Legal Question in Wills and Trusts in Indiana
How much power an executor of a will has
I have a son and daughter and the daughter is executor of our will. The son is not very responsible and the daughter is very responsible. How much power does she have in distributing our assets? The will states our assets will be shared equally. Can she put his share in an annuity instead of turning over all cash? This is with our blessing.
1 Answer from Attorneys
Re: How much power an executor of a will has
An executor to a will has only the power given to her by the will. So if your will says the son should receive something, then the executor must give it to him, no strings attached. But if you draft your will so that the item is given to the executor in trust for the son (and you may want to define some conditions for disbursement - like income only except for emergencies) then the executor will not be required to disburse the entire gift all at once. But consider how much sorrow you want to impose on your daughter. Maybe this profligate son, like a hungry cat, would be constantly importuning her for more money. If the money is going to be wasted, you could consider leaving him not so much, or nothing. If you have a lot of money, you could arrange for the trustee for son's share to be an institution, and relieve your daughter of the problem. It's a common problem, and you should consult with a real lawyer about it.