Q: Is executor liable for 5-year payments if business fails?

A: The executor is obligated to carry out the terms of your father's will, regardless of the business’s performance—unless the will explicitly conditions the payments on available business income.

If the will says beneficiaries are to be paid based on the business's value at the date of death, then: (A) the executor must determine the fair market value of the business at the date of death (usually via appraisal); and (B) the total owed for the 25% share is fixed based on that value, and not adjusted for future performance.

Also, the executor has a fiduciary duty to act in the best interest of all beneficiaries. That includes making payments as required, even if it means using other estate assets (e.g., potentially sale proceeds from the house). The executor cannot unilaterally decide not to make payments just because the business is underperforming.

Your Options: (1) request, in writing, that the executor provide a full accounting of the business valuation at date of death, use of estate proceeds (including house sale), and the business financials since death; (2) hire a Probate Attorney; (3) have the attorney review the will to confirm whether the payments are absolute or conditional (likely absolute given how you described them).

A: This situation sounds incredibly frustrating, especially when you're relying on promised payments and getting nothing but excuses. In Georgia, an executor has a legal duty to follow the terms of the will faithfully. If the will clearly states that beneficiaries are to receive specific payments over five years based on the business’s value at the date of death, then the executor is responsible for making those payments—regardless of how the business performs after that point.

The business's later performance or reinvestment decisions do not cancel out what is owed. The obligation is based on the value at the time of death, not future profits. If the executor used estate assets (like the house sale) and failed to set aside the money needed to fulfill the payment obligations, that could be considered mismanagement or a breach of fiduciary duty. The fact that you're only receiving verbal updates with no financial records is another red flag.

You have the right to request a formal accounting of the estate and how funds have been handled. If the executor refuses or continues to delay, you can petition the probate court to compel compliance or even seek removal if mismanagement can be shown. You’re not being unreasonable—this is about fairness and honoring your father’s wishes. Keep every record and don’t give up on holding the executor accountable.