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If all property was jointly owned then ownership automatically passed to the surviving spouse. There is no need to open an estate proceeding.

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16y ago

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What are the obligation of an executor to the heirs of an estate?

To insure that the estate is settle correctly and efficiently to maximize the heirs inheritance and to provide clean title to property. A full accounting of the estate and its assets must be produced.


A person appoints a child as executor of the estate. is executor of estate required to list assets after that person dies?

That is one of the duties of the executor. They have to inventory the assets and debts of the estate. Then they will be able to liquidate the debts and distribute the assets.


How many title types of ownership are there in real estate?

Tenancy in common; joint tenancy; tenancy by the entirety; tenancy in partnership; life tenancy.


Is estate tax payable by the recipient?

The obligor is the decedent's estate. If assets are distributed without paying the estate tax, the personal representative is on the hook. In addition, recipients can be required to pay up to the value of assets received.


What kind of estate can be unilaterally be terminate by a lessor or lessee?

estate at will


Does land have to be sold before any assets can be distributed from an estate?

It depends on the extent of the estate. It may be required to settle the debts. The assets may have to be retained to pay taxes on the property until it is sold.


Can a house be emptied by an executor before the will is read?

There is no formal reading of the will. The executor must inventory and value all assets of the estate. They have to provide an accounting to the court.


How much does a life tenancy sale reduce the sale price of real estate?

If a person who has life tenancy is institutionalized and never intends to live at the property that he has life tenancy does that person still have life tenancy.


If you are a child of the deceased are you entitled to an accounting of the estate assets so that you know you are not being taken advantage of by the executor?

The executor must file both an inventory of the estate assets at the beginning of the probate procedure and a final account at the end. You can visit the court and review the file at any time.


Can the executrix of an estate in the state of nc dissolve the estate without the consent of the beneficiaries?

The executrix is responsible to distribute the assets according to the will or the laws. The consent of the beneficiaries is not required.


Is an estate necessary for an indigent parent?

If by indigent you mean completely without assets, then no, an estate is not necessary. An estate is necessary if a decedent has assets that are to be transferred to another person, whether by will or intestacy. In fact, since a decedent's "estate" consist of his/her assets nd if there are no assets, there is no "estate."


How do you find out how much is in someones estate?

Unless you are related to the estate in some way, you may not be able to. However, the estate is required to file taxes and those can be obtained from the IRS under the freedom of information act. And the estate is required to file an accounting with the court, which can also be obtained.