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Can mutual funds pass free of probate?
Yes, mutual funds can pass outside of probate if they are held in an account with designated beneficiaries. When the account holder dies, the funds can be directly transferred to the named beneficiaries without going through the probate process. However, if no beneficiaries are designated, the mutual fund shares may become part of the probate estate. It's important to ensure proper beneficiary designations are in place to avoid probate complications.
Can an executor sell property without going through the probate process?
No, an executor cannot sell property without going through the probate process.
What is the importance of Automated Teller Machine?
Atm help you withdraw without going to the bank
What is the function of ATM?
The ATM allows an operate to withdraw money from their account without actually going to their bank.
Does the life estate prohibit the land from going through probate process?
No, the life estate does not prevent it from going through probate. The probate process lays out the deed as to who is the remainder man for the estate.
Do you need to probate a will if there are assets?
That is the purpose of going into probate. It allows assets to be legally transferred.
Can you get a letter of testamentary without going to probate in TEXAS?
Letters Testamentary are a court issued document that show an executor was duly appointed by a court.
What is the difference between a living trust and an estate?
A living trust is set up for a specific purpose, with rules for what is to be done with the assets while the individual is living. They key to many is that it can also transfer the contents without going through probate. An estate is the property of a decedant that is going through probate.
Is leased land exempt from probate procedure?
The contract is an asset of the estate and is going to be subject to the probate procedure.
Why do banks automatically probate investments and freeze accounts?
The bank has been entrusted to take care of these assets. They are not going to risk breaching their fiduciary duty by making a mistake or letting an unauthorized person have access to the funds.
If a property is owned by the daughter and the deceased mother is that considered the deceased estate?
The rights in the real property are a part of the estate. If the property was owned with rights of survivorship, the daughter may claim title without going through probate. Consult an attorney who does probate work in your jurisdiciton.
In Florida your father passed away and in the will everything goes to your mother does she need to go to probate or does she just assume all assets without going to probate?
If the estate includes any assets that are in your father's name alone then his estate will need to be probated. If that is the case, you and your mother should arrange a consultation with an attorney who specializes in probate who can review the situation and explain your options.
