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If a family has real estate property in a living trust will this property be protected from medical bills of one family member?
Wiki User
∙ 15y ago
If the trust instrument was properly drafted then title to the property is in the trustee and should not be reachable by a creditor of one of the beneficiaries.
Wiki User
∙ 15y ago
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Can inherited property be sold to nonfamily members?
Yes, the estate can sell the property to non-family members.
How can a family member buy the house after the single home owner dies?
The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.
Where is the Vanderbilt estate?
The Biltmore Mansion, which was the property of the Vanderbilt family, is in Asheville NC.
If there is no money in the estate of deceased family member who is responsible for the credit card debt of the deceased?
If there is no cash in the estate, other personal property OR real property, the estate is said to be insolvent and the creditors are out of luck. However, the sole debts of the decedent must be paid from any property, real or personal, before that property can be distributed to the heirs.
Where can a family find a farm or property for sale in Spain?
A family can find farm or property sales in Spain at: Undiscovered Spain, Rusticom, Olive Houses, Property 24, Kyero, and Andalucia Country Real Estate.
Is a surviving family out of state responsible for medical expenses?
No, but the estate the deceased left may be responsible for these expenses.
Who is responsible for homeowners insurance the beneficiary of the trust or the person with a life estate interest in the property?
Q. Who is responsible for homeowners insurance the beneficiary of the trust or the person with a life estate interest in the property? A. If the property is a (personal residence, family farm, rental property or even a vacation property) held in trust.Regardless of a life estate for a named beneficiary. The property tax payable would be the responsibility of the owner of the property listed on the property deed. In this case it appears that the owner of the property is the trust. Therefore the trust would be responsible for the tax. The remainderman beneficiary nor the current beneficiary enjoying a life estate in the property would owe the property tax.
Can heir sell family proerty without the rest of the family?
An heir may sell property by deed if the estate has been duly probated and the heir acquired all the interest in the property under the will. The estate must be probated in order for title to the real estate to pass legally to the heirs. If the estate has not been probated the deed would be null. If the estate was probated and the heir did not inherit a 100% interest then her/his deed would only convey the proportionate interest they own.
If a will was never carried out and the estate never taken care of what happens to the family mentioned in the will?
They don't get what the will specifies. Property transfers won't occur and homes and property will not be able to be properly sold. The state or federal government can step in and claim estate taxes.
What is the responsibility of the estate executor regarding a decedent's mortgage?
The estate is responsible for the debts of the decedent. If the family wants to keep the property the mortgage must be paid or the bank will take possession by foreclosure.
Can the executrix collect her admisitrative fees from inherited property that was deeded to heirs prior to death?
Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.
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?=_
