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House left in trust to children no mortgage can money be released on this property?
quite simply no i live in a house left in trust to me and it would be like getting blood out of a stone plus have a bit of respect for the relatives wishes for a stable roof over your head or the childrens
What is the easiest way to settle a parent's estate in Illinois if they had more debts than assets?
Probate is the easiest way and the legal way it should go when a Will is left. Probate makes sure that all creditors (banks, charge cards, loans, property taxes and personal taxes, etc.) are paid in full. Whatever is left after the creditors is paid goes to the Heirs in the Will. If there is no money left and debt still owing then the creditors are out of luck and the Heirs are not liable for any monies owing. Marcy
What impact are Reverse Mortgages on surviving heirs?
The heirs will have 6 months to refinance the home or sell it to claim the equity once the borrowers pass away. if there is no equity in the home or there is negative equity the heirs may give the home to the lender without any recourse. HECM reverse mortgages have no personal recourse to the borrowers or the heirs, so the home can be sold at any time, and if negative equity occurs the lender takes the loss alone. The heirs can even keep any loan proceeds left to them from the original reverse mortgage as all of the borrowers personal assets, bank accounts, etc. can still be left to the heirs without any hindrance from the lender.
If one left company with money in 401k can it be retrieved years later?
Yes, those monies are held in a trust company for your benefit only. You're the only person who can access them.
Can credit card companies force heirs to sell real estate after a death?
If the credit card company has filed a claim against the estate the debt must be paid before any assets can be distributed to the heirs. In any estate the debts must be paid first. The heirs get any assets that are left after the payment of debts. If the estate doesn't pay the bill the creditor can force the sale of the real estate to collect the debt. If the property is the only asset and the heirs want to keep it then the heirs must pay the credit card bill.
If you die what happens to the money in your checking account?
It becomes a part of your estate and is used to pay off any debts. If there is any money left, it will go to your heirs.
Your son grandmother left him a trust till he turned 18 does the parent have to go with him to the bank to get it?
my sons grandmother left him money in a trust till he turns 18.his father put it in his name and my sons.do they both have to be there for my son to get his money?
Is money left to you from a trust taxable?
Yes, in most cases it is taxable. The law is different depending on the type of trust and what state you are residing in.
Does property left to heirs remain as estate of individual until sold?
Yes, the property left to heirs becomes part of the individual's estate until it is transferred or sold by the heirs. The heirs inherit the property with the rights and responsibilities associated with ownership while it remains part of the estate.
If your husbands sister named his as one of her heirs and he died who gets his share of the estate?
possibly who ever he left his money to. im not really sure though..
How was ownership of slavery transferred?
Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.
my dad left large trust for me and my cpa is trustee and wont give me any of my money- what can i do?
kill him
Why the Tudor reign came to an end?
Elizabeth the First left no heirs.
If I've been left a house in a will do you have to sell it if they go into a care home?
If the testator is still living then you haven't "been left a house" yet. You will only inherit it after the death of the testator and IF it is still in their estate.When a person dies their estate must be probated through the probate court. The court will appoint an executor and the debts of the decedent must be paid before any property can be distributed to the heirs. If the decedent owes money for medical care the facility can file a claim for any money due. If the state provides medical assistance, the state can file a claim against the estate.All of the above is the reason more affluent and sophisticated people do "estate planning" and transfer their property to trusts drafted by trust attorneys. When they die they don't "own" any property and it will pass to their heirs from the trust free and clear.
Can a asset protection trust void your mothers last will and testament?
Any property that was transferred to a trust during life is not owned by the decedent after their death. That is the whole point behind trusts. The trust owns the property. A Will can only distribute property owned by the decedent at the time of their death. If your mother left you certain property in her Will but had transferred it to a trust during her life then that property is gone. It cannot pass by her Will. A trust cannot "void" a Will. An "asset" protection trust is intended to protect assets from creditors, the government and would be heirs.
House left in trust to children no mortgage can money be released on this property?
quite simply no i live in a house left in trust to me and it would be like getting blood out of a stone plus have a bit of respect for the relatives wishes for a stable roof over your head or the childrens
What animal hunts chihuahuas?
No animal hunts specifically for chihuahuas, but these tiny dogs can fall prey to coyotes, bobcats, pumas, birds of prey and even larger dogs if left unattended.
