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BLoveless
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Estate in Maryland
A simple will left 1/2 of an 5 acre estate to the uncle (executor) and 1/2 to be divided among 4 grandchildren. The instructions were to sell the property and divide the assets.
The property was occupied by the executor for 10 years without payments to estate. The property was then sold to the executor for $1. The surrounding land around the house was sold to a developer (4 of the 5 acres). The house was not sold and remained in the executor's name.
The profits of the land sale will be distributed 50/50 between the grandchildren and the executor. The executor claims the estate is fairly divided now, however the house and 1 acre has not been sold. Is this fraud? or does the executor have the right to withhold portions of the estate to sell at some future date?
A simple will left 1/2 of an 5 acre estate to the uncle (executor) and 1/2 to be divided among 4 grandchildren. The instructions were to sell the property and divide the assets.
The property was occupied by the executor for 10 years without payments to estate. The property was then sold to the executor for $1. The surrounding land around the house was sold to a developer (4 of the 5 acres). The house was not sold and remained in the executor's name.
The profits of the land sale will be distributed 50/50 between the grandchildren and the executor. The executor claims the estate is fairly divided now, however the house and 1 acre has not been sold. Is this fraud? or does the executor have the right to withhold portions of the estate to sell at some future date?