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If a person leaves a house to someone in a will can the beneficiary move in right away or have to wait for the probate court to approve the will?
Write2LarryC
Not only does the beneficiary have to wait for the probate of the will, but will most likely have to wait until the executor is satisfied that the house does not need to be sold to pay any debts of the estate. Until administration of an estate is complete, the executor has the right to possession of all estate property, including the house. If the executor wants to, he/she can let the beneficiary in the house. But even there, the person appointed as executor has no power to allow that until the will has been probated. This is because that person has no power to act as an executor until the will is probated.
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∙ 15y ago
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Meaning of In kind probate reference?
Assets are distributed "in kind" when the asset itself is ditributed. E.g. if a decedent leaves stock to someone it is distributed in kind when title to the stock certificates is transferred from the decedent's name to the beneficiary's name.
What if a spouse dies and you may be a beneficiary to their 401k but you divorced 10 years ago are you still eligble?
IF you are still the beneficiary on file for your ex-spouse then you are legally entitled to that money. If there was an updated beneficiary that lists other people as the beneficiary then you are not. On caveat is if you are listed as the beneficiary and the ex-spouse has a will in place that leaves the account to someone else, then you are not entitled.
MY HUSBAND RECENTLY DIED. HIS WILL LEAVES HIS ENTIRE ESTATE TO ME. IS IT NECESSARY TO PROBATE HIS WILL?
Probate may be needed it would be best for you to consult a probate attorney.
What is cost basis in stock investing?
it is the amount that you initially invest. Plus and amount it costs you to invest it. Or the amount that you receive when someone leaves you an amount as a beneficiary.
When someone dies and leaves animals who has to pay until probate?
The estate is responsible for maintaining the assets of the estate. The place housing the animals has the right to place a claim on the estate for the services.
What is a alien resient surviving spouse entitled to in probate court?
Probate court is used when the dead person has a Will leaving their money or possessions to another person. If the dead person leaves something to their spouse, the spouse will receive it.
Can your children be beneficiary to your husbands estate?
Yes, if they are named in the will. Or if the will leaves the money to you or your descendants. If your husband is not their father, there is no automatic right to the property.
Can an executor be listed as a beneficiary?
Yes, and they frequently are as in the case of the standard husband and wife will, where each spouse leaves the entire estate to the other spouse and names that spouse the executor.
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.
Who is responsible for credit card bills after someone dies?
When someone dies and leaves a debt for which there is no co-debtor, the decedent's assets may be used to pay the debts. In many states, a proceeding called a "probate" is the avenue whereby the assets of the decedent are collected and either liquidated to pay debts, or if the debts have been paid, distributed to heirs.
How do you find out if some one leaves you something in a will?
Once the will has been accepted as part of the probate process it becomes a public document and available for anyone to look at.
If a homeowner dies and leaves no will and only one of the four children maintain the mortgage and the maintenance how does that person take ownership or is it up to a judge or probate court?
When a person dies intestate the distribution of assets and the payment of debts come under the jurisdiction of the state probate court. Probate laws differ in what property of the estate is exempt from seizure to pay debts. The best option would be for the involved parties to consult an attorney who is knowledgeable in the probate laws of the state where the deceased resided.
