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Executor of Will threatening Extortion in Texas
Posted on 2/19/15 at 11:00 am
Posted on 2/19/15 at 11:00 am
My Sister-in-law was notified that she was named beneficiary in the will of a recently deceased person in Harris County. The executor started complaining about how much it was going to cost her in time and money to file all the paperwork, etc. She then proposed to do the work for 30% ownership in the house and property.
Sounds unethical and illegal. I suggested she just resign or not accept the executorship. Anyone familiar with probate law?
Sounds unethical and illegal. I suggested she just resign or not accept the executorship. Anyone familiar with probate law?
4
Posted on 2/19/15 at 11:05 am to ynlvr
LINK
quote:
In Texas, the answer is both simple and complicated, as most things usually are. In Texas, there is no requirement that an executor or trustee has to be paid a commission or be compensated for their work, but if you are not going to pay them, you have to say so in the instrument that appoints them (i.e., the Will or the trust agreement). If you do not make any reference to compensation, the Texas Probate Code (for executors) or Texas Property Code (for trustees) provides for compensation.
Section 241 of the Texas Probate Code provides that Executors are entitled to a commission of five per cent (5%) on all sums that actually receive in cash, and five per cent (5%) on all sums they pay out in cash. This seems simple enough, but on further examination of Section 241, you will find that “sums received” does not include cash received that was on deposit in a financial institution, life insurance proceeds, certificates of deposit and similar items. In addition, “sums paid out” does not include distributions to beneficiaries of the estate.
Posted on 2/19/15 at 11:15 am to ynlvr
quote:
30% ownership
I don't care what kind of house/estate it is, 30% is absolutely outrageous. I can definitely see the executor's point, especially if they didn't know about this ahead of time, but if she doesn't want to mess with it, then either resign and let the courts appoint another excecutor, or let the attorney handle everything and pay through the nose before the estate is settled.
Are there hundreds of beneficiaries or something?
Posted on 2/19/15 at 11:20 am to LSUGUMBO
Simple estate. My SIL and this executor are the only listed beneficiaries. The executor is given the car. My SIL is given the house and property. Both are free and clear.
The deceased is upside down cash-wise about $15,000. Property is worth about $250k.
The deceased is upside down cash-wise about $15,000. Property is worth about $250k.
Posted on 2/19/15 at 11:21 am to ynlvr
Yeah if say gfy to the executor.
Posted on 2/19/15 at 11:25 am to eng08
That's what I thought. Just wondering what I was missing. Hell I offered to do it for $0 just to help out.
Worse yet. SIL husband undergoing chemo today for serious shite. She's up to her eyeballs in money problems and can use a gift from above. Then this counttess comes in with this indecent proposal.
Worse yet. SIL husband undergoing chemo today for serious shite. She's up to her eyeballs in money problems and can use a gift from above. Then this counttess comes in with this indecent proposal.
Posted on 2/19/15 at 11:27 am to ynlvr
quote:
My SIL and this executor are the only listed beneficiaries. The executor is given the car. My SIL is given the house and property. Both are free and clear.
quote:
Executor of Will threatening Extortion in Texas
Their parents knew exactly what they were doing.
Sounds like they stuck the a-hole child with all the work and the short end of the stick.
This post was edited on 2/19/15 at 11:28 am
Posted on 2/19/15 at 11:32 am to ynlvr
The executor can ask the court for reasonable compensation if she thinks she needs more. Your SIL should definitely not agree to anything.
TEX PB. CODE ANN. § 241
If the...compensation...is unreasonably low, the court may allow [the executor] reasonable compensation for his services, including unusual effort to collect funds or life insurance. For this purpose, the county court shall have jurisdiction to receive, consider, and act on applications from independent executors.
TEX PB. CODE ANN. § 241
If the...compensation...is unreasonably low, the court may allow [the executor] reasonable compensation for his services, including unusual effort to collect funds or life insurance. For this purpose, the county court shall have jurisdiction to receive, consider, and act on applications from independent executors.
Posted on 2/19/15 at 11:33 am to Clyde Tipton
It would appear so ??
Though no one is related in this circumstance. But, yes the one with less to gain gets all the work.
My SIL is VERY timid and was ready to give up half just to appease executwit. Deceased gave the job to the one with balls.
Though no one is related in this circumstance. But, yes the one with less to gain gets all the work.
My SIL is VERY timid and was ready to give up half just to appease executwit. Deceased gave the job to the one with balls.
Posted on 2/19/15 at 11:38 am to studentsect
quote:
Your SIL should definitely not agree to anything.
Posted on 2/19/15 at 11:38 am to ynlvr
Sounds like executor knew that your SIL would probably agree since she needs the cash and is not one to put up a fight. It also doesn't sound like there's going to be too much work- liquidate an asset to pay the deceased debts, then pay out the rest. I would try to agree on a firm price- $5-10k as opposed to a percentage of the estate.
Posted on 2/19/15 at 11:47 am to LSUGUMBO
quote:
Sounds like executor knew that your SIL would probably agree since she needs the cash and is not one to put up a fight. It also doesn't sound like there's going to be too much work- liquidate an asset to pay the deceased debts, then pay out the rest. I would try to agree on a firm price- $5-10k as opposed to a percentage of the estate.
Certainly nothing more than 5% of the estate, since that's what is included in the statute in a best case for an executor, and your SIL should only agree to at most her share of the 5% (so 5% of the property and house she is receiving, not calculating 5% of the total estate and then deducting that amount from the house).
Posted on 2/19/15 at 11:52 am to ynlvr
What is the relationship between the executrix, the decedent, and the sister in law?
It's reasonable for an executor to be compensated for the work involved. 30 percent is insane, especially since she is already a beneficiary and already getting something out of it.
Is the house outside down? Or the auto? And how much cash is in here?
Does the will provide for a backup executor?
It's reasonable for an executor to be compensated for the work involved. 30 percent is insane, especially since she is already a beneficiary and already getting something out of it.
Is the house outside down? Or the auto? And how much cash is in here?
Does the will provide for a backup executor?
Posted on 2/19/15 at 12:16 pm to LSUFanHouston
They all worked together several years ago.
Yes, we agree on reasonable. I am getting less reasonable now that I find out how much she is trying to get and essentially how she is trying to brow beat my SIL.
House and Car are clear. $25,000 life insurance. Total debt of about $40,000 including $7,700 funeral service.
Haven't received a copy of the will yet. All above information was derived from SIL and information volunteered to me by executor over phone conversation this morning.
Yes, we agree on reasonable. I am getting less reasonable now that I find out how much she is trying to get and essentially how she is trying to brow beat my SIL.
House and Car are clear. $25,000 life insurance. Total debt of about $40,000 including $7,700 funeral service.
Haven't received a copy of the will yet. All above information was derived from SIL and information volunteered to me by executor over phone conversation this morning.
Posted on 2/19/15 at 12:20 pm to studentsect
These things really bring out the worst in people.
Posted on 2/19/15 at 2:36 pm to ynlvr
quote:
These things really bring out the worst in people.
This. My wife and a relative have been haggling over a will for over three years because of relative trying to steal.
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