It is important to distinguish here between 'family members' and 'beneficiaries'. If the will leaves the estate to people who aren't family members, then no, those family members do not have to 'sign off' the will. If, however, family members are beneficiaries according to the will, then yes, the beneficiaries will have to sign a release once they have collected whatever amount has been left to them in the will.
No, beneficiaries do not have to agree on the appointment of an executor. The court makes the appointment. If the family doesn't want someone appointed, the court will likely assign the duties to an attorney or bank.
According to USA Today, about 80 percent of the company was sold to Iconix, while the remainder remains with the family.
Yes, the debts must be paid before the estate is divided up between beneficiaries.
Beneficiaries will be notified by the executor. That may be an attorney or a family member, or even a bank.
When the estate is opened, all possible beneficiaries should be notified. In most cases service must be made before the court will issue a letter of authority to the executor. That allows everyone to know what is going on.
Any of the beneficiaries could buy the property at full price. The court has to approve it, but I don't see any reason why they wouldn't approve a valid sale at a market value. The money goes into the estate and is then divided between the debtors and beneficiaries.
The information should be available to all family members who are the beneficiaries of the policy or are affected by the probate of the deceased person's estate. If the person withholding the information is the Executor of the estate, that person does not have the right to withhold this knowledge from the beneficiaries of the policy. Notify the probate court of this,
The beneficiaries do not have the ability to transfer property. The executor can deed the property to whomever it is being sold or distributed to. The executor can also transfer the deed to the estate while determining disposition.
Usually it depends on how the beneficiaries were stated on the policy. If she left all to the husband, then since he was the last to die, his beneficiaries would be the ones who count. But, if she died first, the contingent beneficiaries would be the next on the list. I don't know though, if the murder and suicide would affect this.
When a beneficiary dies before a testator there are two things that can happen--either the gift will lapse, meaning that it will not pass to them but will stay with the estate or the gift (in this case money) will go to the family of the now deceased beneficiary. Whether one happens over another will depend on the wording in the will and the nature of the gift
If the trust instrument was properly drafted then title to the property is in the trustee and should not be reachable by a creditor of one of the beneficiaries.
The beneficiaries are entitled to an accounting to make sure the trustee is not wasting the trust assets.
a 15 percent b 20 percent c 20 percent d over 80 percent ans c 20 percent
Yes the annuity payments are taxable income to the beneficiaries in the same way that they were taxed to the deceased taxpayer.
They do not automatically receive anything. In some cases, the executor will not have to provide information to the family. They can obtain copies of anything filed with the court.
how many percent of broken families in the philippines
In those days, a married woman gave birth some 6 to7 times. Sixty percent of medieval children died before they reached 16, half of them (30%) before reaching their first birthday. So on average a medieval family had 3 to 4 living children.
No, only the owner (generally the insured) of the insurance policy can make changes! This is not to say the he/she can not make the distant reletives beneficiaries, but the distant reletives can not change a thing, only the owner can. Where this is a legal binding contract, the named beneficiaries will be up-held if this was challenged in court. 4lifeguild
Such a situation would assume there is a trust in place. A good lawyer would suggest a interested party such as a family member.
In order to contest a will, one must have an interest in the will. That would be any beneficiary or natural heir. Most contesting is done by a family member that has been excluded from the will.
that you have had family before and you can see pictures of them. Its pretty cool to see people in your family that died before you saw them. You are lucky if you have family photos.
No Biebers family was not poor before Justin