Kentucky Sample Letter regarding Motion to Sell Property of an Estate
Description
How to fill out Sample Letter Regarding Motion To Sell Property Of An Estate?
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FAQ
Executors have a duty to communicate with beneficiaries. If they are not doing so, you are entitled to take action. Schedule a free consultation with our probate lawyers to learn what you can do to enforce your rights as a beneficiary.
A beneficiary who suspects that the executor is not properly handling the distribution of assets or failing to perform their duties should submit a petition to the court to remove the executor.
There are situations when a beneficiary will request that the executor or trustee provide an accounting. This may be a formal or informal accounting, depending on the request. Regardless, the fiduciary has a responsibility to provide an accounting when requested. It's preferable to provide an informal accounting.
Generally, beneficiaries have to wait a certain amount of time, say at least six months. That time is used to allow creditors to come forward and to pay them off with the estate assets. (In some cases, an executor may make partial distributions to the heirs after he or she estimates the debts.
If the executor can sell the property for more than 90 percent of its appraised value then they do not need to get the permission of the beneficiaries or of the court.
