0
What else can I help you with?
Does the executor of an estate receive payment for carrying out duties to distribute proceeds of an estate in Ontario Canada?
The executor is entitled to compensation for their time and effort. The court will approve the payment at the going rate.
If a decedent has life insurance are debts paid from the life insurance proceeds?
If there is a named beneficiary the life insurance proceeds bypass probate and the beneficiary will receive the money. If none is named, the proceeds are paid over to the estate. If the proceeds are paid over to the estate the debts of the decedent must be paid before any assets can be distributed to the heirs.
Can the executor of a will receive the sale oroceeds from a residuary estate before the distribution of the estate's assets?
Yes. It is the executor who makes the distribution and then closes the estate according to the provisions of state law. Therefore the proceeds must be taken into the estate.Yes. It is the executor who makes the distribution and then closes the estate according to the provisions of state law. Therefore the proceeds must be taken into the estate.Yes. It is the executor who makes the distribution and then closes the estate according to the provisions of state law. Therefore the proceeds must be taken into the estate.Yes. It is the executor who makes the distribution and then closes the estate according to the provisions of state law. Therefore the proceeds must be taken into the estate.
What do loan proceeds cover in real estate?
What are loan proceeds
When there is no beneficiary listed on a life policy do the proceeds go to the estate?
Yes. The proceeds will become part of the taxable estate.
Would life estate holder receive proceeds from sale?
From the sale of what? The property can only be sold with the permission of the life estate holder. How much they get would depends on the deal they cut with the remainderman.
What is the fee an executor of an estate receives in British Columbia Canada?
The Executor can receive up to 5% of the estate assets, followed by 5% of the income the estate produces.
When a deceased child is made a beneficiary of an estate does the children of the deceased automatically receive the inheritance?
yes. unless the will state otherwise
How do you handle life insurance in an estate without a will?
With life insurance, it does not matter if there is or is not a will, because life insurance proceeds are paid directly to the named beneficiary and not to the estate. The named beneficiary obtains a certified death certificate and submits it to the insurance company with the appropriate application form provided by the insurance company. The estate has no rights to the proceeds and would not even be paid to the estate. The only way the estate would be involved is if all named beneficiaries had predeceased the decedent or if the policy names the estate as the beneficiary. In that case, one of the heirs as defined in that state's laws would apply to be the administrator (if there is no will) or executor (if there is a will) and receive the proceeds.
Is money from the sale of property part of the estate?
If the property was part of the estate then the proceeds are also part of the estate.
Does the executor of will have the right to give out life ins payout?
Possibly. First, if the policy states that the proceeds go to a specific named beneficiary, then the executor has no authority at all over it. In fact the executor has no right to even collect it for that beneficiary. Second, if the policy is payable to the estate, then the proceeds are to be distributed according to the terms of the will, not his own choices. Sometimes insurance is payable to an estate if the decedent names his estate as the beneficiary (highly unlikely) or if the named beneficiaries hav predeceased and there is no one left to receive the proceeds (it does happen but rarely).
How much money will I receive from the sale of my house after the proceeds are split?
The amount of money you will receive from the sale of your house after the proceeds are split depends on various factors such as the selling price, any outstanding mortgage balance, closing costs, and any other fees or expenses. It is important to consult with a real estate agent or financial advisor to get a more accurate estimate of the final amount you will receive.
