Re: Inheritance advances?
- From: nospam@xxxxxxx
- Date: Wed, 22 Mar 2006 17:00:29 GMT
On 21 Mar 2006, "Pami1968" <pami1968@xxxxxxx> wrote:
[ I'm the executrix of my mother's will admitted to
probate months ago by which she left her entire estate
consisting of her residence, an insurance policy, and
cash and marketable securities to my brother and me.
I've already paid most debts and estimate that a
partial distribution in the amount I contemplate would
not in any way impair the estate's ability to pay all if
any taxes and remaining debts. My brother, aware that
I have an immediate need for a distribution to me of
less than 5% of what I will be entitled to, approves of
such an initial distribution providing only that it is
accounted for by way of distributive adjustment at the
end which of course I would make. But my lawyer's
paralegal informed me that, despite these facts including
my brother's willingness to confirm his agreement to
such a payment from estate assets, "it just doesn't work
that way" and so I'm wondering if I should bypass her
and go directly to the attorney even though it is VERY
hard to get an appointment with him. ]
If you need the money in question, that you hesitate asking and, if
need be, politely but firmly insisting on a reasonably prompt answer
and, if also needed, action from your lawyer is arguably the only
serious issue you raise.
(That you belatedly disclose that you are represented by counsel also
makes somewhat puzzling that you ask the question you do in an
internet/Usenet newsgroup rather than having obtained both an answer
and, if needed, action from your own lawyer.)
In terms of background for underlying considerations of fact and law
if you r're interested -- not least of which includes the still not by
you provided answer to the "where?" question -- read the full
exchange in this thread between "McGyver" and me, which illustrates
the need for at least a factual resumé of the sort which you only
belatedly provided above including an answer to the "where?" question,
and in which in his 21 March posting he said in part:
[Under] California law . . . [t]he executor is not authorized
by [law] . . . to pay any any part of their inheritance in advance
of a final distribution order without court approval. * * *
That permission can be obtained very quickly if needed,
but it cannot [lawfully] be bypassed [even if the will does not
not so require]. * * * In California, a probate takes a
minimum of about three years. * * * Naturally, state law
in OP's state could reverse everything I've said.
Everything "McGyver" says above and in the rest of his said posting
about Calif. law including custom/practice in that state is correct.
This includes -- and if you have an urgent economic need you've
indicated, you ought not overlook -- that obtaining court approval of
an advance payment in circumstances of the sort to which you appear to
refer is generally comparatively quick and easy to obtain (yet, as he
says, necessary) in that state.
Though I (deliberately) did not make this explicit, the
questions/issues I raised, in turn, assumed a jurisdiction other than
Calif., e.g., N.Y., where not only is court approval for the sort of
distribution to which you refer generally not required but where there
have been surrogate's court decisions that can be fairly read to
disclaim a court's authority validly even to make such a ruling in/for
an estate being administered pursuant to a will of the sort to which
you appear to refer.
.
- References:
- Inheritance advances?
- From: pami1968
- Re: Inheritance advances?
- From: McGyver
- Re: Inheritance advances?
- From: nospam
- Re: Inheritance advances?
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- Inheritance advances?
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