What is the name of your state? Georgia
My Mother and I are co-executors as well as heirs of my Fathers estate. I have 3 siblings whom are also heirs. My Father left his "Vacation home" (5th wheel travel trailer and plot of land in the mountains in an RV park) 1/2 to my Mother with the remaining 1/2 going to my 3 siblings and I. Associated expenses such as park fees, property taxes, insurance, and electrical power totals come to an average of $1,200.00 per year. All other debts owed by the estate have been paid in full and a sum of money remains in the estate account.
2 of my siblings tend to be iresponsible and can't be counted on to pay their" fair share" (total divided by 5) of these expenses.
My first question is: Is it proper/legal for my Mother and I to keep a balance in the estate account to pay these fees as they present themselves or must/should we disburse the funds in the estate account equally to the heirs? Right or wrong up to this point, and due to the dificulties in having my 2 siblings pay their shares, my Mothers and my reasoning has been that "a bird in the hand is worth 2 in the bush" so to speak and we planned on simply paing these fees from the estate account as they present themselves.
If we disburse the estate funds, we will run a spreadsheet regarding whomever is/was delinquent in paying their equal share(s). If we were ever to decide to sell the vacation home and per my Fathers will, 50% would go to my Mother and the remaining 50% to my 3 siblings and I.
My second question is:
If we do indeed sell the property and my sibling(s) are delinquent in paying these expenses, is it proper/legal to withhold from their share the ammounts delinquent?
Thank you for your time and I'll look forward to your responses.
My Mother and I are co-executors as well as heirs of my Fathers estate. I have 3 siblings whom are also heirs. My Father left his "Vacation home" (5th wheel travel trailer and plot of land in the mountains in an RV park) 1/2 to my Mother with the remaining 1/2 going to my 3 siblings and I. Associated expenses such as park fees, property taxes, insurance, and electrical power totals come to an average of $1,200.00 per year. All other debts owed by the estate have been paid in full and a sum of money remains in the estate account.
2 of my siblings tend to be iresponsible and can't be counted on to pay their" fair share" (total divided by 5) of these expenses.
My first question is: Is it proper/legal for my Mother and I to keep a balance in the estate account to pay these fees as they present themselves or must/should we disburse the funds in the estate account equally to the heirs? Right or wrong up to this point, and due to the dificulties in having my 2 siblings pay their shares, my Mothers and my reasoning has been that "a bird in the hand is worth 2 in the bush" so to speak and we planned on simply paing these fees from the estate account as they present themselves.
If we disburse the estate funds, we will run a spreadsheet regarding whomever is/was delinquent in paying their equal share(s). If we were ever to decide to sell the vacation home and per my Fathers will, 50% would go to my Mother and the remaining 50% to my 3 siblings and I.
My second question is:
If we do indeed sell the property and my sibling(s) are delinquent in paying these expenses, is it proper/legal to withhold from their share the ammounts delinquent?
Thank you for your time and I'll look forward to your responses.