undefinedWhat is the name of your state?
PA
I am one of nine brothers & sisters (includes executors) who will share equally in my father's estate. My brother and sister were appointed co-executors.
My father owned a vacation property in Florida that was one of his estate assets. It was appraised in June 2004 as part of the estate procedures. A couple months later Florida was hit by a series of hurricanes. We found out after the incident that my brother & sister inadvertantly allowed the property insurance to lapse. Unfortunately the hurricane damage was not covered.
Myself and a couple of other siblings requested that the property NOT be sold for a substantial loss, but the executors proceeded to liquidate the property for about one half the 6/04 appraised value.
I feel that my brother and sister should forego some of their fees as retribution for their error, but it doesn't appear they are willing to do that. I get the impression that they want the remaining seven to simply forgive their error with no compensation.
The estate will settle within 30 days, and I want to know if I have any legal claim to the negative difference created by their failure to keep the homeowners insurance policy current.
1. Should I contest the will?
2. Could they be forced to compensate for their negligence?
Please help!
aikman59
PA
I am one of nine brothers & sisters (includes executors) who will share equally in my father's estate. My brother and sister were appointed co-executors.
My father owned a vacation property in Florida that was one of his estate assets. It was appraised in June 2004 as part of the estate procedures. A couple months later Florida was hit by a series of hurricanes. We found out after the incident that my brother & sister inadvertantly allowed the property insurance to lapse. Unfortunately the hurricane damage was not covered.
Myself and a couple of other siblings requested that the property NOT be sold for a substantial loss, but the executors proceeded to liquidate the property for about one half the 6/04 appraised value.
I feel that my brother and sister should forego some of their fees as retribution for their error, but it doesn't appear they are willing to do that. I get the impression that they want the remaining seven to simply forgive their error with no compensation.
The estate will settle within 30 days, and I want to know if I have any legal claim to the negative difference created by their failure to keep the homeowners insurance policy current.
1. Should I contest the will?
2. Could they be forced to compensate for their negligence?
Please help!
aikman59