Complete Labor Law Poster for $24.95
from www.LaborLawCenter.com, includes
State, Federal, & OSHA posting requirements

Announcement

Collapse
No announcement yet.

Insolvent estate New York

Collapse
This topic is closed.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Betty3
    replied
    The law requires that the will be submitted to the court. If she doesn't want to
    be executor, she just needs to turn the will in to the court & tell them she doesn't
    want to be executor. She can wash her hands of being executor but just give the
    will to the court. The court will appoint someone else as executor.

    If it is found out that a will was hid & not turned in, it is "possible" for that person
    to be sued or prosecuted.

    Leave a comment:


  • sol65
    replied
    I understand what "notanymore" is asking. He and his wife want to simply walk away from the situation and let the chips fall as they may. They are certain that liabilities of the estate exceed assets and therefore there will be no payout to heirs. So they see no point in expending time, effort and expense in legal proceedings that cannot benefit them or other heirs (if any). What happens if they simply do nothing at all?

    Leave a comment:


  • notanymore
    replied
    Originally posted by Betty3 View Post
    If the will needs to be submitted for probate, someone has to do it. If she
    doesn't want to be executor, she needs to inform the court so they can
    appoint someone else.
    Is there a legal requirement to submit the will? What happens if she doesn't submit?

    Leave a comment:


  • Betty3
    replied
    If the will needs to be submitted for probate, someone has to do it. If she
    doesn't want to be executor, she needs to inform the court so they can
    appoint someone else.

    Leave a comment:


  • notanymore
    started a topic Insolvent estate New York

    Insolvent estate New York

    My father-in-law recently died in New York. He had a very large lien to the IRS and very few assets. He had a will and my wife is named as the executor. I don't see any benefit to us for her to take on this responsibility. I know we can file for probate and decline being the executor but can we just do nothing?
    Last edited by notanymore; 09-16-2010, 04:02 PM.
The LaborLawTalk.com forum is intended for informational use only and should not be relied upon and is not a substitute for legal advice. The information contained on LaborLawTalk.com are opinions and suggestions of members and is not a representation of the opinions of LaborLawTalk.com. LaborLawTalk.com does not warrant or vouch for the accuracy, completeness or usefulness of any postings or the qualifications of any person responding. Please consult a legal expert or seek the services of an attorney in your area for more accuracy on your specific situation.
Working...
X