0
my cousin passed away in feb. 2012 and i need to know if his home and car are part of his estate? neither one of them are paid off. we have alot of medical bills and i have called a few and they ask if he has an estate. i dont know how to answer this question. his son who is 23 wants to live in the house, but his son was not on the loan for the house. will this have to be sold to pay medical bills. he also has a car that is in only my cousins name, will that need to be sold also. some lawyer told them that they needed to wait 6 months to do anything, but the son could continue to pay the house payment. i am so confused as what the right thing to do is. his house is only worth about 54 thousand, and the medical bills are about 35 thousand dollars at this time. there may be more to come.
Wiki User
∙ 11y ago
Wiki User
∙ 14y agoA decedent's estate is all the property they owned at the time of death.
Add your answer:
Earn +20 pts
When can a decedents estate claim a charitable deduction?
They claim it on the estate taxes as a deduction. It has to be to an approved charity.
A process that facilitates the transfer of a decedents estate to named beneficiaries is?
The probate process.
Do you have to pay the decedents creditors?
You have to pay them before any of the estate can be distributed to the heirs. If there isn't enough, the debtors are out of luck.
Is the person who rewarded a life estate resposible for decedents debt?
That will depend on the relationship. If it is a spouse, there is likely to be a legal responsibility.
If a decedents home is left out of their trust is the executor still liable to pay the mortgage?
The home is a part of the estate. It does not matter that it is or is not in a trust. The executor is responsible for taking care of all of the assets of the estate.
What has the author Albert W Secor written?
Albert W. Secor has written: 'Estate administration' -- subject(s): Decedents' estates
What has the author Leopold Amighetti written?
Leopold Amighetti has written: 'The law of dependants' relief in British Columbia' -- subject(s): Decedents' estates, Decedents' family maintenance, Inheritance and succession 'Wills, estates and government benefits' -- subject(s): Decedents' estates, Estate planning, Law and legislation, Old age pensions, Wills
Is a decedent's estate responsible for paying the self-employment tax on non-employee compensation?
You mean on the decedents non-employee comp...Yes
Does Arizona imposes an inheritance tax?
No. Inheritance and Estate TaxesThere is no inheritance or gift tax and the estate tax does not apply to decedents whose date of death is on or after January 1, 2006.For further information, visit the Arizona Department of Revenue web site
What is the estate tax rate for Virginia?
Legislation enacted by the 2006 General Assembly, House Bill 5018, repeals the Virginia estate tax for the estates of decedents whose date of death occurs on or after July 1, 2007.
What has the author Michael H Riley written?
Michael H. Riley has written: 'Estate administration' -- subject(s): Forms, Decedents' estates, Executors and administrators
Does the Executor of the estate sign the decedents name and then sign as the executor of the estate?
No. The executor must be appointed by the probate court and signs their own name as the executor of the estate. For example: " John Smith, executor of the estate of John Doe." Be sure to add that designation, especially when signing contracts on behalf of the estate, so you do not unintentionally obligate yourself personally in any transaction you carry on for the estate.
