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What else can I help you with?
Can a frozen bank account be used for funeral expenses?
A court will need to lift the "freeze" order before funds can be removed from the attached account. If the account belonged to the deceased the probate court has jurisdiction, in which case funeral expenses will be paid from the estate of the deceased. If the account does not belong to the deceased it is unlikely that a request for release will be granted unless the requester can provide documentation that there is no other means to obtain burial funds.
What is preoperative expenses?
Incurred expenses before company formation after commencement of business
Where can I find EBIT on financial statements?
EBIT, which stands for Earnings Before Interest and Taxes, can typically be found on the income statement of a company's financial statements. It is calculated by subtracting operating expenses from gross revenue.
Can the executor of a will move into the house before the will is probated?
Generally, an executor of a will cannot move into the deceased's house before the will is probated. Until the probate process is complete, the estate is not officially recognized, and the executor does not have legal authority over the property. However, if the executor is also a beneficiary and has the agreement of other beneficiaries, they may be able to move in, but this can vary by jurisdiction and should be approached cautiously to avoid disputes. It's advisable to consult with a probate attorney for guidance specific to the situation.
Is wage calculated before or after taxes are deducted?
Wages are typically calculated before taxes are deducted.
Who pays a funeral home for expenses and when do you pay for it?
The funeral expenses should be paid for out of an individual's estate before anything is paid to beneficiaries. This is usual language in wills and trusts. This must be paid for when services are rendered. However if a person is still living they can prearrange their planning with a licensed funeral director prior to this event. Usually if the individual is deceased the Executor and or Trustee will take care of this.
Are funeral expenses to be paid before the insurance proceeds are divided if the beneficiaries on the life insurance policy are minors?
Funeral Expenses and costs are determined by the funeral home providing the services not by the probate process. Funeral expenses should be paid promptly and if agreed, reimbursed later.
Can my deceased father's beneficiary who has dementia let her power of attorney not help pay for funeral expenses?
Your father's estate is responsible for paying the funeral expenses from his assets. The expenses and debts of the estate must be paid before any distribution is made to any of the beneficiaries. Therefore the funeral expenses must be paid before the beneficiary receives her portion from the estate.
How is the estate calculated in a will?
The "estate" is everything belonging to the dead person. It is calculated by subtracting everything owed from everything owned. In other words it is what is left after all the dead persons debts and funeral expenses are payed but before any death taxes are calculated.
Can an executor reimburse a beneficiary for funeral costs?
Most wills have a provision providing for payment of funeral expenses out of the proceeds of the estate. Check the deceased's will to see if this indeed is the case. If so, a beneficiary (or any other person for that matter) who pays the funeral expenses should be reimbursed. As a side note, the expenses associated with the funeral are usually deductible expenses when filing the estate's inheritance tax return. Check with either an estate attorney or the register of wills (or Orphan's Court) of the county where the will was probated (or will be probated). You should be able to get the answers you need from the register of wills.
Are funeral expenses paid by estate before other debts?
If the executor personally signed for the funeral, yes. Typically the estate pays the cost of the funeral. In that case the executor would pay the bill from the estate, not out of his own pocket.
What is an Executor's commission?
A reasonable fee an executor can charge for doing all the work (and there can be a lot of it) in executing a will. This fee will be on top of any expenses and will come out of the estate before any inheritance payouts. Heirs should be able to see what the expenses and commission are, should they wish to do so - it is the duty of the executor to keep detailed records/accounts.
What is an commission?
A reasonable fee an executor can charge for doing all the work (and there can be a lot of it) in executing a will. This fee will be on top of any expenses and will come out of the estate before any inheritance payouts. Heirs should be able to see what the expenses and commission are, should they wish to do so - it is the duty of the executor to keep detailed records/accounts.
Can I sue someone for expenses paid for a funeral if I live in a different state?
Normally you have to sue someone in the particular location where a particular action happened. A funeral is another story. Normally a funeral comes out of the estate of the deceased. That happens before the estate is divided after the estate is probated. Normally the contract for payment for funeral expenses is signed at the morticians office before the funeral. That legal document would be the basis for your lawsuit. You can check with a local lawyer in your area, but you might need to go to the place where the contract for payment for the funeral was signed in order to sue someone.
Can you request a validation of debt for a deceased parent?
There should be no reason that the executor can't request validation. In most cases the debts of the deceased, including funeral expenses, are the responsibility of the estate. The estate, or its beneficiary should reimburse any valid debtors before giving any of the assets away. Consult a probate attorney in your jurisdiction for help.
Your brother is the Executor of our father's estate The law firm where his wife is a paralegal is handling the estate is this a conflict of interest?
No, as Executor it is your brothers responsibility to settle your fathers taxes, funeral expenses and taxes. He then needs to divide up the remains of the estate as set out in your father's will. If he needs help from a law firm to do this then the law firm will need to be paid (out of the estate) before the heirs inherit. As executor your brother can use any law firm he chooses to help him but as an heir it would be you right to ask to see your father will and the estate's accounts when you get paid out (assuming you are named as a heir in the will).
I lived with my mother for 33 months prior to her death as her caretaker and paid all household expenses. Can an executor claim back rent from me?
No. While your mother was alive you were living at her home with her permission. The executor has no authority to go back and charge you rent since the executor had no authority over the property before your mother's death.No. While your mother was alive you were living at her home with her permission. The executor has no authority to go back and charge you rent since the executor had no authority over the property before your mother's death.No. While your mother was alive you were living at her home with her permission. The executor has no authority to go back and charge you rent since the executor had no authority over the property before your mother's death.No. While your mother was alive you were living at her home with her permission. The executor has no authority to go back and charge you rent since the executor had no authority over the property before your mother's death.
