Yes. The fund may have been in your parent's name at death in a "Payable on Death" account where your parent named a beneficiary directly with the company or bank that held the funds.
INHERITANCE is the process by which a deceased individual (especially a parent) conveys his wealth and possessions to his heirs (especially offspring). Usually involving a legal document (will or testament), the inheritance process is also referred to as "succession".
The bank will take possession of the property by foreclosure. If the mortgage is in the deceased parent's name it will not affect anyone's credit.
If they are not an account holder they are not responsible for the debt. All debts and assets and wills are handled in accordance with the state probate laws in which the deceased lived and/or owned property.
The executor of the estate is able to sell assets of the estate.
If your parent dies and there is no will, there is a legal order of inheritance. The surviving spouse is next in line, then the children.
Both parents of a deceased child have an equal right of inheritance. If one parent had custody that parent has the right to make funeral arrangements but the other parent should be consulted if possible.
Ask them, though they don't have to answer. Other than that, there isn't a way to find out. They can file it with an attorney or even with the probate court, but it isn't public until it comes up for probate after their death.
No. You have no rights in a parent's property while they are living. An inheritance comes from the property a decedent owns at the time of death. Death makes that property 'inheritable'. There is no such thing as an inheritance from a living person.
GPO inheritance
Unless there is specific evidence that documents the relationship, such as the birth certificate or a court document, there will be no possible way to inherit. If they were adopted, all rights to the biological parent have been severed, so no inheritance.
GPO inheritance
INHERITANCE is the process by which a deceased individual (especially a parent) conveys his wealth and possessions to his heirs (especially offspring). Usually involving a legal document (will or testament), the inheritance process is also referred to as "succession".
As long as the child is not a cosigner on the debt, the child is not responsible for parent's debt. The parent's estate would be responsible for the debt. Technically this could reduce the inheritance the child receives, but it is not the responsibility of the child.
no
It is certainly possible. Grandchildren can be entitled to a share of their grandparent's estate. Part of it will depend on how the will was written, or the laws for that jurisdiction. Consult a probate attorney for help!
Not applicable. You will receive nothing more than the normal amount for a child of a deceased parent.
Yes, siblings can take each other to court over a deceased parent's estate if there are disputes or disagreements regarding the distribution of assets or inheritance outlined in the parent's will. Legal guidance and representation may be necessary to navigate the probate process or any disputes that arise.