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What else can I help you with?
Does the administrator have to pay an heir's debts before the estate is settled?
A creditor might be able to assert some sort of claim to the portion of the estate going to the heir if the Administrator is served with notice of a judgment. Remember, the Administrator is wholly responsible for every dime spent and is also accountable for their actions regarding paying debts.
Is becoming an administrator of a small estate where no will is found expensive?
It should not cost the administrator anything. The costs, which are fairly reasonable, are born by the estate. And the Administrator can charge for their services.
If you are the executor of an estate and owe money to a lien holder can they go ofter money in the estate?
No. A personal creditor of yours has no right to attach the estate for which you are the executor. However, if you are also a beneficiary of that estate the creditor can go after your portion of the distribution.
If the son is the aministrator of the estate does the spouse still have rights to the stocks and bonds?
The administrator of an estate simply takes care of the details. When there is an administrator, he decides how the estate will be divided. The spouse has no rights to the stocks and bonds. The spouse has rights to a percent of the estate as determined by the law, will, or probate judge. The administrator can decide to give the spouse only stocks, only bonds, or only cash. The administrator can sell everything and divide the money. That is the way it works.
Your brother died tragically your son inherits his estate estate has to be run by an executor until son turns 21 2 and a half yrs Over 100000 in credit card debt What do you do?
After the applicable statute of limitations runs (typically four years on a credit card debt), the creditor will have a tough time collecting. If the creditor sues, you have to plead statute of limitations as an affirmative defense, but it is a good defense. ==Additional Answer== In some states there is a specific statutory period during which a creditor can make a claim against an estate. In Massachusetts, for example, once an estate has been filed for probate a creditor has one year to make a claim. After that period the creditor is barred from trying to collect from the estate. Check your state laws. If there is an executor then the estate must have been filed in probate court. If the creditor has already filed a claim against the estate in probate court then the claim will need to be paid before any disbursements are made from the assets of the estate. The creditor will not need to bring suit to collect and the claim filed will preserve its right to collect.
Can a creditor become an administrator of the debtor's estate?
Yes, they certainly can.
Who can become an administrator of an estate?
Generally, an administrator must be an heir at law or a creditor. Laws vary in different jurisdictions. You need to check the laws in your particular jurisdiction.Generally, an administrator must be an heir at law or a creditor. Laws vary in different jurisdictions. You need to check the laws in your particular jurisdiction.Generally, an administrator must be an heir at law or a creditor. Laws vary in different jurisdictions. You need to check the laws in your particular jurisdiction.Generally, an administrator must be an heir at law or a creditor. Laws vary in different jurisdictions. You need to check the laws in your particular jurisdiction.
How can one become the administrator of an estate in the absence of a will?
To become the administrator of an estate without a will, one must petition the court for appointment as the administrator. The court will typically appoint a close family member, such as a spouse or adult child, to serve as the administrator. The administrator will then be responsible for managing and distributing the assets of the estate according to state laws.
Your fiance died in a car crash how do you become administrator of his estate?
State laws govern who may qualify to be appointed the administrator of an estate. Generally, one must be an heir at law or a creditor of the decedent. You need to check the laws in your jurisdiction. You can inquire at the probate court or consult with an attorney who specializes in probate law.
Does the administrator have to pay an heir's debts before the estate is settled?
A creditor might be able to assert some sort of claim to the portion of the estate going to the heir if the Administrator is served with notice of a judgment. Remember, the Administrator is wholly responsible for every dime spent and is also accountable for their actions regarding paying debts.
Co-administrator of estate?
The co-administrator of an estate has as much equal access to the estate as the administrator. If property or the estate needs to be divided, the parties will need to agree.
How can someone become the executor of an estate without a will?
To become the executor of an estate without a will, a person can petition the court to be appointed as the administrator. The court will typically appoint a close family member or other interested party to handle the estate's affairs. The administrator will then follow the state's laws on intestate succession to distribute the assets of the estate.
Can brother-in-law become administrator of deceased sister and brother-in-law's estate?
Yes
How do you become executor of an estate without a will?
You would not be an executor. You would be an administrator. You file an application with the probate court in your jurisdiction to be appointed the administrator of the estate.
Who is appointed administrator when intestate?
State laws vary on who can be appointed the administrator of an estate. Generally, the surviving spouse is favored. If there is none or they decline, a child or other heir at law. Generally, it must be someone who is an interested party. A creditor can be appointed.
Can a cousin become an administrator of an estate?
In some jurisdictions, a cousin may be allowed to become an administrator of an estate if they are eligible and meet all the legal requirements. However, the specific rules and regulations may vary depending on the location and circumstances of the estate. It is advisable to seek guidance from a legal professional to determine the eligibility and process for appointing a cousin as an administrator.
How can someone become the executor of an estate when there is no will?
When there is no will, someone can become the executor of an estate by petitioning the court to be appointed as the administrator. The court will typically appoint a close family member or other interested party to handle the estate's affairs.
