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How much power does an executor have over the administration of a will? |
Someone dies - they leave their entire estate to be split between their distant relatives, and most of the estate is based on the sale/value of a house. The house won't sell. Some of the beneficiaries want to drop the price of the house to secure a sale, some of the other beneficiaries and the executor (who is also a beneficiary) want to rent it out and put the proceeds in a high interest account. Who has the right to make the decision? The situation could drag on for years without the beneficiaries actually seeing any of the money. Those beneficiaries who want to sell can petition the court to force a sale. The executor's job is to settle the estate in a timely manner. Yes, sometimes that means taking less than you think it's worth. Any heir who does not want to sell is perfectly welcome to buy the house from the estate for current fair market value and rent it out. Well the benificaries are the ones named in the will the exececutives administrator is there to make sure that the will is done exactly the way it was planned out.. if you want to disagree with that then it would be a long court battle, which would mean you'd take alot of money that more than likely you don't have to fight it.. best of luck |
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