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A complete inventory of the estate.
Valuation of the inventory.
Complete listing of claims against the estate.
If the estate is clearly larger than the claims against it, there is no issue with resolving the claims as they come forward. However, if there is not enough to resolve all debts, the estate has to present a plan to the court showing how much each of the debtor's is to receive, usually some number of cents on the dollar.
What else can I help you with?
How do I appoint an executor of estate?
To appoint an executor of an estate, you need to include their name in your will and clearly outline their responsibilities. It is important to choose someone you trust and who is capable of handling the duties involved in settling your estate. It is also recommended to discuss this decision with the person you have chosen to ensure they are willing to take on this role.
Do you need an executor at all?
You don't, but the estate does.
I am trying to claim Mom's annuity. The company is requiring a Letter of Testamentary that I'm the executor of the estate. How do I get this Letter of Testamentary?
You need to get a copy of your Mother's will to prove that you are an executor of her estate. If there is no will you need to apply for an appointment as an executor so that you can handle her estate matters.
Do you have to go through courts to be executor of estate in Columbus GA?
You need a Letter of Authority from the probate court to act as the executor of an estate.
Does the remainder man need an executor?
The executor is responsible for the distribution of the estate. The remainder man does not need a separate executor, though there may be cases were they need to have their own attorney.
Will you need to pay estate taxes?
That will depend on the value of the estate. The executor will have to file a tax return with the IRS for the estate.
If I live in BC does my executor of my will have to live in BC as well?
The person you choose to be your executor should be able to hire and work with a local attorney if necessary, manage the settling of your estate and interact with the probate court. If they live far away they would need to appoint an agent to act for them, and pay that agent for their services.
Is an executor entitled to a commission on the estate if the home is left to him and the money is to be distributed among 3 siblings?
No. The executor gets no commissions. They get paid a fee set by the state.You need guidance from the attorney who is handling the estate. An executor is personally liable for mishandling estate property or funds.
How do you get appointed as the executor of an estate?
To get appointed as the executor of an estate, you typically need to be named in the deceased person's will or be appointed by the court if there is no will. You may need to file a petition with the probate court and go through a legal process to be officially appointed as the executor. It is important to follow the specific laws and procedures in your state when seeking appointment as an executor.
Can executor move into estate without your consent and not pay rent?
The executor can move into the estate. However, they do need to pay rent or show the court how they are compensating the estate, for instance, free rent instead of collecting a fee.
Can a executor of an estate sell property without the permission of the heirs?
First, the executor must be appointed by the court. The executor must dispose of the estate assets according to the provisions in the Will. It is common for the power to sell real estate to be granted in the Will. If not, then generally, the executor must obtain a license from the court. In some states the executor has inherent power to sell real estate. Generally, the executor does not need permission from the beneficiaries to act. They derive their authority by their court appointment and under state laws that vary from state to state.
One executor won't sign the estate accounts?
You need to file a motion with the court asking it to compel the co-executor to sign.
