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Can a sibling force another sibling to turn over life insurance to pay for their parents funeral?
No, unless they are an executor of the estate and the parent had been paying the insurance premiums before their death.. Any person can insure anyone, it only means that a policy will be paid on death of the person they have insured and is paid to the person who paid the premiums or to their estate.
How do siblings file for parent assets after death with no will?
Petition the court to open the estate. They can ask that one of the children be appointed as the executor. The court will issue a letter of authorization to the executor to inventory and clear out the estate.
How do you get a power of attorney for a deceased sibling?
A power of attorney represents a living person. After their death, you would apply to be executor of their estate with the probate court.
How do you change the executor of an estate after the death of the family member My brother is executor and wants nothing to do with estate. How can I become the executor?
The executor can file a resignation with the court and you would petition for appointment as the successor.
Can i become executor of an estate after my father's death?
There is no reason you cannot become executor of an estate as long as the court agrees. As long as you are 18 or older, you can serve in that capacity.
How long after a death does the executor have to settle the estate in Illinois?
In Illinois, there is no strict deadline for the executor to settle the estate after a death. However, it is generally expected that the executor will complete the process within a year of being appointed. Delays could occur due to the complexity of the estate or legal challenges.
If your sibling owes money to your mom at the time of your moms death does she have to pay it back to the estate.?
That will depend on the will, if there is no will and no signed document then the answer is "no" There MUST BE PROOF that the debt is owed in the first place!!! Your sibling absolutely has to repay the debt to the estate, especially if there is no will. In fact, the only way your sibling can get out of paying the debt is if there IS a will and the will specifically forgives the debt. The debt is an asset of the estate and must be collected by the executor. If your sibling is the executor, she still must pay it back. Frequently, in situations like this, the debt is not actually paid to the estate. The person owing the money simply has his or her inheritance reduced by an appropriate pro rata amount depending on the circumstances. If there is no signed document evidencing the debt, it must still be repaid if the debt can be proved by other means.
Could gift before death be part of the estate?
Yes, gifts that were given within two years of the death can be pulled back into the estate by the executor.
After death of the grantor of POA who is in charge of the estate?
A Power of Attorney has no relationship to the estate. A Power of Attorney automatically ends at the death of the grantor. The will names an executor who will be responsible for the administration of the estate. If there is no will, the court can appoint an executor. If there is no family member that all the beneficiaries agree can be the executor, the court will appoint a bank or attorney to serve as the executor, at the appropriate fees, of course. Consult a probate attorney in your state or country for further information. The executor named in the will or the administrator appointed through the court if there is no will is in charge of the estate after death. The power of attorney has no effect once the grantor dies.
How can someone become the executor of an estate after the death of the individual?
To become the executor of an estate after someone's death, you typically need to be named as such in the deceased person's will. If you are not named in the will, you may need to petition the court to be appointed as the executor. This process involves submitting the necessary paperwork and demonstrating your qualifications to fulfill the role.
What is the difference between Executor and Power of Attorney?
A POA allows an attorney in fact to act on behalf of the principle while the person is living. It is extinguished upon the death of the principal. An executor is appointed by the probate court to settle a testator's estate after their death. An executor is often named in a will but must be appointed by the probate court. An executor only has power after the death of the testator and only after they have been duly appointed by the probate court.
What date is used to value an estate for calculating the executor fee?
An estate is the total value of all your assets at the time of your death.
