It is possible that the Probate judge will see that outstanding debts, especially past taxes, are paid until all funds have been depleted. You may end up with nothing, prepare yourself for bad news. First contact his creditors and try to negotiate with them on the balances, some may even agree to write off his remaining debt.
This is such a common cause of estate litigation, because such jointly owned property may be taken from the joint owner and put into the estate under certain circumstances. You most probably will need a lawyer if only to explain to you those circumstances. Then you can judge for yourself with the lawyer's advice whether or not the CDs belong to you. Most likely the siblings will continue to demand those CDs and if refused, may file a complaint against you to recover them. If it goes to court, you should have a lawyer represent you.
The Estate assets (the deceased's home, car, savings, etc.) must be used to pay for all debts in the deceased's name alone. The debts must be paid before any inheritance is paid out. The grandchildren do not need to use their own money to pay a debt that is not in their name.
No. The foreclosure of your individually owned real estate will not affect the estate you are administering. However, your creditors may go after any inheritance you may acquire if they find out about it.
It depends entirely on if there was a Will and what the Will provides. It may have a clause that the beneficiaries have to survive the deceased by a certain period of time.
Otherwise, their share goes into their own estate. It may very well be that the other heirs are going to be beneficiaries of that estate as well.
If the decedent died owning property the estate must be probated.
If there is a will the person who has it is obligated to produce it in a timely fashion. If the will does not surface, a qualified person can petition the court to be appointed the Administrator of the estate. The Administrator will have the sole authority under the supervision of the court to take possession of the estate, pay the debts of the decedent and distribute the property according to the laws of intestacy as if the decedent die without a will.
A Petition for Administration is often a motivation for the person who has the will to produce it. If they don't, the property will be distributed fairly to all the heirs-at-law according to law. You can check the laws of intestacy for your state at the related question link provided below.
How often can you renew a caveat?
My understanding is that a caveat is generally valid for a period of six months unless it is withdrawn by the person entering the caveat (caveator). Before the the six month period expires the caveat must be renewed and will remain in force until it is removed by the caveator or as a result of a successful court action by the executor. In certain circumstances the caveat if constantly renewed can go on indefinitely.
Another PerspectiveA caveat in one sense is a formal notice that an interested party files with the proper legal authorities, directing them to refrain from rendering a decision in an action until the party can be heard.
It depends on the nature of the caveat and the jurisdiction. A will caveat is effective for a limited period of time in most jurisdictions and that period varies. A person who files a caveat cannot be allowed to delay adjudication of the case forever.
For a definitive answer you need to check the type of case and the laws in your jurisdiction.
Can a spouse go to the court and get a copy of the will if he is not named executor?
Once the will has been filed with the court it becomes a public record and anyone can obtain a copy from the court.
Once the will has been filed with the court it becomes a public record and anyone can obtain a copy from the court.
Once the will has been filed with the court it becomes a public record and anyone can obtain a copy from the court.
Once the will has been filed with the court it becomes a public record and anyone can obtain a copy from the court.
Can lay person contest will without an attorney in Mississippi?
Yes. You must know what grounds can be used as a basis for the contest and what evidence will support your claim. You must make your objection in a timely manner and file the proper forms on time. Then you must explain your objection in a business-like manner at the hearing and submit your evidence.
Do you have to give a deposition for probate?
It depends on the situation. There may be depositions regarding the desires of a testator, their mental state and the signatories of a will. It may also be required for a mental competency hearing.
No.
If the value of the estate is low, probably none. The taxes are based on the value of the estate and most require at least $100,000 before there are any.
What is the difference between an independent executor and an executor?
An independent executor is one who works independently from the court. A dependent executor must seeks the court's permission to perform most acts, such as selling property, borrowing money, or distributing assets.
A person or entity could be either dependent or independent. For example, a spouse would typically be independent, but might be dependent if there were controversy in the case. The test is usually whether there needs to be court oversight.
Please be aware that each state has different laws on this subject. The above specifically refers to Texas, but is fairly general. Some states might be quite different.
Is the POP of a deceased person obligated to pay off any debts if the estate has no money?
No they are not personally responsible for the debt. One of the primary reasons to open an estate is to resolve such debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Can a named executor of your will obtain a death certificate even if not a relative?
The executor has to have a copy to execute the will. It will be part of the petition to the probate court. And the certificate is a public record and anyone can obtain a copy.
Can an executor have the attorney change a will without written consent?
No, the executor has no right to change a will. Only the testator can change a will.
Are bank accounts or CD accounts of a deceased person considered personal property?
Yes, bank accounts are personal property.
What is the time frame for contesting a will in PA?
The time frame for contesting a will in Pennsylvania is one year. That time came be extended by a judge if the case warrants.
Yes, a will is a will regardless of wether the person was a legal or illegal immigrant. As long as it was executed according the the laws of the state it is being probated in and the will is allowed by the court, their immigrant status should not matter.
What is used to calculate 6 percent estate executor fees monies home value bank accounts?
This response may not apply to your country, state or province but here is a response from my experience in Ontario, Canada.............. Certain criteria have been applied in many cases when fixing the compensation of Executors. # magnitude of the Estate; # care, responsibility and risks assumed by the Executor; # time spent by the Executor in carrying out his or her responsibilities; # skill and ability required and displayed by the Executor; and # results obtained and degree of success associated with the efforts of the Executor. Although the above factors provide some guidance in terms of what criteria should govern the calculation of Executor's fees, they do not provide a clear method for arriving at a value for the Executor's compensation. Hence, in an effort to develop some consistency and predictability in the determination of Executor's compensation, a court recognized guideline has evolved. It must be recognized that this is only a guideline and is subject to increase or decrease in appropriate circumstances and may also be disregarded altogether in favour of another approach. The guideline applies percentages to various categories of the Estate receipts and payments and is expressed as follows: * 2 ½ % of the total value of capital receipts of the Estate * 2 ½ % of the total capital disbursements of the Estate * 2 ½ % of the total revenue receipts of the Estate * 2 ½ % of the total of revenue disbursements of the Estate * Annual fee of 2/5 of 1% of the average annual market value of the capital of the Estate Despite the guidelines, courts still require evidence to justify the quantum of compensation claimed by the Executor. This evidence can include time dockets or estimated time logs. In a number of cases, courts have awarded an additional allowance to the Executor where the administration of the Estate was made more difficult than usual by reason of conflicting interests among the beneficiaries; where the Estate has involved the management and operation of a company; or where litigation was initiated by the Executor on behalf of the Estate. On the other hand, courts have reduced the Executor's compensation from the guideline amount in cases where a large Estate which nonetheless was simple to administer was involved or where specific assets were being transferred.
What government agency would have a list of deaths?
Each state's Bureau of Vital Statistics maintains a record of deaths registered within the state.
You need to file Will and Petition for Appointment in local Probate court.
There will be a section of the will that discusses the remainder. That will apply to the leases.
Can a surviving spouse refuse to have will read?
The reading of a will, though a wonderful literary device (particularly in English murder mysteries), is of no legal significance in U.S. jurisdictions.
A better question is whether the surviving spouse, though in possession of his or her deceased spouse's original will, can refuse to submit the will to the probate court. The answer is yes, though it requires some explanation.
If all the decedent's property was held in joint tenancy with the surviving spouse (a common arrangement in most jurisdictions), then there is no need for a probate proceeding to determine ownership of the property. By filing a copy of the death certificate with the appropriate authorities (usually the county Recorder for real property, the bank itself for checking, savings and CD accounts, or the brokerage house for stocks and bonds held in a brokerage account), the surviving joint tenant acquires sole ownership. If all property was held in such a fashion then there is no need for a probate proceeding and no obligation to file the will with the probate court.
Another person could initiate a probate proceeding even without a copy of the will. Once the petitioner gave the surviving spouse notice of the proceeding he or she might find it to be in his or her best interest to file the will with the probate court -- though if he or she was confident that there was no property belonging to the decedent there might not be any incentive to respond to the probate proceeding even then. The petitioner who filed the probate proceeding might then have wasted filing (and lawyers) costs; it is even possible that additional costs could be assessed against the petitioner if it turned out that he or she knew or should have known that the proceeding was unnecessary.
Generally, a conservator's authority ends at the time of death of the ward. An administrator must be appointed to settle the estate.