Estates

This question has several answers depending upon what the will says and what the inheritance tax laws of the estate's jurisdiction say. In New Jersey at least, the "inheritance tax" is a tax on what a person inherits from the estate. For this reason the tax is payable by the person who inherits the property. Despite this rule, a person may provided in his will that the estate shall pay all inheritance taxes that have to be paid. It's the decedent's choice; but if the will says nothing about the estate paying the inheritance tax, then the beneficiary pays it. Its very important to check your particular state's laws on this matter. Sometimes this issue is unclear and gets decided on the basis of very subtle language in the will. That's when lawsuits start. See a probate lawyer who has experience and knowledge in how past court cases have decided cases like yours. Plus, if you are the person making the will, and you want one way over the other, then be sure your will is drafted with the proper language so there is no mistake later on. And just in case I misunderstood what the questioner really wanted to know, let me add this. A joint bank account will probably be treated just as if it was given to the surviving joint owner via a will. Joint bank accounts, "in trust for" accounts and "payable on death" accounts might incur inheritance taxes just as if the accounts had been given by a will. There is this exception to that rule: The inheritance tax on a joint account is calculated only to the extent that the money in the account is the decedent's. If two people each contribute half of the total amount of the account, then the survivor would pay inheritance tax on half the account. If the decedent is the only contributor to the account (meaning all the money in the account is the decedent's) then the inheritance tax is calculated on the entire amount. Again all depends on that state's laws.

If the will only gave life estates to two children, then upon the deaths of those children, the home would go to the persons who receive your mother's residuary estate under the will.

Typically the spouse will inherit the property of a deceased spouse. A will may assign things to other beneficiaries. Consult a licensed attorney in the state in question.

Each individual needs a will or standard procedures dispense the estate of the diseased.

In some states the money will go the estate of the deceased winner.

Given the question, the my opinion is that the question is the rethoricial: how much wood can a wood chuck chuck? To adjust the question: 1) how much money can an indivual person give another individual without being required to pay gift taxes, or file a gift tax return? 2) How much money does a parent have to give a child? And then, all, is good idea, on the otherhand, none workes in most states. On the other hand, if the question merely deals with annual tax free gifts: on $10,000, without the filing of a gift tax return, nothing. Obviously, it deals with your situation, if you got that much money to worry about taxes, and such, why dont you just get a tax planner or an estate planner? Or seriously spend some time on the web asking lots of quetions, and understanding that paying for advice is cheep when you need it. Nothing personal, but from the quetion, you appear to me to be seriously penny wise and pound cheep. (I'll be back with links later)

Yes she can

Try the below steps. I hope that this helps. Good Luck

1. If you have access to their personal records, go through old bank statements or canceled checks to see if they paid any insurance companies.

2. Did they have a personal lawyer or accountant who may have known about any old policies?

3. Talk with a past employer about any group life insurance policy that may have existed.

4. Get in touch with the Medical Information Bureau. They track all requested medical records by insurance companies for the past 7 years. So, if they took out the policy during this time period, most likely the MIB will know about it. You can find more information about them online.

5. Look at the mail that continues to be delivered after the person's death. If it was a policy that was still being paid for, you'll see premium notices.

6. Look at income tax returns to see if interest dividends on any life policy were claimed.

7. Contact find lost life insurance policy through their website. They will do a search and find the policy for you.

There is no time limit on claiming the benefits of any missing life insurance policy that you are the beneficiary of. It can be 25 years later and the company will still pay you the proceeds.

It will not go into probate if the house was purchased by them as husband and wife as tenants by the entirety or as joint tenants. Both spouses own whole interest together so that when one person dies the survivor becomes the sole owner. The deed does not even have to be changed.

This question has many implications and possibilities. For example, if the beneficiaries had been living in the house and created a mess, then they may have to clean it or pay for the clean-up. Even if the beneficiaries were responsible for any mess, they cannot be ordered to do the physical work. Slavery was abolished long ago. Another item to consider is whether the trust document itself requires that they themselves clean the house. But even there, no one can make them do the work itself. There would probably be some penalty against them if they refused to do something the trust ordered them to do.

The executor of the will is the person appointed by the court to distribute the estate according to the terms of the will and the state probate laws.

big bank big bank

Contact the mortgage company. They may work out a new loan in your name. It may be necessary to contact an attorney about your rights in your specific state.

They don't. He has no right to do so. However, what he needs to do is to open an estate. If there are no objections from other possible heirs, he can be appointed as executor. The executor (whether it is a volunteer or court appointed) will be given a letter of authorization that will allow them to access all of the resources of the estate. There are requirements for record keeping and notification of others, as well as reports that have to be filed with the court. And the executor can be paid for their efforts. Consult a probate attorney in your jurisdiction for further information.

U have no friends

If one dies with no assets, not impossible in a small estate, then as a general rule there is nothing to pay debts with period; a credit card creates a debt; when a person dies, his estate is supposed to be distributed according to specific state rules; the rules create an order for the distrubution of assets. Where there are no assets, obviously the rules of order dont apply. In most of the states in the United States of America, debts which are incurred (gotten) in the name of a dead person while alive are debts to the estate, not to the living, unless there is a certain kind of fraud and it can be shown. In less than lofty language, as a general rule, where there are no assets, creditors eat the debt. (Which is one of the reasonx, creditors tend to limit debt to that which they feel comfortable in expecting to get back.For example, in this particular economic and financial climate, creditors and lenders are more interested in what they get back rather than what they get. In short, if the dead owe the debts, then the creditors have to look to the dead for the debt. Not the living....

GST or Goods and Services Tax, is a tax which combines various indirect taxes being charged by Central and State governments, which resulted in multiple receipts/payment/compliance being needed for multi-state business.

GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India (Except state of Jammu and Kashmir), to replace taxes levied by the central and state governments

The executor's fees in Florida may vary. However, generally the executor's fees in Florida are around 1.5-3% depending on the amount of money.

You can pay funeral expenses out of an estate. You are allowed to be reimbursed for these expenses when the estate is being settled.

Generally speaking, a lawyer may not represent both sides of a dispute. In the event that two clients on retainer came into conflict, the attorney would normally be obligated to recuse himself from the case.

Consult the Bar Association in your State/Province for the exact policy regarding conflicts of interest.

For stocks and bonds it is simply a matter of looking up the prices for the date. For other items such as property, it can be evaluated currently and the price adjusted based on the local market.

Usually, the bank that takes over will issue new stock certificates in the name of the bank that took over the other one. Those can be sold as any other stock. If the take-over bank has not done that, for example if the new bank did not know where to send the new certicicates, then just contact the bank to request that new stock be issued. You may also be able to just contact a stockbroker who might be able to do all of this for you.

No, but I am making 2 assumptions. I take it that the sister's executor is the mother's beneficiary. I also assume that the mother survived any survivability period that might have been imposed by the will or statute. That being so, the property has vested in the mother, meaning it has become her property now. The only person who can transfer the deceased mother's property is the mother's executor. The correct procedure is for the sister's executor to make an executor's deed to the mother. Then the mother's executor will make a deed to the son. The fact that the mother died before the sister's executor made the deed to his mother does not deprive the mother of the property. The only way the property would not become the mother's is if the will required her to survive the sister by a certain period of time (as many wills do) and she failed to do so. But what happens then creates another problem which I won't go into here. Lastly, as always in probate matters you must check the laws of the state the probate is in.

The average price for land in Mississippi varies based upon what type of land you are interested in. The average range from simple land to land which is rich with timber is between $800 and $3,000 an acre.

the beneficiary in a trust is the person whom benefits from that which is held in trust.