Estate executor refuses to act

My father passed on February 7 and I am the beneficiary of both capital and income from his estate which will eventually be deposited in a trust fund. The distribution will take a minimum of 6 months from now and could take up to a year. I am putting an offer on a house. I am putting a full 20 % down-payment so I don't need mortgage insurance. I can pay the mortgage costs for the 12 month period and am not asking for any early money from the estate. The bank gave me a pre-approval based on my existing assets and future income. However, the bank asked me to get a statement of approximate assets and expected income stream that I am entitled to from the trust company that is handling his estate so that they can give final approval. The bank has reviewed the will and I have given them a verbal amount of the assets. They are more than comfortable with the amount and see in the will that I am clearly entitled so have given me pre-approval at the best rate. I asked the executor from the trust company for this simple statement and she seems to not want to provide it. She did mention that they have a special relationship with another bank. She is not committing to giving me this statement and postponing providing me justification for her reasons. My bank and I are baffled by her refusal. My bank says it is my money so I am entitled to an accounting. The accounting is readily available. This coming Monday she says she will provide a verbal answer. I believe she is postponing knowing full well the deal may fall through. If this can't be resolved in a timely manner I will lose the house. This property is ideally suited for my needs as my son can readily walk to school. The low price is rare in this neighbourhood. In the offer to buy I am obligated to take measures to get a mortgage. I am fully qualified so am concerned that the vendor will look for damages if things fall through. I also will have damages as it is very unlikely I will find a similar property. Can I force her to provide me this statement in a timely manner ?


Asked over 4 years ago in Montreal, Maine
Categories: Wills, Estates, Trusts

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