Legal Question in Wills and Trusts in Massachusetts
Father dies leaving assets but no will
My father died leaving no will, however he did have some small retirement funds that he has listed beneficiaries for, who I believe not to be his children and the bank will not release the names of. I have applied for voluntary administrator to his estate, since the estate does not exceed $15,000 I'm not sure if I should have even bothered, because he did not have any other personal or real property aside from these IRA's which are less than $10,000. There was no life insurance and funeral expenses are being paid by me and my brothers. My questions is, If I am appointed administrator of the estate, does this allow me access to these IRA's and to use those funds to pay for funeral and or other expenses that may arise or do the funds automatically go to the named beneficiaries. And if there are any outstanding medical bills and there is not enough money to pay them, can a hospital and/or doctor hold me liable as the administrator to pay the bills.
Thank you in advance for your help
1 Answer from Attorneys
Re: Father dies leaving assets but no will
Most tax deferred products like an IRA by pass probate.
As an executor, appointed by the Court, you have certain rights and responsiblities. These should be discussed with counsel. Simply, you make the payment decisions in the behalf of the estate, and usually you are not held liabile, since you did not incur the bill.
Any questions, email me.
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