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TN - Can I have executor's removed Tennessee

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  • TN - Can I have executor's removed Tennessee

    My grandmother passed away in Jan '08 (3.5 years ago) and her estate only held annuities in each beneficiary name, a checking account with approximately $90K in cash, and a home / land owned free and clear - there were no debts. Her estate was to be divided equally into 4 parts with each of her children receiving a fourth. My father was deceased prior so my sister and I are to equally split his 4th. My grandmother named her other 3 children as co-executors of the estate. My issue is my 2 aunts / uncle are IMO incompent as executors of the estate. It took them 2.5 years (Jul '10)to get the property on the market and they priced the property approximately 30K higher than the appraisal. 10.5 months later we have received no offers and the property is still listed 10K above the appraisal. In addition, of the 90K in cash none has been dispursed and that balance is no down to approximately 45K. My aunts/ uncles are emotionally attached to the property and do not think loggically. One aunt has stated she will not accept anything lower than $250K which is still 5K higher than the appraisal which was done approximately 3 years ago. Can I try to have them removed from the estate so that a neutral 3rd party can disperse the rest of the cash and sell the property? They are putting their own interest above those of the overall estate and should have been resolved years ago. Any help or advise would be appreciated.

  • #2
    Three co-executors is a recipe for gridlock under the best of circumstances.

    If they are not acting in the fiduciary interest of the estate, then your recourse is to petition the court that is overseeing probate to have them replaced. The court will look into the matter and make a determination.
    I am not able to respond to private messages. Thanks!

    Comment


    • #3
      Removing an executor(s) is always an adverse proceeding. Generally the executor(s)
      & the party/parties seeking removal each have their own counsel. There is a court
      hearing & a decision is made on the matter.

      The "general" rule is that a court will remove an executor only if it can be shown to
      the court that the executor(s) are incapable of performing the duties or that they
      are unsuitable for the position or they were disqualified since they were appointed.
      (disqualified for example for being convicted of a crime & sent to jail)
      Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

      Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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      • #4
        Ask them if they want to buy out your share of the property.

        Comment


        • #5
          Originally posted by GotSmart View Post
          Ask them if they want to buy out your share of the property.
          And make sure to quote them at a percentage of the unreasonable price they're currently marketing it for. I somehow have a feeling they won't go for it, but it is worth a shot. Aside from that, you can attempt to get them removed as has been mentioned.

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          • #6
            GotSmart's suggestion is a thought (if it's possible to do that) - otherwise, the only thing you can do is
            go to court.
            Last edited by Betty3; 05-17-2011, 03:42 PM.
            Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

            Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

            Comment

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