Legal Question in Wills and Trusts in Illinois
Executor borrows from estate account
I have reason to believe the executor of my sister's estate is borrowing money from the estate account. He says he intends to pay the money back (and is indeed doing so), but wouldn't he need to give a final accounting of that money?
2 Answers from Attorneys
Re: Executor borrows from estate account
I would hire a lawyer to demand an accounting and seek removal of the executor. Please call for a free consultation.
Re: Executor borrows from estate account
A final accounting will need to be filed with the court if the estate is supervised. If it is an independent estate, an accounting is usually filed, and a beneficiary would have standing to compel one to be filed.
If there is no probate estate opened, it will certainly be more difficult to enforce.
Your best course of action might be to consult with an estate planning/probate attorney to review your rights and to be sure that the estate is being managed properly. It would be well worth your time and money.
Good luck to you.
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