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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5748  
Subject: Re: Will bequest vs. account beneficiary designa Date: 3/15/2012 9:29 AM
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Well, eventually these things do get sorted out. What will happen is the 3 siblings decide who they want to be the personal rep., and hire a lawyer to petition the court to appoint him/her as such.

Always have a will. It's just easier.


In MA, you also have to post a bond to be named Executor, so it could end up costing someone money because if you don't have the money for a bond, you have to pay a bonding service to get that, and I'm not sure that the estate would be responsible for that expense.

Also, if anyone contests the distribution of the estate, then the estate gets to pay all the legal fees.

Oh, and in MA, the executor can also be paid to administer the estate, so it's possible for someone who is not an heir, for instance, to be the executor and actually get paid more money than eventually gets distributed.

We're going through all sorts of fun now both with estates where wills existed and where a will did not exist. I wouldn't do this to anyone, least of all someone I care about.

Get a will. It's so much easier.
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