Q: My mother died in June 2017 and my father died yesterday. They have a will and have named myself and my sister as
co-executors, They have about $10000 in the bank, a reverse mortgage (we don't want the house) and an ira worth about $30000 which we are both named as beneficiaries. We both don't want to be executors or do any probate filings or notifying anyone of anything. Are we legally required to?
A: Yes you are. There will be no way to get those assets (house and bank account) out of their name (besides the IRA) without going through the Probate Court. It is required that you file the proper forms and pay any fees due. If you fraudulently transfer any of these assets (besides the IRA) to yourselves, that could create a legal issue for you. It is NOT advisable.
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