Can an executor of an estate with a “life estate” take the monies made from the sell and not give the remainders their share?

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Can an executor of an estate with a “life estate” take the monies made from the sell and not give the remainders their share?

The executor also has the right to sell the homeplace. The executor’s deed states that she is to divide the monies from the sale between all beneficiaries equally. She is a beneficiary just like the adult children. No more, no less. What rights do we have as “additional buyers” and “heirs” on the homeplace? The homeplace is under contract and we would like to know what our rights are.

Asked on September 4, 2012 under Estate Planning, Georgia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Under the laws of all states in this country, the executor of a probated estate is required to take estate assets that are then liquidated and then make a distribution of such moneys to those heirs who under the Will are entitled to such. From what you have written, if the home is sold, its proceeds need to be distributed to those who are entitled to the funds as stated under the Will.


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