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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
The property of the wife would be distributed to family in accordance with applicable instestate law, including to the husband.
After the husband died, his property (including any property inherited from the wife) would be distributed to his survivors according to applicable intestate law.
Do you need an executor if you have no estate?
In the Uk, it is not necessary to write a will or appoint executors if there is no estate unless you particularly want your personal items distributed in a certain manner.
Irrevocable trust - three trustees - can one trustee withdraw funds?
You must review the terms of the trust to determine if any one trustee can exercise the trustee powers. That is an important issue regarding trusts. Some trusts specify that less than the full number of trustees can act on behalf of the trust and some do not.
Your brother should be grantor, his sister should be grantee, but he should convey only an undivided one-half interest in the home. Or undivide one-tenth interest, or whatever he wants. In the property description, it says, "An undivided one-half interest in the real property commonly known as 123 Main Street, Anytown, USA, and more particularly described as [legal description] (and if they want joint tenancy with right of survivorship, add), so that Grantor and Grantee own the property in equal shares as joint tenants with right of survivorship."
What are the three levels of probation?
intensive supervision probation. parental supervision of the officers and the high risk offenders. then where juveniles continually fail to be helped by local court system and end up in juvenile jail.
What are an heir's rights regarding the actions of an executor?
More input from FAQ Farmers:
- I would contact the probate court in the town your parent lived in, verify with them that it is the correct probate court and then see if the will has been probated. Sometimes small estates don't need to be probated, however they can be. See if you can petition the probate court to prove the will. The court will order that anyone having knowledge of a will, to produce it for the court. If that doesn't work, then your parent died intestate. The probate court can tell you what to do nonetheless.
- Options available: (1) ask for special request of notice. (2) ask that the trustee be bonded. (3) verify the deed of trust (house) title of car. (4) show proof to the bank; look for unusual payouts. (5) try to get copy of credit report. DO NOT believe what you hear from a trustee.
- An executor of a will has fiduciary duties under the common law, to act within the parameters of the testamentary document - to the letter! - and to do so always safeguarding each and every interest therein delineated. This means that not a dang thing can be changed, or withheld, or used to benefit ANYONE in ANY WAY (ESPECIALLY NOT THE THE EXECUTOR HERSELF!) without flat out breaking the law. If an executor pulls stuff, immediately the party wronged files suit civily for breach of the executory duties and pleads for immediate removal of the executor for this breach, alleges damages (whatever they might be), and asks the court to act quickly to appoint an interim executor (an uninterested, unbiased individual of the court's choosing who has experience in this sort of thing - usually a lawyer or big banker type) who will take the reins while the aggrieved party litigates the issue of the wrongdoing. Now, the judge may say, hey, I don't see anything untoward here, you have not shown me enough evidence in your plea to me that this executor did anything wrong, and could refuse to remove her. Generally, though, in a case like this, it's so obvious that the accused executor really did act wrongfully - why else would there be an appeal to the judge like this, and the whole will/trust/whatever will be be placed in the independently appointed trustee's hand until it is sorted out. I wish I could describe some of the wild, seminal lawsuits we all read in law school about this stuff- it can get very nasty indeed - he said, she said, etc. But the key thing is that the will or trust, assuming it is valid (a whole other story) reigns supreme, and there is no way an executor can fiddle with it.
What is right of representation in a will?
'Right of Representation' distribution under a will means that the children of the beneficiary stand in for any beneficiary who predeceased the testator. It is also referred to as 'Per Stirpes" distribution. If the testator wants the legacies provided in the will to be distributed by right of representation it must be clearly stated in the will.
For example, suppose William died and in his will he left all his estate to his two children, Judith and Elizabeth per stirpes. At the time of William's death Elizabeth had already died leaving two children. William's estate would be divided in half and one-half would go to Judith and one-half would be divided between Elizabeth's children.
Suppose William died with no children and left his estate to two of his three sisters per stirpes. If one sister had predeceased William, her share would automatically go to her own children.
If the right of representation is not set up in the will and a beneficiary has predeceased the testator the gift would lapse and become a part of the residuary estate. Generally, if no residuary beneficiaries are named then that part of the estate would be distributed according to the state laws of intestacy. You can check the laws of your state at the related question link provided below.
Child first, then grandchild if the child is no longer alive. You are the only heir. If you die, then the heir becomes your daughter. Right now, she is entitled to nothing.
The answer depends on how the land was titled. If sister and brother acquired the land as Joint Tenants With the Right of Survivorship then brother's interest would pass automatically to sister upon his death. If the land was acquired as Tenants in Common then brother's half interest would pass to his parents (assuming he has no children). If his parents are deceased then his half interest would be shared by his siblings, including his co-owner sister.
Can a person be an executor to the estate he owes money to?
Yes. Nothing prohibits a testator from choosing a person as his or her executor simply because there is a debt between them. In the matter of who is to be the executor, courts go to great lengths to honor the wishes of the deceased. The beneficiaries will be able to challenge in court the manner in which the executor handled repayment. An executor might be held to a higher standard of proof if he or she disputes the claim in full or in part than any other creditor might be held to. In other words, although it appears that there is a conflict of interest in the executor handling his/her own claim, there are remedies available to beneficiaries to ensure proper handling of that claim that do not thwart the decedent's personal choice of the person to be the executor.
The minimum time in Illinois is six months.
Generally the estate has to be open for six months to wait for claims to be filed. However, if the decedent has already been dead for 2 years then the statute of limitations to file has passed and if everything else is taken care of then the estate can be closed.
What type of will does nuncupative statute apply to?
A nuncupative will is a declaration by the testator spoken and not written in front of a suficient number of witnesses nuncupative wills are only accepted from the priveliged class of soldiers and seamen on active service
What happens when two beneficiaries will not consent to an early termination on a trust?
You need to review the trust to determine how it can be terminated. If you don't find your answer there, or if that answer is not helpful, then you need to bring the matter to court and seek a court order that terminates the trust.
You need to review the trust to determine how it can be terminated. If you don't find your answer there, or if that answer is not helpful, then you need to bring the matter to court and seek a court order that terminates the trust.
You need to review the trust to determine how it can be terminated. If you don't find your answer there, or if that answer is not helpful, then you need to bring the matter to court and seek a court order that terminates the trust.
You need to review the trust to determine how it can be terminated. If you don't find your answer there, or if that answer is not helpful, then you need to bring the matter to court and seek a court order that terminates the trust.
Such action is not possible as the probate court must rule on whether the property is subject to partitioning of any sort or is exempted from probate procedure. If the house (or brokerage accounts, or bank accounts, etc) were put into the name of your parent and you, prior to his or her death, as "joint tenants with right of survivorship," then the property would "automatically" become yours upon the death of the other joint tenant.
What to do with a will when someone dies?
You must first be certain that what you have is the original (and not a copy) of the Will and that this is the LAST version of the person's Will.
The Will usually appoints an executor who is responsible for carrying out what the Will sets out. The Will should be given to the executor(s) along with the death certificate and all the information you can find relating to the persons bank accounts, shares and property holdings (all that the deceased owned). The executor(s) will then prove the Will in a court of probate and once that has been done and any outstanding taxes and debts have been settled, they will distribute the estate (the dead persons property) as the Will instructed.
Contact the Attorney or whomever Legally drew up the Trust. * The attorney will not give out such information. If the trustee refuses to supply the beneficiaries with a copy of the trust or the information that is sought, the interested party will need to petition the probate court for a copy of the document.
My wife has lifetime rights to a home. if she died do i have any rights to the property?
No. A life estate is extinguished when he life tenant dies.
If you sell it to me then an i the grantee or grantor?
The grantor is the seller and the grantee is the buyer when speaking of real estate transfers.
What are the creditors' rights on estates without wills?
They have the same rights as they have with an estate that has a will. The creditors file their claims with the executor.
Can a wife come in after 10 years and change things in a power of attorney?
If the wife was not the Grantor of the Power, and there were no provisions allowing the change, then the answer to your question would be no.
Can executor make no effort to sell the inherited propriety?
You haven't provided enough details.
- Have the heirs requested that the executor sell.
- Was the executor instructed to sell in the will.
- Was a license to sell issued by the probate court.
- Is the estate settled.
If the executor was ordered to sell and hasn't made arrangements to market the property then you should complain to the probate court to compel them to carry out their duty or ask they be replaced. If the probate process is completed and the executor was under no obligation to sell the property, title has vested in the heirs and they can sell the property.
