what constitues a legal debt that an executor has to collect?

[In Texas]

What is the name of your state? TX

What is a legal debt that an executor has to collect? A real debt, written or provable that it was verbal?
I can understand that.

Is a lawsuit that may or may not get the estate money considered a legal debt that an executor must go after. ?

If an executor does not wish to go after a lawsuit to collect something that is not legally the estates, can the other executor force them to by threatening to sue or remove the executor for breach of fiduciary duty.?

Thanks if anyone can shed light on this.

 

[Dandy Don]

You have not given all of the relevant details. What is the source of the debt--a wrongful death lawsuit in which a future payout is expected or is it something else?

 

[In Texas]

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What is the name of your state? Texas

My father died and my brother and sister the executors.
In the will it stated that a certain chairity would get a certain amount of money for certain reasons like my father had wanted to give a certain amount to chairity.

This was an older will and my father had had some correspondence with the chairity before he died saying that he had planned to change the will and the arrangement to the chairity because he had felt he had completed his chairitable giving and wanted the money in his IRA to go to his children.

My father died suddenly and the new will was not completed or signed.

As I understand it, the charity has no legal concern to return the money to the children, but may have a moral one because they had had correspondence with my dad to change the arrangement, but my father died before it was changed in the will.

My brother insists on sueing the charity to give the money back but, the majority of us do not want to get the estate tied up into a lawsuit. I think the charity and the lawyers he wants to sue will countersuit and that will tie up the estate and cost thousands of dollars in costs and hassles.

My brother and one sister are only doing this out of greed and have no consideration for the other four siblings.

My brother is threatening my sister who is the other executor to sue her for breach of fiduciary duty if she does not go along with the lawsuit.

My question is, Isn't an executor only legally supposed to collect legal debts for an estate? is an executor required to drag the entire estate into a lawsuit without much legal merit because my father died without a new will? the charity might be a jerk for not giving the money back like they had talked about, but there was not a new will and the old will said the money went to the chairity, not the children.

I say that my brother is not doing the estate a good thing by bringing a lawsuit and potential countersuit against the estate, costing all of the siblings thousands of dollars that were left in my fathers estate.

There are six children. Only two (my brother, an executor, and another sister who is not an executor) The other four girls, one is an executor do not want to do this.

Can my brother force the other executor to do this? he is threatening to have her removed as an executor for cause of breach of fieduciary duty. I don't think it is a legal debt that she has to persue. I think it is only his greed
Thank you

 

[BlondiePB]

duplicate post

https://forum.freeadvice.com/showthread.php?t=376179

Please keep your questions on one thread so that those that reply can read the history.

And, for the third time...an executor can file a lawsuit on behalf of the estate regardless of whether the defendant is a debtor or beneficiary.

 

[In Texas]

I realize that an executor can file a lawsuit . My question is,

Is a lawsuit that may or may not have legal value considered a debt that an executor would be required to collect?

One executor says that the lawsuit is a legal debt and that the other executor is required to go along with it or be in breach of fiduciary duty.

the other execcutor wants nothing to do with it.

My brother wants to have my sister removed as executor unless she goes after this lawsuit as a legal debt.

Again, the question is, is an executor required as a fiduciary duty to go after a lawsuit ? Is it a debt? I think it is a liability to the estate, not an asset.
thanks

 

[BlondiePB]

Again, the question is, is an executor required as a fiduciary duty to go after a lawsuit ?

No.

Is it a debt?

The monies to the charitable organization are not a debt.

I think it is a liability to the estate, not an asset.

Your idiot brother is a libility to the estate. Your sister/co-executor needs some cajones and needs to stop listening to your idiot brother.

 

[Dandy Don]

What is the value of the estate? Brother is naturally grieving and upset, but he is pursuing a foolish course that he would lose legally and waste attorney fees in a groundless lawsuit. It would be much smarter and less expensive for the estate attorney to negotiate/discuss this matter with the charity--they would probably agree to settle out of court by agreeing to donate a reasonable amount to the estate to avoid a lawsuit. Since the newer will was unsigned, the older one stands--you can't blame the charity just because father didn't sign the newer will and one wonders why the newer will wasn't signed if those were truly his wishes.

DANDY DON IN OKLAHOMA ([email protected])

 

[anteater]

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In the will it stated that a certain chairity would get a certain amount of money for certain reasons like my father had wanted to give a certain amount to chairity....

.....As I understand it, the charity has no legal concern to return the money to the children, but may have a moral one because they had had correspondence with my dad to change the arrangement, but my father died before it was changed in the will.

My brother insists on sueing the charity to give the money back but, the majority of us do not want to get the estate tied up into a lawsuit. I think the charity and the lawyers he wants to sue will countersuit and that will tie up the estate and cost thousands of dollars in costs and hassles.....

I hope that there is plenty of money in this estate. By the time the squabbling squibblings get done, it may all get carved up by the various attorneys.

Out of curiosity, what money is it that idiot brother is talking about suing for? You mention "return" and "give back" several times. One would assume from your posts that it is not money that has been distributed under the terms of the (valid older) will. Do you mean that idiot brother wants to sue the charity for money that your father donated during his lifetime?

 

[BlondiePB]

I hope that there is plenty of money in this estate. By the time the squabbling squibblings get done, it may all get carved up by the various attorneys.

Out of curiosity, what money is it that idiot brother is talking about suing for? You mention "return" and "give back" several times. One would assume from your posts that it is not money that has been distributed under the terms of the (valid older) will. Do you mean that idiot brother wants to sue the charity for money that your father donated during his lifetime?

My understanding is that idiot brother here doesn't want to follow the will by giving the beneficiary (the charity) the money willed to them. Moron brother wants to sue the charity for money that they haven't even received & wants to sue the other executor for breach of fiduciary responsibilities by abiding by the decedent's will.

Texas, please do not post the value of this estate. It is not necessary information. Your idiot brother is the one who needs to be removed as an executor. Ever hear of frivilous lawsuit? Look it up.

 

[Dandy Don]

How much money was the charity getting under the newer will as opposed to the older one? Just curious to see what has caused brother to be so upset when he has no legal ground to stand on.

Executor does not need to be worried about brother's threat to sue for breach of fiduciary duty--what he is describing does not fit the definition of breach of duty and even if he filed to sue it would be regarded as a frivolous lawsuit.