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What are the rights of a beneficiary?

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b5454

Junior Member
What is the name of your state (only U.S. law)? Ohio

Do I have a right to know what POD accounts there are and to who there were POD'ed to?

Will I be informed and requested to approve(sign) the inventory list?

How will I know if the will is being contested by one of the interested parties. I was told that another attorney was brought in to clarify wording in the will concerning her inheritance but was told that I was not allowed to know anything about the situation and that a judge will determine the outcome.

Do the executor(s) have to iinform the beneficiaries on decisions such as purchasing price of a piece of property. I am part beneficiary of this property.

I made a special request concerning an inheritance for my minor children that would avoid the monies to be locked up in probate**************I requested a surety bond. Can they honor that and do they have to honor that?
 


seniorjudge

Senior Member
Q: Do I have a right to know what POD accounts there are and to who there were POD'ed to?

A: These are not part of the estate. You will just have to ask whoever you think has the info.


Q: Will I be informed and requested to approve(sign) the inventory list?

A: Doubtful.


Q: How will I know if the will is being contested by one of the interested parties. I was told that another attorney was brought in to clarify wording in the will concerning her inheritance but was told that I was not allowed to know anything about the situation and that a judge will determine the outcome.

A: Go to the courthouse where the estate is being probated and buy a complete copy of the file. Ask if you can be placed on the list of people who get notified of stuff happening in the case.


Q: Do the executor(s) have to iinform the beneficiaries on decisions such as purchasing price of a piece of property. I am part beneficiary of this property.

A: No.


Q: I made a special request concerning an inheritance for my minor children that would avoid the monies to be locked up in probate**************I requested a surety bond. Can they honor that and do they have to honor that?

A: It depends on what the will says and also the state law on inheritances by minors.
 

b5454

Junior Member
Thank you for your responses. It seems to me that the executor(s) have a tremendous amount of power and can slant the intent of the will.

The executors are not bonded and were not required to be so as per the will. Can they still be held accountable for decisions made in bad judgement? I was told that a beneficiary can file a lawsuit against them after the will has been dispursed should unethical activity taken place. Is this true and is it true in the case with no bond?

TIA~
 

seniorjudge

Senior Member
Thank you for your responses. It seems to me that the executor(s) have a tremendous amount of power and can slant the intent of the will.

The executors are not bonded and were not required to be so as per the will. Can they still be held accountable for decisions made in bad judgement? I was told that a beneficiary can file a lawsuit against them after the will has been dispursed should unethical activity taken place. Is this true and is it true in the case with no bond?

TIA~
Yes and yes.

But the time to stop the horse from running out of the barn is before it leaves.
 

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