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How do you name a beneficiary of real estate in a living trust?
Wiki User
∙ 13y ago
You consult with an attorney who specializes in trust law in your state. Trust law is one on the most complex areas of law. Errors made by non-professionals can be costly to correct later if they can be corrected. Corrections to revocable trusts once the grantor had died must be made by a judge. Corrections cannot be made to irrevocable trusts.
Wiki User
∙ 13y ago
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What is 25 E bond from 1979 worth now?
Call your local bank. If it is in your name or your are the beneficiary, they can or should be able to cash it for you.
What is the difference between a will and trust?
I have been living with a man for almost 20 yrs. At my request and many upsetting episodes. He agreed to buy me a house with his credit. My was not good enough. I invested my money for a down payment. Money I had in cd's at the bank. When I got this insurance settlement. The cd's were put in both our names. I do not know why they did that. Well, he promised if I used the cd's money for a down payment, he would give a paper that if he died the house was mine. He changed his mind. Now, he has a will drawn up with his lawyer, that I can have the house when he dies. I was going to pay the fee for this. But, after thinking it over. I know that he can change his will anytime he wants too.What would be the best solution, just in case he did die for me to keep the house? and his children be involved with the house. Thanks. Maria
If you had your deceased parents stock switched into the name of the estate do you still have to pay capital gain or loss on it how do you determine that when you dont know how much they bought it for?
This is actually one of the biggest holes in the US tax law. The estate gets the stock at the value at the time of the transfer to the estate's name. The Capital gains are only on what occurred once it was transferred.
When real estate is in the name of the children of a deceased parent how can property be sold?
Only the guardian can sell, or the children when they are 18+.
What does initials PE stand for after a real estate agent's name?
I guess PE for Real estate means Private Equity, though I'm not sure. Private Equity is an institution who raise funds which purpose is to acquire equity ownership in companies.
What happens when a pod beneficiary dies before the account owner dies?
The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.
Can a beneficiary of an IRA name a successor beneficiary in the state of Colorado?
No. A beneficiary has no authority to name a beneficiary of another's property. Only the principal can name the beneficiary. Generally, if the primary beneficiary declines to accept the inheritance then the gift will lapse and the property will be included in the estate.
Who collects the life insurance if the policy holder and beneficiary have died?
If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do). Note that this is a fairly unusual situation, because normally when a beneficiary dies, a new beneficiary is named. There is no reason to allow the policy to have no living beneficiary, unless the insured and the beneficiary happen to die at about the same time, and there is no time to name a new beneficiary.
Can a beneficiary to property remove their name?
A beneficiary does not have to accept an inheritance. Their share or that item will go back to the estate to be distributed in another manor.
Can a will be used to name a beneficiary on a life insurance policy?
A will cannot insert a name or change the name of a beneficiary of a will. However, you can have an insurance policy made payable to the estate, then give the proceeds of the policy to a named beneficiary. Problem here is that the policy proceeds run through the estate and become subject to debts and administration expenses and perhaps taxes, whereas they would not be if a beneficiary were named in the policy.
Is it illegal for an executor to withhold the name of the lawyer handling the estate from a named beneficiary?
yes
Can a trust property be refinanced by a sibling to pay off another in California?
Upon contract a beneficiary and secondary beneficiary are chosen. A sibling can refinance only if their name is initially included on the trust property's contract. If they are not secondary beneficiary, it is very difficult but not impossible if primary beneficiary can not comply.
Can I name myself as the beneficiary of my own life insurance?
Other than naming a Trust in your name as the beneficiary, writing a life policy in your own name wouldn't be written. If naming yourself as the benficiary, the death benefit would be paid into your estate. An insurance company would not write a policy in this manner since an "insurable interest" is required prior to binding a life policy.
What happens if someone is already dead when they are a beneficiary?
The answer depends upon the laws of the state in which the decent died. It also depends upon what the will says. Some will specifically state what happens in such a case and those wishes are to be followed. In absence of specific directions or in absence of a will state laws control. Different states might have different rules. As an example, in NJ, there are several rules dealing with this issue. First, if the deceased beneficiary is a child of a grandparent common to the decedent and the beneficiary, then the gift the deceased beneficiary would have received had he/she lived goes to the issue (children and grandchildren) of the beneficiary. It does not get distributed as part of the deceased beneficiary's estate. If the beneficiary and the decedent have no common grandparent then the gift lapses and it goes back into the estate to be distributed according to the will most likely as part of the residuary estate. I trust that that is perfectly unintelligible.
Is life insurance exempt from being claimed for bills in an estate?
STILL ONE OF THE GREATES BENEFITS AVAILABLE: Life insurance with a named beneficiary is paid outside the estate, directly to that beneficiary. It is not subject to any other claims by anyone involving the decedent. (It is also not taxed). Unfortunately, some people name themselves or their estate (which is the same) as the beneficiary. Then it simply becomes another asset of the estate to be taxed, and distributed after handling the claims against the estate.
Do beneficiary names need to be on a deed that is in the name of the trust?
No. If the trust was created to hold the real property then the trustee of the trust will be listed as the owner. If the beneficiaries are listed in a deed as the owners the property will no longer be held in trust. The property must be held in the name of the trust OR the name of the beneficiaries of the trust as individuals.
What kind of insurance policies are subject to executor's fees?
Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.Insurance policies owned by the decedent that do not name a beneficiary, those made payable to the decedent or to the estate are probate assets and thus subject to the executor's fee.
