My question involves estate proceedings in the state of: Pennsylvania
I am the sole beneficiary of a friend's estate. The only asset in that estate is a house that is being sold.
Who is responsible to manage and pay the expenses associated with the sale of the house? (e.g., utility expenses, property taxes) The executor or me?
My concern is that the executor is a lawyer who doesn't have funds to use as the estate only consists of a house that is as yet unsold. He says it is my responsibility to pay these expenses since I am the inheritor. Is there a law that clarifies this point?
In addition, I am concerned that I will be paying a significant inheritance tax shortly (9 months post death) on the estimated value of this unsold property. I don't have the money to pay that either: am I obligated to take out a loan to make that payment?