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If I am a beneficiary and inherit a property and and insurance policy. Can the executor put a large chunk of the money back into the estate without my consent. There are no debts on the house, just an outstanding mortgage.

  • What money? If you are inheriting a property with a mortgage on it, and you are not the named beneficiary of the life-insurance policy (the estate is the beneficiary), then the executor is under no obligation pay you the proceeds of the insurance policy, but can use the money to pay off the mortgage and pay the estate tax (if any), file a final income tax return for the deceased and pay any tax due etc. – Dilip Sarwate Jul 24 '19 at 3:49
  • I am the names beneficiary of the life insurance. Does the executor have a right to use that money to pay a chunk of the mortgage i.e $50k as opposed to just outstanding debts/mortgage payments. – olivia Jul 24 '19 at 4:22
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    I'm voting to close this question as off-topic because this is a question of Law (and thus Law.SE), not Personal Finance. – RonJohn Jul 24 '19 at 12:44
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    If you are the named beneficiary, then the money belongs to you, and is nothing to do with the estate. The executor should not even have the money. – Simon B Jul 24 '19 at 14:10
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If you're a beneficiary on a life insurance policy on the deceased then that money is yours - not the estate's - and the executor has no say over how it's used.

If, alternatively, the deceased was a beneficiary on a life insurance policy and there were no other beneficiaries then that money would go to the estate, which would give the executor control.

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