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A person who gets money and property left by a deceased person is usually referred to as the heir. In most cases, people with a lot of wealth usually write a will of how they would wish their wealth to be distributed.
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What happens when money is left in a estate and that person is deceased?
The person would have to be deceased in order for the estate to be distributed. If the person left a Will then the terms of such would apply after any debts and taxes have been paid. If the person died intestate (without a will) the state probate succession laws apply.
What does top off mean?
Off top means that if there is money to be earned, the person who gets 'off top' is the person that gets paid first. It also means that if there is no money left after the 'off top' person gets paid, there will be no other funds paid out.
Can children collect on money that was owed to their parents that died?
If your parents have left a will then it is the responsibility of the executor of the will to pay all of the deceased persons debts and also to collect any monies owed to the deceased person.
What does expression off top mean?
Off top means that if there is money to be earned, the person who gets 'off top' is the person that gets paid first. It also means that if there is no money left after the 'off top' person gets paid, there will be no other funds paid out.
Can the co owner of a car take possession if the other co owner is deceased and left the car to someone else in their will?
by law they cant, unless that deceased person left the car to the person who's trying to get it.
Can same assets be left in a will and a trust?
If the deceased's will leaves assets to a person but places them into a "trust" for that person, yes, they can.
Madame Tussauds London is she a person?
She was, but she is now deceased. All that is left is the Museum that she founded.
Who is responsible for a deceased person's credit card debt if they left no money and they were single?
no one is respondsible- they can ask relitives and friends but no one is obligated to pay the debts unless they are on a loan that has been co-signed
What is a person that is left behind when he or she dies?
The term commonly used for a person left behind when someone dies is a "survivor." It refers to the individuals who outlive the deceased and must cope with their loss.
Which could be used as a legal definition of an estate?
the representation of the worldly goods and property a person owns and what property and goods are left after a person is deceased
What could be used as a legal definition of and estate?
the representation of the worldly goods and property a person owns and what property and goods are left after a person is deceased A+
How do you receive money left to you in a will?
You can receive money left to you in a will by following the instructions laid out in the will, such as contacting the executor of the estate or the probate court. Once the will has been probated and any debts and taxes have been paid, you should receive your share of the inheritance as outlined in the will.
