As the personal representative and beneficary of an Estate:
Do I need to have my attorneys approval of the amount of the sale of the decedents home?
With a possible settlement coming,my attorney insists that I spread the money around ie. I pay him, accountants, appraisers all people that he hired to help with the estate first,before I pay the HUGE IRS bill.
Note: I have paid the attorneys bill for the first year in full, and retainer for one of the three appraiser, other two appraisers were paid in full. I was told the estate appraiser would charge about $20K but when I got the bill it was $50K wtih $600 dollars per month in interest accuring. I paid 10K up front. When I challanged the bill I was told "just pay it" I have not paid to date.
I have paid the accountants in full.
The estate is insolvent until this $150K comes through, but I owe $142K to the IRS with interest accuring as well.
Who gets paid first?
This estate has been dragging on for three years this month, and my attorney has not excepted or returned my phone calls for almost six month, however, he will email news from time to time and answer a few of my questions and concerns, but that is slowing down as well. I do owe him $65k.
I have handled all the inquires, montitor all properties, handled rentals, filed the taxes, gathered all info for K-1s for (12 properties) the reading alone is a full time job, meet with the accountants, show the homes for sale personally, maintain the two homes for sale (repairs etc) review all communications between the partners in these 12 properties. They do not communicate with me directly only through their attorney to my attorney.
I did contact my attorney frequently requesting the K-1's for the numerous entities starting back in May and did receive them in late October costing the estate $1,000 more dollars in amendments from the accountants.
Also I was charged $650 for last minute & overnighting an extention for the estate taxes for 2007; only to recieve a bill from the IRS, when I called they did not have that extention on record so now their are fees on top of that, When I emailed all the info asking about this peticuliar situation and requesting their confirmation of extention and wheither it was approved or not they responded with a tracking number and they did say the I should request the late fee removed.I am totally baffled to what to do.
All other properties are facing forecloser or have been sold under what the bank was owed, leaving just the two houses. The estate was only paid on two sold properties which wasl used for start-up fees for the estate.
I myself am intitled to compensation as well, I have been living and breathing this estate for 3 years.
What's a girl to do?
Sorry for the rambling, I need direction ASAP