Probate

For UK probate forms visit: www.iwc-ltd.co.UK/shop/index.php

A trust is an entity set up to maintain and distribute assets in accordance with the trust creator. There are specific laws on how a trust can be set up and run, what reporting and what taxes have to be paid. There are also laws about how long a trust can last.

A will is the method used to specify how one's assets will be distributed upon death. Often a will with create a trust. Wills also are subject to specific laws and taxes.

Yes, every will must go through probate regardless of what it says. That ensures all of the legal requirements are met and taxes paid.

Due to inflation and changing values of land, it is really impossible who was richest. Also, at what point do you want to measure wealth -- at death? at its peak? average wealth over a lifetime? Here is a list of some who died with a lot of money

1. George Washington 1789-1797 - inheritance, plantations

2. Thomas Jefferson 1801-1809 - inheritance, plantations

3. Andrew Jackson 1829-1837 - land speculation, plantations (started with virtually nothing.)

4. Zachary Taylor 1849-1850 - inheritance, plantations, army pay.

5. Theodore Roosevelt 1901-1909 - inheritance

6. Herbert Hoover 1929-1933 - mining, investments (started with virtually nothing)

7. Franklin Delano Roosevelt 1933-1945 - inheritance

8. John F. Kennedy 1961-1963 - inheritance

9. Lyndon B. Johnson 1963-1969 - TV and radio stations, real estate (started with virtually nothing)

Of the living presidents, George H. W. Bush made a lot of money from his oil business, George W. Bush did well with his investments, Bill Clinton and his wife now make millions from speaking engagements. Barack Obama has already made good money from his books and stands to make millions after he leaves the White House from speaking and corporate boards. Jimmy Carter does not have to worry about money, but concentrates on other things.

When a person dies intestate it is important to check the laws of intestacy where the decedent lived. There are many different formulas that are followed in various jurisdictions throughout the world.

In the US and England a small estate may pass to the surviving spouse but larger estates are often divided between the spouse and children. For instance the spouse may get the first $200,000 then a half of the surplus. Every jurisdiction has its own specific formula.

In New York there is no limitation set on the amount of time to settle an estate. The executor can invest as much time as needed, however is required to meet the responsibilities of the estate or risk removal.

If there are any assets or debts, probate is the thing to do.

If your husband is still living then you must ask him. If he is deceased and you don't know if he had a will then see the related question link provided below for some ideas on where to look for a will and how to find a lost will.

I dont think so. Not until they die. Its the same even if you werent.

If the account is solely in the name of the parent you must seek some advice at probate court. If the account is the only property in the account and the amount is small perhaps your state has a fast track method for you to have the authority to access the account. If there was other property the estate must be probated in order for title to the property to pass to the heirs at law. In that case you need to contact an attorney who specializes in probate.

Next, you are not the executor until you have been duly appointed by a court. Only a court can appoint an executor. If you don't want to take on the job of executor then when the will is filed for probate your sister can petition to be apponted the executor and you can file a declination at that time.

An executor cannot assign their powers to someone else via a power of attorney document.

When a decedent owned real property their estate must be probated for title to pass to the heirs. Also, the court must appoint a representative of the estate. You should seek the advice of an attorney who specializes in probate law for the procedure in your particular jurisdiction.

In NJ, either the executor or the administrator will sign what we call an "executor's deed" where there is a will or an "administrator's deed" where the is no will. This is to formalize the transfer of the property. It is important to know that the beneficiaries or heirs technically own the property as of the date of death rather than the date of the deed. This deed is a formality only.

A will does not have to be read in a formal procedure. The executor is the only one that has to read a will.

Certainly. The family can agree on a person, or the court will appoint one. If no one 'volunteers' or if the family can't agree, the court will appoint an attorney or bank to serve in that capacity. They will value the estate, pay off all debts, file taxes and then distribute the remainder according to the state's intestacy laws.

Adoption law varies state to state but in general the short answer is yes. You can adopt someone of any age. Of course, to make someone an heir to your estate, the easier way would be to execute a will.

The probate process is not completed until the estate has been distributed. You should complain to the court that the executor has not carried out her duties and ask that she be replaced. You should also be complaining to the attorney who is handling the estate.

Go to the probate court and ask them to appoint a new executor. In this case they will probably request a full accounting from the existing executor. If it is not complete, they are likely to appoint a third party (an attorney or bank) to serve as the executor. This will cost the estate more money, but it is going to be done correctly.

An executor is charged with acting in the best interests of the deceased and adhere to the stipulations of the will. An executor may acquire money from the estate if: 1. there are specific stipulations in the will that the executor is entitled to funds as compensation for their efforts. 2. The executor is a named beneficiary of the will, a situation that often happens with couples.

Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.

Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.

Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.

Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.

When the probate process is completed and the court has signed off. The letters of authorization do expire as well.

It will depend on specific state laws and whether there are assets that need to go through probate. But in general, it is the contents of the estate that determine the need for probate, not the existence of a will.

Yes, if the executor approves. It needs to be beneficial to the estate to do so and at a market price.