ParanoidOne
Junior Member
What is the name of your state? TX
I recently had a parent pass away, and there is a wrongful death suit in progress and settlement seems likely. My stepparent, who has a private attorney, wants all of the "heirs" of the estate to sign papers making said stepparent the executor of estate. This would not be a problem for me except for personal knowledge I have about this person's financial capabilities. Both my parent and the stepparent were notoriously terrible money handlers, who borrowed money from relatives (including from me) and then squandered it away.
I secured them a loan as an 18 year old (naive idiot) for the purchase of a home. The banker, not knowing their history, suggested to get a lower interest rate on a loan that I secure it with a CD that I had. The house was in their name, and the loan in mine. After they didn't make payment on the loan several times (and I even bailed them out once by paying the back payments myself), my CD was forfeited (about $20,000). A couple of years after the house was theirs free-and-clear and my CD was gone, they refinanced the house and ended up completely losing it. My questions are: How much power does the executor have over the estate AND should I be concerned about appointing my stepparent as executor? Sorry so lengthy, but I wanted to get the point across. Thanks!
I recently had a parent pass away, and there is a wrongful death suit in progress and settlement seems likely. My stepparent, who has a private attorney, wants all of the "heirs" of the estate to sign papers making said stepparent the executor of estate. This would not be a problem for me except for personal knowledge I have about this person's financial capabilities. Both my parent and the stepparent were notoriously terrible money handlers, who borrowed money from relatives (including from me) and then squandered it away.
I secured them a loan as an 18 year old (naive idiot) for the purchase of a home. The banker, not knowing their history, suggested to get a lower interest rate on a loan that I secure it with a CD that I had. The house was in their name, and the loan in mine. After they didn't make payment on the loan several times (and I even bailed them out once by paying the back payments myself), my CD was forfeited (about $20,000). A couple of years after the house was theirs free-and-clear and my CD was gone, they refinanced the house and ended up completely losing it. My questions are: How much power does the executor have over the estate AND should I be concerned about appointing my stepparent as executor? Sorry so lengthy, but I wanted to get the point across. Thanks!