Legal Question in Wills and Trusts in Maine

Does the executor of an estate have the right while person is living to take $25,000.00 out of her invested funds and buy a stock that goes belly up with out the persons consent and the other beneficaries consent


Asked on 1/29/11, 6:39 pm

1 Answer from Attorneys
Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Executors do not have any authority while a person is alive. Perhaps the individual you refer to also has a Power of Attorney (POA) for this authority, but still, their conduct as a POA is subject to statutory limits. While the POA does not need the consent of the future beneficiaries, it is possible that they have acted wrongfully with respect to this transaction, or even other transactions not yet known, if investigated.

Feel free to call to discuss further if you'd like.

www.atrlaw.pro

Read more
Answered on 2/09/11, 6:10 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Maine