Unresponsive Estate executors

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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quantAndHold
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Re: Unresponsive Estate executors. Small update.

Post by quantAndHold »

tadamsmar wrote: Thu Dec 02, 2021 3:34 pm
hotscot wrote: Thu Dec 02, 2021 1:36 pm Small update:

We've decided, mainly because of 'sunk cost/effort', that we'll give the executors until the end of February to take some sort of positive action.
if there's none at all we'll petition to have them removed/replaced.

In the meantime we shall endeavor to have all siblings get back in touch with each other in the hopes of generating a smidgen of goodwill, especially at this time of the year.

(Another possible approach is to have a more responsible sibling added as an executor.)
In the NC situation that I posted in an earlier reply there was a potential issue with removing the executor. There is only one other biological child alive at this point and he is an alcoholic. If the judge removed the current executor then they might install that guy. I am not sure what it takes to influence the judge concerning the matter of an executor. if the judge installs a lawyer as executor it might cost a good bit more, not sure how that works.

I think the best thing to do is to learn your rights and just treat is all like any other business transaction. No family member needs to be a patsy for any other family member. There are laws, rules, and regulations that require fairness. It's not about money, it's about the law and fairness. "It's not personal Sonny, it's strictly business". I have taken this approach in matter involving inheritance and it worked out fine.
When dad died, we needed to reopen mom’s probate, because the title on the 15 year old car was still in mom’s name. Mom had died a decade before. Basically, the court has a priority list of who could be executor, starting with the people who were named as executors in the will, then continuing to the heirs and other family members. People higher on the priority list had to sign a form saying that they didn’t want the job. In our case it got entertaining because there was a guy named as executor who had been dead for 30 years, and it took some effort to prove he was, in fact, dead.

So yeah, it’s entirely likely that alcoholic guy could have been named executor.
makingmistakes
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Re: Unresponsive Estate executors

Post by makingmistakes »

twh wrote: Mon Nov 29, 2021 11:40 am
hotscot wrote: Mon Nov 29, 2021 9:23 am 'Have you ever considered how much your time and mental well-being are worth'

I have plenty time to kill and my mental health is excellent. Thank you for your concern.
This is more of a puzzle/mystery that I'm trying to have solved.
There have been many suggestions which I shall research.

And for those who suggest otherwise 13K x 7 is not an insignificant figure to 'disappear'..
Our net worth is not relevant to my questions. We didn't become Bogleheads by disregarding our finances.
Even our share could take us on a nice vacation somewhere exotic. Always thought if we visit Hong Kong/Singapore traveling First Class would be nice.

Thanks all.
Don't pay attention to the negative comments. If someone is an executor, then they agreed to that ahead of time and they should do their job. If they can't do their job for whatever reason, they should arrange for someone else to do it. Perhaps they have been busy with life or are paralyzed by the real or perceived bureaucracy. Regardless, they need to get it done. And, they may be a lot of things in the estate that you really have no idea about since it isn't transparent. Also, your pushing may benefit some other, less fortunate, family members and that's fine too.
Not sure why you would characterize comments suggesting to let it go as negative. I can certainly see some good rationale to be done with it, especially if it became a source of stress and hassle.
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hotscot
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Re: Unresponsive Estate executors

Post by hotscot »

[/quote]
I can certainly see some good rationale to be done with it, especially if it became a source of stress and hassle.
[/quote]

It's not stressful in the slightest.
And not anymore hassle than doing a jigsaw.
I've appreciated the useful suggestions.
It's just the 'let it go' comments have been counterproductive to my stated goal of wrapping up the estate.
If it results in getting our legal share then that's a nice vacation to Japan/Europe.
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tadamsmar
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Re: Unresponsive Estate executors

Post by tadamsmar »

Here are the Powers and Duties of a Personal Representative in ND:

https://www.legis.nd.gov/cencode/t30-1c18.pdf

"A personal representative is under a duty to settle and distribute
the estate of the decedent in accordance with the terms of any probated and effective
will and this title, and as expeditiously and efficiently as is consistent with the best
interests of the estate."

Here is a documents on Informal Probate in ND

https://www.ndcourts.gov/Media/Default/ ... Estate.pdf

https://www.ndcourts.gov/legal-self-hel ... al-probate
Jack FFR1846
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Re: Unresponsive Estate executors

Post by Jack FFR1846 »

Possibly, the executor is a Pro Crastinator (professional procrastinator) and hates doing the executor required work. It's possible that as he makes a list of things to do for the day, things for the estate are pushed to last and never done. I am completely familiar with this as DW is executor on her aunt's estate and I see every day, simple tasks pushed off. It's not that she's irresponsible, she simply hates the tasks and honestly, she probably should have refused the executor appointment. From what I see, I'd ask:

Has the executor opened an estate account? In my state, that requires an official death certificate, an EIN from the IRS and an official letter appointing the executor as executor. Then these documents go to the bank/credit union to open the estate account. Technically, any bills and any income go/come to this account. This also makes accounting easier. But if the executor is a true professional procrastinator, likely nothing has been done.

For $13k, personally, I wouldn't even bother and I don't have $4M.
Bogle: Smart Beta is stupid
Topic Author
hotscot
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Re: Unresponsive Estate executors

Post by hotscot »

Jack FFR1846 wrote: Fri Dec 03, 2021 9:27 am
For $13k, personally, I wouldn't even bother and I don't have $4M.
People keep telling me what they would or wouldn't do as though 13K is insignificant. Not relevant to my post though.
Thank You
Topic Author
hotscot
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Re: Unresponsive Estate executors

Post by hotscot »

tadamsmar wrote: Fri Dec 03, 2021 7:50 am Here are the Powers and Duties of a Personal Representative in ND:

https://www.legis.nd.gov/cencode/t30-1c18.pdf

"A personal representative is under a duty to settle and distribute
the estate of the decedent in accordance with the terms of any probated and effective
will and this title, and as expeditiously and efficiently as is consistent with the best
interests of the estate."

Here is a documents on Informal Probate in ND

https://www.ndcourts.gov/Media/Default/ ... Estate.pdf

https://www.ndcourts.gov/legal-self-hel ... al-probate

Thanks for this concise information.
neverpanic
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Re: Unresponsive Estate executors

Post by neverpanic »

hotscot wrote: Fri Dec 03, 2021 5:19 pm
Jack FFR1846 wrote: Fri Dec 03, 2021 9:27 am
For $13k, personally, I wouldn't even bother and I don't have $4M.
People keep telling me what they would or wouldn't do as though 13K is insignificant. Not relevant to my post though.
Thank You
It may not be relevant to your situation, but the posted question is an exercise from which others can learn.

Based upon your replies, even if you knew this pursuit was taking healthy months off your life, you would continue, because the payoff for you is getting to the bottom of some perceived problem, to right some undefined injustice. That is your goal. It's perfectly acceptable for you to make that choice for your life. We all find happiness on different avenues.

Others who might be in similar situations can potentially benefit from the counsel of those who who've suggested a different pathway. Only you can put a value on your time and only you can assess what a chase like this can to - or for - your mental health. While I might be overtaxed from even thinking about it, you may very well add healthy years to your life by achieving the end you are seeking.
I am not a financial professional or guru. I'm a schmuck who got lucky 10 times. Such is the life of the trader.
Topic Author
hotscot
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Re: Unresponsive Estate executors

Post by hotscot »

I don't agree with you.
However I respect your feedback.
Thank you.
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