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Depending on your state, there may or may not be a time limit for administering the estate. Generally speaking, the executor can take as long as they need to handle the estate. However, if the beneficiaries feel that the executor is taking an excessive amount of time, they can apply to the court for resolution of the matter.
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A process that facilitates the transfer of a decedents estate to named beneficiaries is?
The probate process.
What is the time limit to probate a will in Alabama?
After a person dies with a will and the estate is probated how long does the executor have to wait until assets are distributed to the beneficiaries?
What can beneficiaries do if executor assumes ownership of property and leaves out coexecutor and other beneficiaries?
The executor IS the owner of the property, for the purpose of probate.
Do retirement benefits need to go through probate?
No, retirement benefits typically do not go through probate. The beneficiaries have to be named on the benefits.
Can an executor give themselves interim payments before the other beneficiaries?
They may pay their fees on a regular basis. The costs must be reasonable and adhere to the probate law of the jurisdiction.
Can the beneficiaries determine the Executor compensation?
No. That is generally determined by state law in the probate code.
Does the state of Pennsylvania probate send notice to heirs?
To properly conduct probate, all natural heirs are notified. Beneficiaries named in the will are also notified.
Are life insurance benefits subject to probate in Maryland?
No. As in all states, life insurance proceeds avoid probate and flow directly to named beneficiaries.
What does it mean to expend funds when talking about a probate case?
Probate is the legal process by which a person's final debts are settled and legal title to property is formally passed from the deceased to his or her beneficiaries and heirs. There are many arguments for and against probate and its value in an estate plan.
Does a will have to be read?
No. Wills are rarely "read" to beneficiaries like you see in the movies. Most states require beneficiaries to be given notice of the probate of the will by certified mailing of a copy of the will.
Can the executrix of an estate dissolve the estate without the consent of the beneficiaries?
Certainly, as long as the court accepts the disposition of the property and the settlement of debts. Consult a probate attorney in the state in question.
Can an executor of a will take an IRA that named two persons as beneficiaries and divide it among 4 different people?
No, not unless directed to by a Court to do so.A person has a right to name -- and to exclude -- who will be beneficiaries. If I have 4 daughters, but only choose two for this role, then that is my stated wishes. The other 2 daughters have to respect what I wanted.No. An IRA with named beneficiaries does not come under the authority of the executor of the estate because it is not a probate asset. The trustee of the account will pay it directly to the named beneficiaries. That is the purpose of naming beneficiaries.
