In most situations, beneficiaries can't override a legally-appointed executor just because they don't like the decisions they are making. However, if a beneficiary believes that the executor is not following the terms of the will, they have the legal right to ask the court to appoint a new executor.
In the absence of a surviving spouse, the person who is next of kin inherits the estate. The line of inheritance begins with direct offspring, starting with their children, then their grandchildren, followed by any great-grandchildren, and so on.
The executor cannot change the last will and testament. It is the executor's express duty to act in the best interest of the beneficiaries and estate, and to carry out the probate process, including distributing inheritance assets to intended beneficiaries and heirs.
Generally, estates cannot realistically close before six months after the decedent's death because the surviving spouse has the right to make her claim for an elective share within that six months.
The term next of kin is in common use but a next of kin has no legal powers, rights or responsibilities. In particular, they cannot give consent for providing or withholding any treatment or care.
Next of kin can, however, mean more than just a point of contact after death; the term can also be used to describe who can legally inherit from an estate when someone dies without making a will and who can apply for probate.
A living spouse usually would be the first person in line as next of kin. He or she will then be followed by any children. On the other hand, you can choose any adult to give your power of attorney to as long as you're designating them legally (complying with all the legal requirements).
A next of kin doesn't have any legal power and won't be able to make decisions about the person's care or treatment if they lack capacity unless they've been appointed as that person's attorney. This is the same with a family member or a significant other.
If the agent is acting improperly, family members can file a petition in court challenging the agent. If the court finds the agent is not acting in the principal's best interest, the court can revoke the power of attorney and appoint a guardian.
Once a Grant of Probate has been awarded, the executor or administrator will be able to take this document to any banks where the person who has died held an account. They will then be given permission to withdraw any money from the accounts and distribute it as per instructions in the Will.
Keeping proper accounts
An executor must account to the residuary beneficiaries named in the Will (and sometimes to others) for all the assets of the estate, including all receipts and disbursements occurring over the course of administration.
For inheritance purposes, “next of kin” are often referred to as “heirs at law.” Next of kin under Alabama law include: Surviving spouse. Children and descendants. Parents.
Under Tennessee law of descent and distribution the term “next of kin” means the persons most nearly related to the decedent by blood. A decedent's spouse and next of kin make up the group of people entitled to inherit from a decedent's estate when a decedent dies without a will.
A next of kin is only legally responsible to cover or source funeral costs if they are named as the executor of the will, or if they enter into a signed contract with a funeral director to make funeral arrangements. There are several ways to source funds or pay for a funeral.
Executors will often be the deceased's next of kin. If a person's affairs are in any way complicated it makes good sense to appoint a mix of family, trusted friends and professionals such as a solicitor. Potential executors will be reassured to hear that they can be a beneficiary under the will.
When siblings are legally determined to be the surviving kin highest in the order of succession, they will inherit the assets in their deceased sibling's Estate. And they inherit it equally. If there is one surviving sibling, the entire Estate will go to them.
For a Will to be valid in Alabama, the testator must be 18 years or older and competent to create a Will. The Will must be in writing, signed by the testator, and signed by two witnesses.
Partition Actions: When an agreement about how to divide inherited property between siblings cannot be reached, the siblings may have to involve the court in order to force the sale of the property and terminate their co-ownership; a partition lawsuit is sometimes the only viable option for resolving conflicts when ...
According to the heir property laws in Alabama, if an Alabama resident dies leaving no surviving spouse or children, then his parents inherit his entire estate. If both parents survive, they divide the estate equally; however, if only one survives, she inherits the entire estate.
The minimum time for formal and informal probate is six months by law. However, it can take much longer for an estate to be ready for distribution, depending on the size, complexity and any issues that may arise. It's possible that probate could be open for a year or even several years.
Settling the Estate
The settlement may not be filed until at least six months from the date the personal representative was appointed. KRS §395.190. If settling the estate takes more than two years, a periodic settlement may be required.
If the beneficiaries of an estate (or one of them) feel that an executor is failing to fulfil one of their duties, legal steps can be taken to compel an executor to do so or be removed from their role.
Most bank accounts that are held in the names of two people carry with them what's called the "right of survivorship." This means that after one co-owner dies, the surviving owner automatically becomes the sole owner of all the funds.
Taking money out of a deceased's bank account
Keep in mind that most banks won't allow you to withdraw money from an open account of someone who has died (unless you are the other person named on a joint account) before you have been granted probate (or have a letter of administration).