Executor Citation Beneficiary Withdraw
Description
How to fill out Release And Exoneration Of Executor On Distribution To Beneficiary Of Will And Waiver Of Citation Of Final Settlement?
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FAQ
This means that the funds contained in the accounts will be transferred to the court-appointed executor or administrator for deposit into an account in the name of the decedent's estate, and they may be able to be used by the executor or administrator to satisfy the decedent's debts and pay probate costs.
If your goal is to remove someone as a beneficiary, then you have two options. First, you can redistribute the inheritance among your other beneficiaries. Second, you can name a new beneficiary to take over that portion of your estate. Ultimately, this choice is up to you.
If a beneficiary requests access to financial institution statements and the executor refuses to provide them, the beneficiary can take legal action. They can follow the court for an order compelling the executor to reveal the requested information.
Even if the Executor is also a named beneficiary, they cannot withdraw cash directly from the estate account. The Executor has to wait just like other beneficiaries until the estate business is closed and funds are distributed upon court approval of a petition.
An executor cannot change beneficiaries' inheritances or withhold their inheritances unless the will has expressly granted them the authority to do so. The executor also cannot stray from the terms of the will or their fiduciary duty.