Can en excutor of a will who is also a beneficiary make another beneficiary repay a loan to the deceased?
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Can en excutor of a will who is also a beneficiary make another beneficiary repay a loan to the deceased?
I borrowed money form my mother two years ago, due to financial problems i have
not been able to pay her back, my mother died and my sister who is executor and a
beneficiary is deducting the loan balance from my inheritance amount.
Asked on July 4, 2017 under Estate Planning, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
An executor has a fiduciary duty to admnister an estate. This includes paying debts of the estate as well as collecting any monies owed to it. Accordingly, if the money that your mother gave you was a loan and not a gift, then it is anof this estate asset that must legally be collected. This can be done by offsetting the outstanding balance from your inheritance.
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