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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
What rights do one have to property if you are not married?
If you are not on the deed you have no rights in the property. If you are not legally married and the owner dies you have no legal rights in the property.
What is the statute of limitations for contesting a will in the State of Georgia?
Just from my recent rxperience, in Georgia's I believe the staute of limitation is six months. I say this because that's how long I required to run a probate ad in the local papers.
Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.
Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.
Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.
Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.
What is the Executor's fee from an estate in New York?
The commission rate in New York is fixed. For each Executor (there can be two, if more, they share the same amount as two would get) it goes like this:
- 5% on the first $100,000 in the estate
- 4% on the next $200,000
- 3% on the next $700,000
- 2-1/2 % on the next $4,000,000
- 2% on any amount above $5,000,000
The will can state that the executor must waive the fee, but this means that no bank or attorney will serve. It is only recommended if the executor will inherit from the estate.
What happens when your sister is the executor and she has spent some of your mom and dads estate?
These are only some of the things an Executrix can do:
Borrow off the amount in the Will that is solely left to them. They must provide the bank a copy of that Will before loaning any money. This means you get part of or all of the money due you sooner, but you must sign over your rights of that portion of your inheritance to in the Will to the banking institution.
Paying off gas/electricity bills, etc. Any outstanding medical fees can be paid off by the Executrix in this case.
An Executrix/Executor must provide receipts for every cent they spend and be accountable to the the Heirs in that Will.
I suggest your get yourself a lawyer and have him take care of this if you fear she may be spending too much money and not being accountable for this. You can also go to the lawyer that is holding your parent's Will and be sure you have proof your sister isn't spending money on needless things and thus, have her taken off the Will as Executrix. This Will then can be dealt with solely by the lawyer or by a Trust Company. Be sure you know what your fees are up front with either of these methods.
No. A parent has no responsibility to their adult children. There is no requirement that they leave them anything. They could contest the will, but that will certainly cost money, take time and not make anyone happy.
Does a sheriff deed override a deed of trust?
Your question is complicated and needs a lot more detail for a more concise answer.
Generally:
A sheriff's deed is the result of a judgment lien. It indicates the land was actually siezed. It can create a cloud on the title to real estate even when recorded after the property has been conveyed if the conveyance was to avoid creditors. If it relates to a debt that was recorded prior to a mortgage in a state that uses deeds of trust for mortgages then it may override the deed of trust.
If this refers to a conveyance deed to a trust and the trust was not drafted properly the real estate would be left exposed to creditors. If the debt predates the deed to the trust the sheriff's deed may override it. You may need to pay off the lien to remove the cloud on the title.
You should have the situation reviewed by an attorney who specializes in real estate law. If the siezure was "good" the interest on the debt adds up quickly causing the pay back amount to grow. In Massachusetts the interest allowed is 12 percent.
Can probate court order the selling of real property?
Yes. In most jurisdictions the probate court (and other courts) has authority to handle matters concerning real estate. The most common situation in which the court would order the sale of real property would be a partition action.
How do you resign as Executor of a will?
United Kingdom
You will need to sign a Deed of Renunciation document. Note that this can only be done if you have not intermeddled in the estate affairs. If there are no other executors you should then hand the document to the main beneficiary who will then need be able to deal with and apply for probate.
Unites States
Generally once they have been appointed by the court an executor can file a resignation with that court if they cannot continue as executor. They must file a final account of their activity and the court will appoint a successor.
How would you apply for Letters of Administration for an intestate will in Ontario?
11. IF THERE IS NO WILL
An application is made by one of the next of kin to the Court to be appointed as Estate Trustee Without a Will for the estate. This person must be nominated in writing on the proper forms by at least a majority of the next of kin who are over eighteen years of age. A "probate fee" calculated on the same basis as set out above is charged by the Court. It may take several weeks to obtain the information, and it is often difficult to obtain the signed nomination forms from the next of kin. The Court takes two to five weeks to issue a Court Order appointing the applicant as Estate Trustee Without a Will.
If the applicant for Certificate of Appointment as Estate Trustee without a Will is not the surviving spouse of the deceased, the applicant must be bonded by an insurance company or by two (2) individuals.
The preparing of the documents and obtaining the bond and the Certificate of Appointment of Estate Trustee Without a Will are looked after by a lawyer or law clerk.
Without a Will, the estate is distributed in accordance with the Succession Law Reform Act which distributes the assets in accordance with a government formula.
Assets of which a surviving person was a joint holder with the right of survivorship or which have a named beneficiary, such as life insurance policies, go to that person automatically. Intestate Succession When a will disposes of all a person owns, no intestacy occurs. However, when no valid will exists or when a will does not dispose of all the testator's assets, succession follows according to certain rules. Here is a table of the rules: Survivor Distributions If a spouse All to the spouse If a spouse and one child Preferential share ($200,000) to the spouse, remainder split equally between the spouse and the child If a spouse and two or more children Preferential share to spouse plus one third of remainder, two thirds divided between children If no spouse and one or more children alive Children share equally: If one child is deceased, but has children, those children get their parent's share equally (representation) If no spouse and no children, but grandchildren Grandchildren share equally regardless, no representation. If none of above and a parent is alive Parents share equally, or if only one parent, parent gets estate absolutely If none of above, and at least one surviving brother or sister Brothers and sisters share equally with representation. If none of above and at least one niece or nephew Nieces and nephews equally with no representation. If none of above Next of kin of equal degree of consanguinity to the intestate equally without representation, degrees of kindred shall be computed by counting upward from the deceased to the nearest common ancestor and then downward to the relative, and the kindred of the half-blood shall inherit equally with those of the whole-blood in the same degree. If none of above Her Majesty the Queen (escheat to the Crown) A will is not invalid only because it is witnessed by a beneficiary, but the gift to the beneficiary becomes void. A will is also not invalid only because it is witnessed by an executor. Moreover, the executor's appointment is still valid although a gift to an executor would not be.
What are letters of Testamentary?
A letter of testamentary is a court document that identifies the executor of an estate.
How can a life estate be released?
A life estate is created by a deed executed by the owner of the property or by their Will.
A life estate is created by a deed executed by the owner of the property or by their Will.
A life estate is created by a deed executed by the owner of the property or by their Will.
A life estate is created by a deed executed by the owner of the property or by their Will.
If the parent and step-parent owned the property as joint tenants with the right of survivorship then full title passed to the step-parent upon your parent's death. You have no rights in the property. You may have an interest if the property was owned as tenants in common. In that case your parent's half would pass as intestate property according to the laws in your state which you can check at the link below. You could view or obtain a copy of their deed at the land records office to confirm how the land was owned. If you think you may have an interest you should speak with an attorney and show her/him the deed.
Is the executor responsible for the lawyers fees?
The estate is responsible for attorney's fees. The executor is responsible to pay the debts of the estate before any property can be distributed. If the executor mishandles the funds they will be personally liable.
Trust comes with time. It's only a foolish person who is drawn-in by a smile, loving words and promises. Take it slow and easy and get to know each other. Even the best of chameleons can't hide their true selves forever. Find someone that is fun to be with. Is good to you, keeps dates, gets along with your family and friends and is tentative to you, but not suffocating. Someone that likes to spend their weekends doing things with you. Takes you out to movies, clubs or simply spend some quiet time with you. If you find someone like that then take it slow and give that person a chance to prove their honesty.
Do the children of a deceased father have a right to view the will?
As soon as the will has been filed in probate it becomes a public record. You can go to the probate court where the will is filed and ask to review the file. You can then request a copy of the will (or any other document in the file) or make a copy at the public copier if one is available. As the probate procedure progresses you can monitor the file periodically for new filings such as inventories and accounts.
You will not legally be able to sell the property if the girlfriend has a life interest unless you have her consent. She will expect some compensation, that needs to be negotiated with the estate. For example, the sale proceeds could be used to provide another property for her to live in during her lifetime. I would like to add this: It is true that the girlfriend will have to consent to the sale and even sign the contract for sale of the house and deed. Therefore, she will have to be satisfied with the price you're getting for the house as well as her share from the very beginning. In fact, if she were so inclined, she could just refuse to sell. How much do you have to give her? The value of a life estate is determined by using what are called "mortality tables". These tables calculate the expected lifetime of the girlfriend in order to get an idea of the value of her life estate expressed in terms of a percentage of the value of the property. As an example, the life expectancy of a 20 year old person is longer than the life expectancy of an 80 year old person. For this reason the value of the life estate of the 20 year old is greater than the value of the life estate for the 80 year old. These tables exist for tax purposes mainly and the girlfriend is free to hold out for a bigger cut. That's where the negotiation mentioned above comes in. Usually in these situations, the life tenant just takes a percentage of the net sale proceeds and goes.
Who is next of kin when there's a will?
A will is allowed as long as it meets the technical requirements of the jurisdiction where it was executed.
The court's main concern is that the will was signed and witnessed properly under state law. At this point if someone files an objection to the will then what is known as a "will contest" process will begin. A person who wants to contest the will must have a legal interest in the estate and must have a valid reason for their objection. The court will hear the claimant and issue a judgment. There are many reasons a will can be challenged but just because you think it's unfair isn't a valid reason.
Once the will is allowed the executor is appointed and must distribute the estate according to the provisions of the will after creditors have been notified of the death. The debts of the decedent must be paid before distribution can be made to the beneficiaries under the will.
In some jurisdictions a spouse or child can claim an intestate share of the estate if that would give them a greater portion than the portion provided in the will. In most jurisdictions in the United States a person cannot disinherit their surviving spouse by leaving their property to others in their will.
When there is no will the property of the decedent is distributed according to the state laws of intestacy by an Administrator who also must be appointed by the probate court.
Does the executor of the will have the right to sell the estate?
Once you have been appointed executor by the court you can sell the property under certain circumstances. Assuming the real estate was not specifically devised in the will, generally, if you were given authority to sell the real estate in the will you may sell without license of the court. If the authority was not granted in the will then you will need to apply for a license to sell the real estate.
How do you establish your rights as the heir to your deceased mother's mineral rights?
You need to consult with an attorney who specializes in property law and probate law who can research and document your father's mineral rights and then probate his estate to make certain those rights pass to you legally.
If a quit claim deed is filed in the state of Michigan after death of sole owner is it legal?
If it's a legal quit claim, and the owner signed it before their death, yes. I would look into Michigan's law to see if there is a time limit to file a new quit claim, but I doubt there is. A quit claim has to be notorized and witnessed, so it would be obvious if you where trying to fraud someone, or if the owner had actually signed it.
Can executor and beneficiary be the same?
Yes, that is often the case when a spouse dies. It saves the estate money.
Does a will have to be probated in the county of death or residence?
Where a will is probated (called venue) with depend on your state's law.
In California, the proper venue for probate of a will is the county of the decedent's residence or any county where the decedent owned real property.
Sometimes, a will is probated in more than one state. This occurs where the decedent owned real property in more than one state, say California or Nevada. This is required because only a court located in the same state as the real property may make valid orders as to that property.
In this case, a primary probate is opened in one state. This is where most of the work of administration occurs and where the will is "admitted" (think validated) by the probate court.
A second probate, called the ancillary probate, is opened in .the other state. This ancillary probate only deals with the property of that state, either transferring it to the designated heirs or liquidating the property and transferring the proceeds to the administrator of the primary probate for final distribution.
Due to the full faith and credit act, one the will is admitted in the state of primary probate, it cannot be later attacked when used to open the ancillary probate.
Another situation is where the decedent died in one state, say California, but only ones real property in another state, say Oregon. Here, the will normally needs only to be probated in the state where the real property is located, possibly avoiding the need for ancillary probate. There is a bit of a decision on where to probate the will. Cost, time, the administrator's state of residence, and court rules and regulations all come into the decision and an attorney should be consulted.
You can see that this system can become complex and not cost effective for persons owning property in more than one state, which is why living trusts are used in these situations.
Although this general answer is provided by an attorney, it should not be taken as legal advice regarding your particular situation and no attorney-client relationship is established. For help with your particular legal situation, please consult with an attorney.
Can the executor take property from the estate for their own use?
The executor is required to execute the terms of the Will. If the Will leaves the assets to the executor, then yes. If not, then no. Exception: executors are entitled to reasonable compensation unless the Will prohibits it.
What if the lawyer is executor?
As in most things this has no simple answer. The short answer is yes, the fact that an executor is also an attorney does not disqualify him. And of course it is quite common for children to be named as executors.
But being a lawyer does not necessarily make someone the best choice as Executor. Being the executor of an estate may be seen by many people as an "honor" but in reality it is a very large responsibility and can be a lot of work. Having the time and energy to do that work is an important qualification for an executor, along with honesty, fair-mindedness, knowledge of the assets of the estate, and a willingness to be bound by the wishes of the person who wrote the will. Does the son get along with the other heirs to the estate? If he doesn't you could be setting him up for all sorts of conflict with those other individuals. A more congenial person may be a better choice. In addition, although the lawyer executor may know about probate and estate work, an executor who is not legally trained can easily get professional advice on these issues.
