Beneficiary rights

[DRTHOM]

Missouri. My wife's cousin recently passed away and she told us that we were beneficiaries of her will before she died. The executor is not a family member, I do not know who the lawyer is, the trustee is a bank. how much is in the trust or the estate is unknown but she died after a 6 month illness being on a ventilator that entire time. What are my rights as a beneficiary? specifically;

How long does she have to file a will in my state?

At what point must we be notified of being beneficiaries?

Do we have any input concerning who files the tax forms, sells the property etc....

When is designated property distributed (ie jane gets this and joe gets that)

Does the will get "read"? how is this supposed to take place?

I have no intention of pestering the executor, but I also will not be shy about asserting my rights to make sure there are no shenagins with an estate running into the millions of dollars. Do you advise I have counsel? if not, who is going to watch out for fraud? I don't want to find out about it after the cow is out the barn door!
Thank you in advance for your advice.

 

[buckspc]

Getting a lawyer

With an eatate worth millions you had better run not walk and get some help. Why are you fooling around here when you should have retained a lawyer long ago. This is not chicken feed we are talking here. Why are you worring about pestering the ex., who cares, this is big bucks here?
Good luck, Buckspc

 

[advisor10]

FEB 7, 2001


DEAR DRTHOM:

At the very least, you need to ask the executor for a copy of the will.

The executor will be the person who makes the decision about tax forms filed, property sold, etc. Is that person an attorney or not? Sometimes it helps if the person is experienced in probate matters before, but it is not absolutely necessary, as it is also a learning process.

It will take a few months for the estate affairs to be handled (debts and taxes paid, etc.) but when the estate is near closing the assets will be tallied and divided and the beneficiaries notified by mail (possibly even certified mail) about their inheritance. Make sure the executor knows your mailing address and phone number.

A "reading of the will" is an optional practice that is sometimes done and sometimes not done, depending on the personal preference of the executor or according to the decedent's instructions. It is somewhat of a formality that is not really needed if the beneficiaries are provided a copy of the will so they can review it on their own time.

SINCERELY,

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