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All persons have an estate
It may be just the clothing they are wearing but Legally there is an estate.
Ask who is the "Executor". The family and immediate Friends will know who. In most jurisdictions the Executor is required to file with the government and wait a period of time.
This person is assigned the task of winding up the deceased affairs and distributing the estate.
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Can a living estate be probated?
No. Probate is a judicial procedure that distributes the estate of a person who has died. A living estate is all the property owned by a living person.
What happens if a deceased person did not have a will and the person who is next of kin dies before the estate is settled?
Generally, the probate of the first estate would need to be completed. If the next of kin who died is the only heir and was living when the first person died then that person's estate would need to be probated.
What is meant by paid to estate on insurance claims?
The amount due was paid to the legal representative of the estate of the person who died.
What type of tax is paid left by a person who has died?
estate tax
What is the difference between and executor and conservator?
A conservator is appointed by the court to manage the estate of a living person who is incapable of managing their own affairs. An executor is appointed by the court to settle the estate of a person who died leaving a will.
How much does it cost to create an estate for someone who has died?
How much it will cost to create an estate for someone who has died will depend upon the attorney that is hired and how long it will take. It is always much easier to get an estate created before a person has died; it may take years if they have already died.
What is meant with inheritance tax in finances?
Inheritance tax is tax that is paid with regard to the estate of a person who has died. In general language use, the tax may be paid by the person who inherits from the estate or it may be charged to the estate of the person who has died. Inheritance tax is something that is not beneficial and thus planning is done to try to minimize its effect.
Are extended family responsible for debts of a person who died with no Will in California?
No, the estate is responsible for the debts, not the family. Even without a will, an estate can be opened.
Do you file to become administor of an estate in the state you live in or where the person died?
You file where the decedent died and owned property.
Can you get the back pay that is owed to the deceased person if you are the power of attorney?
No. Once the principal has died the POA is expired. That is a task for an estate representative.No. Once the principal has died the POA is expired. That is a task for an estate representative.No. Once the principal has died the POA is expired. That is a task for an estate representative.No. Once the principal has died the POA is expired. That is a task for an estate representative.
How much would it cost to open an estate for someone who has died?
How much it would cost to open an estate for someone that has died will depend upon the attorney that you hire. It is very hard to open an estate after someone has died. Estates should be started before a person dies.
If more than one poa is on a estate can one break it?
A Power of Attorney is extinguished when the principal has died. A POA is not connected to a person's estate. An executor or administrator has the authority to handle a person's estate and they can only be appointed by a probate court.
