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Estate settlement

Sent to Legal Experts August 19 2006 at 9:05 AM
   

Before I married my husband about 1 year ago, he was the excutor of his Fathers will,
he had spent his finacial portion and his siblings portions of the will. I have been trying to get him to settle the will. He doesn't have the roughly One hundred Thousand that should be in the estate account. His sisters have asked for an accounting and he still is not forth coming. When we were dating it was none of my business, now that he is over his head I can help. We may not be able to get a loan to cover the money, will we need to do something like sell the house or can we make payments towards to siblings

 

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August 19 2006 at 9:13 AM (7 minutes and 57 seconds later)
         
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He is by law as the Executor of the will required to show all the members of the family all expenses paid on the estate to cover the deceased person's debt. He is then as you know suppose to give out as outlined in the will what is due to each child.

I would not suggest selling the house unless it is the deceased persons. Then you have an option. Give the house to the siblings and be even. Have an appraisal done of the house and deduct what he has taken out once the house is sold from his share of the income.

Or sit down and be upfront and truthful with all those involved as they can and may take legal action against him.

It is in your best interest to get him to be humble and work this out.

He can pay his siblings if he would like to if your income would allow this. It does not sound as though it does.

Again, by law as Executor he is obligated by law to show an accounting. He needs to get the books in order and settle with his sisters in a way that is best for all.

All options are on the table as long as his sisters do not file a court action against him. Time is of the essence on this issue. He must take care of it asap.

If I may be of further help then please reply.



Edited by 4ren6 on August 19 2006 at 9:14 AM



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August 19 2006 at 9:20 AM (7 minutes and 10 seconds later)
         
Reply to 4ren6's Post: Dear 4ren6,
Thank you for the response, I am on good talking terms with the sisters, I have encouraged them to put pressure on my husband. We have the books with the accountant, we are supposed to get the total back any day, I believe he may be dragging his feet. We could make payments. The house is worth more than the owed balance. So I will try to see if there is some type of payment arrangement we can make. Thank you
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August 19 2006 at 9:27 AM (7 minutes later)
         
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Then if the sisters are in good spirits about this and not about to file a court action then working with them is the best. This way down the line all could share in the sale of the house if the two of you are not living in it. It may be also if the house is his/yours that he may be able to get a loan. Settle with the sisters and if any undone settlements of the deceased are not taken care of at this time he can give the sisters the Power of Attorney or the Executrix position as a good faith effort on his part.

let me know if I may further assist.




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August 19 2006 at 10:15 AM (48 minutes and 24 seconds later)
         
Reply to 4ren6's Post: Wow,
You don't know how you have just helped my life.
Thank the Good Lord for people like you and this whole system. We are living in our home and we were expecting that we would have to sell the home and live in a fifth wheel for awhile. Thank you for your knowledge.
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August 19 2006 at 10:17 AM (1 minute and 28 seconds later)
         
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Glad to hear that. That is what Just Answer is here for. You may click the accept button now if your satisfied.

Edited by 4ren6 on August 19 2006 at 10:20 AM



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