I am the Executor of an Estate that includes a 60 ft boat which is in very poor condition, basically worthless, and will be expensive to dispose of. Can I refuse to accept the boat as part of the Estate?
No it is not a gift to myself. I am the Executor of an Estate that includes a boat that is basically a financial liability. I want to know if the Estate has to accept this liability as I am concerned that it may cost more than the assets of the Estate. It is not mentioned specifically in the will.
No it is not a gift to myself. I am the Executor of an Estate that includes a boat that is basically a financial liability. I want to know if the Estate has to accept this liability as I am concerned that it may cost more than the assets of the Estate. It is not mentioned specifically in the will.
To be a liability, then there must be some sort of duty to make good, or keep it up to a standard - such as if it was a workplace.
Why do you think you can't just sell it as/ how is?