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What else can I help you with?
Does inheriting my deceased son's IRA mean I need to set up an estate?
That will depend on how the IRA was set up. It might not be required if your are the listed beneficiary of the IRA.
What happens if the estate and money left in a will of a deceased is in percentage?
In fact, this is how most wills are set up. They pay out a percentage of the estate. For example, if the estate was worth $100,000.00 and a beneficiary was to receive 15% of the estate, they would receive $15,000.00.
What are the procedures to collect a debt of a deceased person when there was no will and no estate has been set up?
Debts are one of the primary reasons someone should open an estate. A debtor can ask the court to set up an estate to handle such things. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
When to set up an estate?
An estate should be set up as soon as possible. Any one can pass on anytime and the estate needs to be set up.
If a deceased paid no business or personal taxes will that come up in probate?
In most cases that will be a responsibility of the estate. The executor is supposed to file taxes for the deceased and the estate.
What assets are included in deceased estate?
A decedent's estate is made up of any property they owned at the time of death.
In the state of Texas if a parent dies with no will no estate real estate are the children liable for credit card debt or outstanding medical bills?
Only if they guaranteed the bills or debts. The estate needs to be set up to handle the debts. If there are no assets in the estate, it can close the debts.
Who pays in New York my deceased sons credit card bill?
Send them a copy of the death certificate letting them know that there will be no estate set up and consider it a closed matter.
Which adult child takes over deceased parents home when one has paid property tax for 7 years but both lived with parent?
The only way to legally take over your parents house is by a deed, Will or through the state laws of intestacy. If your parent has died their estate must be probated.
What are the procedures to collect a debt of a deceased person when no estate has been set up?
Debts are one of the primary reasons someone should open an estate. Those that are owed money can ask the court to establish an estate. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
When a death in the family occurs does the family qualify for the deceased's final work pay and vacation pay?
The deceased's ESTATE is due ALL pay and benefits that are owed up to the time of the death. The 'executor' of the estate may have to approach the deceased's employer to collect these benefits however.
Do an estate have to be set up if you do not have a benefiary?
The state will set up the estate, since there are no beneficiaries, the state will take over all property.
