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What happens to a will if there is insufficient money to meet a bequest?
The answer depends on several factors and state laws vary.The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.The answer depends on several factors and state laws vary.The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.The answer depends on several factors and state laws vary.The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.The answer depends on several factors and state laws vary.The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
What happens if the partner on the mortgage loan moves out nd stops paying?
The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.
What is the money remaining after paying for necessities called?
deposite income
What is money remaining after taxes?
I think it is when you have money left over after paying all of your taxes
How does paying off principal affect monthly payments?
Paying off principal reduces the amount you owe, which can lower your monthly payments by decreasing the interest charged on the remaining balance.
Where on the internet can I go to find high paying cleaning jobs?
I did some research and found a site that listed the most high paying cleaning jobs, the highest paying job was forclosure cleaning. The weblink is here: www.ezinearticles.com
How do you get into the white page directory?
You can get listed in the white page directory but calling your local phone company and paying to have it listed. I hope this helps and good luck with your new business.
What does 40 coinsurance after deductible mean?
40 coinsurance after deductible means that after you have paid your deductible amount, you will be responsible for paying 40 of the remaining covered expenses, while your insurance will cover the remaining 60.
Define the term unlimited company?
the company where in the liabilities of shareholders are unlimited means that in case heavy losses, the personal property of shareholders will also be sold for paying of the Debt's of the company if the assets are insufficient such companies are not found in the wold. the company where in the liabilities of shareholders are unlimited means that in case heavy losses, the personal property of shareholders will also be sold for paying of the Debt's of the company if the assets are insufficient such companies are not found in the wold.
Will paying off a repo car fix your credit?
It won't fix it, but paying off any remaining debt from the vehicle should help your credit rating. Unfortunately, a repossession will linger on your credit report for about 7 years.
When one spouse abandons another in NY who is responsible for the shared debt?
Unfortunately, if the debts are in both names then the remaining spouse will be responsible for paying them. The remaining spouse may want to consult with an attorney who could negotiate on their behalf with the creditors.
How does paying towards principal help reduce the total amount of interest paid on a loan?
Paying towards the principal of a loan reduces the total amount of interest paid because the interest is calculated based on the remaining balance of the loan. By lowering the principal amount, the interest charged on the remaining balance decreases, resulting in less interest paid over the life of the loan.
