What is the name of your state?
NY
Here is my question...hope someone can shed some light here.
The will of a particular individual's estate reads that each of (5) heirs is to receive things equally amongst the (5) and that if there are any disputes, the executors are to resolve these disputes, (there are (2) designated executors). These (2) executors are also (2) of the (5) heirs.
With regard to personal effects...it is at a point now that an itemized listing and (3rd party) appraised value of these items has been distributed to each of the (5) heirs.
Each of the (5) were instructed to use a rating system scale of 1 to 5...with regard to each item that was of interest to him/her.
If a "1" is indicated, then that heir is indicating that this item is of high priority to that individual with regard to obtaining. Likewise, a "5" is of low priority.
There is no mention in this correspondence which was sent out to each of the (5), with regard to how things will be resolved equitably...if and when more than one of the heirs has indicated a "1" for the item. In other words, the executors have spelled out no plan upfront....with regard to what type of equitable system is in place when "ties" occur.
My question is the following....does an heir that is one of these (5) beneficiaries have any rights to demand that an equitable system be described...prior to submitting his/her items of interest.
Consent to Probate has already been signed and submitted by each of the (5).
I would think that "putting names in a hat" for any ties....would be a reasonable thing to establish as a baseline....however the executors seem to not want to be held accountable. They are offering no information on how things will be conducted.
Can they be held accountable....especially if they are being paid to be the executors...or do their broad powers allow them to call the shots irregardless of how they exectute things.
Thank you,
-(1) of (5)
NY
Here is my question...hope someone can shed some light here.
The will of a particular individual's estate reads that each of (5) heirs is to receive things equally amongst the (5) and that if there are any disputes, the executors are to resolve these disputes, (there are (2) designated executors). These (2) executors are also (2) of the (5) heirs.
With regard to personal effects...it is at a point now that an itemized listing and (3rd party) appraised value of these items has been distributed to each of the (5) heirs.
Each of the (5) were instructed to use a rating system scale of 1 to 5...with regard to each item that was of interest to him/her.
If a "1" is indicated, then that heir is indicating that this item is of high priority to that individual with regard to obtaining. Likewise, a "5" is of low priority.
There is no mention in this correspondence which was sent out to each of the (5), with regard to how things will be resolved equitably...if and when more than one of the heirs has indicated a "1" for the item. In other words, the executors have spelled out no plan upfront....with regard to what type of equitable system is in place when "ties" occur.
My question is the following....does an heir that is one of these (5) beneficiaries have any rights to demand that an equitable system be described...prior to submitting his/her items of interest.
Consent to Probate has already been signed and submitted by each of the (5).
I would think that "putting names in a hat" for any ties....would be a reasonable thing to establish as a baseline....however the executors seem to not want to be held accountable. They are offering no information on how things will be conducted.
Can they be held accountable....especially if they are being paid to be the executors...or do their broad powers allow them to call the shots irregardless of how they exectute things.
Thank you,
-(1) of (5)