beneficuiary wants everything now

[dmotorsports]

What is the name of your state? ny

Estate is in florida executor lives in ny, main beneficiary wants everything now.

house has unsettled debt and a outstanding home equity loan and several high interest rate credit cards.

boat is paid in full deed is in possession by beneficiary
minivan is paid in full and title is in possesion by tenant of fathers estate

as executor of estate do i have legal rights to demand oroginals of titles for boat and minivan and at my discrection can i sell items to settle debt

small life insurance policy was used to pay for cremation svcs and burial cost does executor get balance of life insurance policy

 

[moburkes]

Beneficiary needs to WAIT for the estate to be settled.

Why should executor get the life insurance policy? The BENEFICIARY gets the life insurance policy to use as s/he pleases. It is not required to be used to pay debts of the estate, unless the IRS requires it.

 

[BelizeBreeze]

What is the name of your state? ny

Estate is in florida executor lives in ny, main beneficiary wants everything now.

house has unsettled debt and a outstanding home equity loan and several high interest rate credit cards.

boat is paid in full deed is in possession by beneficiary
minivan is paid in full and title is in possesion by tenant of fathers estate

as executor of estate do i have legal rights to demand oroginals of titles for boat and minivan and at my discrection can i sell items to settle debt

small life insurance policy was used to pay for cremation svcs and burial cost does executor get balance of life insurance policy

WHO was the beneficiary of the life insurance policy?
WHO is listed as the owner on the boat title?

 

[seniorjudge]

WHO was the beneficiary of the life insurance policy?
WHO is listed as the owner on the boat title?

And, is there a will?

 

[ladybg1]

Since there is real estate involved in addition to the other items, Fla requires "Formal Probate" You Have to use an atty-might as well start now & let them answer these questions. Try to find onw in the correct county & who has some real estate knowladge. I went thru this with my dad's estate last year. It takes some time & the beneficiary just has to wait. You can't hurry the judge up.

 

[BelizeBreeze]

Since there is real estate involved in addition to the other items, Fla requires "Formal Probate" You Have to use an atty-might as well start now & let them answer these questions. Try to find onw in the correct county & who has some real estate knowladge. I went thru this with my dad's estate last year. It takes some time & the beneficiary just has to wait. You can't hurry the judge up.

I must be blind but where in the heck is Real Estate mentioned anywhere in the post?

 

[ladybg1]

they mentioned that there is a house with a home equity loan-etc. That's why I mentioned the formal probate-Fla does not give us an option of doing this without using an atty.

 

[BelizeBreeze]

they mentioned that there is a house with a home equity loan-etc. That's why I mentioned the formal probate-Fla does not give us an option of doing this without using an atty.

That is ONLY for the house and not necessary if the other items are so titled that they by-pass probate.

In this case, probate is not necessarily REQUIRED if the only probatable asset is the home and it is so indebted that the beneficiary does not wish to take title.