Estates

Debt(s) are not the responsibility of a surviving child or family member other than a spouse which in this case is not applicable. Whatever amount is in the estate that is not exempt under the state law will be used to pay any outstanding debts according to their priority. Secured creditors are always paid first, unsecured debts such as credit cards are considered low priority and if there are no funds available for payment the debt is considered uncollectible. Be advised that there are those unethical creditors who will attempt to coerce surviving family members into taking responsibility forthe deceased debts, they are NOT legally obligated to do so.

== == In Massachusetts, creditors have 1 year from the date of death to notify the executor or administrator of the estate of the outstanding debt. This has just happened to me in North Carolina: My attorney ran it in the paper for 30 days and that was all. In Kentucky, an estate has to remain open for a minimum of 6 months for the purpose of allowing enough time for creditors to come forward and make claims against the estate for debts. If it has been charged off the estate, they are merely harassing you.

The Excutor is responsible for damange to all property, keeping records of spending for funeral costs, etc., out of the Estate. Technically, the only people that should be allowed on that property is the Executor and the beneficiaries or a real estate agent. Eventually the Will goes into Probate where all creditors will be paid off, all property taxes, personal taxes, etc., and what is left in the Estate will be divided amongst the beneficiaries. It is also customary for the beneficiaries (if not mentioned in the Will) to give 1 1/2% - 3% (can go up to 5%, but a judge would question this) to the Executor of the Will. Being Executor can be a tough job and lots of red tape even if the Estate is on the small side. If the Estate is small then 1 1/2 - 2% is customary, and if it's a large percent then 2 1/2% - 3%. The Executor can have friends on the premises, but is 100% responsible for any damage or missing articles from that Estate. The Executor should let the beneficiaries know, and thus, the beneficiaries should let the Executor know if they have friends on the property. It's a good idea to take a video of each room, any jewelry, art, etc. before anyone goes onto the property besides the Executor or beneficiaries.

The estate of the deceased pays the bills. The estate is required to advertise for debts and bills to find the full extend of what is owed to all creditors. Once that is resolved, the remainder is divided up according to the will or the intestacy laws.

wel, if such an unfortunaute thing were to happen the first people that SHOULD be contacted are anyone who is very close in the family such as a husband/father/, sister/brother. if none can be reached, anyone outside of the family (i.e uncle, grandfather,aunt, grandmother)

In the US a surviving spouse is responsible if the married couple resided in a community property state or the spouse accepted the responsibilty by signing a written agreement. If such is not the case and the deceased had no unexempt assets that can be used to pay medical expenses the debt becomes null and void. Surviving children or other relatives are not responsible for the debt unless they signed a written agreement accepting responsibility.

If the will has been filed with the court, petition the court at the office. It usually will cost duplication fees. If the individual is still living, you cannot.

Yes, if the sale is made according to state law. A court appointed personal representative must sell the property while the estate is "still in probate". After the probate procedure is completed the estate has been distributed and they no longer have any authority.

• Usually free legal sites that give out the rules and regulations of the law, or your government site, will give you information on how to go about it. Or you can write your own will, which is very legal and have it notarized by a Justice of the Peace, your Post Master, a Lawyer, your Minister, Priest, your religious leader , or any legal person.

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The Executor is entitled to a fee for services performed. Under New Jersey law, the Executor of an estate is generally entitled to the following commissions: a. 6% on all estate income; b. 5% of the estate up to $200,000; c. 3.5% on excess above $200,000 up to $1,000,000; d. 2% on excess over $1,000,000 or such other percentage as the Superior Court may determine. There are different rules for commissions when there is more than one Executor, or when the Executor has rendered unusual or extraordinary services. In some cases family members may choose not to accept (waive) fees. However, a decision to waive fees should be made only after the legal (who will get the money) and tax (what is the cost of the lost deduction) issues are considered.

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You need to open an estate with the probate court. You can usually get a packet of the required forms at the courthouse. One of them will be a form asking to be appointed as the executor. The court will then accept the form and issue a Letter of Authorization which gives you the power to do the work necessary.

The executor of a will is the person responsible for making sure the wishes of the testator are carried out. They are responsible for paying off the debts and distributing the assets. They also have to pay taxes and file the appropriate reports with the probate court.

Most property liens, except local tax liens, expire after the statute of limitations has run. You would need to check the laws in your jurisdiction for the particular lien to determine how long it can be effective.

Executor's fees (the fees which the personal representative may receive from the 'estate') are controlled by contract, agreement and expressed in the will or separate documents. Or the Georgia statutes spell out the pay schedule.

(a) Personal representatives shall be compensated as specified in either the will or any written agreement entered into prior to the decedent's death or a written agreement signed by all the beneficiaries of a testate estate or all the heirs of an intestate estate. A written agreement between a testator and a personal representative shall be valid and binding upon the estate of the testator as fully and completely as if set forth in and made a part of the will.

(b) If the personal representative's compensation is not specified in the will or any separate written agreement, the personal representative for services rendered shall be entitled to compensation equal to:

(1) Two and one-half percent commission on all sums of money received by the personal representative on account of the estate, except on money loaned by and repaid to the personal representative, and 2 1/2 percent commission on all sums paid out by the personal representative, either for debts, legacies, or distributive shares;

(2) Ten percent commission on the amount of interest made if, during the course of administration, the personal representative shall receive interest on money loaned by the personal representative in that capacity and shall include the same on the return to the probate court so as to become chargeable therewith as a part of the corpus of the estate;

(3) Reasonable compensation, as determined in the discretion of the probate court and after such notice, if any, as the court shall direct, for the delivery over of property in kind, not exceeding 3 percent of the appraised value and, in cases where there has been no appraisal, not over 3 percent of the fair value as found by the judge, irrespective of whether delivery over in kind is made pursuant to proceedings for that purpose in the probate court and irrespective of whether the property, except money, is tangible or intangible, personal or real; and

(4) In the discretion of the probate court, compensation for working land for the benefit of the parties in interest in no case exceeding 10 percent of the annual income of the property so managed.

(c) Whenever any portion of the dividends, interest, or rents payable to a personal representative is required by law of the United States or other governmental unit to be withheld by the person paying the same for income tax purposes, the amount so withheld shall be deemed to have been collected by the personal representative.

(d) Unless the will or written agreement specifies otherwise, where some or all of the estate passes through the hands of several personal representatives by reason of the death, removal, or resignation of the first qualified personal representative, or otherwise, the estate shall not be subject to diminution by charges of commission of each successive personal representative holding and receiving in the same right but rather commissions for receiving the estate shall be paid to the first personal representative who receives the property for the benefit of the estate or that person's representative, and commissions for paying out shall be paid to the personal representative who actually distributes the fund, and no commissions shall be paid for handing over the fund to a successor personal representative. If there is more than one personal representative serving simultaneously, the division of the compensation allowed them shall be according to the services rendered by each.

(e) Unless the will or written agreement specifies otherwise, a personal representative is entitled to receive commissions on debts, legacies, and distributive shares paid to that personal representative in the same manner as commissions to which the personal representative would be entitled under the terms of the will or written agreement or applicable law on such items paid to others; provided, however, a personal representative shall not be entitled to any commissions for any sums paid to any personal representative of the estate as commissions or other compensation.

(f) Personal representatives who fail to make annual returns as required by law shall forfeit all commissions for transactions during the year within which no return is made unless the probate court, upon cause shown, shall by special order entered on the minutes relieve them from the forfeiture.

(g) A personal representative may renounce the right to all or any part of the compensation to which the personal representative is entitled under this Code section.

Additional information:

Usually 3- 5 % of the estate, although the amount is subject to considerable variation.

The threshold is at the 1 million level. It has remained that way since 1989 when mansion tax was added by governor Mario Cuomo.

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It varies from state to state. Most states have a minimum amount of time for an estate to remain open. This is to insure that all creditors have an opportunity to file claims against the estate. Usually the absolute minimum is 90 days. A year is certainly not unreasonable. There are some estates that have been open for decades! These are the exception and usually deal with millionaires and publishing rights. The probate process can take anywhere from three months to three years or more depending on the number and type of assets which need to be distributed in the probate estate. Additionally, liens and creditor claims against the estate can add weeks or months to the process. In many cases the probate of an estate can extend far beyond the generous time line for distribution laid out by the executor or probate attorney.

The court can appoint a successor. Family squabbling cannot be allowed to stop the probating of the estate.

The court can appoint a successor. Family squabbling cannot be allowed to stop the probating of the estate.

The court can appoint a successor. Family squabbling cannot be allowed to stop the probating of the estate.

The court can appoint a successor. Family squabbling cannot be allowed to stop the probating of the estate.

4 months 25 days

Not necessarily. Depending upon the size of the estate, if the deceased owed debts and if any of the assets or property of the estate is subject to taxation, probate action may be required. The surviving family members should not transfer, sell, gift or in any manner despose of any property or assets belongin to the deceased until they have determined the status according to the probate laws of the state,

Unfortunaly South Africa is way behind....it's not only 3rd world, its prehistoric!! Unless you go through the home affairs department, there is no other way. That's if you're luck enough to have someone answer the telephone. Good luck.....

Any natural beneficiary of the deceased has standing to contest the will. Beneficiaries of a previous will may also have standing to contest it. You will need to talk to an attorney in your state to work on the process.

A guardian must be appointed by the court to manage any property owned by a minor. The guardian would manage the property under the supervision of the court. If the guardian wanted to sell the property, the sale would need court approval and the proceeds would be placed in trust for the child. The child could take over management of the property or proceeds at the age of eighteen.