0
What else can I help you with?
Do the beneficiaries of an estate have to sign an documents?
It depends on the laws in that state. In some cases for an unsupervised estate, all beneficiaries have to sign that they agree. Other than that, there is seldom anything they need to sign.
Who pays hospital bills of the deceased father are the beneficiaries of the life insurance responsible?
The estate or actually the executor of the estate is responsible for medical and other expenses as part of the distribution of the estate. After all debts have been paid from the proceeds of liquidation of the estate only then can funds be distributed to beneficiaries. The executor of the estate and beneficiaries of the estate need not pay anything out of their own pocket if the estate cannot pay for the entire bill. But if the expenses are not paid the hospital will certainly come after the estate and any monies that were distributed. Check the terms of the life insurance. If payment is assigned directly to the beneficiaries you may not need disburse funds to the hospital. On the other hand, if the life insurance goes to the estate, the hospital must be paid first if you don't want to end up in court.
Is land sold need to be reported on taxes from an estate?
Yes someone is supposed to report the sale of the land from the estate and if pay any income taxes that may be due on the sale of the land from the estate. The trustee or administrator of the estate or the beneficiaries of the estate.
Can the beneficiaries remove an executor of an estate for refusing to supply accounting?
It is possible. You need to contact an attorney to file a motion with the court.
How long after probate to pay beneficiaries?
Depending on your state, there may or may not be a time limit for administering the estate. Generally speaking, the executor can take as long as they need to handle the estate. However, if the beneficiaries feel that the executor is taking an excessive amount of time, they can apply to the court for resolution of the matter.
How to fill out a small estate affidavit?
To fill out a small estate affidavit, you typically need to provide information about the deceased person, their assets, and their beneficiaries. This may include details such as the value of the estate, a list of assets and debts, and the names of beneficiaries. You may also need to sign the affidavit in front of a notary public. It's important to follow the specific instructions provided by your state or jurisdiction when completing the affidavit.
Who needs to be contacted when a person dies?
All possible debtors need to be contacted. All natural heirs and any beneficiaries of the will also need to be notified. These are the responsibility of the estate.
Can a beneficiary forfeit an inheritance if they want their share to go to the other 3 beneficiaries instead?
Generally a beneficiary can file a disclaimer with the court. State laws vary so you need to check the laws of your state. In some states where real estate is part of the estate assets you need to sign a deed transferring your interest to the other beneficiaries. An example is provided at the link below.
If there are two beneficiaries one dies do my parents need to change their will?
They don't have to change the will, but it is a good ideal. If both beneficiaries die, then it is considered 'intestate' without alternates, and state law will determine the inheritors of the estate without indication from the deceased about their wishes.
When does an estate attorney send a formal accounting to the beneficiaries?
Generally, when the attorney is getting ready to close the estate she/he will file a final account with the court. The beneficiaries should receive some form of assent to the account and/or release of demands along with a copy of the account. Each will need to sign the assent/release and send it back to the attorney. The attorney will file the account for allowance along with the assents/releases. When the final account has been allowed the estate is closed.
Is a beneficiary required to accept any form of payment the trustee mandates from an trust?
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
How do I formally state my unwillingness to serve as executor of an estate?
In the UK: Assuming the person whose will it is has already passed away you need to create (or have created) a deed of renunciation and hand that to the beneficiaries or other executors.
