Can an executor sell estate assets before the existing debts are paid?

UPDATED: May 4, 2011

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: May 4, 2011Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Can an executor sell estate assets before the existing debts are paid?

My dad passed in KY. My aunt, the executor, told us that everything has to be sold right away. She wants truck, mower, and tools and said she already had a buyer for house (without even putting it  on the market). My brother and I are the heirs. Have seen Will but no copies. She already took things from house. Aunt not executor until 5/5, probate files 5/9. Isn’t there an 18 month payment window, or if over $5K a 10 year.payment plan. What does filing probate mean to us the heirs?

Asked on May 4, 2011 under Estate Planning, Florida


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am so sorry for your loss.  It seems to me that your Aunt is moving things at lightning speed and that would have me a little concerned.  You said that you have seen the Will.  Do you have a copy? then I would strongly suggest that you take it to someone to review and let you know your options.  In trying to give guidance on yourgeneral question here, an executor can seel estate assets if they deem it necessary to pay any state debt, or if the Will directs that assets are to be sold and the proceeds distributed after debt is paid.  Executors have great power so if you think that your Aunt is up to something you need to object asap.  And she can not do anything until she is appointed by the court.  Sounds like she has taken liberties before that has happened.  Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption