California Sample Letter Explaining the Purposes of the Waiver and Consent regarding an Estate
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How to fill out Sample Letter Explaining The Purposes Of The Waiver And Consent Regarding An Estate?
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FAQ
Executors may or may not be required to obtain consent from beneficiaries before selling estate property ? it depends on both the type of property being sold and whether the court has given the executor ?full authority? or ?limited authority? to act under California's Independent Administration of Estates Act.
Letters of Administration is the form that the Judge signs confirming that he has given that person legal authority to represent the estate.
Legally, the executor cannot change the will or refuse payment, but executors can breach their fiduciary duty, as explained below, leaving beneficiaries vulnerable to creditors.
An executor must administer the estate as outlined in the will. They are not allowed to change the distribution by adding in or removing beneficiaries. Even if they believe that assets should be distributed differently, the executor must follow the testator's directions in the will.
Waiver of probate accounting All persons entitled to a distribution from the estate have executed and filed a written waiver of account or a written acknowledgment that their interest in the estate has been satisfied. The interest of every person entitled to distribution from the estate has been satisfied in full.
Estate Executors Must Provide Beneficiaries With Proper Accounting. Under California law, executors of a will must file an accounting of all of the transactions they have conducted while administering the estate. The executor must file this accounting with the probate court.
The short answer is yes, you have to show an accounting unless the heirs or beneficiaries of the estate waive the requirement. And even if they waive it, probate best practice is to show a thorough summary of what was done so you reduce the chance of disputes later on.
Personal representatives of estates use this to tell all interested persons about actions that they plan to take. Also used by people receiving the notice to tell the court if they disagree with (object to) or agree with (consent to) the representative's proposed action.