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What powrs do the executor of estate have after the estate goes into probate?
Wiki User
∙ 10y ago
Once they have the letter of authority, they have full control of the estate. They are responsible to the court for the inventory and dispersion of assets.
Wiki User
∙ 10y ago
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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.
What happens to the estate in Va. if there is no will?
In Virginia, if there is no will, the estate will be distributed according to the state's intestacy laws. Typically, this means that the estate will be inherited by the closest living relatives, such as a spouse, children, parents, or siblings, in a specific order of priority set by state law.
What do you do if a parent dies and there is no will?
Open an estate. The courthouse will usually be able to provide the packet of papers required to file. The court can appoint an executor and the estate will be inventoried and distributed after the payment of debts.
How can you get the money from your deceased mothers checking account?
The executor of the estate can close and empty the bank account. Distribution will be in accordance with the will. Consult a probate attorney in your state. You have to wait until the will goes through probate.
Can a property from probate estate be rented out indefinitely?
The estate must be probated in order for legal title to the property to pass to the heirs. The property cannot be insured until there is a legal owner. You have no right to enter into a rental agreement unless you are the legal owner. Any contract you sign would be void and further, it would be fraudulent. The tenant has the right to know who the legal owner of the property is. Property from a probate estate cannot be rented out indefinitely. Property that is in a probate estate is within the sole possession and control of the executor but only until administration of the estate is completed. The executor is obligated to administer the estate promptly then distribute the property to the rightful beneficiaries. Since only the executor may rent out property that is in the estate and since the executor's authority over the property is only temporary, it goes without saying that an executor may not rent estate property out for an indefinite period of time.
Can i take a death certificate to a bank and retrieve money from the deceases' account?
No. You need proof that you are the executor of the estate.
What are the executor fees in Oregon?
The Executor is entitled to 7% of the first $1000 in probate assets. Then that goes down to 2% for all probate assets over $50,000. The Executor is also entitled to 1% of all the non-probate assets. Although, as always, there can be variants to that based on the circumstances.
How do you open estate account after death?
The executor or administrator must be appointed by the probate court. He/she will be issued Letters Testamentary or Letters of Administration then applies to the IRS using Form SS-4 to get a tax identification number for the estate. (The decedent's social security number cannot be used.) Then he/she goes to the bank and gives it one of the probate court documents that show that he/she is the executor, the tax I.D. number and a death certificate and the bank will create an estate account.
Can a grown child live in mother house after she died before will goes to probate?
There are a number of ways for this to occur without a problem. They could be working on behalf of the executor to preserve the property. Or they could be paying rent to the estate.
How does an executor of an estate sell the deceased's car?
Every state will have different laws; however in general you will need a death certificate, probate court document identifying the executor and the Certificate of Ownership (or similar document the state uses to confirm title). The Certificate of ownership is signed as the state requires, and the death certificate and probate document given to the buyer, who goes and transfers title to himself.
What determines if a will goes to probate?
All wills go to probate. It's a matter of how long the process takes. When there is a will, the probate proceedings are called "testate proceedings." The heirs usually decide if it is necessary to submit the will for probate, especially if an executor has not been appointed. The court reviews the will, makes sure that it is valid, reviews and validates the death and appoints an executor if there is none.
One primary advantage of having a will is that your estate avoids probate?
No, you still have to go through probate. But you get to decide where your property goes. Otherwise without a will the state will decide (ORC) where your estate goes. It makes it simpler for you and your loved ones in the end.
