Q: Probate, does executor of the will( sister) have to provide proof of asset sold to beneficiaries? (Me) In Colorado
My older sister is the executor of my dad’s well. His kids, including myself, are listed as the beneficiaries, and it says we are supposed to split everything equally.
She sold his car for $500, and will not provide a copy of the bill of sale or who she sold it to. We believe that she sold it to her husband’s family clearly under market value.
She also listed his house for sale, which we don’t have an issue with. However, she removed all of his valuables two days after his death, so that none of us could have it( living room furniture, tv etc) She stated that she gave them to him as a gift, so they are hers. She is in charge and she can do whatever she wants and doesn’t have to get her approval for anything or tell us anything.
We are concerned that she will also sell the house to a friend, family member etc, for under market value price.
She told us she does not have to keep us updated or provide any documentation for anything she sells of his.
In Colorado, an executor (also known as a personal representative) of a will has a legal duty to provide an accounting of the estate's assets, income, and expenses to the beneficiaries. This accounting includes details about any assets that have been sold or distributed. Beneficiaries are entitled to receive this information to ensure transparency and proper administration of the estate.
If you are a beneficiary and you believe that the executor has not provided accurate or complete information about the sale of assets, you may have the right to request additional documentation or information to verify the transactions.
In addition to what Mr. Claus has pointed out, as a beneficiary, if the personal representative (executor) does not provide the requested documentation, you have the right to file with the court (in the probate case case) and ask the Judge for assistance in getting documentation. You also have the right to ask that the administration be supervised, meaning that before an asset, such as the house, is sold the court has to review the proposed transaction and make sure it is being sold for fair market value. If the personal representative does not comply with the court's orders to provide documentation, the court has several options to obtain compliance. At the most extreme, the personal representative can be replaced.
You need to start with making the request for documentation in writing. Your next step will be determined by the response you get. If you feel it needs to be raised with the court, you should definitely find an experienced probate attorney to work with.
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