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  1. #1
    Join Date
    Apr 2016
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    3

    Default How Does an Executor Recover Money Loaned to the Estate for Expenses

    My question involves estate proceedings in the state of: IL

    I am the executor of my mother's estate. We have a legal 'estate account' that was opened up with the official estate legal number, etc... to pay the estate expenses until it is ready to sell. I have been depositing the money into the estate account from my very own checking account, so I have been basically paying the 'estate expenses'.

    My question is this. Whether we sell the house to the public or to one of my siblings, I will still be refunded my money that I have provided to the estate account correct? My brother has mentioned that if he buys the house, he does not plan to refund me this money Can he do that?

  2. #2
    Join Date
    Jul 2010
    Posts
    7,858

    Default Re: How Does an Executor Recover Money Loaned to the Estate for Expenses

    Quote Quoting Everly
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    My brother has mentioned that if he buys the house, he does not plan to refund me this money Can he do that?
    That doesn't make much sense. If he's the buyer, money he pays for the house would go into the estate which you are the executor of. He wouldn't have any say in whether you get refunded or not.

  3. #3
    Join Date
    Apr 2016
    Posts
    3

    Default Re: How Does an Executor Recover Money Loaned to the Estate for Expenses

    Can you elaborate on that? I am assuming this. Say he agrees to buy the house for $100K. At the closing, I am returned my $10K in expenses from the top. $90K is distributed among the heirs. He then buys the house at $100K?

  4. #4
    Join Date
    Jul 2010
    Posts
    7,858

    Default Re: How Does an Executor Recover Money Loaned to the Estate for Expenses

    Any reimbursement should come AFTER the closing. The estate would get the 100K and then you would be reimbursed using the proper method for such reimbursement, then the remainder is distributed. If you are also getting a share of that remainder, I could see where someone might squawk thinking you are getting to double-dip even though that isn't really what you are doing.

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