0
How does the attorney or executor split the money of the deceased that did not leave a beneficiary name?
Wiki User
∙ 9y ago
They will do it according to the law. Each state or jurisdiction has a law that specifies how it is distributed.
Wiki User
∙ 9y ago
Wiki User
∙ 10y agoThat is their job as executor. Any distribution has to be approved by the court.
Wiki User
∙ 14y agoThe executor of the estate is responsible. They have to inventory and value the estate. Then they have to resolve all the debts. Then they can divide the money up for the beneficiaries.
Add your answer:
Earn +20 pts
In NJ can an Friend Attorney or his wife be the writer attorney executor and be the beneficiary of a greater than equal amount of the estate?
That is a terrible idea. Having the same attorney write the will, act as executor and be named beneficiary would leave the will wide open for challenge. You should have an objective third party draft the will and follow their advice about naming the executor.
If your spouse leave you executor and benificary will you inherit everything that he owned?
The exector has a duty to execute the will. One of the first things is to value the estate and determine what the debts of the deceased are. Once the debts of the deceased are discharged, the remainder will go to the sole beneficiary.
In the state of Virginia can an executor also be witness to and beneficiary of a will?
Being named the executor and the beneficiary, and then signing as the witness would leave the will vulnerable to challenges. A beneficiary is often named as executor in a last will. Generally, you should not be a witness or notary of any written instrument from which you will benefit. However, in Virginia it may be legal according to the following section: § 64.1-51. Interested persons as competent witnesses. No person shall be incompetent to testify for or against the will solely by reason of any interest in the will or the estate of the testator. You should check with an attorney in Virginia who specializes in probate.
Can a executor ask a beneficiary to move out of the house?
Yes, they can ask them to move out. The property belongs to the estate. The executor can sell the property or transfer its ownership as directed by the will or the court.
How can you avoid probate when you voluntarily foreclose on the home of your deceased mother who did leave a will?
When your mother died, the executor took her place. The executor may not act without approval of the probate court. Your forclosure action must be against your mother's estate, as she is deceased, there you must go to probate.
Can I remove myself as a beneficiary in my deceased fathers trust?
Yes, you are fully entitled to decline to receive the benefits. There are a few instances where it might make tax sense to do so. Or to leave more for those that need it more. Consult a probate attorney, but there shouldn't be an issue.
Grandmother left her property to your father. He predeceased her and she didn't change her will before she died. Who inherits the property you or your father's sister?
You need to consult with an attorney who can review your grandmother's will. There are different ways a testator can arrange to leave property. The possibility that a beneficiary may predecease the testator should be addressed in the will. If the gift is made per stirpes, the gift passes to the deceased beneficiary's children. If the gift is made per capita, it passes to the siblings of the deceased beneficiary. If the will is silent you need legal advice on how the situation will be addressed by the law in your state.
What if your fathers girlfriend leave the estate to the father but father dies before policy holder does the estate got to children of the father?
If the girlfriend is still alive then she can change her beneficiary. If she died and didn't change her beneficiary then you may have a claim if her estate went to your father. You should speak to an attorney. You refer to a "policy holder" in your question as well as an "estate". If the subject is a life insurance policy and your father was the beneficiary but was deceased when the insured died then be aware that the girlfriend probably named a contingent beneficiary on her policy.
Can the executor of an estate also be a beneficiary?
Yes. It is common for a beneficiary to be also named the executor. The contents of a Will remain private until the death of the testator so the person who is named as executor may not be known until the Will is read. As the role of an executor is merely to distribute the assets of the deceased in accordance with the terms of the Will of the deceased, an executor will have no say in how the Will is prepared or to whom the assets should be distributed. Therefore, there is no legal reason why an executor should not be named as a beneficiary in a Will. In fact it is quite often preferable for a family member (and beneficiary) to act in the role of executor. That arrangement is frequently used in wills executed by husband and wife or life partners where each leaves the entire estate to the other and names the other as the executor.
Who figures out what each beneficiary will get and writes out the distribution checks?
Generally the person who held the estate (the currently dead person) will appoint an executor of their estate, or they can leave that position vacant and simply decree who gets what and let the people involved take their portions out as they're instructed.Usually, the executor of the estate is either a trusted attorney or a trusted person to the recently deceased.In cases where there is no executor, the will is still binding and it's up to the parties involved to conform to and settle disputes, with litigation possible if they cannot come to agreement on those disputes.
Are children in the state of Maryland responsible to pay a debt to a nursing care facility of a parent who is deceased and has no estate but did leave beneficiary funds in retirement system?
If funds are noy part of the estate then no
Can you leave anything to the executor of your will?
Yes, in many cases the executor is a family member and heir.
