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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
When will I receive a notification of an inheritance?
In the UK it will depend on who is handling the dead persons estate. So the time of notification might vary, however if a will is present at the time of death, people usually know if they are going to benefit. However nothing can be paid out from a will before six months has elapsed after the death of a person. This is to allow time for creditors to make a claim against the estate. After bills are paid, sometimes there is nothing left to be paid out. Best to check with the executors (those in charge of handling an estate, named in a will) or next of kin of the deceased person, though early enquiries might not be to welcome.
The executor has a duty to the estate to bring the best possible price for the liquidation of the assets. The executor will list the property for what it is worth, not what the beneficiary wants.
United States
No. He is not an heir of his father-in-law and he would have no legal claim to his wife's inheritance from her father. In addition, generally a person cannot make a claim against a "future inheritance" of another individual. An inheritance is not a reality until the testator has died.
United States
No. He is not an heir of his father-in-law and he would have no legal claim to his wife's inheritance from her father. In addition, generally a person cannot make a claim against a "future inheritance" of another individual. An inheritance is not a reality until the testator has died.
United States
No. He is not an heir of his father-in-law and he would have no legal claim to his wife's inheritance from her father. In addition, generally a person cannot make a claim against a "future inheritance" of another individual. An inheritance is not a reality until the testator has died.
United States
No. He is not an heir of his father-in-law and he would have no legal claim to his wife's inheritance from her father. In addition, generally a person cannot make a claim against a "future inheritance" of another individual. An inheritance is not a reality until the testator has died.
There are many different types of documents including those on motor vehicles. Other documents include identification and business service documents.
When a person dies does an estate have to be set up?
If you want to close things out and keep the creditors from bothering you in the future, an estate is a good thing. And if there is real property involved, it is pretty much required.
What happens to a will if there is insufficient money to meet a bequest?
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
The answer depends on several factors and state laws vary.
The cash gift could be funded by other assets in the estate. If there is property in the residuary estate that could be sold, such as real estate, most jurisdictions would require it to be sold to pay the specific cash bequests. Specific bequests have priority. Some states require the bequests be prorated or reduced in proportion. The executor can request guidance from the court.
If there are no assets the estate can be deemed insolventby the court and the executor will not bear responsibility for not paying over bequests.
That type of situation is regulated by the laws of intestacy. Generally, when a person with no spouse or children dies, their parents, then siblings are their heirs at law. A god child would not inherit unless they were a blood relative who is entitled to inherit under state laws. You can check the laws in your state at the related question link.
That type of situation is regulated by the laws of intestacy. Generally, when a person with no spouse or children dies, their parents, then siblings are their heirs at law. A god child would not inherit unless they were a blood relative who is entitled to inherit under state laws. You can check the laws in your state at the related question link.
That type of situation is regulated by the laws of intestacy. Generally, when a person with no spouse or children dies, their parents, then siblings are their heirs at law. A god child would not inherit unless they were a blood relative who is entitled to inherit under state laws. You can check the laws in your state at the related question link.
That type of situation is regulated by the laws of intestacy. Generally, when a person with no spouse or children dies, their parents, then siblings are their heirs at law. A god child would not inherit unless they were a blood relative who is entitled to inherit under state laws. You can check the laws in your state at the related question link.
What was the first settlement in Montana?
it was the miners and the trappers really who we should give the creadit to. they came to mine and trap and make a living and they improved montana. they are heros (or should be) in montanain history.
- kati gouge
Inherited a house with stipulations are they legal?
Stipulations may be legal depending on what they are.
Please don't totally trust me on this but the money probably goes to the kids. If they didn't have kids, the money would go to family members and sadly if they didn't have family then it would go to friends. If, (even more sad) they didn't have friends, i have NO IDEA where it would go.
What are the Exceptions to nemo dat quod non habet?
No one (can) give what he does not have is a legal rules, sometimes called the nemo datrule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title.
What is the opposite of per stirpes?
Per capita is generally held to be the opposite of per stirpes. Both are terms most commonly used in reference to the division of an estate. Per stirpes is more commonly used in estate planning since the share of a deceased beneficiary would pass to their issue, if any.
Per capita means "by the head count"; in a per capita distribution each living heir in the group receives an equal share in the estate. For example, if parent left an estate to three children per capita and each survived, each would receive one-third. If one of the three was deceased at the time of death of the testator the remaining two would each take one-half. In a per capita distribution a share isn't created for a deceased member.
Per stirpes means "by branch". In a per stirpesdistribution the three children above would each take one-third. Now suppose again that one had predeceased the testator. If that child had children, those children would take the deceased parent's one third share equally. In a per stirpes distribution a share is created for a deceased member if they have issue (children).
If there is a will, there is probably a probate case in the local court. The file will contain a copy of the will (if not the original).
If you are named in the will, the person administering the will (called the executor of the estate) has a legal obligation to give you what is promised, if at all possible. The clerk at the probate office will tell you who the executor is, if you ask. If you do not get what you are owed, you need a lawyer.
If the will has not been filed, you need a lawyer.
How long do i have to contest a will in pennsylvaina?
In Pennsylvania, you typically have one year from the date of the testator's death to contest a will. However, if you were not aware of the will's existence or the grounds for contesting it, you may have up to one year from the date you discover those grounds. It's important to consult with an attorney experienced in estate law to ensure you meet all necessary deadlines and requirements for your specific situation.
What does it means when a deed says for life with remainder to?
When a deed says, "For life with remainder to..." it is describing a life estate. That means the grantor is either granting or reserving a life estate in the property for one person(s), i.e., the right to the use and possession of the property for life, and when they die another person(s) will own the property in fee free and clear of the life estate. That second interest is called the remainder interest. The remainders own the fee in the property during the life estate but cannot take possession of the property until the life tenant has died or released their interest in the property.
A life estate can also be set forth in a will. Suppose a man's first wife died, the ownership of their home automatically passed to him and they have two sons. He married a widow with two daughters. He made arrangements in his will that his second wife would have the right to live in the home for the duration of her natural life and upon her death the property would pass to his sons free and clear of the life estate. The sons would be the owners of the remainder interest in fee.
What is the definition of personal effects when used in a will?
Anything that is not real property or negotiable securities. A house, boat or car is titled property and not personal effects. Pretty much everything else is chattel or personal effects.
How long after the death of a loved one does the executor have to settle the estate?
That's determined by the probate laws of the state in which the person was a resident at the time of his or her death. The interested party can contact the office of the clerk of the probate court in the county where the person died to obtain the needed information.
The question is a little sketchy but, yes, they probably can. The Executor has a FIDUCIARY RESPONSIBILITY to not let the estate "go to waste" (devalue or be wrongly used) until such time as the will is probated and all the property is distributed according to the stated wishes of the deceased. If you are living in the home of the deceased, and under normal circumstances, would not have done so during the deceased's lifetime - even if you ultimately wind up inheriting the home, you will have to compensate the estate for your living privileges.
The Texas intestacy law will be applied. In most cases the estate will be split.
Are executor fees taxable if the executor receives none of the inheritance?
Fees received by an executor are not classified as inheritance and therefore are not subject to an inheritance tax, but they are classified as income, and are subject to income tax.
When the administration is closed can the administrator sell property?
No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.
If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.
No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.
If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.
No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.
If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.
No. In fact, an administrator must apply for a license to sell the property. An administrator doesn't have any authority to sell property without a court order. Once the estate has been closed the heirs at law own the property. The deed must come from those heirs.
If property is discovered after the estate is closed and the heirs wish to sell it through the estate the administrator (or another qualified person) must petition to be appointed the administrator de bonis non (of property yet to be administered) and then must apply for a license to sell the real estate.
Do all heirs to an estate have the ritght to be present during all hearings?
Yes. You should receive a notice of the date of the hearing and you can attend.
Do codicils to North Carolina wills need to be signed in North Carolina?
Not necessarily. They need to be signed or initialed by the person for whom the will was drafted. The signing or initialing can be done ANYWHERE.
If a person dies in Virginia are the stepchildren considered as heirs?
Wills say it all, and that's why people should have one (even people in their 20s if they have personal posessions or property.) If this person in Virginia has left a Will, then the only way step-children would get any portion of the Estate is if that deceased has provided this in his/her Will. As step-children, and if you feel it's unfair then you can "contest this Will." If the person died intestate, a stepchild will be considered an heir by operation of law only if the stepchild was legally adopted by the deceased party. Otherwise the will determines who the heirs are.
The "estate" is responsible for the financial obligations of the deceased, meaning that a life insurance policy is to be cashed in and/or anything that he/she owns is to be sold and the proceeds of the sale are to be used to pay his/her obligations. If his/her life insurance policy will cover all obligations, you won't need to sell any of his/her estate, otherwise, everyone expects to be paid. That is often the reason probate takes so long and people seem to believe that they never get what they diserve if/when someone dies without a will. Even WITH a will, there must be provision to pay for outstanding debt. You could only be responsible for credit card debt if you were a joint holder on the accounts. If they were his alone or anyone else named on the account was an authorized user only, they would not assume the debt.
