What is the name of your state (only U.S. law)? New Hampshire resident with inherited property in Florida.
Inherited property in Florida through parent's trust. Named executor of trust but all value of estate to be divided among all children (total 4). Since the executor has paid all expenses on property totaling $40,000 + additional future expenses, does executor have the right to deduct expenses upon the sale of the home from estate before dividing the remaining balance to the siblings?
One sibling is in severe debt...has not yet claimed bankruptcy. Can his creditors take any more than his portion of the inheritance? How long can his creditors pursue a claim to any inheritance the sibling receives?
Thanks in advance.
Inherited property in Florida through parent's trust. Named executor of trust but all value of estate to be divided among all children (total 4). Since the executor has paid all expenses on property totaling $40,000 + additional future expenses, does executor have the right to deduct expenses upon the sale of the home from estate before dividing the remaining balance to the siblings?
One sibling is in severe debt...has not yet claimed bankruptcy. Can his creditors take any more than his portion of the inheritance? How long can his creditors pursue a claim to any inheritance the sibling receives?
Thanks in advance.