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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
Can the person having power of attorney override an executor's decision?
No, generally, an agent under a POA cannot make changes to testamentary instruments (wills). Once the testator has died the POA is extinguished and the named executor must be appointed by the court. Besides the testator, while living, only a judge can make changes to a testator's will.
The named executor must submit the will for probate and request appointment as the executor. Once appointed they will have the sole authority and responsibility to settle the estate. The executor should hire an attorney, especially if there is real estate.
The other family members have no right to interfere with the executor's handling of the estate unless the executor fails to perform their duties properly. They do not have any right to handle any property of the estate. The executor must follow the state laws that govern estates and the debts must be paid before any property can be distributed to the heirs. The executor will be eligible to charge a fee for their services and the fee is set by law. Any family member can monitor the progress by visiting the court and requesting to review the probate file.
Does the benificiary pay taxes on death benefit?
With regard to state taxes, it depends on the state in which you live. In some states, the death benefit from life insurance passes outside the estate and directly to the named beneficiary. So there is not tax. For federal tax The policy has a value at the time of death. That value is included in the estate,
When your step mother dies do you have a right to the family home?
That depends on how the property was titled. If your father transferred the property to himself and his wife as joint tenants with the right of survivorship and he died then she would have become the sole owner. Upon her death her children will inherit the property unless she executes a will leaving a portion to you.
Perhaps, it depends upon the probate succession laws in the state where the property is located. This would only apply if the stepfather does not leave a will indicating the beneficiaries of the property.
Can a Parent transfer their deed into adult child's name?
Yes, as long as they are not doing so to avoid judgments by creditors, foreclosure, judgment award for liability and so forth.
Can an executor buy property of the estate to pay the beneficiaries?
Yes, the executor has the duty to carry out the instructions of the will regardless of what any potential beneficiaries may want. There may be situations in which the executor must sell certain property in the best interests of the estate.
Of course, any questionable actions of an executor can be challenged in court.
Is there a time limit for settling an estate in Ohio?
No, there is no limit to settle an estate. It can take many years for a complex estate.
Can you be responsible for judgments against the previous owner of your property?
Absolutely yes, if you didn't make certain they were paid by the former owner before you paid for the property and took title.
Does an executor get anything from the estate?
The executor does not have to be a beneficiary. The court can appoint any responsible person to serve in that capacity.
Can a executor of an estate sell or give away items if the person is still alive and of sound mind?
Of course not. No one is an executor until they have been appointed by the probate court. No one is appointed by the probate court until the testator has died. Any person who gives away the property of another person should be reported to the police and prosecuted.
I hope you understand that there is no such thing as an executor of an estate of a living person.
Can a person build house on heir property without permission?
If a person builds a home on land that they don't own, the home will become the property of the person who owns the land.
Can an executor charge beneficiary for duties?
It's both reasonable and customary for executors to receive some compensation for their services, particularly if they're not close family or friends of the deceased. Normally they wouldn't bill the beneficiary, they'd simply deduct their fees and expenses from the proceeds of the estate.
Executor's fees are set by statute in most jurisdictions.
Where do you probate a will if it was executed in a different state than where the decedent lived?
The following is general information only. You need to consult with a local attorney who specializes in probate laws and who can review your situation and advise you of your options.
- If the decedent owned property in another state, other than the state where the will was executed, an ancillary probate must be done in the state where the property is located.
- Most states allow a foreign will if it is a valid will in the state where the decedent lived when the will was executed. Therefore, the will must be proved and allowed in the state of origin first and exemplified copies can be filed for the ancillary probate proceeding.
By Canadian Law generally the majority of heirs that agree over-rides the others as far as the selling of any property, but, the others who do not want to sell can seek legal counsel and you have a face-off in court. This can take many years to settle so normally most people come to an amicable agreement rather than wait for any monies due them. * In the US the owners wishing to sell the property would need to file suit against the reluctant owner to have the property partitioned so that each person would be allocated their share and would then be able to sell it. In some states the court can order a forced sale of the property regardless of whether all owners are agreeable or not.
Once an estate is filed for probate it becomes a public record. You can go to the court where the estate was filed and ask to see the file at any time during the probate process or after it has been completed.
What task does an executer do when settling and estate?
The duties of the Executor are too broad to write them all in this forum and they vary from state to state. Briefly, the general duties are the following:
- Safeguard the assets, changing locks if necessary until the will is presented for probate
- Select the attorney who will handle the estate
- Submit the will for allowance and petition for appointment as executor
- Publish notice and notifies heirs at law and beneficiaries
- (Once appointed) Open an estate account if necessary
- Assemble, Inventory and take custody of assets
- Notify Social Security and insurance companies of the death
- Pay the debts of the estate according to statutory priority
- Administer the estate according to the provisions of the will and state law
- File the estate tax return
- Distribute the estate
- File the final account
What are the rights of a beneficiary?
The "Rights" of a beneficiary are normally outlined by the will in place, taken in conjunction with state laws. If there is no Will, then state law prevails as to the rights of the estates inheritors.
What form do you use to give legal medical power of attorney for your children?
That type of power of attorney is also called a Child Medical Care Authorization Form.
When someone dies does the executor of the estate have to notify all possible heirs?
Depending on the process, most places require that to happen prior to appointing an executor. If the beneficiaries are not happy with the choice of executor, they can request the court appoint a neutral party. That can cost the estate a lot of money.
Is Life Estate part of the deceased's estate?
If life insurance is payable to a beneficiary other than "the estate of ...[the decedent]", proceeds are payable directly to the named beneficiary and do not normally become part of the estate. However, if the designation of beneficiary of the life insurance policy is the estate of the decedent, proceeds do usually become part of the estate.
What are the duties of an administrator of an estate?
The duties of the Administrator are too broad to write them all in this forum and they vary from state to state. Briefly, the general duties are the following:
- Safeguard the assets, changing locks if necessary until the will is presented for probate
- Select the attorney who will handle the estate
- Submit the petition for appointment as Administrator
- Publish notice and notifies heirs at law and beneficiaries
- (Once appointed) Open an estate account if necessary
- Assemble, Inventory and take custody of assets
- Notify Social Security and insurance companies of the death
- Pay the debts of the estate according to statutory priority
- Administer the estate according to the provisions of state laws
- File the estate tax return
- Distribute the estate
- File the final account
The widow can write a new will or simply have her attorney draft a codicil that names a new executor. The codicil should be drafted and executed with the same formality as a will and attached to it.
All executors, whether named in a will or not must be appointed by the court in order to exercise any powers as an executor. In general, if the executor named in a decedent's will has died and no alternate was named, the court will appoint an executor.
When will the meek inherit the earth?
Writing as an evangelical Christian and follower of Jesus myself, I answer this question based on biblical interpretation. There is a large forward looking sense in the beatitudes blessings. For example, the "pure in heart" will "see God". Christians will not literally "see God" until the end of time in the new reality at the end of time. (Revelation 22:3-4 "...there will no longer be any curse, and the throne of God and of the Lamb will be in it, ...and they will see His face....) As like "seeing God" ... the meek (humble, dutiful, obedient, teachable) may not inherit the earth, until after the curse is removed. The curse of the land, See (Gen 3:17..."cursed is the ground because of you... in toil you will eat of it..." The curse if removed in the end of time as we know it. That is: biblically speaking after the 1000 year reign of Jesus, and after the final rebellion of Satan and after the final judgement. At that time a "new heaven and new earth" are created by God. Jesus followers ihnerit the new earth. Jesus who spoke to his followers present, in Galilee in this sermon, that "the meek will inherit the earth" also said later to John, one of his followers present, in a vision where an inheritance of the earth is mentioned. John is speaking in Revelation 21:1 "Then I saw a new heaven and a new earth… the first earth had passed away, and there was no longer any sea…" Revelation 21:7 …. He who overcomes will inherit these things, and I will be his God, and he will be my son…" So, in the new earth that God creates at the end of time, Jesus followers will "inherit" the new earth. By: ralph_fry@yahoo.com
This can become complicated and should be handled by professionals. Someone will need to start the probate of the father's estate immediately, so that debts can be paid (including taxes), and father's remaining assets collected for distribution according to intestacy laws of the local jurisdiction. The grandmother's estate will need to be settled within a short time, to determine if the father's estate has anything coming, not to mention dealing with anyone else who has a statutory claim to part of that estate.
