when an attorney dispurses your estate

Can a lawyer be an executor of an estate without consent?

Oct 19, 2020 · It is crucial that an attorney creates these trusts because unless that the proper separations between trustee and grantor are built into the trust, the trust property may be subject to estate taxation and claims from the Grantor's creditors. Speaking to an attorney in advance of preparing the trust will provide valuable insight as to whether ...

Can a designated attorney be the executor and counsel to an estate?

Personal representatives have a fiduciary duty to the heirs and beneficiaries of a probate estate. This means, among other things, that an executor cannot embezzle estate assets for their own personal benefit. If such embezzlement occurs, the beneficiaries of the estate have the right to take legal action against the personal representative.

Can a co-executor of an estate represent the estate?

Oct 01, 2020 · The court may remove a personal representative if the judge concludes that (1) removal is in the best interests of the estate, (2) a material misrepresentation of fact occurred during the process of the personal representative’s appointment, or (3) the personal representative disregarded a court order, became incapable of performing as personal …

What should I consider when choosing an executor of a will?

Oct 24, 2021 · If you have additional questions or need help creating your estate plan, please contact us at our Santa Ana will and trust law firm or at one of our other locations in the state of California at (800) 244-8814. If you have any further questions about asset protection planning and strategies to shield your wealth, or if you’d like to have your ...

How long does it take to settle an estate?

Unfortunately, every estate is different, and that means timelines can vary. A simple estate with just a few, easy-to-find assets may be all wrapped up in six to eight months. A more complicated affair may take three years or more to fully settle.7 days ago

How long after probate granted will I get my money?

By law the executor has to hold on to estate assets for six months after the grant of Probate or Letters of Administration and cannot pay anything out to beneficiaries before this time is up. This is to ensure that an estate is not distributed before any claims have been made.

How is money distributed from an estate?

Most assets can be distributed by preparing a new deed, changing the account title, or by giving the person a deed of distribution. For example: To transfer a bank account to a beneficiary, you will need to provide the bank with a death certificate and letters of administration.

Can an executor withdraw money from an estate account?

Once a Grant of Probate has been awarded, the executor or administrator will be able to take this document to any banks where the person who has died held an account. They will then be given permission to withdraw any money from the accounts and distribute it as per instructions in the Will.

Why do you have to wait 6 months after probate?

This is needed to allow them to access the money and assets of the person who has passed on. Even for a simple estate, it is likely to take three to six months for funds to be allocated after probate has been granted.Dec 5, 2020

Do executors need to consult beneficiaries?

Executors have a duty to communicate with beneficiaries. If they are not doing so, you are entitled to take action. Schedule a free consultation with our probate lawyers to learn what you can do to enforce your rights as a beneficiary.Jul 26, 2021

How are inheritances distributed?

Distribution of Your Estate in California If you die with a surviving spouse, but no children, parents or siblings, your spouse will inherit everything. ... If you die with surviving children and no spouse, your children will inherit everything. Your parents are next in line and then your siblings.Jan 23, 2017

How is a deceased estate distributed?

This means that the beneficiaries in order of preference are: the spouse of the deceased; the descendants of the deceased; the parents of the deceased (only if the deceased died without a surviving spouse or descendants); and the siblings of the deceased (only if one or both parents are predeceased).

How do you distribute money to heirs?

How to Distribute Inherited Money to HeirsReview the estate planning document carefully to determine the identity of the heirs. ... Determine the status of the administration of the estate in probate court if you are distributing money from a will.More items...

What debts are forgiven at death?

What Types of Debt Can Be Discharged Upon Death?Secured Debt. If the deceased died with a mortgage on her home, whoever winds up with the house is responsible for the debt. ... Unsecured Debt. Any unsecured debt, such as a credit card, has to be paid only if there are enough assets in the estate. ... Student Loans. ... Taxes.

Are bank accounts frozen when someone dies?

It's illegal to take money from a bank account belonging to someone who has died. ... The power of attorney comes to an end when a person dies. Once the bank has been notified of the death, the account will be frozen.Jan 22, 2021

Can beneficiaries demand to see deceased bank statements?

Some times beneficiaries want to see more detailed documents such as a Deceased's bank statement or pension documentation. Strictly speaking a beneficiary has no entitlement as of right to such documentation and it is your discretion as Executor whether or not to disclose it. The nature of the beneficiary's interest.Jun 19, 2019

What is the role of a personal representative in an estate?

The personal representative of an estate has substantial responsibilities for administering the estate. While estate administration usually goes smoothly, especially if a lawyer assists with the process, sometimes a personal representative fails or refuses to perform those duties and administer the estate properly.

Who is an interested person?

For purposes of this section, a different section defines “interested person” broadly to include a decedent’s spouse, child, heir, beneficiary, creditor, or other person with a property right or claim against an estate, as well as a person having priority for appointment as personal representative or a fiduciary representing an interested person.

Can a court issue a temporary restraining order?

If the court determines that the personal representative may take action that unreasonably jeopardizes the interest of the petitioner or another interested person , the court has authority to issue a temporary order restraining action by the personal representative or make another order ...

What is the MCL 700.3607?

That section authorizes an “interested person” to petition the probate court for an order restraining specific conduct of the personal representative of an estate. A court may also issue this type of order on its own motion.

Can a person petition the probate court for removal of a personal representative?

In addition to requesting a court order directing the personal representative to perform the required duties or refrain from certain conduct, an interested person may petition the probate court for removal of the personal representative under MCL 700.3611. The section authorizes the court to remove a personal representative for specific reasons and establishes the procedure for requesting removal by the court.

Can a court remove a personal representative?

The section authorizes the court to remove a personal representative for specific reasons and establishes the procedure for requesting removal by the court. The grounds for removing a personal representative are serious and must be demonstrated to the court through evidence. The court may remove a personal representative if the judge concludes ...

Is a personal representative a fiduciary?

The personal representative of an estate is by definition a fiduciary position . Under MCL 700.1308 and 700.1309, the court has broad range of authority to remedy a breach of fiduciary duty by a personal representative.

Tampa, Florida estate planning and estate litigation attorneys you can trust

Whether you want to protect your assets for future generations, need assistance with guardianship or administering an estate, or have an issue with Tampa probate in court over provisions in a will or trust, there is no greater comfort than knowing your interests are protected by highly specialized estate planning lawyers based in Tampa who handle cases throughout the entire state of Florida..

When you need a Tampa Estate Planning Lawyer

We take pride in our sincere desire to understand your needs and those of your family, and to provide workable solutions. Whether those solutions involve a simple will preparation or staunch advocacy in court, you can rest assured that we will provide the highest quality legal service of any probate lawyers in Tampa .