whatsagirltodo
Junior Member
What is the name of your state?What is the name of your state? WI
Hi. I was wondering what kind of proof would an executor need to prove a loan was taken out for the estate? The situation goes like this..9 months ago my sibling(of course a heir to the estate), borrowed money to the executor(brother and heir to tyhe estate). I just found this out a month ago that sibling gave a loan to brother and was really worried they made a big mistake because they are afraid they won't see the money ever again! I asked what the heck did you give him a loan for what was he gonna use it for, sibling's reply was so he can get caught up on his bills. Ok from that it sounds to me it is a personal loan to sibling not the estate! Just last week i was informed from the estate lawyer this loan will come off the top because it is the estate's debt. I said no it's not executor used it to get caught up on his bills.Now my question is what would prove this is the estate's bill or brothers bill? Would the check that sibling wrote be proof enough? If the check is just written out to sibling and estate is not mentioned...Like Pay to the order of "The Estate of_____" or at the bottom of the check under memo "loan to estate". I would think it would have to say "Pay to the order of the Estate of_____". Also if there was a written agreement of some sort, shouldn't that of been copied right away and filed in the probate case? I am afraid that all the sudden some kind of agreement will show up out of the blue to make it look like it was written up 9 months ago. Like i said sibling is freaked they will never see the money from brother and do what they can to get it back.
One more thing, i have gotten no distributions to date it's been 22 months that this small estate, less than 170,000 has been in probate. Executor could of rented the house(it sat empty for 1 year and 3 months), than after that much time passed he moved his self and family into it. So the estate had to pay a mortgage and late fees one after the other(every month) plus 2 foreclosures that were stopped last minute. He was late right after the death of mom and 1 week after she passed the estate was already in probate. The estate had the money to make these payments on time and was well funded, but he choose not to pay there-for stacking up late charges. Now i found out a week ago that the estates house sale is not being handled by the estate's lawyer, Executor hired someone else to do this (which i think made estate lawyer mad). By the way executor is buying the house at FMV. As of right now i have a 1/3 interest in the house. Since it is a differant law office handling the house sale can i get my interest right from there or does whatever is left go back into the estate(after mortgage is paid off)? The estate lawyer wants whatever is left to go back into the estate. The thing i need to know does it have to go back into the estate? This estate is still in probate.
Also if an estate is closed does that mean all distributions have been made? Thanks
Hi. I was wondering what kind of proof would an executor need to prove a loan was taken out for the estate? The situation goes like this..9 months ago my sibling(of course a heir to the estate), borrowed money to the executor(brother and heir to tyhe estate). I just found this out a month ago that sibling gave a loan to brother and was really worried they made a big mistake because they are afraid they won't see the money ever again! I asked what the heck did you give him a loan for what was he gonna use it for, sibling's reply was so he can get caught up on his bills. Ok from that it sounds to me it is a personal loan to sibling not the estate! Just last week i was informed from the estate lawyer this loan will come off the top because it is the estate's debt. I said no it's not executor used it to get caught up on his bills.Now my question is what would prove this is the estate's bill or brothers bill? Would the check that sibling wrote be proof enough? If the check is just written out to sibling and estate is not mentioned...Like Pay to the order of "The Estate of_____" or at the bottom of the check under memo "loan to estate". I would think it would have to say "Pay to the order of the Estate of_____". Also if there was a written agreement of some sort, shouldn't that of been copied right away and filed in the probate case? I am afraid that all the sudden some kind of agreement will show up out of the blue to make it look like it was written up 9 months ago. Like i said sibling is freaked they will never see the money from brother and do what they can to get it back.
One more thing, i have gotten no distributions to date it's been 22 months that this small estate, less than 170,000 has been in probate. Executor could of rented the house(it sat empty for 1 year and 3 months), than after that much time passed he moved his self and family into it. So the estate had to pay a mortgage and late fees one after the other(every month) plus 2 foreclosures that were stopped last minute. He was late right after the death of mom and 1 week after she passed the estate was already in probate. The estate had the money to make these payments on time and was well funded, but he choose not to pay there-for stacking up late charges. Now i found out a week ago that the estates house sale is not being handled by the estate's lawyer, Executor hired someone else to do this (which i think made estate lawyer mad). By the way executor is buying the house at FMV. As of right now i have a 1/3 interest in the house. Since it is a differant law office handling the house sale can i get my interest right from there or does whatever is left go back into the estate(after mortgage is paid off)? The estate lawyer wants whatever is left to go back into the estate. The thing i need to know does it have to go back into the estate? This estate is still in probate.
Also if an estate is closed does that mean all distributions have been made? Thanks