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Does the law in wi. automatically give a percentage of the estate to the administrator of the will?
Wiki User
∙ 13y ago
"The personal representative has a right to reimbursement for expenses incurred in managing and settling the estate, and for time spent carrying out those duties. Payment for the latter may equal 2 percent of the inventory value of the estate assets (less any mortgages or liens). Or it may be some other amount the decedent specified, or the beneficiaries agreed upon, or the court approved. If the personal representative is derelict in carrying out duties, the court may reduce or deny compensation. The court also must approve expenses and attorney fees in formal probate proceedings."
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Wiki User
∙ 13y ago
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Is the executor entitled to the whole estate?
That depends on the wording of the will. Being executor does not automatically give you a right to the estate.
If the son is the aministrator of the estate does the spouse still have rights to the stocks and bonds?
The administrator of an estate simply takes care of the details. When there is an administrator, he decides how the estate will be divided. The spouse has no rights to the stocks and bonds. The spouse has rights to a percent of the estate as determined by the law, will, or probate judge. The administrator can decide to give the spouse only stocks, only bonds, or only cash. The administrator can sell everything and divide the money. That is the way it works.
Can a bank be sued when it gives a mortgage loan to an administrator of an estate without consent from the beneficiary what are the banks defenses?
To me it sounds unlikely that a bank would give a new mortgage to an estate. How would the bank get its interest paid by a dead person? Did the administrator lie when he/she asked for the mortgage?
What happens to the administrator of an estate with creditors?
The Administrator must file the proper notices that the estate has been filed to give the creditors the opportunity to file claims against the estate. The estate is responsible for the debts of the deceased. Claims by creditors must be paid before any assets can be distributed to the heirs-at-law. There is a statutory schedule by which creditors must be paid. If there are not enough assets to pay the creditors the estate is declared insolvent. The adminstration of an estate is a legal process that must be done according to the law. If the appointed Administrator doesn't know how to carry out their duties according to the law they should hire an attorney to supervise the probate process. Distribution of assets before creditors are paid can leave the Administrator exposed to personal liability.
Does the adm of an estate need a letter from an attorney to acquire bank records for the estate?
The court appointed Administrator was issued Letters of Administration by the court. The letters give you the authority to obtain bank records and access accounts.
If i make my stepmom adiministratrix of my dad's estate and she's sueing for wrongful death will i be entitled to any money if she win's and can she refuse to give me any?
First let's clear up the basics. The court appoints the Administrator and the court generally favors the surviving spouse. The Administrator will settle the estate under the supervision of the court and according to the state probate code. The answer depends on how the law suit is filed. It can be filed by the surviving spouse as an individual or by the Administrator of the estate. If filed by the estate, the Administrator will represent the estate in the court action. Any award will be paid to the estate and will be distributed as intestate property according to the intestacy laws in your state. You can check your state at the related question link provided below. You should consult with an attorney who can review this situation and explain your rights and your options.
I would like to give administrator rights to another account on the same computer to download something on the computer without giving administrator rights how can i do this?
That's a contradiction. You can't "give administrator rights but not give administrator rights."
Can a real estate broker give a percentage of his commission at closing to a non real estate license?
The answer to this depends on the state in which you live. Often times a broker will give a small percentage of commissions to an assistant for duties performed and that is fine. But in some states a license is required to received an money associated with a commission.
What is grant of representation?
When someone dies, the Probate Court issues a legal document to the Executor or Administrator to give them authority to dispose of the estate. The court issues Letters Testamentary to an Executor and Letters of Administration to an Administrator. That action by the court is formally known as the grant of representation.
If you are a personal representative of an estate does it give the personal representative a right to move on the property if owned by a joint owner?
No. Ownership of joint property passes automatically to the surviving joint tenant and does not become part of a decedent's estate.
Why does an administrator want her final settlement in probate of an estate to be laid over for 30 days for exceptions And does this action hold up the distribution of the estate monies?
So that they can give another 30 days for any debtors or beneficiaries to come forward. Yes, waiting 30 days does delay distribution.
How do you you challenge the administrator of the estate if you think he is bleeding the estate dry before the beneficiaries are paid?
The best ... and only ... advice we can give here on this is "contact an attorney." The procedure is going to depend on the jurisdiction, and you're almost certainly going to need an attorney before this gets resolved anyway. If the administrator (do you mean executor?) is a family member or friend you might talk to them first; you might be able to resolve this amicably (maybe there are very good reasons for what you perceive from the outside as "bleeding the estate dry"). If not, it's lawyer time.
