Co executors disagree on liquidating land

Posted by / 22-Nov-2020 05:14

A person who receives property or a share of an estate under a will has certain rights as soon as the will is probated.Probate, a court proceeding that affirms the will's validity and gives the executor the legal authority to distribute the estate, is designed to protect the rights of will beneficiaries.Some transactions, such as a home sale, will take the executor longer to complete.If the executor is entitled to money for his services, the beneficiaries have the right to object to the amount he's requesting.If you fail to take action against an executor performing in a dubious or unethical manner, the estate may suffer losses and you could lose part or all or your inheritance.State laws vary, but you can usually take action against an executor if you are an interested party to the estate, such as a beneficiary under the will.

For example, if an executor gives money to one beneficiary but withholds money from another without an acceptable reason, he is being unfair.

If one of the co-executors does not agree, then the estate cannot take the action.

So, each co executor should be working together with the other co executor to administer the estate.

The executor has a fiduciary duty — a duty of trust and integrity — to the estate's beneficiaries.

While most people try to appoint trustworthy individuals as their executors, the case sometimes arises where a dishonest executor needs to be removed.

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Executors and beneficiaries of a will have a unique relationship under the law.

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