do you have to file an inventory of assets with probate if you are an executor of a will?
by admin ~ July 12th, 2007 . Filed under: Personal Finance .
lolly asked:
My mother recently died and my brother became executor of her estate. He had to file an inventory of all her personal things (who got what) with probate. Does anyone know if he also have to file and inventory of all her assets (monies)
Cordell Boote
My mother recently died and my brother became executor of her estate. He had to file an inventory of all her personal things (who got what) with probate. Does anyone know if he also have to file and inventory of all her assets (monies)
Cordell Boote
July 14th, 2007 at 3:18 am
yes, it should have been done with the other inventories. Did you mother by chance have some money in joint accounts with right of survivorship in his name only. If so, that money at her passing was not part of the estate, but passed to the survivor. Some people do not understand this. And it really helps determine who is fair and who is not. Many a sibling in this situation takes the money and does not include it in the inventory, because it was not part of the estate. It sounds like your mother had a will, so that it better than some people who’s estates are handled by who ever gets to court first or stands up to do the job. Property then passes by a statutory sceam. Sorry if your mother did not understand she needed to have two joint accounts, one for each of you keeping about the same amount of money in each. But I suspect this is what has happened. Talk with your brother, he might make it right with you. Good Luck