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when opening an estate there are a few steps to follow:
-if not already done , organize and prepare an alfadavit of execussion
-you will need an application grant
-proof of death
-fee's
-if securcity is required, bond documents.
1.the first thing is to advertise the death in the royal gazette , this is a law magazine which lawyers and bankers use.
2. send notices to interseted people, people names in will , satatutory interersts , those their.
3. determine and gather assets , figure out what they own and there assets.
4. open an estate bank account- locate all money in all bank accounts and open one bank account which will hold all the estates money.
5. secure real estate- make sure it is in trustworthy hands, and it is secure.
6. secure physical assets according to need.
hope this helps..karissa
Wiki User
∙ 15y ago
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Who is responsible for paying an estate tax?
A person who inherits goods when someone dies.
Who is responsible for paying estate tax?
A person who inherits goods when someone dies.
What is the difference between an inheritance tax and an estate tax?
an inheritance tax is based on the portion of an estate an estate is a federal tax on all the wealth a person leaves == ans == There may not be an exact answer because some depends on your own, or the specific IRS or State definition of things. But generally: An inheritance tax would be on the value of what someone receives from the estate of someone who dies. Paid by the recipient. The estate is actually the continuation and winding up of the deceased persons affairs, and they may be taxed before what is left is distributed to those inheriting.
Tax imposed on the assets of one who dies?
yeah, thatd be estate taxes
What happens when a pod beneficiary dies before the account owner dies?
The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.The owner must name another beneficiary for the account or it will pass into the owner's estate at the time of their death.
Who is responsible for debt when a person dies in Washington?
The estate is responsible for debt. That is one of the reasons for opening probate.
What happens if someone dies and has no will?
Their estate is held by the court and people are invited to make their case for a part of that estate.
Is it legal to change the address of someone who dies if you are next a kin?
Not if you are the fiduciary of the estate.
Who is responsible for paying an estate tax?
A person who inherits goods when someone dies.
Who is responsible for paying estate tax?
A person who inherits goods when someone dies.
What is the difference between an estate tax and gift tax?
Estate has to do with when someone dies. Gift tax has to do with when someone makes a gift of larger than a certain value.
Who pays the attorney when someone dies in Alaska?
The debts of the deceased are the responsibility of the estate. The estate would pay the cost of an attorney. If the estate has no assets, the attorney would require someone to pay them for their services.
what happens when someone dies and his estate never goes through probate and then the executor of his estate dies ?
You should seek official legal advice, but the online consensus seems to be that the 2nd person in line to be executor becomes in charge of the estate.
When someone dies who decides if there is an estate to execute?
The creditors and heirs at law generally decide whether the decedent's estate requires probate.
When someone dies in Alabama do you have to pay estate tax?
yes you have to pay 15 dollars more
What happens when an executrix of an estate dies before the estate is settled?
Someone else will be appointed the executor. The probate court will appoint someone, usually a bank or attorney, if no one 'volunteers' to do the work.
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.
