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The laws vary from state to state, but in general, no, it is your spouse that inherits.
They are a part of the estate. Whether they are residual or not will depend on whether the CDs have a beneficiary named on them or are specifically left to someone.
The residuary estate is that part of the decedent's estate that remains after all debts, expenses, taxes, and specific bequests have been satisfied. Therefore, you have a half share in anything that is left over.
Assets that are not specifically devised, a devise that fails for some reason and assets that come into the estate after the death of the testator, such as an award in a lawsuit, make up the residuary estate. For example, if the testator simply left all her estate to be equally shared by her three children, they will share the entire residuary estate. She could also leave her real estate to one daughter and direct that all the rest of her estate be shared by her other two daughters. In that case, the real estate is not part of the residuary.
Well, if you're exceptionally stupid, you go on the internet and take the advice of some yahoo there, trusting that "if it's on the internet, it must be true."If you have some moderate amount of sense, though, you consult a tax preparer or attorney.That said, in the US bequests are handled differently from income as far as taxes are concerned. If you haven't been required to file in previous years, you probably won't be required to file because of the estate either.If you were supposed to file in previous years and you just didn't do it, that's eventually going to catch up to you, and that attorney is looking like a better idea every moment.
The spouse will be entitled to a portion, perhaps all, of an estate if there is no will.
If the person left a Will the Will will identify who the administrator (executor) of the estate is to be - only this person can anministor the estate. If there is no Will then the state will appoint an administrator (there will be country specific laws relating to how this happens).
Each estate must be separately administered. Fathers creditors will need to be paid from father's estate, necessary tax forms will be filed. Father's estate will need to be distributed according to the father's will, i.e., the residual to the surviving spouse. The estate of the spouse is then probated by the administrator of the wife's estate, as required by the wife's creditors and heirs.
Each estate must be separately administered. Fathers creditors will need to be paid from father's estate, necessary tax forms will be filed. Father's estate will need to be distributed according to the father's will, i.e., the residual to the surviving spouse. The estate of the spouse is then probated by the administrator of the wife's estate, as required by the wife's creditors and heirs.
The estate can be sold or rejected by the spouse. If rejected or declined, it will pass to the heirs next in line of succession or designated by the will.
The executor or personal representative named in the will is responsible for registering property left in a will. They are responsible for transferring the assets from the deceased owner to the intended beneficiaries according to the wishes outlined in the will.
They need to close the estate. This is much easier when the spouse inherits everything.
In whatever way it was provided for. I am assuming that the deceased left everything to his or her spouse and now the spouse has died. If he or she had a will, trust, or other way to distribute the estate then it would be distributed according to his or her wishes. If not, then the estate would go through intestacy
The estate pays all debts first and then distributes the assets. So yes they can.
That will depend on what the will says. In most cases, the bulk of the of estate would be expected to go to the spouse.
The estate is responsible for all the debts of the deceased in New Mexico. The spouse will only inherit what is left after the debts are resolved.
Many states give a surviving spouse a right to inherit a portion of their late spouse's estate under the doctrine of election, even if the decedent left the property to someone else by will. You need to check your particular state.Many states give a surviving spouse a right to inherit a portion of their late spouse's estate under the doctrine of election, even if the decedent left the property to someone else by will. You need to check your particular state.Many states give a surviving spouse a right to inherit a portion of their late spouse's estate under the doctrine of election, even if the decedent left the property to someone else by will. You need to check your particular state.Many states give a surviving spouse a right to inherit a portion of their late spouse's estate under the doctrine of election, even if the decedent left the property to someone else by will. You need to check your particular state.