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What else can I help you with?
If you are an estate administrator how long do you have to wait for a lien to placed on estate?
The periods are different in every state. You need to check the time period for filing claims for your state. You should ask the attorney who is handling the estate. If there is none then you need to check your state probate code.
Can cd's be cashed in that belong to a dead person before the will is probated by the executor?
Most states require filing of probate as a first step in appointment of the executor, which then gives the executor the power to collect and appraise the property of the estate and liquidate the portfolio for distribution.It depends on what you mean by "probated." Probate includes the entire process, which can last for years, until all assets are distributed. "Before the will is probated" could be taken to mean "before probate is filed", or "before everything required under probate is completed."So, technically yes, if the latter, because an executor has the power to do that DURING the probate of an estate. However, if the probate has not yet been filed, nobody has the power, as it died with the owner. Many elderly have ownership of such things placed into joint tenancy with right of survivorship, so that another person can immediately access the funds without probate.
What are your legal rights if youre subpoeanad for a probate deposition?
Obviously you are going to be questioned about something having to do with a Will or an Estate. You will be placed under oath, and must truthfully answer the questions that are put to you.
What does it take to be an Estate Probate Lawyer?
Dealing with a deceased loved one's estate can be confusing, especially during a time when family members and friends are grieving. There are rules that must be followed and paperwork that must be filed in a timely manner, making even of the simplest of estates difficult for a layman to handle. Large, complex estates or situations where there are conflicts over the division of the estate require the expertise of a trained Estate Probate lawyer.What Is Part Of The Estate?Everything owned by the deceased person, or decedent, including property owned jointly with others and all monies owed to the decedent.What Does Probate Mean?Probate is the process by which the decedent's will is processed through the legal system. When the deceased person made their will, he or she named an executor for their estate. The executor receives a sum for the work he or she performs. It is the executor's responsibility to see that the will is probated in a timely manner, all paperwork is properly filed and the assets are distributed amongst the heirs as specified in the will. If the deceased person owed debts, those must be paid proportionally to the creditors. As probating an estate is an exacting and time-consuming process, most executors hire an Estate Probate lawyer.What Does An Estate Probate Lawyer Do?An Estate Probate lawyer sees that the necessary legal notices are placed in the newspaper to serve notice on all persons and entities having a claim on the estate. The lawyer deals with creditors as well as those owing money to the estate. The lawyer also handles tax issues, gets appraisals on property and assets and deals with the decedent's bank accounts. Working with the executor, the Estate Probate lawyer ensures that all debts are paid, all monies owed are collected and the estate is divided amongst the heirs according to the wishes of the deceased person.Does Every Estate Need An Estate Probate Lawyer?In short, yes. Unless the executor happens to have the legal knowledge to make sure that every requirement is followed to the letter of the law, it is best to hire an Estate Probate lawyer. Heirs to the estate may hire their own lawyers to represent their interests as well.Although the subject is not one that most people want to think about, let alone deal with, planning ahead for the dispersal of one's estate is the best way to ensure that your wishes are carried out with as little extra stress on your loved ones as possible.
Estates And Trusts?
Estates and trusts are closely related in probate law. In consideration of common law, an estate includes any material or tangible assets and property owned by the deceased person. The estate also includes anything that the deceased may have been entitled to inherit or gain in other ways, such as a monetary compensation from an open lawsuit. After the death of a person, their last will is opened, assuming a will was created. Wills designate the person chosen to handle the matters of the estate, taxes, debts and other issues. This person is called the executor; the person creating the will is called the testator. A person who does not create a will is said to be intestate and the matters relating to the estate must be determined by the court. Probate proceedings involving an estate normally last several years. Estate taxes must be filed for at least two years after the death and other obligations must be met to creditors. Since the process of probate is time-consuming and often results in money and property being depleted or greatly reduced, people may instead decide to create a trust. Trusts can be constructed in addition to a last will and testament. A trust is a pre-arranged account set up to allow any real estate or monetary assets to be placed in it. With the protection of being placed in a trust, assets and property do not fall subject to claims made in probate proceedings. Courts are unable to seize either of these items, which are designated to specific people or one person. There are also special trusts to protect beneficiaries who are disabled or mentally handicapped, keeping them from losing their government benefits they also rely upon. Most trusts are subject to taxes while they are active, but for large estates, they are often preferred since they do not result in such a high amount of the estate diminishing. In many estate proceedings, the estate results in a 50% reduction from taxes alone. There are several different variations of trusts; to understand their full benefits and disadvantages, it is best to speak with an attorney who specializes in creating trusts. The law is very solid surrounding trusts and allows little room for outside interference. Families who will need the assets immediately after the decedent’s death to survive are good candidates for trusts also, even if the estate is not excessively large.
Do you need to probate your father's estate if he left a living trust before he died?
Probate is typically not needed for assets held in a living trust because they pass directly to the beneficiaries named in the trust. However, any assets that were not properly placed in the trust before your father's death may still need to go through probate. It's important to review the trust document and consult with an attorney to ensure all assets are properly accounted for.
Would an executor's fee calculation include monies from a revocable trust that has a trustee other than the estate's personal representative?
Generally no because property placed in a revocable trust is not part of a person's estate.
What happens to a lien placed on a property and that person who is owed the money dies?
The debt is owed to their estate.The debt is owed to their estate.The debt is owed to their estate.The debt is owed to their estate.
What fee can an executor of an estate in charge in Utah?
From LegalZoom.com Uniform Probate Code States Some states have adopted the Uniform Probate Code, including the section on how to compensate the executor of a will. In these states, no specific amount or fee is set by law. Instead, the probate code gives the probate court the discretion to determine what percentage to pay the executor, as long as that amount is "reasonable." The burden is placed on the executor to demonstrate that the monetary percentage she wants is reasonable and will not unduly deprive any of the estate's beneficiaries. As of 2011, the states that had adopted the Uniform Probate Code were Alaska, Arizona, Colorado, Hawaii, Idaho, Maine, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Jersey, New Mexico, North Dakota, Pennsylvania, South Carolina, South Dakota, Utah and Wisconsin.
There is no will the only child is a minor and parents were never married so can the child's mother control the estate?
The mother can apply to the probate court to be the executor. In this case the parents are entitled to the estate. There is probably little to distribute and nothing in the way of legal property. You might consult with a probate attorney to see if it is worth hiring them to assist, but they will probably say it isn't worth it.
Should a life insurance policy be placed within one's trust to avoid probate?
It is usually not necessary to put ownership of Life Insurance into your living trust. I normally recommend that the policy be kept outside the trust as the proceeds will pass without probate. Discuss the tax considerations of who should be the owner with a tax professional familiar with estate taxes. I normally recommend that your spouse (if married) be the principal beneficiary of the insurance with your living trust as the contingent or secondary beneficiary. This way, if your spouse precedes you in death, the policy will pay proceeds to the trust which will distribute the proceeds with the rest of your estate exactly as you have planned without probate.
Previous records of estate ins are recorded where?
Estates that were probated are archived in the probate court where the decedent's estate was probated. In some jurisdictions older files were placed on microfilm to minimize the handling of ancient documents and later digitally stored. However, probates transferred title to real property and are a part of the public record. Therefore, they remain available for examination by researchers.
