Reply to SIL plotted to inherit estates from childless aunts

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Recency bias is real OP. Forget the last 50 years, all that matters is the last few. [/quote]

Unfortunately this ended up as a First Come, First Served situation and the relatives didn’t care that it was a spouse of a relative nor to ask around.

Bear in mind, the executioner of a will can, in reality, do whatever s/he wants with the house, money, art, vehicles, or even body. That’s the prize. That’s why an aunt would want the most truthworthy non-family member following the orders— surely an out of state schmoozing spouse of a nephew…

Sorry Op, you’ve all been had. That’s why it’s a secret. [/quote]

How can the executor do whatever they want with the house when there are other heirs? I also do not see how an executor could do whatever they want with anything that can be tracked, like money.

[/quote]

How can the executor not do whatever she wants?[/quote]
Because there are laws governing probate. The executor isn’t always an heir. An executor can charge a fee for performing their duties as executor, but they don’t inherit the estate just because they’re the executor.

The first entities who receive money from the estate are creditors who are owed by the deceased. The deceased’s bills have to be paid off. If the executor is charging a fee, that fee is one of the bills that have to be paid. Then, if the deceased had a legally binding will, the will determines where the remainder of their assets go after creditors have been paid from the estate.

If the deceased did not have a legally binding will, state law determines who inherits and what portions of the estate they get. Surviving spouse is first in line. In some states, everything goes to the surviving spouse. In other states, spouse and children each get shares. If there’s no surviving spouse, the children get equal shares. If there’s no spouse or children, the estate could go to grandchildren in equal shares or if there are none, to the deceased’s surviving parents, and if there’s are none, to surviving siblings.[/quote]
Forgot to mention that the executor needs to maintain meticulous records to account for every penny to the probate court and a judge has to give their blessing for the estate to be settled.

There are strategic ways to keep assets out of probate, but the deceased has to have made these legal and financial arrangements in advance.[/quote]

AMEN.  It’s a ton of work and you have to balance it perfectly.  I will never be an executor again.  I was for my husband, but he left everything to me.  My mom’s involved kids and grandkids.  I regret not hiring a professional and paying them from the estate.[/quote]

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