Legal Question in Wills and Trusts in Pennsylvania
Executor Rights
My father-in-law passed away nearly two years ago and my wife became executor of the will. Within the will it states that the executor has the right to basically do whatever it takes to satisfy all debts owed. My father-in-law owned two pieces of property one that was specifcally mentioned in the will that my wife inherited. The other piece of property was never mentioned however it stated that once the estate is settled all remianing assests are to be divided evenly between my wife's step brother and sister. To date the taxes have been paid and filed with the state but we still owe money to the lawyer plus my wifes percentage for being the executrix. My wife would like to sell the property, pay the remaining debts and be on her way. Does she have to permission from her step brother and sister to sell?
1 Answer from Attorneys
Re: Executor Rights
Your wife should consult with the estates lawyer who assisted her in administering the estate.
The Executor has not only the right, but the legal obligation, to pay all debts of the estate before distributing any assets. The estates lawyer should counsel your wife as to what that involves, including advertising the estate so that creditors may present their claims, filing all tax returns, including the PA Inheritance Tax return, and paying the applicable taxes due.
Only after all debts are settled may the estate assets be distributed.
The Will may or may not have spelled out how the taxes are to be paid, from the entire estate or only from the residuary. The residuary is whatever is left after payment of debts and distribution of specifically devised assets.
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