• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

If Named Executor How do you.........

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

C

Capone

Guest
New York.

If you are named as a Executor of a will, and all property such as real estate, personal or mixed is left to another person, how is the debts and funeral expenses of the deceased paid?
Does the executor have the right to the deceased personal papers?
If the deceased has a life insurance policy, Is it the responsibility of the beneficiary to pay the deceased funeral expenses?
Does the will have to be turned over to probate and if so, who's responsibility is it do so?
 


ALawyer

Senior Member
The executor is responsible for filing for probate. BUT if the executor is unwilling to serve, he can ask the beneficiary named to take on the responsibility, and usually the court will approve.

The debts get paid BEFORE the rest of the proerty is paid out. Adn the life insurance beneficiary is NOT obligated to use the proceeds for funeral expenses. Of course if that was the understanding with the insured, he should.
 
C

Capone

Guest
When you said that the debts get paid before the rest of the property is paid out, what monies are used to pay these debts?

Does this mean that even though you are willed all the personal, mixed, and real property of the estate, in order to pay off the debts of the deceased you have to sell these items to raze the monies for this?
 
A

advisor10

Guest
12-3-2001

DEAR CAPONE:

What is the value of the real estate and personal property? Would there be enough money left after the sale of some or all of those items to be able to pay the funeral bill and some of the other outstanding debts?

If not, then the estate is technically bankrupt and the estate will not be able to make payments on the outstanding bills, and that is what you will have to inform any creditors who are asking for payment. Or, if you think there will be money later on, then that is what you should tell them so they will know what the situation is (but don't give them exact details). If the real estate and personal property was willed to you, then you are free to do whatever you want to with them--you are technically not responsible as a beneficiary for paying someone else's estate bills, but it would be the honest and ethical thing to do to at least try to pay some of the outstanding bills, primarily the funeral expense.

Yes, you do have a right to the deceased's personal papers--do you have access to their home or would you be requesting these papers from someone else in their family?

Yes, there is a responsibility for WHOEVER HAS POSSESSION OF THE WILL to submit it to the probate court, along with the necessary filing fees. If the person who has it doesn't want to do it, then they should give it to you (the executor) for filing.

SINCERELY,

[email protected]
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top