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If Life Insurance policies are not part of a deceased's estate should an Executor probate an estate that is worth less than the legal fees the estate will incur to probate?
Wiki User
∙ 16y ago
If there is no real property to convey, some states have a short form set of documents that reduce the time and cost of probate. And if there are debts owed by the deceased, it would be a good thing to probate it and get the debts resolved.
Wiki User
∙ 16y ago
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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.
What is a way to legally appoint an executor if will was lost so you can free up deceaseds accounts?
The estate would be opened up in the normal way by application to the probate court. They will appoint an executor and issue of Letter of Authorization. That allows the executor to access the accounts.
Is the beneficiary also the executor of the life insurance?
No. They are separate. Beneficiaries are those who are entitled to an inheritance. The Executor carries out the will. * A person(s) named as a beneficiary on a life insurance policy receives the money directly from the insurer. Such policies are not subject to probate procedure.
Can one be an executor of probate but not the estate?
There is no executor of probate. The executor of the estate executes the will and probates the estate.
Do life insurance policies have to be listed in probate?
No if there is a surviving spouse and the children are grown
Does the estate pay tax on life insurance?
In most cases no! But in the estate it will be subject to probate charges and other fees such as executor.
Can the beneficiary on a life insurance policy be changed by the executor?
No, the beneficiary of a life insurance cannot be changed by the executor unless he's the owner of the policy. The proceeds of a life insurance policy, unless the benefciary of the policy is the estate, are not subject to any conditions of the will. It is outside of probate.
Can the executor of the estate appoint himself as power of attorney?
No, he cannot. He needs to be appointed the executor by the probate court. Until then he has no authority whatsoever.No, he cannot. He needs to be appointed the executor by the probate court. Until then he has no authority whatsoever.No, he cannot. He needs to be appointed the executor by the probate court. Until then he has no authority whatsoever.No, he cannot. He needs to be appointed the executor by the probate court. Until then he has no authority whatsoever.
When an executor of a will dies who replaces them to find lawyer for probate?
The court will appoint a new executor. Consult a probate attorney and they will help you get it resolved.
Can an executor remove an heir in Pennsylvania?
No. An executor has no authority until they have been appointed by the probate court. An executor cannot "remove" an heir. They must follow the provisions in the will.No. An executor has no authority until they have been appointed by the probate court. An executor cannot "remove" an heir. They must follow the provisions in the will.No. An executor has no authority until they have been appointed by the probate court. An executor cannot "remove" an heir. They must follow the provisions in the will.No. An executor has no authority until they have been appointed by the probate court. An executor cannot "remove" an heir. They must follow the provisions in the will.
What can you do if you think that the probate of an estate has taken to long to settle?
File a motion with the probate court asking the court to compel the executor to complete the probating of the estate.File a motion with the probate court asking the court to compel the executor to complete the probating of the estate.File a motion with the probate court asking the court to compel the executor to complete the probating of the estate.File a motion with the probate court asking the court to compel the executor to complete the probating of the estate.
What to do when person named as executor in a will has not been sent a copy?
The original must be presented to the probate court to be examined and allowed along with a petition by the named executor to be appointed the executor. In order to commence the probate proceeding the original must be turned over to the executor. You should consult with an attorney who specializes in probate.
