How will the state punish me if I fail/take too long to fulfill obligations as executor of my grandmother’s estate?

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How will the state punish me if I fail/take too long to fulfill obligations as executor of my grandmother’s estate?

My dad and uncle are also beneficiaries. She died 15 years ago, then my dad got into trouble and needed a place to live. They moved in with my permission and remain. When I qualified as executor the treasurer warned me I would be punished harshly if I did not do right. She said there would be a big fine but couldn’t say how much before learning estate’s value (approx 100k). I signed a blank form that she was to fill in later. My uncle went to ask about it. He saw a document that said I was fined 22k. Does this make sense? Would the fine be that high?

Asked on March 20, 2014 under Estate Planning, Virginia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The punishment for not closing your grandmother's estate in a timely manner if you do not keep the court informed of in writing of the process is your removal as the estate's representative of the estate. Based upon what you have written, you should consult with a Wills and estate attorney in your locality. One can be found on attorneypages.com.


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