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What happens to the estate after the estate is closed?
There should be no remaining assets in the estate once it has been closed. All the property should have been distributed according to the Will or according to law.
What is a closed estate?
A closed estate would be one where the probate processs has been completed and the assets have been distributed.
Can a beneficiary ask what an estate is worth?
Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.
What happens to moms furniture if it is in a house that you own and there is no will who gets the funiture?
The estate gets the furnature. The executor of the estate will then distribute it according to the intestacy laws once the debts are resolved.
What does life estate mean?
Life estate is an interest in real property. It is measured by the life of the person that it has been granted to. As long as they are alive, they have that right in the property. Once they die, it ceases to exist and goes to the remainderman, the person listed to get it after their death.
What happens to the remaining assets in a closed estate?
If any undistributed assets remain in the estate then the estate must be reopened and an estate representative must be appointed by the court.
Is the executor of an estate finished once the estate is closed?
Once the taxes are paid and the estate closed they are done. Most of the time the court will issue the order closing the estate.
Can an executor collect money owed to estate after estate is closed?
They have a duty to do so. The estate can be reopened to finish off any new business that arises. This is a big issue in some cases.
Can growth plates be reopened?
No. Once the growth plates are closed they can never be re-opened.
How many times has the globe theatre burnt down?
burnt once, then closed down, then reopened to our modern day.
How did Franklin roosevelt make the banking system stable again?
He closed all the banks and only reopened those with enough money.
What happens to the estate after the estate is closed?
There should be no remaining assets in the estate once it has been closed. All the property should have been distributed according to the Will or according to law.
Your mother died 5 years ago in California and the estate was closed a year later so are you still liable for credit card debts as the sole beneficiary of her estate?
How could the estate be legally closed if there were still outstanding debts owed? Sounds like someone didn't do the job of running the estate properly. There could be a legal reason for the creditors to ask the estate to be reopened.
Can you respond after the estate has been closed?
There is a statutory period of time during which you may respond to notice of the probating of an estate. Once the estate has been probated and closed it is too late.
If an estate is closed and two years later the deceased comes into money what happens to that money?
The estate would need to be reopened and the funds would pass according to the terms of the will or by the laws of intestacy if there was no will. A fiduciary would need to be appointed to represent the estate and distribute the funds.
You have concluded all of your duties as the Independent Executor of an estate and you need to know How do you terminate the estate and your fiduciary relationship?
Generally an estate is closed by filing the final account for allowance. Once the final account is allowed the estate is closed.
Once an estate is closed and the beneficaries are equally deeded the house. Can the exuctrix take money from the sale proceeds to pay other beneficaries not paid before the estate was closed?
if the house is sold can that money be divided before the total estate is closed
