Whether your will should be in a safe deposit box at a bank or elsewhere, such as with your attorney, depends on what your state law says about who has access to your safe deposit box when you die. The recent trend in many states is to make it relatively easy for family members or the executor to remove the will and certain other documents (such as life insurance policies and burial instructions) from a deceased person's safe deposit box. In those states, it might be a good idea to leave your will in the safe deposit box. However, in some states, it may require a court order to remove the will, which can take time and money.
Massachusetts Petition For Order to Open Safe Deposit Box of Decedent
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US-01444BG
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How to fill out Petition For Order To Open Safe Deposit Box Of Decedent?
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FAQ
Even without a statutory guideline on executor fees in Massachusetts, the common understanding among legal professionals suggests that an executor can expect to receive about 2-5% of the estate's value. However, this percentage can vary based on the specifics of the estate and the executor's duties.
Seeking Legal Recourse If you believe that the executor is not living up to their duties, you have two legal options: petition the court or file a civil lawsuit.
An individual must first be appointed as fiduciary to the deceased person's estate to access and collect the items in the safety deposit box. This is either the executor of the will or an individual appointed by the state if there isn't an executor of the will.
Every estate is different and can take a different length of time to administer depending on its complexity. There is a general expectation that an executor or administrator should try to complete the estate administration within a year of the death, and this is referred to as the executor's year.
The objection is in the form of an affidavit which must be signed under the pains and penalties of perjury and filed within 30 days of the appearance deadline in the citation. The affidavit of objections is the single most important document in a will contest.
(3) Qualified person. ? A person possessing a letter of authority or a person named as a deputy, lessee or cotenant of the safe-deposit box to which the decedent had access.
Is there a deadline to probate an estate? The general rule is that an estate has to be probated within 3 years of when the decedent died. However, this deadline doesn't apply to: A voluntary administration.
Depending on the size and complexity of the estate, this process can take anywhere from several weeks to a few months. The executor is typically given three months from the date of their appointment to submit this inventory to the court in Massachusetts.