Legal Question in Wills and Trusts in Texas

Estate money in bank drawing interest under the executor
Who is eligible to recieve the interest accumulated from the money left in a will that the executor (attorney) has placed in an account? The attorney is to recieve compensation for being the executor. The money has been in his control for 15 months...is this the legal timeframe? Real estate and contribution to a church have already been done, but no reconciliation of the remaining funds currently in the bank (in his control). The will has been probated with no contests.

Asked on 10/17/06, 11:41 am

Peter Bradie Bradie, Bradie & Bradie

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Re: Estate money in bank drawing interest under the executor

First the costs of administration, then the balance to the devisees named in the will.

Answered on 10/17/06, 11:50 am

Cheryl Rivera Smith The Smith Law Firm

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Re: Estate money in bank drawing interest under the executor

If the money was in the attorney's IOLTA account, then interest goes to the State of Texas to benefit legal aid.

Answered on 10/17/06, 6:00 pm

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