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Complex estates can take many years to sort out and close. There is no set time frame for closing an estate.
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∙ 10y ago
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Can a executor get paid their fee if the estate is not approved but its closed?
Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.
The executor of an estate died. An alternate executrix was named in the will. Does the estate become part of the executor's estate?
No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.
What happens to the remaining assets in a closed estate?
If any undistributed assets remain in the estate then the estate must be reopened and an estate representative must be appointed by the court.
Does the Estate lawyer have to be paid before the any inheritance can be dispursed?
All the debts of the estate must be resolved before it can be closed. The overall condition of the estate must be such that it is solvent before distributions can be made.
When must you file an Estate Form 706?
Estate Form 706 should be completed following a person's death. The executor of the estate should file the Estate Form 706 within 9 months after the decedent's death.
When the administration is closed can the administrator sell property?
No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.
What do you do with an unexpected asset after estate is closed?
The estate must be re-opened and the newly discovered property distributed according to the terms of the will or according to the state laws of intestacy.
Are the heirs responsible for tax on IRA from deceased parents account?
The estate will be responsible for any taxes. It must be resolved before the estate can be closed and anything distributed.
Is executor's fee in New Jersey before the settlement of claims against the estate or after?
It is a debt against the estate. It cannot be resolved once the estate is closed. The executor must have the courts permission to collect their bill.
Is there anyway to keep your last will and testament from becoming public knowledge?
If you own property at the time of your death the will must be probated and your estate becomes a public record. There is no way you can change that process. It is the law. If you have no will (intestate) and you own property at the time of your death your estate must be probated. The court will appoint an administrator and your estate will become part of the public record. The only way to keep your business private is to do some careful estate planning so that you own no property in your own name at the time of your death. Perhaps you should discuss it with an attorney who specializes in estate planning.If you own property at the time of your death the will must be probated and your estate becomes a public record. There is no way you can change that process. It is the law. If you have no will (intestate) and you own property at the time of your death your estate must be probated. The court will appoint an administrator and your estate will become part of the public record. The only way to keep your business private is to do some careful estate planning so that you own no property in your own name at the time of your death. Perhaps you should discuss it with an attorney who specializes in estate planning.If you own property at the time of your death the will must be probated and your estate becomes a public record. There is no way you can change that process. It is the law. If you have no will (intestate) and you own property at the time of your death your estate must be probated. The court will appoint an administrator and your estate will become part of the public record. The only way to keep your business private is to do some careful estate planning so that you own no property in your own name at the time of your death. Perhaps you should discuss it with an attorney who specializes in estate planning.If you own property at the time of your death the will must be probated and your estate becomes a public record. There is no way you can change that process. It is the law. If you have no will (intestate) and you own property at the time of your death your estate must be probated. The court will appoint an administrator and your estate will become part of the public record. The only way to keep your business private is to do some careful estate planning so that you own no property in your own name at the time of your death. Perhaps you should discuss it with an attorney who specializes in estate planning.
You are a daughter and have a power of attorney to sell your parents property when your father suddenly dies?
Your POA expired upon your father's death. His estate must be probated in order for you to have the legal authority to sell the real estate.
What happens when an executor dies while administering the estate?
The court must be notified of the death and it will appoint a successor.The court must be notified of the death and it will appoint a successor.The court must be notified of the death and it will appoint a successor.The court must be notified of the death and it will appoint a successor.
