Q: In California where does the money go when an executor is appointed and needs to distribute funds and pay creditors..
The current executor disappeared we're in the process of me trying to get appointed as new executor and I need to find out how much or what has happened in what has happened in the account or where the funds are at funds are at for my father's estate
A: The current executor should have opened up a bank account and funded the account with cash from the estate. You should ask around to find out who may know where the account is. In addition, the executor is required to provide an accounting to the probate court and beneficiaries before they are relieved of their duties. Also, the court may have required the executor to secure a bond before Letters of Administration were issued. You should contact the bond company if assets are missing and inform the court. If the executor stole from the estate, then the bond may be forfeited. In addition, the bond company should be helpful in locating the executor and missing assets. Best of luck with this.
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