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What else can I help you with?
Can you get some money before the estate is settled?
nah
Can money will to a benefitor be used for estate without the benefitor's approval?
Yes. All debts of the estate must be settled before any money can be distributed. If there are more debts than there are money, no one will inherit anything.
What happens when someone named in the will owes money to the estate?
When someone named in a will owes money to the estate, their debt is typically settled before any inheritance is distributed. The estate may deduct the amount owed from the individual's share of the inheritance. If the debt exceeds the value of their inheritance, they may not receive anything from the estate. It’s important for the executor to ensure all debts and obligations are managed according to probate laws before finalizing distributions.
Who is responsible in paying the bills of a house left to a person in the will when the will is still not settled?
The estate has that responsibility. Until the estate is settled, the house ownership and responsibilities have not been transferred.
How is an estate settled?
Through the local Probate Court
Can you get some money before the estate is settled?
nah
Is an estate administrator paid after the estate is settled or can they collect before it is settled?
They can collect before it is settled
Can money will to a benefitor be used for estate without the benefitor's approval?
Yes. All debts of the estate must be settled before any money can be distributed. If there are more debts than there are money, no one will inherit anything.
Can a co-owner on a checking account be liable for using money from an estate not settled?
Yes, the co-owner would be legally liable for using money in the account from an estate that was not settled.
Can you spend money out of an estate if a notice to creditors of death was never published?
No, you have to follow the legal procedure before the estate can be settled. If a person uses the money form an estate without going through these procedures they are committing a crime and will be liable for the losses to creditors.
Why must an estate go through the probate process before it is settled?
An estate must go through the probate process before being settled to ensure that all relevant taxes and fees due are paid. Once this has happened the estate can be settled and distributed as stipulated in a will.
What happens is a beneficiary die's but there are other beneificiaries before an estate is settled?
The beneficiary's share goes into their own estate.
What happens when one of the beneficiaries of a will dies before an estate is settled?
It will be dependent on how the first will was written, but in most cases, their share of the estate simply becomes a part of their estate.
What happens when someone named in the will owes money to the estate?
When someone named in a will owes money to the estate, their debt is typically settled before any inheritance is distributed. The estate may deduct the amount owed from the individual's share of the inheritance. If the debt exceeds the value of their inheritance, they may not receive anything from the estate. It’s important for the executor to ensure all debts and obligations are managed according to probate laws before finalizing distributions.
What happens when one of a group of beneficiary dies before the property is settled?
Their share goes into their estate.
Did your father have a will?
If your father had a will before his death, it will makes easier in dealing with his estate. If there is no will, it could take years before things finally get settled.
Are children of deceased responsible for his debt in Colorado?
The estate is responsible for the debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, there are some people who will not get paid.
