Ask Experts Questions for FREE Help !
Ask
    kenkemri's Avatar
    kenkemri Posts: 2, Reputation: 1
    New Member
     
    #1

    Jul 5, 2011, 12:45 PM
    What can be done about if a estate executor is missusing the funds?
    My father passed away and left my older sister as executor of the will. My mother is still alive and living in assited living. She has short term memory loss and mild to moderate dementia.The will splits the family assets equally between myself, my brother, and my sister. In the event my mother can not run her estate my sister per the will,is to manage the affairs. However, she is running up huge credit card bills approx(7000 per month) and is quickly chewing through my parents estate. What legal remedies do we have? The state is Arkansas.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #2

    Jul 5, 2011, 01:14 PM

    I'm confused - your father's will left everything to you, your brother and sister and did not provide for your mother?

    Go to the Probate Court, ask for financial reports and proof of the expenditures and file a grievance.

    Or hire an Attorney to represent your interests.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
     
    #3

    Jul 5, 2011, 01:58 PM
    Quote Originally Posted by JudyKayTee View Post
    I'm confused - your father's will left everything to you, your brother and sister and did not provide for your mother? ...
    Me too. OP also says that in "the event my mother can not run her estate my sister per the will,is to manage the affairs." It doesn't seem like that's a will. Maybe it's some sort of a trust, but that doesn't exactly make sense either.

    Kenkemri, do you have a copy of the document, and have you read it?
    kenkemri's Avatar
    kenkemri Posts: 2, Reputation: 1
    New Member
     
    #4

    Jul 5, 2011, 05:15 PM
    I have read the will it does leave everything to my mother, then us after she passes. Its not our interest that is the most important here it is my mothers. In the will it provides that if the either my mom or dad can not manage their affairs then the executor would be responsible. However, my sister is giving away assets such as cars to her children. Letting them live in my mother and fathers home. Letting them charge to my parents credit card accounts. etc. This is not what my parents intended when they created this will
    And Maybe a combination living trust.I might add my sister holds a law degree but has never had her own
    Practice.So my brother and I feel powerless to stop her from exausting my mothers assets.What steps should we take. We just want her to be financially responsible with my mothers money and assets.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #5

    Jul 5, 2011, 08:32 PM

    Unless it put the money in a trust, his will can not leave you or anyone anything after mom dies, Mom's will will have to do that, if everything was left to her.

    If the money was put in specific trust, then it could.

    So that is some concern of the ability of his will to do what he put down.

    Next you and other brothers and sisters, go to probate court and demand sister provide proof of her use of the funds.

    They all have to be used for the mother at this point and time

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Executor of my fathers estate won't answer email questions regarding the estate Help [ 4 Answers ]

The executor of the estate will not return my email questions regarding the estate. Can I contact an attorney? I have sent 5 emails requesting information regarding the timeshare I am suppose to get. I told her if it was appraised too high I did not want. That was 4 months ago. Now she just ignores...

Should the Bank not release the funds of the deceased to anyone only to the executor [ 5 Answers ]

Hi, I was named executor of my aunt's will. She died dec 19, 2007. She is an American citizen living in St Kitts. She left in thhe will all her assets to me, but still when I reach Dec 20,2009. The Bank did not release her funds at the Bank which I found awkward, I had the will in my hand and...

Should the Bank not release the funds of the deceased to anyone only to the executor [ 2 Answers ]

Hi, I was named executor of my aunt's will. She died dec 19, 2007. She is an American citizen living in St Kitts. She left in thhe will all her assets to me, but still when I reach Dec 20,2009. The Bank did not release her funds at the Bank which I found awkward, I had the will in my hand and...

Executor of an estate [ 4 Answers ]

My wife is executor of an estate left to her by her father. My (wife) is looking a piece of property to buy she was told by the trustee that it had to be looked at and approved by him before the funds would be released. As executor doesn't she have the control to sign a purchase agreement which...

Problems with Executor of Estate not signing sales contract for real estate [ 4 Answers ]

My sister and I are the beneficiaries of our mothers will. She died when I was 17 and left my sister and I half of her estate, and named her doctor as the executor. I am now 22 and my sister is 20 (21 next month). We all agreed (verbally) to sell the family house to our father for $125k. He...


View more questions Search