I'm the Beneficiary

[Mfh25]

I am the sole beneficiary of the estate of my deceased godmother in PA. She named her attorney as the executor. What are my rights in terms of her property? He is trying to allow me to let him sell her property and says he thinks her estate is insolvent. I do not trust him and would like to handle the sale of the house and the car, is this my right? How can I get proof of what she really owes and has so I know the attorney is acting honestly?

 

[advisor10]

3-5-2002

DEAR MFH25:

If the estate is insolvent, as the attorney alleges, he should be able to show you the estimated value of her properties and other assets (bank accounts, life insurance, etc.) and also an estimated total of her debts (copies of the bills), and if the debts are more than what the assets are worth, then that is a good indication that the estate is insolvent. If he is not willing to let you see the documentation of the financial information of the estate, then that means you should be cautious or wary.

However, if the estate is insolvent, then the only way that there would be enough money left over for you to benefit as a beneficiary would be to sell off everything, so it might be a good idea to go ahead and give him permission to sell if he is willing to be upfront and honest with you about the estate affairs.

SINCERELY,

advisor