One of the items we inherited is an investment account worth $7000 with a local hard money lender. None of the inheritors want this investment and each of us, as well as our probate lawyer, has called this firm several times telling them we want to cash out the money. They said they cannot because the market is bad. The money is legally ours and we feel they are holding it hostage. We signed nothing with this firm and as far as we are concerned have no written agreement with them for any service. What can we do to force them to cash out this money?
You have retained an attorney, so you need to ask him or her. If you don't think your attorney can provide an adequate answer, you need to retain different counsel rather than seeking out opinions on the internet.
This information is presented as a public service. It should not be construed to be formal legal advice nor considered to be the formation of a lawyer/client relationship. I am licensed in Connecticut and New York and my answers are based upon the law in those jurisdictions. My answer to any specific question would likely be different if I were to review a client's file and have the opportunity to interview the client. Accordingly, I strongly urge you to retain an attorney in your jurisdiction with respect to any legal matter.
Family Law Attorney
YOu really need to work this through your attorney. It doesn't make any sense if the person who has the Letters or is the executor of the estate can't take possession of the funds of the estate.
Estate Planning Attorney
The other attorneys are correct. This is not the best place to get the answers you seek. Generally the executor should be able to get the money. Your attorney and the executor are the best sources of information and have the ability to act and force the issue. Follow up with them.