Can a life estate creator and owner change their mind and get the property back?
No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.
No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.
No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.
No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.
Can executor live in real property without paying rent to estate?
The executor has no legal right to live there rent-free, but this will depend on the probate laws of the state of probate. It is a tricky practical question because there are benefits and detriments to having the executor live in the house rent free.
Begin with the idea that an executor entitled to complete possession of all estate property during administration but is not allowed to use estate property for personal gain Also, executors must use assets of the estate to reasonably maximize income prior to distribution. Taking those at face value the answer is that the executor has no right to live there rent-free. Living rent-free is using estate assets for personal gain and not earning income. Theoretically it could be rented short term to someone other than the executor and the house would earn income. But renting houses on a short term basis is not recommended and usually not done because tenants may refuse to leave and have to be evicted through the courts. Or they may damage the house.
In the real world though it sometimes happens because there are benefits to having someone in the house rather than leaving it vacant. A vacant house costs more to insure than a house with a resident, so the estate saves on insurance. Another benefit is prevention of possible damage in case a fire starts or pipes freeze or vandalism occurs or contents are stolen or even if squatters break in. A person living there would be able to prevent serious damage.
The problem with those benefits is that aside from the extra cost of insurance, they cannot be quantified to see if they are worth more than not renting the place out. For this reason, it is generally held that an executor has no inherent right to live in the estate house rent-free. But the alternative is to pay higher insurance rates and perhaps pay to board up the house. Either way the estate will incur some expense to preserve the house. For this reason, everyone usually gets together and agrees on some compromise.
The executor might be the spouse of the deceased, and the property might be the house in which the executor lived prior to death - back to the question of practicalities
Who is next of kin mother sister son when father dies?
If you are speaking of the relative or relatives entitled to share in your property if you die intestate (without a will) then if you are unmarried your parents are your next of kin. If they were deceased then your sister would be your next of kin.
In another sense they are all your next of kin. See related question link.
How do you become an executor of an estate and not a will?
An executor is the person who carries out the provisions in a person's will. An estate is the property owned by a person at the time of their death. If a person who died left a will the person appointed by the court to carry out the provisions of the will is the executor of the estate.
When a person dies without a will (intestate) the court will appoint an administrator of the estate.
Can a felon own a rifle in nebraska?
yes anything that you dont have to get a back ground check for you can hunt with or have
Mostly correct however some areas prohibit felons from hunting or obtaining a hunting permit. It is always best to check with a lawyer that is familiar with local hunting and gun laws.
How do i file a petition to start a probate case?
The easiest answer is to contact a probate attorney in your area. Otherwise, you can go to the county courthouse and ask the clerk for forms. They cannot provide legal advice though, so your best contacting an attorney to handle this. There are a lot of deadlines and specific procedures that must be followed.
Will the house go into probate if one spouse dies and both names are not on it?
Generally, yes. Any estate that holds real property must be probated in order for title to pass to the heirs. However, laws vary in different jurisdictions. A surviving may have special rights in community property states.
In separate property states the property will pass according to the provisions in the decedent's will or according to the state laws of intestacy if there is no will. In many jurisdictions the surviving spouse will inherit the estate, however, that scheme is not universal. In some states the children receive a share of an intestate estate especially when the surviving spouse is not their parent.
You need to consult with an attorney in your jurisdiction who can review your situation and explain your options.
If you have to ask this question then either you an overly jealous type or, he has given you good reason not to trust him. If we really listen to our inner selves we seldom let ourselves down. A "feeling" is a signal that we are usually right, but then, we have to prove it to some point. If you think he's cheating then take a friend and follow him, or, if he's a compulsive liar walk out that door and don't look back. Good luck Marcy
Does the executor have to do everything the will instructs?
The court appointed executor has the authority to make all decisions to carry out the provisions of the Will and take all other actions necessary to pay debts, distribute property and close the estate. See link for a listing of all the duties of the executor:
http://estate.findlaw.com/estate-administration/checklist-the-executor-s-role.html
You can, but only if the lien is from a debt that is owed by the trust itself. If the debt is against the person who created the trust or against the person who is the beneficiary of the trust, then you cannot. The trust is considered a legal entity separate and apart from the individuals involved. The fact that it is a trust, as opposed to a person or business entity, does not prevent it from being liable for its debts.
Can the executor of an estate obtain past credit card history for the deceased?
I would think if there was a justifiable reason to obtain it. They could certainly justify obtaining a credit rating to determine what possible creditors are out there that need to be satisfied. One possible reason to get it is to use it in valuation of items purchased that are now part of the estate.
How do you find out who was the executor of a deceased person's estate?
There are several local services that you can find at this list of Probate Registries:
http://www.hmcourts-service.gov.uk/HMCSCourtFinder/CourtFinder.do?court_work_type_desc=probate
or you could try searching the National Will Database:
http://www.tnwdb.com
but I think that's a commercial venture.
How do you transfer property to children as a gift?
In the United States, in most states, to make a gift you have to have the intent to make the gift; a delivery of the item; and a relinquishment of all elements of ownership. If it is real property, simply execute a deed giving the spouse the interest you want to gift. The deed should recite that it is a gift as opposed to a sale and that there is no or just a nominal consideration for the transfer. In the case of a house, the person gifting the property does not have to move out as long as it is understood that remaining there is solely because the other spouse says it is alright. If it is personal property of a tangible nature, there must also be donative intent, delivery and relinquishment of ownership. Delivery is done by simply handing the item over. If the property is something like stocks, bonds or securities, again the three elements must be present. Delivery is usually done by changing the name on the account or security or by transferring it as a stock certificate is transferred.
How does a mother get power of attorney for her adult son who need care?
If the son is legally competent he can grant a Power of Attorney to his mother. If the son is not legally competent then she needs to be appointed by the court as his legal guardian. She could begin by speaking with someone, an advocate if possible, at the probate and family court. If you cannot afford an attorney perhaps the court could direct you to some free legal services agency.
How do you find out What is in a will and if probate has cleared?
Once a probate has been filed in the court of jurisdiction it becomes a public record. You need to check the index at the probate court where the decedent last lived to see if a probate has been filed. Many probate offices are computerized. You should try calling first to see if a clerk will check the name in the computer index for you.
What are the penalties for forging signatures on a federal tax return?
Federal tax fraud and forgury. Both would be federal felonies and you would definatly be going to federal prison no if ands or buts. Federal crimes are the worst to get! these are the mothers of all felonies and anything from a second degree and up you are basically garenteed jail time so imagine a federal charge. Unless you are extremely lucky or you have a very nice judge you will be serving time and possibly a lengthy one too. Oh and by the way federal judges arent usually nice at all so dont hold your breath cause they didnt get to that chair being nice if you get where im coming from
What if the executor does not want to sell a house in the will?
There is no problem if the debts of the estate have been paid and the executor is the sole heir. However, if there are other heirs who want to sell the property and take their share of the proceeds the executor must buy out the interests of the other heirs. Otherwise, the heirs are entitled to a sale of the property and can file a petition for partition if the executor will not act.
How do you transfer property to a trust?
The owner of the property must execute a deed that transfers the property to the trustee of the trust. However, you better make certain the trust is valid and has all the provisions needed for the trust to manage real estate and for the appointment of successor trustees.
How can parents transfer the deed to their home to an adult child?
The most secure way to insure that the property is protected from any creditor attachment is to have an attorney or title company draw up a warranty deed making the adult children as Joint Tenants With Rights To Survivorship rather than deeding the property solely to an adult child/children. To deed the property directly to the child/children could subject it to taxation depending upon the circumstances. When property is titled JTRS it passes directly to the other tenants and is not subject to probate action nor can it be attached for debts belonging to the deceased. The lender's investment is secure regardless of how the property is titled. Mortgages are secured debts secured by the collateral property via a Deed of Trust. * However, as you say there is a mortgage, you probably cannot change the ownership title in any way without the permission of the mortgage company. * this q has a discussion
What defines common law marriage in Georgia in event of death?
At one time, Georgia recognized a informal type of legal union known as common law marriage. That ended on Jan 1, 1997. O.C.G.A. §19-3-1. However, if you were in a relationship prior to that date, you may qualify for a common law marriage if you meet the following requirements:
The three requirements for a valid common-law marriage in Georgia:
(1) the parties must be able to contract;
(2) there must be an actual contract; and
(3) there must be consummation according to law (O.C.G.A. §19-3-1).
Is a beneficiary entitled to a copy of will trust?
Before the testator dies, usually not. After death, yes, and it is often required to be filed in the local (county) probate court within a short time, where it becomes a public record to which anyone is "entitled to have a copy".
Can a convicted felon be an executor of a will?
An executor of a Will CAN have a criminal record, however, they MUST have regained citizenship. If citizenship has not been restored then another has to be appointed.
Why do you need an ein number for an estate?
So that you can pay taxes for the estate. It allows the IRS and state entities to insure the proper taxes are collected. It also allows the executor to open bank accounts and keep them isolated from personal assets.
What called a will that is in one's own handwriting?
A will that is in the testator's own handwriting and signed by the testator is called a holographic will.
Can you change your will without a lawyer?
It should not require a lawyer. You can go to the local court house and obtain the forms. Usually one then appears before the judge and answers his questions. It is a quick process in most places.