Estates

The only thing you can do is petition the court. But you might want to consult an attorney. The executor is entitled to be paid for the work they do.

Real property held as JTWRS does not enter probate procedure nor is it subject to creditor attachment unless the surviving owners are joint debtors. If there is a mortgage with outstanding balance or the house has been used as collateral to secure a loan, the surviving owners are responsible for the debt or the lender can foreclose on the property, regardless of the wording of the title. The property itself is the collateral for the loan and the lender is the lien holder of the property until the mortgage/loan is paid off.

The estate has to pay all of the debts off if at all possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.

You most likely won't have Federal Income tax on your inheritance. More because generally the tax due, (if any as there are now a number of exemptions) is paid under the Estate & Gift Tax provisions, which interlink with the income tax provisions. (Yes, there are any number of taxes due on gifts and winnings, or just the finding of money. Also, always keep in mind the State income tax implications may be different than the Federal.

The whole Gift, Estate & Inheritance taxes arena can be a complex field, requiring calculating lifetime exemptions, etc. Review the link provided and the further links to the sections that seem relevant to your situation.

Bottom line, whether you can live there will depend upon who is the legal owner and whether they want you to leave. The house should have been part of the uncle's estate and an executor would have had the deed changed to the aunt's name, as she may be the sole heir to the home under the local laws of intestacy, but often only if there were no surviving children (they might get half). On the aunt's death, her estate would have the property and distribute it in accordance with the intestate laws in her state of residence. Chances are that you wouldn't get the property without a will, but it is certainly possible, particularly if there are no children or other closer living relatives (i.e., parents, siblings, grandparents, cousins, in the order prescribed by law). In many states the deed would not necessarily be changed until the house is conveyed by sale, as probate and divorce records are part of the title. Also, if it were a community property state, then different rules would apply.

In the state that I live in (IN) as long as the co owner is on the title of the van then the cowner can take possesion upon death(bc he\she already owns it) That way it doesnt have to go through probate and such. We just went through this prob with my mother-in-law and my wife. We have my mother and law's van now. I hope this helps you.

An executor of the estate does not have the right to "take everything". Rather, the executor has the responsibility to execute the will of the person who died. If the deceased had no will and no immediate relatives, it gets more complicated.

The exector of her Estate should contact you.

Yes. Perhaps it helps to consider the estate of a deceased person is essentially the legal way to keep him alive until his affairs are settled. Once all that is done, the resolution of the estate is really ending his legal requirements (and I guess he can rest in peace).

No. The Will goes into Probate and all monies and properties, etc., are called the Estate. All creditors are paid off and what is left in the Estate is called "residue" which will go to the Heirs.

If the estate has no assets, then technically no one is responsible. If the hospital (or whoever the money is owed to) decides to sue, they'd be suing the estate, which has no money, which is just pointless. The family can pay for the medical bills, but I don't think it's necessary. If you are the Executor of an estate, you should probably meet with an attorney anyway.

This is the reason to create an estate. It provides an opportunity to gather all the debts, pay off whatever the estate can pay off, and have the rest officially closed off so that the debtors don't keep bugging the family.

I don't have an answer but a suggestion, you might want to ask an atorney, because I think if your mom past away and she left property her children inherit them and the credit cards can't do anything about unless they put liens on the property. But your best bet is to calculate the credit card debt and then find out how much the property is worth and if the debt is bigger than the property value contact a atorney they won't charge you for a question over the phone. a simple question. My mom passed and from my experience no body can intercept with an inheritance not even your spouse when you divorce. I believe the pragmatic answer, and there may be a different more strict legal one, is that she has been dead long enough and the estate resolved that the past is the past. That said, my real concern would be that this unknown find that your being told about...and especially the contention that it means you now have money coming to you, is very suspecious. This is a not too uncommon type of fraud ploy done by scammers. DO NOT SEND THEM ANY MONEY...as a retainer, to close the deal, etc., etc. (By the way who sold the property if your mom was the owner? Why didn't they keep the money? Who has been paying the taxes on the property for the last 6 years? And yes, the tax department was sending notices...you/she didn't receive them? Sold to pay them - so they couldn't find you when they wanted tax money, but now that they have it to give you they can? No record she ever owned it or paid a bill on it? This smells!) Contact another independent attorney in the area the property supposidly is in...or where the attorney contacting you claims he is and tell them your story before you do anything else. This new attorney will likely give you a free consult, and be able to confirm easily if the other attorney, or property, is real.

they are fighting for our country so hopefuly a whole lot . they love the usa there the best heros every! kdb23

Someone else will be appointed the executor. The probate court will appoint someone, usually a bank or attorney, if no one 'volunteers' to do the work.

How do I get information on a pay out on my fathers insurance policy made on July 2012, where all 5 siblings were named beneficiaries .

It usually means that an adult has opened an account for a child and has the ability to add/subtract or "control" the account for the child. Can also be for adults; ex-when a large amount of money is involved and custodian wants to limit beneficiary's access. Basically, someone besides the account holder who has access to and can change said account.

== == no.

== == == == == == Yes, there is a chart but I had to get the calculations from an Estate Attorney. I can tell you what my life estate is worth... I am female 55 years of age. My factor is 0.69039 Which means: If my property is worth 1,000,000.00 my Value is $690,390.00 If my property is worth $ 500,000.00 my Value is $345,195.00 I hope this helps, but I have no idea how the factor is determined other than a chart that the legal system possesses. It is determined on your sex and age, which gives a life expectancy. I would add this: These numbers come from what are called "mortality tables". Most states have adopted them to compute inheritance or estate taxes. This means you can find them in the state laws or regulations. They are also used by insurance companies.

No, the joint tenancy only refers to the deed. You would have to rearrange the loan, perhaps by refinancing it. This is something you both should discuss. One possibility is for you each to buy term insurance in the amount of the outstanding mortgage so that the survivor could pay it off.

Yes, the executor can also be a beneficiary of the Will. Also, in most jurisdictions the executor can be paid from the estate for their services up to a certain amount that is generally set forth in the probate laws.

The estate is responsible for all debts. Please consult a probate attorney for specifics on how to open an estate.

There is an estate! If you haven't opened one, you should. The estate is responsible for the debts. Consult an attorney for the area that you live in for specifics.

Absolutely. Get the help of a lawyer. Consider an irrevocable trust with beneficiary named as one option.

A charitable lead annuity trust is a type of account that specifies a certain amount of money to go to a certain charity every year. This type of trust can be either vivos or testamentary.

when opening an estate there are a few steps to follow:

-if not already done , organize and prepare an alfadavit of execussion

-you will need an application grant

-proof of death

-fee's

-if securcity is required, bond documents.

1.the first thing is to advertise the death in the royal gazette , this is a law magazine which lawyers and bankers use.

2. send notices to interseted people, people names in will , satatutory interersts , those their.

3. determine and gather assets , figure out what they own and there assets.

4. open an estate bank account- locate all money in all bank accounts and open one bank account which will hold all the estates money.

5. secure real estate- make sure it is in trustworthy hands, and it is secure.

6. secure physical assets according to need.

hope this helps..karissa