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Wills are often a source of contention amongst the beneficiaries. However, there are many reasons the gifts may be unequal and there is no set rule since property division by a will is the prerogative of the testator and it can be affected by many factors such as:
- One child may have been more helpful to a parent and after death the parent wants to reward that child.
- One child may be more fortunate in their life through their superior abilities, career opportunities or marriage and they may not need as much as another child.
- One child may have been given more during the life of the decedent.
- One child may have been more of a problem during the parent's life and their behavior has resulted in less of an inheritance.
If a parent dies without a will their property will be distributed according the the state laws of intestacy. You can check the laws in your state at the related question link.
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If one heir owes a small debt to an estate should the debt be paid before the estate is divided or should the debt be deducted from that beneficiary's share?
You should ask the attorney who is handling the estate. If it is a small estate there may not be any tax consequences either way.
Who is responsible for a debt if the credit card company of the deceased turns the unpaid balance to the collection agency for the family to pay but there is no spouse or children?
If there is no inheirator of the deceased's estate no one is responsible. However if you have inheireted the decease estate and accepted that then you also have to accept the debt. Payment of debt should come from the estate of the deceased. If the estate of the deceased is without sufficient resources to pay the debts and the deceased does not have joint obligation with anyone, the total of debt should be added together and the estate should be divided equally among the debts. If anything is left after paying all debts of the deceased, the remaining resources can be divided among suvivors or beneficiaries.
What are the terms for the two ways in which the testator can distribute the estate among the lineal descendants?
The two terms are per stirpes and per capita. Per stirpes means the estate is divided among branches of the family based on equal shares per branch, while per capita means the estate is divided equally among all lineal descendants regardless of their branch in the family tree.
Does an executor have full control of how the estate is divided if there is no will?
The executor has no control over how the estate is divided. Each state has laws on how the property is divided when there is no will.
Family Estate Planner?
form_title=Hire a Family Estate Planner form_header=A family estate planner focuses on the specific needs of the family while planning the future of the estate. Have you ever had your estate apraised?= () Yes () No How many members are in your family?=_ What are the future needs of the estate?=_
How do you distribute if one heir pays cash in to the estate?
It depends on why the heir paid cash to the estate. If it was a loan to the estate, it should be paid back first. If it was to pay the estate back for a loan, it is divided up like the rest of the assets.
Where can you find out if you are a benificary of your deceased father?
If he had a lawyer there may be a will and you should be able to find out from the lawyer if you are included. The Executor of his estate may also have the will and you should be able to see a copy or at least find out. Otherwise his estate will go to probate court and the judge will determine how the estate is divided.
When was McCook Family Estate created?
McCook Family Estate was created in 1906.
In a family tree can anyone be an heir to the deceased's estate?
The will should specify who should inherit. If there is no will, the state will have a law that specifies. Just because someone is related does not mean they are entitled to a portion of the estate.
Can a father choose who to leave the estate to?
If they are the sole possessor, yes, they have the absolute right to choose who gets it next by explicitly stating so. However, if they do not define the heir to the estate (via a will or otherwise) then the estate is divided amongst all immediate family according to law.
Should family pay for any bills in my FATHERS name?
The father's estate is responsible for the bills.
Can an undivided interest of a half section of farmland that's in life estate be divided?
Even if divided it would remain subject to the life estate.
