your state laws and consult with your estate attorney.

What an executor can’t do:

Now you’ve seen the extent of the executors’ powers, but while it’s their duty to interpret a Will, they can’t do the following:

  • Pass their responsibilities to others unless the Will allows it
  • Profit from their duties as Executor (they can get a fee, though, but as stated in the Will)
  • Prioritize their interests over the estate’s rights
  • Invest estate assets recklessly.
  • Purchase assets from an estate without beneficiaries’ permission
  • Modifying life insurance policies
  • Modify a Will without applying for a variation of trust

Can the Executor of a Will take everything?

After reading the above information, it is clear the Executor cannot take everything!

Just because they are the Executor by default, an executor of an estate cannot simply grab everything. They must administer assets according to the terms of the Will, not altering them; means they cannot disregard the terms of the Will and seize everything from themselves.

According to the Will, suppose the Executor is also the sole beneficiary. In that case, all estate assets are distributed to the Executor once all obligations and taxes have been paid.

 

Who can be an executor?

It depends on your local state laws; for example, anyone over 18 can be appointed Executor in California. However, in most cases, executors come from the family of the deceased close friends. There is also the chance that it may be a disinterested third party if the deceased wanted to reduce friction.

What happens in the case of a confusing Will?

One of the critical things to keep in mind about an executor’s duties is that they have a fiduciary responsibility to the estate. In other words, they must act by the terms of the Will, not their self-interest.

The only tricky situation is when the wishes of the deceased, as stipulated in the Will, are not clear, and the trustee has the power to interpret these grey areas. If you are not satisfied with the Executor’s interpretations, you can always seek legal advice. You can take the matter to court for further interpretation.

What if an estate executor fails to distribute the inheritance?

Can an Executor of a will deny a beneficiary their money? The Executor is granted extensive authority to protect and maintain assets. Some executors may take this to believe their powers are unrestricted and refuse to distribute recipients’ inheritance.

However, based on the facts in this article, that is unlawful, and you could force them to distribute. You could hire an Estate Litigation attorney to file a Petition to compel them to appear in court. The Executor must convince the judge that their acts were justified. If they cannot do so, the judge may order that the distributions be made.

 

Can the estate executor be removed?

Yes, under certain circumstances, it’s possible to have an estate’s Executor removed.

For example, in California, State Probate Code 8502 stipulates that an executor can be removed if:

  • They have squandered, mismanaged, stolen, or defrauded the estate or plan to do so.
  • They do not meet the appointment criteria or proof of incapacitation.
  • Neglecting duties or wrongfully ignoring the estate for an extended period.
  • To protect the estate or persons interested.
  • A state statute also allows removal for another reason.
  • They can’t provide a full accounting of estate assets: fail to comply with requests for Notice of probate court application, Review of the Will, and Documented account of the estate.

What to ask yourself when considering legal action against an Executor of a Will

If you have sought legal advice, reviewed the estate documents, and still can’t resolve the issue with the Executor, there are some legislative options you can pursue. However, before you take legal action, here are some questions to ask yourself:

  • Have I tried everything possible to recover what’s mine without involving the law?
  • Do I have records of my communications with the Executor?
  • Can I prove that the Executor is not fulfilling their responsibilities to the estate?
  • Would my inheritance be able to offset the costs of hiring a lawyer to get the Executor booted?
  • Do other beneficiaries share the same feelings, and can they join me in my lawsuit?

If an executor’s abilities are in question, the court will examine the matter to determine whether they should replace them and who would be the best Executor. Interested parties can participate in the hearing, including beneficiaries, heirs, spouses, creditors, and potential executors. When the judge agrees there are grounds for removal, the Executor can be removed.

Hopefully, this is useful in helping you know what to do if you have concerns about an executor of your inheritance. If you want help holding an executor accountable, contact us. Let our probate litigation attorney walk you through this complicated process. We also help clients with estate planning, Wills and Trusts, and power of attorney. Indeed, feel free to call or visit our office for a consultation.

Trust &Amp; Probate Litigation AttorneyCall Us At 949-706-7300

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Are you looking for a probate attorney in the Newport Beach area? When it comes to the practice of trust and estates, it can be difficult finding an attorney that’s experienced in Can An Executor Of A Will Take Everything. What To Knowhandling your specific issues.

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