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Estates

Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.

6,325 Questions

Do I have a claim under the California Community Property Law if my late husband intended for his Retirement Insurance to go to me but his daughters are the named beneficiaries?

If by "retirement insurance" you mean a qualified retirement account covered by ERISA, then the retirement account had to provide that the surviving spouse is the beneficiary, unless the surviving spouse consented to a different designation (such as to the daughters). So the claim is not under community property law, but rather federal ERISA law. I'm not sure about California in particular, but in at least one community property state, you might have a claim for fraud against the community if your husband caused community assets to pass to someone other than you. It would be a difficult claim, though, because an exception to the fraud on the community claim is a "natural" disposition of the property. And it is natural for a father to leave assets to his children.

Who can live in house after life estate?

After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.

After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.

After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.

After a life estate has been extinguished the fee owners, sometimes called remainders, have the right to the use and possession of the property.

Can you trust an abuser to honor agreements?

Generally , no you cannot. An abuser by nature is not trustworthy. When someone abuses you, they tell you right there that you are less. They lie and blame to make you think that you are responsible for the abuse- you made them do it. They seem to be able to treat everyone else, including strangers, better than you. Abuse is a vicious cycle. The abuser may mask the problem for a while and get you to feel comfortable in the relationship but the cycle will always kick in again because the reason they abuse is always there in their own head.

Remember that ab abuser must always try to control, intimidate and manipulate you so they will agree to anything just to fool you into staying in the relationship. You need to seek professional advice to help you understand why you accept that kind of treatment and how you can move on with your life without the abuser.

How do I establish myself as an heir to an estate?

If the decedent died intestate or testate and you qualify as next of kin or are a named beneficiary or have some other legitimate claim against the estate then you should bring proof of your identity and proof of your relationship to the decedent to the attorney who is handling the estate or to the court where the estate has been filed.

How old must you be to claim inheritance under 1000 in the state of Ohio?

An inheritance is paid as soon as the estate has been settled. If you inherited as a minor and the money was put in trust for you, you can claim it at age eighteen.

Does an executor have to find living relatives?

That is one of their jobs. They have to notify all the beneficiaries.

Can an indivdual sell his portion of mineral rights when he is one third of an estate that has never been surveyed or divided?

Assuming you mean you and the others are tenants in common, generally yes, each can sell his or her percentage without the consent of the others. That may change if there's an agreement of some kind that controls the situation such as an inheritance that was part of a trust arrangement to keep the mineral rights in the family.

What can be done if executor mis handles funds?

An executor is held to a much higher standard than others, known as a fiduciary standard. If you have written evidence of the mis-deed, this person can be held liable. You should be able to find an attorney that will review your case, and assess the strength or weakness of your position. Many times, they'll take a case on a contingency fee basis, if they think it is a strong case. This means they won't charge you anything if they lose, and will charge you a certain percentage of the winnings, usually 20-33%.

How do parents deed house to children if one is married?

You should seek the advice of a real estate/estate planning attorney in your area who is familiar with the property laws in your state. There may be tax consequences. You should also discuss the consequences of a conveyance to your married daughter under the statutory provisions of your state.

Does the executor of the will have authority over how the beneficiary spends the insurance money?

No, executors are only involved in determining who to give money to, but they can't control what is done with the money by the people who receive it. Once you inherit money it is yours, to do with as you will.

Sometimes wills have conditions attached to them. For example, my son will inherit $50,000 but only after he gets married. That restricts his ability to inherit the money, by placing a condition on the inheritance. However, once he does get married and does inherit the money, he can still spend it any way he chooses.

If I were to say "My son will inherit $50,000 but I require him to spend it wisely" there is no way to enforce that. I might advise him to spend his money wisely, but in the end he will spend it the way he wishes, wisely or foolishly.

Does a trust arise when legal and equitable title are merged?

Generally, when legal and equitable title are merged there is no trust. There is a merger of title that would result in the invalidation of a trust if, for example, the trustor, trustee and beneficiary were one and the same person. A person who is contemplating a trust should always consult with an attorney who specializes in trust law in the state and who has a good reputation. State laws vary and trusts must be carefully drafted to comply with federal tax laws. If a trust fails, the property remains vulnerable to creditors, taxes and the property will be part of a decedent's probate estate. Trust errors can be costly to correct if they can be corrected.

The essence of a trust is splitting the legal and equitable interests.

Why was Ruth considered an outsider and without property rights?

she was considered an outsider because Ruth was from Moab, and had no property rights because she was a widow and did not have any children.

Do you by law have to probate a will?

Yes, you do have to probate a will. The court is going to insure that the will is executed and protect the desires of the deceased. They also want to make sure that the state gets the appropriate taxes.

What are probate fees?

In the Uk the current Court fee for those attending court in person is £105.00 (August 2012) plus £1 for each additional copy of probate requested at the same time as the application.

Laws of intestacy?

If a person dies without a will, in the United States, state law determines who inherits the estate. In one case, if there is a wife and no children, she gets it. A wife and one child each get half. A wife and 2 children each get 1/3. If there is wife and more children, the wife gets 1/3 and the children split the rest. If there is no wife or children, the parents get it. Next siblings split it. Next Aunts & Uncles, then first cousins, and finally second cousins split it. So it gets split in the order of relationships with the closest related getting it and splitting it. If there is no one real close then the more distant spilt it. Third cousins get nothing. At that point it goes to the state.

If a man with five children dies and two of his sons live in his house and run his restaurants how can his daughters get their share of the estate?

His daughters can petition the probate court to be appointed the administrators of his estate. Once appointed they will have control over all the property owned by their father at death. They should consult an attorney who specializes in probate who can review the situation and explain the options. If there was no will the property will be divided equally among all the children. If the brothers want to keep the house and business they must purchase the shares owned by their sisters. You should consult an attorney ASAP.

The estate was probated a year ago and administrator refuses to contact me. I fear he's 'run off' with the proceeds. Do heirs HAVE to receive 'settlement papers' after an estate has been probated?

You should visit the court immediately and ask for instructions on how to file a petition to compel the administrator to account for his actions regarding the estate. You should also contact the attorney who is handling the estate. Stealing the proceeds from an estate is a criminal offense. You have waited too long already.

You should visit the court immediately and ask for instructions on how to file a petition to compel the administrator to account for his actions regarding the estate. You should also contact the attorney who is handling the estate. Stealing the proceeds from an estate is a criminal offense. You have waited too long already.

You should visit the court immediately and ask for instructions on how to file a petition to compel the administrator to account for his actions regarding the estate. You should also contact the attorney who is handling the estate. Stealing the proceeds from an estate is a criminal offense. You have waited too long already.

You should visit the court immediately and ask for instructions on how to file a petition to compel the administrator to account for his actions regarding the estate. You should also contact the attorney who is handling the estate. Stealing the proceeds from an estate is a criminal offense. You have waited too long already.

When you dont agree on intestacy distribution?

Intestacy distribution is governed by state law. The formula is easily followed when the property is cash or the proceeds from sale of property. However. if the heirs-at-law cannot agree on a fair division of personal property then the settlement of the estate can become more difficult and more expensive.

The administrator has the power and the responsibility to make distribution of the property. In a "friendly" administration where everyone co-operates the family can usually decide on how the property will be divided. If the heirs disagree, the distribution process becomes more costly. The property must be appraised. The administrator can then make a fair distribution based on the fair market value of the property or the property can be sold and the proceeds divided equally according to statutory provisions. If the last method is used, the cost of the appraisel will be deducted from the proceeds and the sale of the property may not yield a very high return. Items of sentimental value will be sold.

The bottom line is that refusal to co-operate will result in a diminished value of the estate. The family needs to meet and the realities must be understood and discussed by all. Perhaps the attorney who is handling the estate can act as the moderator or suggest a mediator who could act as a disinterested third party. However, everyone should keep in mind that the court appointed administrator can choose to go above the squabbling and divide the property as fairly as possible.

Is a living trust EXEMPT FROM BANKRUPTCY?

Sometimes, parts of a living trust can be exempt from bankruptcy such as exemptions for a homestead, but even that isn't always the case. How a living trust is treated in a bankruptcy varies depending on how the laws of the state treat this type of trust as a whole. Typically though, living trusts are not fully exempt from bankruptcy.

If you inherit money can the executor pay it as an annuity?

It may be worked out that way in the will. Or if a trust were set up that way, it is often done to protect assets.

What do executors do when beneficiaries refuse to collect chattels in England?

In England, chattels are goods capable of being transferred by delivery. If the beneficiary refuses to collect their inherited property then you should send it by currier to be delivered with a signed receipt and charge the cost to the estate for that service. Or, you should petition the court for guidance.

What is a low priority claim?

A claim that gets paid only after higher priority claims are paid in full. Higher priority claims can include expenses of last sickness, funeral expenses, expenses of administering the decedent's estate, and sometimes child support.

Bank statements sent to heirs prior to disbursing estate should accounting of cash taken from account when parent was in or near coma before death be included and accounting of what was retreived?

I am very sorry about your parent's passing. Usually the bank statements are sent to the Executor (male) or Executrix (female) that was named in the Will. It's obvious that one or more of you were Power of Attorney over your parent while she/he was living so yes, you should have done simple bookkeeping as to what is spent on your parent's medical care, hospital stay, possibly the cost of staying in a nursing home, etc. It really isn't the law, but just good business sense so there isn't any second-guessing amongst Heirs in the Will. My mother passed away 2 years ago. When she was in the nursing home my brother was Power of Attorney. His duties were to pay all the bills such as medical expenses, etc. He had the right to sell her condo and the money from the sale went into her account. I was an Heir and I had the right to ask to see the transactions of ALL that went on while my mother was still living. I didn't of course because I trusted my brother. Sometimes when there is a disbute in the family, the lawyer, before dispursing the money can show exactly where the money went. Probate also usually takes care of all your problems. An Executor/Executrix HAS TO ACCOUNT for all monies spent while that person was living right down to the funeral costs. Probate makes sure that all creditors (including personal/property taxes) are paid in full and what is left in the Estate (Residue) is disbursed amongst the Heirs. Marcy

How should an estate be divided in a family?

Wills are often a source of contention amongst the beneficiaries. However, there are many reasons the gifts may be unequal and there is no set rule since property division by a will is the prerogative of the testator and it can be affected by many factors such as:

  • One child may have been more helpful to a parent and after death the parent wants to reward that child.
  • One child may be more fortunate in their life through their superior abilities, career opportunities or marriage and they may not need as much as another child.
  • One child may have been given more during the life of the decedent.
  • One child may have been more of a problem during the parent's life and their behavior has resulted in less of an inheritance.

If a parent dies without a will their property will be distributed according the the state laws of intestacy. You can check the laws in your state at the related question link.