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What does per stirpes mean?
http://en.wikipedia.org/wiki/Per_stirpes Basically, if I have two siblings, we each have two children, and I die before my parents but my siblings and my children survive them, my children would take the equal share I would have received had I survived.
If your parents' will left their estate to you and two siblings but your sister took a lot of personal things can she do that?
If your parents' will specified that the estate is to be divided equally among all siblings, then your sister is not entitled to take more than her share without the agreement of the other siblings. If she has taken personal belongings without consent, you may need to consult with a lawyer to address the situation legally.
If you are a beneficiary to a deceased parents estate and your sister is executor is there a way she can keep your portion from you?
No. She is legally bound to follow what the will says. If, however you are a minor - she may put your share in a trust until you are of legal age. She cannot keep it for herself or give it to anyone else.
Can a heir be forced to sell his share of an estate?
They have a share of the estate. That is not necessarily a share in a specific item or property. The executor sells and the proceeds are distributed per the will. Until you receive the property, you have no control over what is done with it.
Can a beneficiary refuse an inheritance?
Yes, a beneficiary can refuse an inheritance. It sometimes makes sense for tax reasons or if one of the others is in need. Their share either gets split among the other beneficiaries or becomes part of the remainder.
What type of tax is levied on the beneficiary share of an estate?
The type of tax that is levied on the beneficiary share of an estate is known as inheritance tax. This will be assessed based on the legacies the beneficiary receives.
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.
If i am the executor of my dad's will and beneficiary of his 401 do I have to share with my siblings?
If he listed you as the beneficiary of his 401K then it will bypass his estate, be payable to you and you do not have to share it. If you are the court appointed executor of his estate you must distribute his property according to the provisions in the will and according to state probate laws under the supervision of the probate court. His debts must be paid before any distribution of his estate can be made.
What type of tax is levied on the beneficiary's share of an estate?
inheritance
What type of tax levied on the beneficiary share of an estate?
inheritance
If you are the sole beneficiary on the life insurance policy for your mother and she dies do your siblings have a right to a share of what is left?
If you are the sole beneficiary, no, your siblings have no right to the benefits.
Can a beneficiary forfeit an inheritance if they want their share to go to the other 3 beneficiaries instead?
Generally a beneficiary can file a disclaimer with the court. State laws vary so you need to check the laws of your state. In some states where real estate is part of the estate assets you need to sign a deed transferring your interest to the other beneficiaries. An example is provided at the link below.
Can a beneficiary be removed from an estate?
There are very limited ways that a beneficiary named in a will can be removed from receiving their share of the estate. If it is an ex-spouse, the divorce decree will often specify that any will made prior to that date will be null and void. A beneficiary can decline to receive an of an estate, sometimes done to increase someone else's share in the estate, such as a less well-to-do sibling, or even a parent.
What happens to a beneficiary designation if the beneficiary dies - is there any protection for the beneficiary's children?
Generally the language in the will directs how the estate will be distributed provided that the will was carefully drafted by a competent attorney. A gift to a deceased beneficiary may pass to her/his heirs, her/his siblings or may lapse and pass into the residuary of the estate to be shared by all the other beneficiaries. The testator has the power to decide while the will is being drafted. If the testator has died you should have the will reviewed by an attorney to determine who receives the share of a beneficiary who predeceased the testator. If the will has been filed for probate then speak to the attorney who is handling the estate.
What happens to a beneficiary designation if the beneficiary dies is there any protection for the beneficiary's children?
Generally the language in the will directs how the estate will be distributed provided that the will was carefully drafted by a competent attorney. A gift to a deceased beneficiary may pass to her/his heirs, her/his siblings or may lapse and pass into the residuary of the estate to be shared by all the other beneficiaries. The testator has the power to decide while the will is being drafted. If the testator has died you should have the will reviewed by an attorney to determine who receives the share of a beneficiary who predeceased the testator. If the will has been filed for probate then speak to the attorney who is handling the estate.
Can a beneficiary to property remove their name?
A beneficiary does not have to accept an inheritance. Their share or that item will go back to the estate to be distributed in another manor.
What is beneficiary share?
A beneficiary share refers to the portion of an estate or trust that is allocated to a beneficiary, typically outlined in a will or trust document. It represents the entitlement of the beneficiary to receive assets, income, or profits from the estate or trust. The specific share can be determined by the terms of the governing document, and it may vary based on the nature of the assets and the intentions of the grantor or testator. In some cases, beneficiary shares can also refer to shares in a corporation or investment fund that are designated for specific individuals.
