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Estates

Parent Category: Law & Legal Issues
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
No unless you specifically guarantee payment.
b:post-16189886I think it is two years that the ATO thinks isreasonable. If it is sold after two years there is CGTimplications.You normally shouldn't be paying the rates etc, itshould be the estate doing this. As the house is still owned by theestate. If it has actually changed titleO
Probate is the legal process by which a person's final debts aresettled and legal title to property is formally passed from thedeceased to his or her beneficiaries and heirs. There are manyarguments for and against probate and its value in an estate plan.
Send the company a letter along with a copy of the deathcertificate. If there is an estate, the balance will need to bepaid. Check with your lawyer for varying circumstances.
The estate must repay the loan before assets are inherited.Otherwise, only if they cosigned.
Yes if they go through probate. There is an intestacy law that specifies distribution. Without going through probate, the state could claim the property. Consult an attorney in Florida.
This might be a case of what is called a gift causa mortis. Normally when a person dies intestate (without a will) the person's possessions derive to her heir. Normally a husband would be the first heir followed by an issue (kids or grandkids) but this can differ based on law from state to state. A...
An attorney in fact is someone who acts for another person. To dothis, he or she must hold a power of attorney from the person forwhom they are acting.
If you mean "what is an interest change date" it means the date when the interest rate on a loan changes when the loan is an "adjustable" or "floating rate" rate loan. A lot of home loans, for example, are "ARMs" or adjustable rate mortgages, and change usually on an annual date. Some debts are so...
Yes. The owner of the item may leave a will where the "item" isbequeathed. However, if the item is a large financial orproperty/business then other parties may take exception to this andchallenge the will. It is always appropriate to seek out a legalprofessional to ensure the the wishes of the...
If they left any property in their own names the estates must be probated in order for title to property such as bank accounts to be changed. An estate of real property must be probated in order for title to pass to the heirs legally.
Most states provide some form of homestead exemption against creditors for your primary residence. However, the amount protected varies by state. The inherited property may be vulnerable to your creditors. Your creditors may seek judgment liens in civil court and may be able to record those liens in...
If the will has been filed in probate then you can contact the court to obtain a copy. If your brother refuses to file the will for probate then some other family member should petition the court to be appointed the administrator of the estate as though your mother died without a will. It is likely...
The coat of arms of the Russian Federation derives from the earlier coat of arms of the Russian Empire which wasabolished with the Russian Revolution in1917 and restored in 1993 after the constitutional crisis .Though modified more than once since the reign of Ivan III (1462-1505),the current...
A gift of something contained in a Will.
Waiver of notice means that a person is aware of the probateproceedings for a will. It also means that a person will notreceive any notifications about the proceedings.
Belongings are to be divided equally between Beneficaries or goesto cherities ********* It also depends, initially, whether there is a will and appointedExecutors.
A "Petitioner" is a person who brings a petition. They are kind oflike a plaintiff in a civil suit. They are asking the court to dosomething, that is make an order effecting their, and potentiallyother persons, rights and property. A "Respondent" is the person who (yup, you guessed it) responds...
While I am not sure what you mean by "cost to become an executor ofthe estate," you might find this information useful on the cost toopen an estate. To be appointed as executor or administrator of the estate(executors serve is there is a will, administrators serve if thereis no will or no named...
An executor is not allowed to do whatever they wish unless thatpower was specifically granted in the Will. An executor hasabsolutely no power until the Will has been filed for probate andthe court has appointed the executor. Once appointed the executorhas the authority to settle the estate ...
The trustee must sign a deed with the trustee listed as Grantor andthe person to get the house listed as Grantee
Depends on your state. The amount of the administrator's fee, and when it gets paid,depends on the law of your state. Here in California, the administrators fee is set as a graduatedpercentage of the value of the estate plus an additional amount ifthe administrator performs any extraordinary...
That depends on how the initial Power of Attorney is drafted. It can be set up so they may act independently or so that they must each sign every document or check together. It should be discussed and analyzed ahead of time to avoid confusion.
Upon the death of the parent with a Will, the estate goes through some form of probate, depending on the state where the parent died. The probate process will follow whatever rules are established for this asset in this state.
in the probate office of the county the deceased resided in.
More information is needed to answer your question. Was the Motherstill living when the Condo was sold? Who inherited the Mothersshare of the Condo upon death? What was the selling price of theCondo? Was it sold to an unrelated person?
An executor is obligated to keep heirs informed of courtproceedings of an estate. Information should be sent by first classmail or certified return receipt for proof of notification.
As a general rule, none. California does not recognize common lawmarriages. But, exception do exist. One, you are named as a co-owner. Here you have a right to aportion of the property. If you are named as a joint tenant, youmay receive all of the property (along with any other joint tenantsor co...
No. The point to a will is to deem who you want to receive anything is named. Unless the will was made before you where born I don't think that you can challage that either. If your father did not know you would exist the date the will was made, then I think you might have a case. but in all...
All states have laws of intestacy that direct the distribution of an estate when the decedent dies without a will. As an old Professor of mine would point out: NO ONE DIES WITHOUT A WILL. Everyone actually has one. Because, if you don't write one for yourself, the State you die in already has ......
Even though it is advised, in most cases, a holograph will (handwritten or self written) that contains all the correct state specific wording and is notarized in the presence of two impartial witnesses may hold up in court.
At the probate court, at the local law library and from a local probate lawyer.
Yes..It is even better than a typed or printed Will. Called a holograph Will. Much easier to prove in a court of law by the propounder if there is necessity for probate in that legal system..There are two types of Wills: Privileged and unprivileged..Priviliged Wills are of Soldiers, Sailors,...
Answer A life estate is the right to the possession, use and income from a property for the duration of one's natural life. That person cannot leave the property to anyone else in their will. After the life estate holder's death the life estate is extinguished and the property is owned by the fee...
No. If a trustee of a living trust dies, then the successor trusteetakes over. If there is no named successor trustee, then someoneshould file a petition with the court to name one.
Get ahold of the executor/executrix. File a claim with the Surrogate court where the will was probated.
You should petition the probate court to be appointed the administrator of your mother's estate if you're over eighteen years of age. Once appointed you will have the legal authority to take possession of your mother's estate. No one can appoint himself to be in charge of an estate. You should...
The duties of the Executor are too broad to write them all in this forum and they vary from state to state. Briefly, the general duties are the following: .Safeguard the assets, changing locks if necessary until the will is presented for probate .Select the attorney who will handle the estate ....
A sibling cannot appoint himself the administrator of an estate. Only the probate court can make that appointment. He needs to petition the court to be appointed and if you have objections you can submit them to the court. There will be a hearing and the court will review your objections. Another...
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was there any OLD LAND IN EXETERS WILDFLOWER VILLAGE
In New Jersey at least, and I assume it is the same all over, a will can be challenged after a person dies. In fact, no will can be challenged UNTIL the person dies. I have seen several will contests and in some of those cases it was absolutely right to challenge them.
Select an executor for your will based on trust and relationship. Afamily member can execute the estate or you can choose two peopleto be co-executors. Lawyers can do it but they will likely chargethe estate a percentage.
In California, a community property state, all income and property of the family unit is subject to consideration for repayment of student loan debts. If student loans are in default status and the borrowing spouse passes away the debt does NOT necessarily die with the borrower. Depending upon the...
Generally speaking, no; only if the person holding power ofattorney also signed individually or fraudulently authorized theestate to become indebted.
No one can accomplish anything by one visit to the courthouse. If the renegade sibling filed a petition in probate court to be appointed the administrator of the estate the other siblings will be given notice of the date of the hearing and can follow the instructions in the notice to object to the...
Not necessarily. Estate real estate is like any other - based on location, location, location, condition, etc. Unless the sale is a distress for some reason. If there is an executor or administrator, or trustee, all of them have fiduciary obligations to the estate to get the best price possible.
When a plaintiff (deceased) is suing out of their estate; The estate of a deceased plaintiff; Intestacy - leaving behind no will.
When a will has been filed for probate, there is a short period at the commencement of a probate proceeding when it may be contested. Any objection must be filed with the court during that period or the right to object is lost.
The second marriage is invalid, so the children of that marriage are illegitimate. Whether illegitimate children are entitled to a share of the inheritance depends on the law of the particular country involved - which you do not specify.
You do not have to justify using money in your bank account unlessyou are in the middle of a bankruptcy and someone is overseeingwhat you are doing. There are few occasions where you have todivulge this type of information.
Typically the trustee is the successor bank, but it does depend onwording in the trust as well as potentially state and/or federalbanking laws.
Typically they are no responsible. However, the estate has to resolve it before making a distribution.
A cousin can contest a will but only if by winning the contest, the cousins will inherit a part of the estate that they would not inherit under the will. In short, the cousins have to have "standing" to contest a will. "Standing" generally means having some kind of stake in the outcome of the case....
Yes, it could. The property would be considered a part of his estate. A lien could be put against it.
As long as there were no changes made to the tenancy by deed the joint tenancy would remain intact and the title to the property would automatically pass to the survivor. The situation would be different if the property was held by a tenancy by the entirety.
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Tennessee courts typically base the fee on the following: if thevalue of the estate is under $50,000 a minimum fee of $500 to theestate executor is considered reasonable.
In addition to all out-of-pocket expenses in managing and settling the estate, Personal Representatives (executors) generally earn a fee of about 2% of the probate estate for their work. (This varies moderately in jurisdictions and generally decreases as a percentage as the size of the estate...
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Generally, the daughter would own the fee in the property subject to the mother's life estate. So the answer is yes, the property would be part of the daughter's estate.
Heraldry began because most people could not read, so symbols were used to identify different nobles on the field of battle.
About 80% of the Third Estate were agricultural workers or peasants who lived and worked on the land owned by the Nobility or the Catholic Church. They were the subsistence farmers, swineherds, shepherds, dairymen, milkmaids and vinters who produced the grain, meat, produce and wine that fed and...
The estate is responsible for the debts of the decedent. If there is no estate the creditors are out of luck.
Her estate is responsible for all debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
The coat of arms is a shield that is red that has a white cross on it
Yes, you are responsible for the difference in the balance you owed and the amount they sold it for. i.e.: owed 50,000, they sell it for 30,000; you still owe them 20,000.
Retain an attorney to work things out, do not try to go this alone.
A beneficiary has no responsibilities. They receive the benefit of the bequest or trust. They would be responsible for any tax consequences.
People support it because they believe in second chances and/or to save their taxpayer dollars. Authorities support it because they don't have to house people if they make parole. It can be a revolving door, especially since parole violators are not sent back to prison unless the parolee does...
The only debt you're liable for - is anything in joint names. Any debt solely in his name died with him.
Yes - if the account is in joint names, and one of the named people dies, the surviving person assumes all liability for the outstanding balance.