Renunciation of right to qualify as executor.

[edithgrove]

What is the name of your state? Louisiana

My father's will (he died in Sept. of '06) names my sister and I as co-executors. My sister lives and takes care of my mother (she has Alzheimer's) in DeKalb County, Georgia.

What are the possible consequences of my giving up my right to be co-executor?

I live 500 miles away from my mother & sister, and my sis is attempting to convince me that she should be sole executor. She wants to re-finance my mother's condo, supposedly to free up some money for my mother, and feels that my location impedes her abiliy to do that. She is also pressuring me to get this done quickly.

 

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Giving up position as executor

Unless you are too busy, I would be concerned about loss of control. If you normally concur with the executor, I don't understand why you would want to relinquish your control of the assets. We let my mother-in-law (stepmonster) take care of some things and guess what? there were over 50,000 reasons not to take similar action. she went through assets as fast as she could. I hope you are not in a similar situation, but, I can guarantee that we wish we had been more vigilant.

 

[lwpat]

Your father's estate should have been settled long before now. Something doesn't sound right. I fail to see what this has to do with refinancing. Brings to mind the old saying where's there's smoke there's fire.

 

[edithgrove]

Your father's estate should have been settled long before now. Something doesn't sound right. I fail to see what this has to do with refinancing. Brings to mind the old saying where's there's smoke there's fire.

My father's will basically states that everything goes to my mother, who is still alive but cannot take care of herself. After that, my sister and I split everything 50/50.

My sister takes care of my mother now, and is compensated through a personal care services contract, paid from the money my father left. That money is close to gone now, and just his condo and posessions are left.

I find it strange, as well, that my sister wants sole control of his estate. She has other personal problems, so I am highly reluctant to let this happen. Just trying to get a better understanding of what is going on here.