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Pay inheritance to beneficiary in instalments?

 
 
Reply Mon 23 May, 2022 02:39 pm
Can an executor pay a beneficiary their inheritance money in instalments? Thanx
 
glitterbag
 
  2  
Reply Mon 23 May, 2022 02:48 pm
@suerowe53,
What does the will specify? Is the inheritance contained in a special account of some sort?
jcboy
 
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Reply Mon 23 May, 2022 03:01 pm
@glitterbag,
Exactly, mine was set up in monthly installments. When I turn 40 I get half of what is left, then when I turn 50 I get that balance. That’s how the will read and how the trust was set up.
0 Replies
 
suerowe53
 
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Reply Mon 23 May, 2022 03:22 pm
@glitterbag,
My brother and I are the named executors in our mother's will (our mother did not name our sister as an executor), the will does not specify this as a condition but our sister is not good with money, this is why only me and my brother are executors. We do not want to withhold our sisters share but we would like to know if we are allowed in law to do this, thanx
glitterbag
 
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Reply Mon 23 May, 2022 03:31 pm
@suerowe53,
You'd better check with the probate folks........I don't know if you can just arbitrarily make such a decision. I understand you're both executors, and it might even be smart for your sister.......however, she might not like such a decision and that could wind up causing legal problems.
suerowe53
 
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Reply Mon 23 May, 2022 03:33 pm
@glitterbag,
Mmm...yes, good advice...I will check with probate, thanx for your replies (;o)
0 Replies
 
 

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