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Which global recession? If you are referring to the current recession, then the answer is because mortgage loans went bad on a massive scale, lenders who held loans lost billions, credit dried up so new loans were hard to make, and many lenders lost access to their warehouse credit lines that they used to fund loans.
What else can I help you with?
Can you respond after the estate has been closed?
There is a statutory period of time during which you may respond to notice of the probating of an estate. Once the estate has been probated and closed it is too late.
Does the estate have to pay bills that are received after the estate has closed?
If the estate was filed through probate there is a statutory period that varies from state to state during which creditors may make a claim against the estate. Once the estate has been closed you should check with the attorney who handled the estate before paying any bills you receive.
Is the executor of an estate finished once the estate is closed?
Once the taxes are paid and the estate closed they are done. Most of the time the court will issue the order closing the estate.
How can I ensure that my 401k is recession proof?
To make your 401k recession-proof, diversify your investments, regularly review and adjust your portfolio, and consider investing in stable assets like bonds or real estate. Additionally, continue contributing to your 401k during a recession and avoid making impulsive decisions based on market fluctuations.
What is a closed estate?
A closed estate would be one where the probate processs has been completed and the assets have been distributed.
What happens to the estate after the estate is closed?
There should be no remaining assets in the estate once it has been closed. All the property should have been distributed according to the Will or according to law.
Once an estate is closed and the beneficaries are equally deeded the house. Can the exuctrix take money from the sale proceeds to pay other beneficaries not paid before the estate was closed?
if the house is sold can that money be divided before the total estate is closed
You have concluded all of your duties as the Independent Executor of an estate and you need to know How do you terminate the estate and your fiduciary relationship?
Generally an estate is closed by filing the final account for allowance. Once the final account is allowed the estate is closed.
Can a creditor still collect a debt after an estate has been closed?
If the estate was duly probated and is now closed then the creditor is out of luck. When an estate is probated a notice is published and the creditors have a certain time period during which to file a claim with the probate court. That time period varies from state to state. If that time period has passed the creditor cannot collect.
What to name a California real estate company?
California Real Estate Company
What are the factors affecting recession?
Factors that affect recession are complex and vary between each incident. What most recessions seem to have in common is an over speculation in stocks, real estate, commodities or some combination precedes the recession. They are usually marked by a loss in confidence by the public which can affect the length/depth of the recession.
Can a executor get paid their fee if the estate is not approved but its closed?
Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.
