Ask a QuestionHere are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community or ask a new question.
How do I become executor of my deceased parents estate?
Each state has specific laws on executors' responsibilities, along with timetables for them to perform their duties.
Usually they specify that in the will.
You have my condolences on your losses.
Your question is complex because we don't know the background.
Did your parents have a will and name someone else as the executor and you want to have it assigned to you?
Did your parents not have a will, therefore no executor and you need to find out how you can take the role?
Or is there some other situation?
With any of the scenarios, if you need help with an estate you need legal counsel. Most states it is much to complex to manage on your own, even if the parents had little or no money.
If you can't afford your own lawyer, you can seek help through legal aide services. Don't just pick one of them from a phone book (or from online listing). There are a lot of disreputable services out there.
Talk to your state representative or senator. You can find can find who that person is from Google by putting in your city name and the term state senator into the search box. Then make an appointment and go to their office to talk to them about your situation. Services from your state senator are free (paid for by tax dollars). The state senator can give you the information you need to find a reputable legal aide services and help you cut through red tape. Legal aide may be free or on a sliding scale.
See if your parents left a legal will. If not, if they left notes on their person or in their house of who gets what. Some states allow holographic wills. I'm not sure where you live.
i did a whole bullet point with my answer that this website deleted so i'll just try again
- if you're out of state from his state of residence you must make sure that your state allows for an out of state executor we recently had to do all this and the deceased' s state (Ohio) required an Ohio resident
- if there are other descendants or others entitled to the estate they must all be in agreement
- if it's all pretty straightforward (as if) you don't really need a lawyer you just go to the Probate Court and apply
- if you or someone does not step up the court will appoint an Executor. This is generally bad in the occasion that a house with value still has a mortgage and the bank the mortgage is owned by is appointed or applies to be executor and gets it, and then basically makes it so that the terms are most favourable to the bank
My aunt had a law firm set up her estate and living will. She left a trusted friend with power of attorney and as executor to her estate.
Immediately consult with an attorney who specializes in wills, estates, POA and elder care issues. Consider your options with guidance from your attorney.
My dad just passed. I am executor of a simple will dividing everything (only money) between 5 siblings. $75,000 will be disbursed equally from his annuity by that company. The remaining $25,000 is in a cash bank account. I have signing power on those accounts. Can I just put that money in my account and write a check to my siblings?
I'd check with the attorney who is settling the will.