If an asset comes into an estate, does the estate get the whole asset or is the executor entitled to it?
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If an asset comes into an estate, does the estate get the whole asset or is the executor entitled to it?
We are a family of 5 siblings and 1 sibling became the executor. A lawsuit came up and the sibling who is in charge of the estate thinks he gets to keep every penny and not distribute the money evenly. Is this
true?
Asked on November 6, 2017 under Estate Planning, Pennsylvania
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
The estate gets the asset and then it is distributed to the heirs and beneficiaries (either as per the will, if there is one, or according to "interstate succession (the rules for who gets what when there is no will)). Being executor does NOT entitle you to the proceeds of a lawsuit involving the deceased or the estate. If the executor keeps money to which he is not entitled, the heirs/beneficiaries could bring a law suit against the executor to force him to distribute the money.
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