Legal Question in Wills and Trusts in New York

downside of being a executor?

My granmother left her estate to her children my mother whom has bad debt had her share placed in my name. I recieved a letter from the probate court for a hearing. The children do not plan on selling the house for 2-3 years and 2 of the children currently live in the house. The house is the only assest left there is no monies in accounts, stocks, bonds, etc. Noone in the family is financially responsible - if they pay the bills I doubt it will be on time if at all. Any outstanding bills currently in my grandmothers name will most likely not be paid. I am a single mother with very good credit, I own a condo and am planning to buy a house within this year. How will any of this effect my financials and/or credit situation if I choose not to disclaim my interest.


Asked on 4/06/09, 11:55 am

1 Answer from Attorneys
Linda Subbloie Linda A. Subbloie, Esq.

Re: downside of being a executor?

That is what the probate court is for. If the executor of your grandmother's estate does not perform in a financially prudent manner, then you, as a beneficiary, can ask the probate court to replace her/him. You also can petition the probate court to force the sale of the home, if you do not believe that your share of the asset will be preserved.

I do not think you need to disclaim your interest, so long as you can seek appropriate relief from the probate court to secure your share of the estate.

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Answered on 4/06/09, 12:28 pm


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