Legal Question in Wills and Trusts in Illinois

Does the executer of an estate own the "estate?" IE land, house.


Asked on 9/03/11, 2:50 pm

2 Answers from Attorneys

Jeffrey R. Gottlieb Law Offices of Jeffrey R. Gottlieb, LLC

No. The executor holds title to property as a fiduciary, subject to his/her obligations and duties as fiduciary under the terms of the Will. The executor directs disposition of estate property, but doesn't own the estate property any more than a corporate treasurer owns property of the corporation.

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Answered on 9/03/11, 3:04 pm
Gregory Turza Law Offices of Gregory P Turza

Mr. Gottlieb's answer is correct. But it sounds like you are having issues with how the executor is handling the estate. Sometimes it can seem like he is the "owner" because he can liquidate hard assets, move money into an account in the name of the estate etc. He has "Letters" from the court entitling him to deal with the assets. If he is wasting assets or using them for his own benefit (like living in the house or occupying the real estate) then there are things you can do. You can terminate what is known as "independent administration" so that his actions will be more closely supervised by the court. Before taking this step I would see what the situation is and try to resolve the issues. Supervised administration is more expensive for everyone. Either way it is wise for you to get representation. For more information please visit our website: www.legacylaws.com. The initial consultation is free.

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Answered on 9/05/11, 5:46 am


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