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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
How do you find out if your kids are entitled to any kind of death benefits after their father died?
If the father paid Social Security taxes, minor children are entitled to survivor benefits. (www.ssa.gov). For private benefits through a pension or anuity or insurance program you would need to have some idea of the holder of the policy or fund. This information might be available from places where he was employed.
Can a child keep cash found in the deceased parents estate?
By law, it is supposed to be included in the estate and disbursed along with funds from the sale of property.
The spouse gets the home. The children are not entitled to a portion of the home. They are not required to get anything from the estate.
There is no time limit. The length of time of the marriage has no effect on the statutory rights of a legal spouse. The surviving spouse has legal rights . . . period.
You can check those legal rights under your state laws of intestacy at the related question link provided below.
What are the Massachusetts prbate laws?
Most likely Massachusetts will have different laws from other states, although all states' laws must stay within the laws of the Federal Government. All states have their own elected officials who draft and pass laws that reflect the needs of citizens of the state.
Yes, Massachusetts labor laws are different from other states. One of such differences is the minimum wage because Massachusetts has a higher standard of living.
That child's interest would pass to any living parent and if no parent to their siblings.
Does the court need to assign a executor if the children agree who will be a executor?
The court will appoint the executor and typically will grant it to the person the children request.
Can benefactor give rights for another person to enter on property at anytime in a life estate?
Yes. The "benefactor" or owner of the property can grant any amount of rights in the property.
Can you get a copy of a deceased persons will in bunbury west Australia?
You would need to contact the probate court to determine if the will was filed. You can find contact information for the Probate Court in Perth at the link provided below.
Can a US bank freeze a checking or savings account when a person dies?
Most states requre that the probate courts be allowed to investigate all of the finances of the deceased.
Are you entitled to any of your step father's estate?
Generally, you would be considered an heir at law only if you were legally adopted and only to the extent provided by the laws in your jurisdiction unless you are mentioned as a beneficiary under the will.
In New Jersey even if you were not adopted you would be entitled to a share of your stepfather's estate only on the slight condition that there is no will, no surviving spouse or domestic partner, no surviving descendants and no surviving grandparents or descendants of grandparents. NJSA 3B:5-4(f).
This statue does not make stepchildren heirs at law on a par with natural and adopted children. Natural and adopted children (and their descendants) will still take to the exclusion of stepchildren. It merely saves an estate from escheating to the state in absence of heirs at law and gives it to stepchildren rather than to the state.
What happens when one of two beneficiaries dies before claiming the money in il?
When a beneficiary dies before a testator there are two things that can happen--either the gift will lapse, meaning that it will not pass to them but will stay with the estate or the gift (in this case money) will go to the family of the now deceased beneficiary. Whether one happens over another will depend on the wording in the will and the nature of the gift
You are just the guardian. You own nothing.
The inheritance laws vary from state to state. In Georgia all children are entitled to an equal share. If one child is deceased, the children of the deceased sibling (grandchildren of the landowners) are entitled to equal split of their parent's share. This is called devolution - and is an automatic operation of law. Of course, legal creditors all get their due first, ahead of everybody.
In every US state property that is not considered exempt from probate procedures is distributed under the state's probate succession laws.
Generally speaking the only property and assets not subject to probate are those which pass directly to a surviving spouse under the marital property laws or that which is held under the "survivorship" laws.
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In Florida who inherits your estate if you die without a will?
As I am not an attorney, nor in the legal profession, this will be a layman's answer, until a professional improves it. The laws governing Probate [the process of settling the just debts of a deceased's estate, and distribution of the remaining assets to legally qualified beneficiaries] are different in each state, and are governed by the Probate laws or statutes of the state in which the deceased had legal residence at the time of death. Generally, when a person dies Intestate [without a legal will], most state laws divide the deceased's assets[after paying all just debts of the deceased] between the legal spouse and the legal children of the deceased. In community property states the spouse already has half of all the assets of the marriage, and is entitled to half of the deceased spouse's half. The remaining half of the deceased's interests, are divided as equally as possible among the qualified children. Again, I remind readers of this answer that I am not an attorney, nor in the legal profession, so it is imperative that you consult an attorney, preferably well experienced and qualified in Probate Law, before making any decisions. ==Additional Information== Click on the link provided below and choose your state. Then click on "Read the Law".
The executor must distribute the estate according to the provisions in the will and the state probate laws. Any time an executor encounters a difficult situation that involves not being able to follow the provisions in the will (such as not enough assets to pay debts and legacies) the executor can explain the situation in a motion to the court and ask for a ruling. The court will review the problem, apply state law and render a decision that instructs the executor how to handle the situation. The decision protects the executor from any future claims of malpractice as the executor.
No. If the estate has been probated and the file is closed then the owners by inheritance can convey the property by a deed that cites the probate as their source of title. An attorney who specializes in conveyancing should draft the deed.
If one receives a final notice that a will has been admitted to probate. What does that mean?
It means, if you are going to raise an objection you better act swiftly. i.e Have you been cut out of the will?
How does the executor in a living trust remove a family member from property?
A trust doesn't have an executor. A trustee manages a trust according to the provisions set forth in the instrument that created the trust- the Declaration of Trust. You need to review that declaration to determine what the trustee can do and how.
How do you file a lien on a house that is in a trust in Massachusetts?
Yes, a lien can be filed on a piece of real property, regardless of the owner. However, the reason for the lien has to be directly related to the actual owner or the property itself. i.e., if a trust owns a house and I live in the house, and you have a judgement against me, there is no attaching a lien on the house for my debt.
In Florida in a will what is the age limit of a minor to an inheritance?
There are no age limits for inheritance. When a minor inherits property the court will appoint a guardian ad litem to protect and supervise the minor's inheritance.
What rights does wife have to inheritance of husband in state of texas?
Intestacy in Texas: Decedent had no will
(b) Intestate Leaving Husband or Wife.
Where any person having title to any estate, real, personal or mixed, other than a community estate, shall die intestate as to such estate, and shall leave a surviving husband or wife, such estate of such intestate shall descend and pass as follows:
1. If the deceased have a child or children, or their descendants, the surviving husband or wife shall take one-third of the personal estate, and the balance of such personal estate shall go to the child or children of the deceased and their descendants. The surviving husband or wife shall also be entitled to an estate for life, in one-third of the land of the intestate, with remainder to the child or children of the intestate and their descendants.
2. If the deceased have no child or children, or their descendants, then the surviving husband or wife shall be entitled to all the personal estate, and to one-half of the lands of the intestate, without remainder to any person, and the other half shall pass and be inherited according to the rules of descent and distribution; provided, however, that if the deceased has neither surviving father nor mother nor surviving brothers or sisters, or their descendants, then the surviving husband or wife shall be entitled to the whole of the estate of such intestate.
You can read the entire statute at the related link.
Intestacy in Texas: Decedent had no will
(b) Intestate Leaving Husband or Wife.
Where any person having title to any estate, real, personal or mixed, other than a community estate, shall die intestate as to such estate, and shall leave a surviving husband or wife, such estate of such intestate shall descend and pass as follows:
1. If the deceased have a child or children, or their descendants, the surviving husband or wife shall take one-third of the personal estate, and the balance of such personal estate shall go to the child or children of the deceased and their descendants. The surviving husband or wife shall also be entitled to an estate for life, in one-third of the land of the intestate, with remainder to the child or children of the intestate and their descendants.
2. If the deceased have no child or children, or their descendants, then the surviving husband or wife shall be entitled to all the personal estate, and to one-half of the lands of the intestate, without remainder to any person, and the other half shall pass and be inherited according to the rules of descent and distribution; provided, however, that if the deceased has neither surviving father nor mother nor surviving brothers or sisters, or their descendants, then the surviving husband or wife shall be entitled to the whole of the estate of such intestate.
You can read the entire statute at the related link.
Intestacy in Texas: Decedent had no will
(b) Intestate Leaving Husband or Wife.
Where any person having title to any estate, real, personal or mixed, other than a community estate, shall die intestate as to such estate, and shall leave a surviving husband or wife, such estate of such intestate shall descend and pass as follows:
1. If the deceased have a child or children, or their descendants, the surviving husband or wife shall take one-third of the personal estate, and the balance of such personal estate shall go to the child or children of the deceased and their descendants. The surviving husband or wife shall also be entitled to an estate for life, in one-third of the land of the intestate, with remainder to the child or children of the intestate and their descendants.
2. If the deceased have no child or children, or their descendants, then the surviving husband or wife shall be entitled to all the personal estate, and to one-half of the lands of the intestate, without remainder to any person, and the other half shall pass and be inherited according to the rules of descent and distribution; provided, however, that if the deceased has neither surviving father nor mother nor surviving brothers or sisters, or their descendants, then the surviving husband or wife shall be entitled to the whole of the estate of such intestate.
You can read the entire statute at the related link.
Intestacy in Texas: Decedent had no will
(b) Intestate Leaving Husband or Wife.
Where any person having title to any estate, real, personal or mixed, other than a community estate, shall die intestate as to such estate, and shall leave a surviving husband or wife, such estate of such intestate shall descend and pass as follows:
1. If the deceased have a child or children, or their descendants, the surviving husband or wife shall take one-third of the personal estate, and the balance of such personal estate shall go to the child or children of the deceased and their descendants. The surviving husband or wife shall also be entitled to an estate for life, in one-third of the land of the intestate, with remainder to the child or children of the intestate and their descendants.
2. If the deceased have no child or children, or their descendants, then the surviving husband or wife shall be entitled to all the personal estate, and to one-half of the lands of the intestate, without remainder to any person, and the other half shall pass and be inherited according to the rules of descent and distribution; provided, however, that if the deceased has neither surviving father nor mother nor surviving brothers or sisters, or their descendants, then the surviving husband or wife shall be entitled to the whole of the estate of such intestate.
You can read the entire statute at the related link.
Can you get a loan on property that is in probate court?
Advance on an Inheritance : Probate Loans & Trust Fund Inheritance Advances
Technically, what you are talking about is an inheritance advance rather than a loan. With an inheritance cash advance, you can get your money in less than a week, compared to the 6 months to 2 years Probate normally takes to release your inheritance.
Because this is an inheritance advance rather than a loan, your credit is never an issue, there are no monthly payments, and you'll never have to borrow against your home or any other personal assets. The cost structure associated with an inheritance advance depends on a number of factors. These factors include the nature of assets in the estate (cash vs. stocks/bonds vs. real estate), expected time to distribution etc.
It's worth noting that Inheritance advances are frequently referred to as inheritance loans, as they are here, however in fact they are technically inheritance cash advance "assignments", not credit and interest based loans with long term monthly payments. An inheritance advance is also called an heir advance or estate loan by many people who are actually experienced with the inheritance advance process. Getting an advance on an inheritance has been around for over 20 years, and the title for the process has gone through many revisions from attorneys, executors, trustees and heirs.
Basically, the cost corresponds with the amount of risk the company takes on and overall size of the inheritance cash advance. For example, if the estate is expected to pay out very quickly (say 6 months or less), or is comprised of only cash assets (bank accounts etc.), the price will be relatively low.
On the other hand, if the estate is comprised of unsold real estate or the decedent passed intestate (without a will), and it looks like it could take up to 2 years to distribute, the cost will naturally be higher. In other words, the level of risk to the company determines the overall cost of the advance -- along with the amount of the inheritance loan and of course when final distribution is reached.
Because an inheritance advance is not a loan, your credit is not a critical issue, and there are no monthly payments. Inheritance loans, or inheritance advances, are paid back in one lump sum -- when probate closes if it's a probate loan, or when a trust reaches "final distribution" if it is a trust fund inheritance loan.
If the inheritance fails to materialize or is seized by any government agency (for taxes or child support), inheritance advance companies build the risk into the pricing and will never seek repayment from you. Inheritance cash advance businesses charge a fee in exchange for the convenience of receiving funds in such a short amount of time.
Generally, these firms charge a fee that comes directly from the estate of 10 to 40% of the cash advance. The beneficiary agrees to assign a portion of their inheritance to the funding source. Firms specializing in inheritance loans, probate loans and trust cash advances, are often seen as being in the same category as funding sources that buy out structured settlements for immediate cash. They are in fact very different, and rarely crossover.
Speed, or a fast turnaround, is often an issue with a probate loan or trust fund inheritance advance. inheritance loans are frequently a last and final financial option before losing one's home or car, or other catastrophic results related to a lack of cash flow or financial liquidity. Businesses that specialize in inheritance loans charge a fee to advance you inheritance money when you need it urgently. It's okay as long as the party entering an inheritance loan agreement is fully informed and fully understands the inheritance advance process -- whether it be an inheritance loan for a trust, or for a probate loan.
Loan on Property in an Estate
The duly appointed administrator or executor of an estate can petition the court to approve obtaining a mortgage on the property for several reasons that include:
- Maintaining the property before it can be sold.
- Repairing the property for sale.
- Pay costs and expenses during the administration of the estate.
