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Heirs can make claims against an estate for a variety of reasons, including seeking their rightful share as stipulated in a will or under intestacy laws if no will exists. They may also claim for expenses incurred on behalf of the deceased, such as funeral costs or outstanding debts. Additionally, heirs can contest the validity of a will, alleging issues like lack of capacity or undue influence. In some cases, they may pursue claims for specific bequests that were not honored or for property that was wrongfully excluded from the estate.
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What is the definition of an as is residential real estate purchase in North Carolina?
You accept the property in the condition it is in at the time of the purchase. The seller makes no warranties and you can't make any claims against the seller to make repairs.
What items are part of the residuary estate?
Assets that are not specifically devised, a devise that fails for some reason and assets that come into the estate after the death of the testator, such as an award in a lawsuit, make up the residuary estate. For example, if the testator simply left all her estate to be equally shared by her three children, they will share the entire residuary estate. She could also leave her real estate to one daughter and direct that all the rest of her estate be shared by her other two daughters. In that case, the real estate is not part of the residuary.
Is my sister entitled to part of my estate when I die if I am married with no children?
Make her your beneficiary and put her into your will to make sure she inherits what you want
When a co signer on a business loan dies is the estate responsible or is the other business owner liable for paying the loan?
It depends on how the business and the loan are titled. If the business is a partnership, the business may be responsible for paying the loan. If the borrowers signed as individuals the surviving signer may be able to make a claim against the estate. You should consult with an attorney who can review the loan and any business documents and explain your responsibilities and options.
What is Charismatic Real Estate Services?
Charismatic Real Estate Services offers boutique style services. Working with a charismatic Real Estate Agent ensures that your transaction will be handled professionally - which is why it makes since for you to talk to use before you buy or sell. We are committed to providing the highest level of customer service to make your real estate transaction as smooth as possible. You can rely on us for superior results in every situation
Why does an administrator want her final settlement in probate of an estate to be laid over for 30 days for exceptions and does this order to the court delay the monies received by the heirs?
They want to make sure there are no further claims against the estate. Yes it will delay the heirs receiving their distribution.
What happens if you have judgments against you after you die?
Your creditors can make claims against your estate if you own any property at the time of your death.
How can you prevent a nursing home from taking an estate left to heirs?
If the property was in the name of the decedent then it became part of the estate. If the decedent owed a debt to the nursing home for care it provided that was not covered by insurance or any government benefit the nursing home can make a claim against the estate. The estate must pay the debts of the decedent before any property can be distributed to the heirs.
Gifting of an estate if creditors want to collect can the gifting of an estate stop it and can it be gifted to the offspring. Will the offspring be liable to pay debt of diseased parent.?
Creditors have a statutory period during which they may make a claim against an estate for an outstanding debt. Creditors who file in a timely manner must be paid before distribution is made to the heirs. If there is no estate the heirs are not liable to pay the debts of the deceased.
Can the deceased be billed?
The decedent's estate must be probated if they owned any property. Creditors can make claims against the estate. The creditors must be paid before any of the assets can be distributed.
If someone dies and leaves the house to their child but owes a lot of credit card debt can a lien be placed on the property to collect the debt?
es. The debts of the decedent must be paid before any property can be distributed. The creditor can file a claim against the estate. The estate must be probated if it contains real property in order for title to pass to the heirs legally.es. The debts of the decedent must be paid before any property can be distributed. The creditor can file a claim against the estate. The estate must be probated if it contains real property in order for title to pass to the heirs legally.es. The debts of the decedent must be paid before any property can be distributed. The creditor can file a claim against the estate. The estate must be probated if it contains real property in order for title to pass to the heirs legally.es. The debts of the decedent must be paid before any property can be distributed. The creditor can file a claim against the estate. The estate must be probated if it contains real property in order for title to pass to the heirs legally.
What is law on paying off debts after a death?
First, the estate must be probated. The filing of the probate will trigger the publishing of a notice that the person has died providing the creditors with an opportunity to make claims against the estate for unpaid debts.The estate is responsible for paying the debts of the decedent. The debts must be paid before any assets are distributed to the heirs. The probate code in each state provides a priority scheme by which estate debts must be paid. It is especially important if there is not enough money in the estate to pay all the debts. The executor or administrator can be held personally responsible if the debts are not paid correctly or are paid in the wrong order or/and any funds are distributed to the heirs when unpaid debts exist.
Is an ex-wife who remarries but have children and grandchildren be a beneficiary of a man who dies intestate?
Generally, an ex-spouse is barred by law from making any claims against the estate of their former spouse. Generally, a divorce decree bars either party from making any claims against the other, as between the parties, forever. An ex-spouse can make a claim against the estate of a decedent who is in default of child support payments.
What is the definition of an as is residential real estate purchase in North Carolina?
You accept the property in the condition it is in at the time of the purchase. The seller makes no warranties and you can't make any claims against the seller to make repairs.
When an executor is removed can both heirs be appointed to make all decisions?
Yes, both heirs could be appointed as co-executors. If the court feels it is in the best interests of the estate they will do so.
What if heirs cannot agree on intestate estate administration?
If heirs cannot agree on the administration of an intestate estate, they may need to seek mediation to resolve their disputes amicably. If mediation fails, they might have to go to court, where a judge can appoint an administrator to manage the estate and make decisions on behalf of the heirs. In some cases, litigation may also lead to the division of assets based on legal entitlements. It's often advisable for heirs to consult with an attorney to navigate the complexities of intestate succession and ensure their rights are protected.
How long after death does the executor have to pay the heirs if there were no debts?
After the death of an individual, the executor typically has a legal obligation to distribute the estate to the heirs as specified in the will. If there are no debts to settle, this process can generally take a few months to a year, depending on the complexity of the estate and state laws. However, once all necessary legal requirements are met and the estate is settled, the executor should aim to make distributions to the heirs as promptly as possible, often within 30 to 90 days after finalizing the estate administration.
