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The wording of the will shall specify. If there is no will, the intestacy laws will apply.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoYou distribute according to the will. If there is no will the intestacy law will specify.
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How do you divide personal assets equally when administering an estate?
That is one of the challenges of being the executor. The estate has to be inventoried and valued. There are actually software programs that can help with this.
How do you divide an estate when two of three heirs owe money to the estate?
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
How does an estate divide benefits in NC if a citizen died without a will?
The legal term is 'intestate.' It will be up to the Probate Court Magistrate or Judge as to how the estate is divided and among whom.
How do you divide buy and deed a portion of property?
You hire an attorney who specializes in real estate law.You hire an attorney who specializes in real estate law.You hire an attorney who specializes in real estate law.You hire an attorney who specializes in real estate law.
What do you have to do to get your father's house put into your name if he passed without a will?
Open an estate with the probate court. You will then be able to settle all open accounts and satisfy the debtors and then divide the remaining assets of the estate.
Use the word 'equity' in a sentence?
Prompted by considerations of equity, the father decided to divide his estate equally among his children.
When a person dies intestate and their son in poa can he take the entire estate and not divide with siblings?
No. The Power of Attorney expires on the death of the grantor.
How do you write a sentence with the word setback?
the word estate has other neanings besides the one given in the example sentence. write a definition for the word estate based on the following stntenece. a daya after the man´s deathonis relatives began to divide up his estate. answers key
How long do siblings have to sort divide remove estate items from the estate house that was puchased by another sibling?
That would be up to the new owner of the property. You need to agree on a time frame for removal of personal property from the premises.
If four siblings inherit a home and three want to share it do they have to buy out the fourth?
Yes, they would have to buy the 4th out. Otherwise, the estate can sell the property and divide the proceeds four ways. They will also have to pay a fair market price as determined by the estate.
How do I divide mom's estate bank account between 3 credit card companies owed different amounts?
That is one of the responsibilities of the Executor. They need to propose a solution to the probate court. If the judge accepts it, the creditors will also have to accept it. The simplest way is to take the total dollars in the estate and divide it by the total debts owed. Then pay that much per dollar owed to each debtor.
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.
