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Can I opt out of Will and Expenses?

 
 
Reply Sun 8 Mar, 2015 01:14 pm
My parents will states I'm executor and that everything should be sold and divided evenly between me and my sister. My sister is horrible with money and I particularly don't want the money (my half from the sale) or the hassle of dealing with my sister. Can I sign off my portion of gain to my sister (so she gets 100%), let her be executor, but also protect myself from having to pay half of the mortgage and utilities on my parents' house before it sells? As I understand it, someone has to keep those payments up until the property actually sells (I'm in Oregon).
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Type: Question • Score: 4 • Views: 737 • Replies: 4
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jespah
 
  2  
Reply Sun 8 Mar, 2015 01:18 pm
@cmabc123,
Probably, but contact a lawyer to be sure, and to have the procedures down pat. You do own your interest in the estate, but this may all have to go through probate anyway, and then you would sign over your $$.

But I am not certain. Please contact a lawyer admitted to the Oregon Bar who has experience with wills and trusts.
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bobsal u1553115
 
  2  
Reply Sun 8 Mar, 2015 07:49 pm
@cmabc123,
As executor you are charged with ensuring your parents' wishes are discharged. That said you can certainly quit claim your portion of the estate. It would be well worth talking to a lawyer regarding quit claim process and ramifications. As executor you can pay for estate expense from the estate and the judge who will probate the estate will allow you do this till the estate is settled. A lawyer can also help you to structure the settlement to help you to structure the settlement on your sister to help ensure she isn't cheated or disapates the estate outside the restrictions your parents have placed on the settlement to your sister. Good luck!
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personalinjury1
 
  0  
Reply Fri 20 Mar, 2015 12:09 am
I agree that talking to a lawyer regarding quit claim process and ramifications simply makes sense....
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layman
 
  0  
Reply Fri 20 Mar, 2015 12:16 am
@cmabc123,
I as understand it (again, ask a lawyer) you are under no obligation to serve as executor just because you were chosen by your parents in the will. You can simply decline.

Also, heirs have no personal responsibility to pay debts of the decedent. If the estate can't pay the debts, the creditors simply lose. They can't make you pay it out of your pocket.

For that matter, you could simply make your wishes known to your parents, and ask them to designate a different executor and/or delete you as an heir (and just leave everything to your sister, or whoever else they want to have it).
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