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If there are any assets then the estate must be probated. You need to check the laws of your state to determine who can petition to be appointed the executor or administrator of an estate. Generally, it must be a family member, an otherwise interested party such as a non-related devisee (beneficiary in a will) or a creditor. If no person comes forward and there is property a public administrator can be appointed and the property would escheat to the state.
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Who distributes estate of a deceased person?
The estate of a decedent is distributed by the court appointed fiduciary for the estate. If the decedent made a will the court will appoint an executor. If the decedent had no will the court will appoint an Administrator.
How do you determine where the decedent's estate was probated?
A decedent's estate is probated in the county where she/he owned property. Check first at the county probate court where the decedent lived.
Is tax payable on interest on a bank account opened by the executor of a will in order to deal with the estate?
Yes! Income in respect of a decedent must be included in the income of one of the following: * The decedent's estate, if the estate receives it; * The beneficiary, if the right to income is passed directly to the beneficiary and the beneficiary receives it; or * Any person to whom the estate properly distributes the right to receive it.
How can a family member buy the house after the single home owner dies?
The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.The decedent's estate must be probated and the buyer can arrange to purchase the property from the estate administrator.
Is the estate responsible for gambling debt incurred by a parent?
The decedent's estate is responsible for any debts incurred by the decedent.
Can one estate pay back another estate?
Yes, if there is proof of a debt owed by the decedent to the other decedent.
What happens when no estate and no insurance who pays debts?
The decedent's estate is responsible for the decedent's debts. If there are no assets the creditors are out of luck.
Is the estate responsible for medical bills if there is no will?
Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.
Do heirs also inherit the decedent's debts?
No. The decedent's estate is responsible for the debts of the decedent. However, no distribution of assets can be made until the estate is probated and debts are paid.
Is a house and truck part of an estate?
If owned by the decedent, yes. Any property owned by the decedent at the time of death is part of their estate.If owned by the decedent, yes. Any property owned by the decedent at the time of death is part of their estate.If owned by the decedent, yes. Any property owned by the decedent at the time of death is part of their estate.If owned by the decedent, yes. Any property owned by the decedent at the time of death is part of their estate.
What a Executive of a estate?
An executor (not executive) is the person who has the authority to administer the decedent's estate. He/She is appointed by a court with probate jurisdiction. He/She is usually appointed in the decedent's Will.
Can executor use monies from decedent's estate to pay property taxesinsurance on a residence jointly owned by some but not all of the heirs to the estate without prior consent of the heirs?
Assuming that the decedent's Will does not provide otherwise, and assuming that the decedent was liable for the taxes and insurance, or assuming that the residence is included in the decedent's estate, then yes.
