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A beneficiary does not have to accept an inheritance. Their share or that item will go back to the estate to be distributed in another manor.
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Can a beneficiary of an IRA name a successor beneficiary in the state of Colorado?
No. A beneficiary has no authority to name a beneficiary of another's property. Only the principal can name the beneficiary. Generally, if the primary beneficiary declines to accept the inheritance then the gift will lapse and the property will be included in the estate.
Can a trust property be refinanced by a sibling to pay off another in California?
Upon contract a beneficiary and secondary beneficiary are chosen. A sibling can refinance only if their name is initially included on the trust property's contract. If they are not secondary beneficiary, it is very difficult but not impossible if primary beneficiary can not comply.
How can the beneficiary be removed?
The only person who can remove a beneficiary is the testator or a judge by a court order.The only person who can remove a beneficiary is the testator or a judge by a court order.The only person who can remove a beneficiary is the testator or a judge by a court order.The only person who can remove a beneficiary is the testator or a judge by a court order.
What if the property is in a trust and I am the beneficiary of that trust?
Under UK Law: The trustee's must authorise the release of the property to the beneficiary(s) The beneficiaries under certain trust law can demand the property of the trust, but the trust deed must state a legal 'absolute' entitlement to that property. If the beneficiary has an absolute right to that property and has attained the stated age at which he or she should receive that property then the trustee's must authorise the payment to the beneficiary. IF it is a discretionary trust then you are only a 'potential' beneficiary and have no legal right to demand the property
Can executor own property if he is not beneficiary and beneficiary dies?
No, he cannot own the property. His job is to distribute it according to the will or the state laws for intestacy.
Does estate money belong to both husband and wife?
An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.
How do you remove a relative from a deceased parent's home when the parent died with a will and did not include that relative as a beneficiary.?
The new owner of the property or the trust holding the property would need to legally evict the person.
Who is responsible for homeowners insurance the beneficiary of the trust or the person with a life estate interest in the property?
Q. Who is responsible for homeowners insurance the beneficiary of the trust or the person with a life estate interest in the property? A. If the property is a (personal residence, family farm, rental property or even a vacation property) held in trust.Regardless of a life estate for a named beneficiary. The property tax payable would be the responsibility of the owner of the property listed on the property deed. In this case it appears that the owner of the property is the trust. Therefore the trust would be responsible for the tax. The remainderman beneficiary nor the current beneficiary enjoying a life estate in the property would owe the property tax.
Can you will someone your home if it is not paid for?
Yes. You can leave your property to a beneficiary. However, the beneficiary must pay off the mortgage or the lender will take possession of the property by foreclosure. When you grant a mortgage you are granting the lender an interest in your property. Your beneficiary would take the property subject to the bank's interest.
Is a spouse of one of the beneficiaries of an estate permitted to remove tangible property from the home such as tools?
The spouse of a beneficiary has no rights to the estate. Removal of property without the executor's authorization could be prosecuted as theft.
Can a beneficiary sell the estate?
A beneficiary does not have the right to sell the estate. Only the executor can sell property.
Can a beneficiary to an estate enter into a new lease agreement?
If the beneficiary inherited the property and the estate has been probated then she is the new owner and can execute a new lease agreement.If the beneficiary inherited the property and the estate has been probated then she is the new owner and can execute a new lease agreement.If the beneficiary inherited the property and the estate has been probated then she is the new owner and can execute a new lease agreement.If the beneficiary inherited the property and the estate has been probated then she is the new owner and can execute a new lease agreement.
