Legal Question in Wills and Trusts in Massachusetts
executors duties
as executor and major heir to an estate valued at 7000 or less,with a claim of 150000[gov. agency] against it,making it insolvent[will filed] am i supposed to be reporting anything to court,and also can i buy out the estate at fair value and pay state whatever is left over after administration costs exec fees and paying credit accts and utilities also how long can i probate this will says as long as i deem neccessary. having problems with other heir who does not understand state agency wants it all,also what are customary/fair exec fees
1 Answer from Attorneys
Re: executors duties
You file a small insolvent estate. You inform the state agency of the property values and provide it with an inventory and get the other party to accept administration or you have to go to court.
As to you buying the items ask the court to approve the sale and unless some one abjects you are done.
Unless the Agency has a claim against other assets gifted by the deceased prior to his death, you are done.
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