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Executor not sure what to do!
I am the executor of my grandfathers estate. He has a poor condition mobile home that isn't worth anything. The problem is, the mobile home park still charges rent. My grandfather has an IRA that goes directly to a beneficiary and not the estate. There are no other finances to cover the rent, upkeep or demolition of the mobile home. Can I just abandon the property? Options?
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What state or country are you in?
Generally, although you may be named as executor in his will, you do not have the powers or responsibilities of executor until you have applied to the probate court and have been appointed. I suggest you counsult a probate attorney licensed in your jurisdiction to determine if there would be anything to be gained by doing so. As you have already determined, the IRA is not a part of the estate, so if there is nothing else in the estate, it does appear that to do nothing may well be your best option. |
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