What does it mean to be the executor and a heir?
It means they are responsible to administer the estate. They will also receive some of the estate as an heir.
Do you have to go to the court to be appointed executor of someone's will?
The Will must be approved and the executor must be appointed by the court or they have no legal authority.
The Will must be approved and the executor must be appointed by the court or they have no legal authority.
The Will must be approved and the executor must be appointed by the court or they have no legal authority.
The Will must be approved and the executor must be appointed by the court or they have no legal authority.
What am I entitled to if I am married and not in my spouse's will in California?
California is a community property state. Generally, anything that a married couple accumulates during the marriage is considered community property, that is, both spouses own an undivided share of the whole. Community property courts start with a strong presumption that anything acquired during marriage is a community item, the spouse claiming a particular item is not community property has the burden of proving otherwise. It is important to note that anything obtained before the marriage, kept separate, and a few other notable exceptions will not be considered community property
What does a joint account-no survivorship mean?
If an account is described as joint but with no survivorship rights then the funds would become part of the primary holder's estate rather than automatically passing to the other joint owner. That type of account is generally set up for purposes of convenience to allow one person to pay bills and do the banking for another person.
Can a beneficiary sue an executor?
He CAN, but why bother. The word "sue" just means ask, but in legal terms. When you sue someone, you're asking the court to make you pay. Rather than have someone else make you pay, why not just pay it if it's a legitimate debt? If you're unsure about the validity of the debt, why not seek legal advice.
When will you know if you are a beneficiary?
My name is Rodney e Chester and in 2009 or early 2010 I was made beneficiary of a policy by my grandfather Ben E Butler SSN 404-42-1347. He had me sign a document that needed my SSN and he had to get it notarized before sending it in. I wasn't sure of the policy his insurance was under after he passed on Aug,6 2010. I've been trying to get information from the company The Standard insurance company which was the insurance company his job used for life insurance. He was a deputy for the maricopa county sherriffs office in arizona. The standard said that I was the benefactor of his policy and gave me a claim number. They told me that I needed to get the policy from the Maricopa county sheriffs office and they would need to send the policy info to The Standard Insurance company. After contacting the sheriffs office about my grandfathers claim they told me that they have no paperwork on my grandfather at all. It was like he hadn't worked for them at all not finding any info or any work history on him at all. I don't know what to do or were to go can you please help me track this down please..... Thank You Rodney E Chester
Unless there is something I am missing (or do not know), it seems unusual for an insurance company to need the actual policy to approve a life insurance claim. The policy number should be enough. I would call them back and speak to a supervisor. I hope this helps!
Do adult children have any rights after parent dies leaving survivor deed to spouse?
I am assuming that the "marital home" was in the husband's name alone. Yes. In Massachusetts there is a provision where a spouse can waive the will and take her share as if there was no will. I am sure other states have the same provision, at least I hope so. Those statutory provisions make it difficult for a man to disinherit his wife.
Can the executor and alternate executor share duties?
Of course the alternate can volunteer to assist the court appointed executor in the fulfillment of her duties. However, the alternate has no legal power and will not be entitled to any compensation.
What is the current tax rate in the US?
This question is far too expansive to cover in any accurate way. There is a reason why tax lawyers and accountants have such difficult jobs, the US Tax Code (as well as the tax codes in most jurisdictions) are infamously complex. There are general things that we can say about taxes, though, in the US:
Can heirs contest the appointment of administrator in intestate estate?
Yes. The heirs-at-law should receive a notice of the time and date of the hearing for the appointment of the Administrator. The notice should contain some language about what they should do if they have any objections to the appointment of the person who filed the petition. There is a statutory time period during which an objection must be made and that too is recited on the notice. Anyone who wishes to object must follow those instructions to the letter.
If there are two executors of an estate what fee do they receive?
In my case, the probate lawyer recommended the executor's fee to the judge. It was a percentage of the estate. Two executors would have received half of that amount in this particular jurisdiction. In other areas different criteria apply.
No one should write a will with two executors. It is so much easier for one person to fill out forms and get stuff done. One person can write a check and divide a bank account between two people. One person can sell a piece of property and sign the deed. One person can split a stock account between two people. One signature is a whole lot easier to get than two signatures, especially when the other person is on an all around the world vacation and did not tell her brother where she was going.
If he did not have a will, states have estate laws on intestacy which means the person died without a will. Depending on your state, children may have up to half of the father's real property and half of personal property, and wife having dower rights. Those dower rights vary state to state, and some states have community property laws as well. I would seek the professional advice of an attorney that deals with estates and trusts and at least do a consultation. You can also search on the web for estate laws specifying your particular state and read their statutes.
Can an executor reimburse a beneficiary for funeral costs?
Most wills have a provision providing for payment of funeral expenses out of the proceeds of the estate. Check the deceased's will to see if this indeed is the case. If so, a beneficiary (or any other person for that matter) who pays the funeral expenses should be reimbursed. As a side note, the expenses associated with the funeral are usually deductible expenses when filing the estate's inheritance tax return. Check with either an estate attorney or the register of wills (or Orphan's Court) of the county where the will was probated (or will be probated). You should be able to get the answers you need from the register of wills.
you read a will when someone dies.
Contrary to what you see in movies and TV, there is seldom any sort of a formal will reading. The will is submitted to the probate court and they will appoint an executor to do what the will says, if possible.
Can assets be transferred to avoid probate?
Yes. Assets can be transferred by a person before they die. That is called estate planning and you should seek the advice of an attorney who specializes in that area of law. Once a person has died their estate must be probated if they owned probate assets such as bank accounts, investment accounts and real estate.
Would a daughter in law receive inheritance from her mother-in-law if her husband died?
Typically the wife, or daughter-in-law, would receive the inheritance. However, if there are stipulation placed on the inheritance then this may change. It is best to ask a lawyer who is involved with the estate.
How can executor of an estate buy out other family members on real estate?
First, the estate must be probated and the executor must be appointed by the court. Then there are different ways the executor can purchase the real estate.
They could petition the court for a license to sell the real estate with the executor as the purchaser after a fair market offer has been accepted by the beneficiaries. The executor would need to obtain the assents of all the other beneficiaries to the petition. The court would likely allow such a transfer. Another method would be for the executor could wait until the probate procedure has been completed and then purchase the property from the beneficiaries who inherited it and are now the legal title holders.
Either way, the executor should consult with the attorney who is handling the estate to make certain the transfer is done properly and title is passed legally.
Can an heir stop an executor from removing funds from the estate?
Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.
Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.
Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.
Once the debts of the estate have been paid and the costs of probating the estate have been paid the executor must make distribution.
Does the amendment to a will trust have to be notarized?
Yes, a deed must be notarized to make it enforceable and recordable. The requirement for notarization has been codified by state recording statutes. Some states require that a deed also be witnessed. You should call your attorney or land records office to determine what the requirements are in your particular jurisdiction.
Can a beneficiary also be a testator?
The maker of a will should take every precaution so as to make the will not vulnerable to challenges. The witnesses should not be related to you, and should not be a beneficiary. You should pick objective witnesses instead of a beneficiary, spouse or other relative.
Yes, in many states a witness to a will may also be a beneficiary. In some, a witness may not be a beneficiary. Depending on the state's laws, a witness-beneficiary might forfeit whatever he/she receives under the will, or, the witness-beneficiary might forfeit only so much of what he/she receives in the will that is in excess of the amount he/she would have received in absence of a will. The old rule used to be that a will witnessed by a beneficiary was completely invalid. That thinking changed over time because it is too harsh a remedy and is unfair to the decedent and to the other beneficiaries. Sometimes it is impossible to avoid having a beneficiary be a witness, such as when a person is on his/her deathbed and only a spouse or children are present to witness the will.
Still it is a good idea to avoid the situation if possible as it invites will contest litigation.
Does executor know contents of will?
Generally, yes. The testator should make the whereabouts of their will known to the executor in the event of their death. If the testator has died the executor has the right to take possession of the will in order to submit it for probate. During that process they can read the will before it is made public.
What is the difference between and executor and conservator?
A conservator is appointed by the court to manage the estate of a living person who is incapable of managing their own affairs. An executor is appointed by the court to settle the estate of a person who died leaving a will.
Do you have to pay inheritance taxes on a life estate?
I'm not sure that there is one. It depends on the transaction and the life estate, which can take many forms and cover many things.
Any beneficiary of a life estate has to pay taxes on what they inherit. It is based on the value of the estate at the date of death.
Life estates and taxes is an extremely complicated issue and there is no quick universal answer. You need to speak with a CPA (or two) for a professional opinion. See the information in the link provided below for a good discussion of the many aspects of taxation relating to life estates.
Where do you get a form to replace the executor of a will before death?
A testator can make changes to their will by using a codicil. A codicil is written in the same form as a will and should clearly explain its purpose: which provision in the will is being stricken or what provision is being added. The codicil must clearly state the added provision if there is one.
In the case of changing the named executor the codicil must state the section appointing (name) as executor is hereby stricken and is replaced with the appointment of (new name) as executor.
Wills and codicils should be drafted by professionals to make certain they conform to state laws. If legal documents do no conform to state law they may be deemed invalid.
Can the executor of the estate sell the heirs property?
In most cases the executor of a will by law has to liquidate all nonexempt assets to pay creditors. State probate laws determine which property can be sold to pay the deceased's debts. If it is thought an executor is mishandling an estate, the concerned party should seek legal counsel.