Burnham & Associates | Stephanie K. Burnham
As executor you are responsible for the prudent administration of the estate which may include liquidation of assets. If the remainder of the family is unable to "buy out" this beneficiary with other estate assets, a mortgage or cash you may not have much choice. Please speak with an Estate Attorney to protect yourself from breach of fiduciary duty claims.
Answer Applies to: New Hampshire
Asset Protection and Elder Law Center | Shadi Alai-Shaffer
Depends on the terms of the Will. You need to seek legal advice and hire an attorney to advise you properly. You may not have the right to keep the home and your sibling may have the right to request a sale so that he or she can get their portion of the estate/Will.
Answer Applies to: California
Apple Law Firm PLLC | David Goldman
Until you are appointed as the PR by a court, you have no rights by being named in a document. Please call us and we can discuss the rights and risks you would face if you accept the position as a PR in a Florida probate case.
Answer Applies to: Florida
Ashman Law Office | Glen Edward Ashman
Your rights as executor depend on the language of the will. Surely you did not attempt this with no lawyer? (If you did, get one now). As Executor you have a fiduiciary duty to the heirs. If you violate it you can be sued. The wording of the will determines what you must do and your lawyer will be best equipped to respond to your sibling after he reviews the will.
Answer Applies to: Georgia
Law Offices of John J. Ferry, Jr. | John J. Ferry, Jr.
The executor normally can decide the best way to manage the assets as long as all debts are paid and all bequests are made. If your sibling is to receive, for example, one-third of the estate, you can pay that one-third from other estate assets if there's enough assets. But if the property you want to keep is necessary to fund your sibling's bequest, you must give him his share. You could possibly issue a deed for a one-third share if it is real estate, but there's nothing stopping him from selling that one-third interest to anyone he wants. (Or asking the court to partition the property and force a sale.)
Answer Applies to: Pennsylvania