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If an executor files bankruptcy for his own debt is the estate affected?
Wiki User
∙ 16y ago
No.
They are 2 entirely independent entities.
Wiki User
∙ 16y ago
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If a pastor files for bankruptcy can the church fund be affected?
If the pastor files for personal bankruptcy, no - the church fund can't be touched. If he files bankruptcy ON BEHALF of the church, then any and all funds and assets of the church can be affected.
Who files tax return for a deceased person?
The executor of the estate files the tax return for the deceased.
Who is executor of personal property when mother dies and is divorced?
Whomever files to be the executor. The estate can be opened by any heir or beneficiary, or even a debtor.
What happens if someone files for adverse possession during probate?
The executor has to defend the estate. They will have to hire an attorney to settle the case.
If you marry someone who files bankruptcy to get rid of debt from his first marriage will your credit be affected even though nothing is in your name?
Your personal credit will not be affected if your spouse files bankruptcy alone. Be careful though in future transactions if you apply jointly for credit later... it will show up there.
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
If a person files for bankruptcy and then they die can their estate be held responsible for any of their debt?
When a person dies leaving an estate then the first thing to settle from the estate are their debts which they have before the heirs and beneficiaries are given their share of it so whether a bankruptcy order has been petitioned or made or not this is the rule for everyone that dies leaving an estate.
What is executor's fee in Tennessee?
PetitionIn Tennessee, the estate executor files a petition with the court to receive payment for his duties. The petition includes a description of the assets of the estate along with a description of the services rendered. The estate executor requests an amount of compensation and then verifies that a copy of the petition was sent to all interested parties. The amount of compensation is based on the value of the estate and services provided by the estate executor.CourtThe probate court in Tennessee presiding over the estate determines the fee for the estate executor. The court decides on an amount which it deems fair, reasonable and appropriate given all the circumstances involved in settling the estate. These factors include the size of the estate, involvement of estate executor in settling the estate and relationship of estate executor to the decedent. The court will also take into consideration any complex litigation involved in the settlement of the estate. If the testator indicates in his will how much the executor should be paid, the court will take this into account, but must set the fee in accordance with state statute.Reasonable FeesIn determining the reasonable fees presented to estate executors, Tennessee courts take into account the value of the decedent’s gross estate. If the value of the estate is under $50,000 a minimum fee of $500 to the estate executor is considered reasonable. The percentage of the estate executor's fee decreases as the value of the estate increases. For example, for an estate valued at around $1,000,000, the estate executor would receive .5 to 1 percent of the estate's value. For an estate over $1,000,000, the estate executor would receive .25 to .50 percent.Extraordinary ServicesTennessee courts also take into account extraordinary services when determining fees for an estate executor. Extraordinary services can prolong the administration of an estate and consume more of an estate executor's time. Examples of extraordinary services include sales or mortgages of real or personal property and lengthy contested litigation involving claims against the estate. Complex tax returns or audits by any federal or state agencies can take up more of an executor's time. Finally, the managing or selling of the decedent's business can be a consuming process. Tennessee courts value this extra time and compensate estate executors accordingly.
If I die Does the executor of estate supersede my husband if his name isn't on the property?
A testator chooses an executor to take charge of and settle their estate after they die. The executor must file the will in probate and must be appointed by the probate court. The executor has no legal power until they've been appointed by the court. The court generally will appoint the executor that was named in the will unless someone files a legitimate objection. The executor has nothing to do with your husband's right to inherit from your estate. If you die owning property in your own name, and you don't live in a community property state, the property will be distributed according to your will, or, if you have no will, it will be distributed according to the state laws of intestacy. You can check the laws of your state at the related question link provided below.
What if happens if you cosigned for car loan and the borrower files for bankruptcy?
if the consigner files bankruptcy can the borrower take the car
Who do you report your brother to if he has taken over your duties as executor of mother's estate by removing original documents from parent's files?
First, the named executor must be appointed by the court. Once appointed the court issues Letters Testamentary to the executor and the letters provide the authority to settle the estate. Another person cannot 'take over' the executorship because the letters are issued in the name of the court appointed executor.The court appointed executor has the authority to settle the estate according to the provisions in the will and according to the state probate laws under the supervision of the court. The executor also acts under the umbrella of the state probate laws. The brother's behavior can be reported to the court and the court has the power to issue a court order to return the files he has taken can and impose further legal sanctions if necessary.
What happens if a co signer files bankruptcy?
They both go bankruptcy
