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Estates

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

6,325 Questions

Did Moses have siblings?

Yes he had a brother named Aaron and a sister named Miriam.

Can you be the hier of your step-great grandmother's estate who died without a will?

Step relatives are generally not legal heirs at law in an intestate estate (without a Will).

Step relatives are generally not legal heirs at law in an intestate estate (without a Will).

Step relatives are generally not legal heirs at law in an intestate estate (without a Will).

Step relatives are generally not legal heirs at law in an intestate estate (without a Will).

What are Trusts?

The common law recognizes two types of property ownership: legal ownership and equitable ownership. 'Legal ownership' refers to the ownership at face value, for example, the person in whose name an automobile or a piece of land is registered. 'Equitable ownership' looks beyond face value, to the true owner. This is the area of law where you will come across trusts. If you provide your money to someone for the purpose of buying something for you, and that person buys it in his or her name instead of in your name, that person is said to own that something 'in trust' for you. (Note: This example holds true whether or not there is any fraudulent intent involved. It is not unusual for the 'paper' ownership of something to be in a name other than the true owner, without any fraudulent intent whatsoever. The stockmarket is a prime example of this.) If I give you some of my money and ask you to go to the auction sale and buy a dozen chickens for me, the bill of sale may be in your name, (i.e., you have legal title to the chickens), but I have equitable ownership of the chickens. In other words, you own the chickens 'in trust' for me. Sometimes a trust is set up by means of a lengthy legal document, sometimes by a verbal agreement, and sometimes just through a course of conduct of the parties involved.

If your spouse inherits money during your marriage in New York state and he files for divorce are you entitled to any of the inherited money?

Wisconsin is a community property state. That means whatever individual property you bring to the marriage, or acquire by an individual gift or inheritance, remains your individual property.

What is mileage allowance for the executor of a will?

Currently the Federal Government authorizes 55.5 cents a mile, which unless limited by state law could be justified by the executor.

Can an uncle who is the executor of a deceased father's estate dictate when and how his estate is used or divided when the deceased's children are the beneficiaries?

The will must be adhered to and if not, you can probably create a suit that removes him as the executor of the will and instates someone else (probably a court-appointed lawyer). Any property specifically left to you is yours; nobody can change that by any legal means.

However, if there is no will or if he is deciding how and when to use items or property not included in the will, that is his job as executor;you might make a case that he is not fairly doing so, but otherwise tough luck.

When a person dies and has life insurance is there a way to find out how much money was left to the beneficiary if you are not the beneficiary?

I believe if you are the personal representative or executor of the will you would need to contact the life company providing them with original death certificate and probate papers and you ought to be able to find the worth out

If I die Does the executor of estate supersede my husband if his name isn't on the property?

A testator chooses an executor to take charge of and settle their estate after they die. The executor must file the will in probate and must be appointed by the probate court. The executor has no legal power until they've been appointed by the court. The court generally will appoint the executor that was named in the will unless someone files a legitimate objection.

The executor has nothing to do with your husband's right to inherit from your estate. If you die owning property in your own name, and you don't live in a community property state, the property will be distributed according to your will, or, if you have no will, it will be distributed according to the state laws of intestacy. You can check the laws of your state at the related question link provided below.

Can a beneficiary use property as collateral if other beneficiaries don't agree?

The executor is the only one that can use it for collateral. It is a big risk, but some will be willing to loan money on probate.

What is a parent of primary residence?

The parent you primarily reside with. The parent with physical custody.

If my husband passes away and we have set up a family trust can i sell our home if he dies to downsize or is it a part of the trust?

In order to become trust property any real estate must be transferred to the trust by its owner who is called the donor. Once the property is transferred it can only be managed by the trustee under the provisions set forth in the trust instrument. It is no longer the property of the donor. Transferring property to a trust is a big step and you should consult an attorney in your area who specializes in trust and real estate law to draft the necessary documents for you. The attorney can answer any questions and explain the consequences.

If your mother never made a will but put you on her bank accounts what happens when she dies?

You go on a spending spree with ma's money, claiming bullheadedly that it is 'your' money because your name was on the account too.

You ignore the loud noise coming from your siblings as they try to explain that it was Ma's money, not yours. You continue to insist that it is your money now that ma is dead, because your name is on the bank account.

One of your relatives turns you in to the IRS and you are sent a notice of thousands of dollars tax due on 'your' money since it was 'given' to you.

You quickly change your tune and start saying that you don't owe the tax because it was your ma's money and she never gave it to you. You know you have to make it look like ma's money now because you have spent almost every penny of it There is not enough left to pay the taxes due. And by-golly, you aren't gonna pay the taxes out of YOUR bank account!

You finally convince the IRS that it was not your money and they issue a new 'Tax Due' statement, listing your Mom's Estate as the entity responsible for paying the tax. Of course there is no money left in Mom's Estate because you spent it all already.

About that same time, your Mother's creditors successfully petition Probate Court to have your Mother's estate probated. The Court sends you a summons requesting you to account for every penny that was in your mother's bank account. Your reluctance to provide information to the Court sends up a red flag that something is amiss. The Court authorizes an accountant and a Private Investigator to determine the whereabouts of the money that was in your Mother's account.

All the bank records show that YOU withdrew all the money.

All of your relatives gleefully sign sworn statements that you spent the money AFTER being repeatedly warned that it was not your money.

A review of your activities shows many large-dollar purchases after your mother's death, which can't be justified on your $8.25 per hour wages. A boat purchase, trips to Vegas and Hawaii. Hotel bills from high-dollar Ritzy, Swanky places. Jewelry for your girlfriend(s). Large Credit-Card balances suddenly paid in full.

After further investigation, you are arrested and convicted of fraud and embezzlement. You are sent to prison for ten years, you are required to pay back every penny that you stole, and you receive a $250,000 dollar fine on top of all that. Your wife leaves you while you are doing your prison time. Upon release, ten years later, you are penniless, $400,000 dollars in debt, and homeless.

One week later you are arrested for shoplifting from the food section of the local WalMart SuperCenter. The rest of your life is marked by numerous stints in the County jail and State Prison for various petty crimes. You never again have a job paying more than the minimum wage because of your Felony conviction of Fraud and Embezzlement. Your family disowns you and refuses to even acknowledge your existence because, as they describe it, you stole their inheritance and spent it all.

One cold November morning in the future, your lifeless body is found curled up by a fence surrounding a warehouse. The coroner rules your death as accidental, due to exposure (i.e you froze to death, literally). Blood tests showed large amounts of alcohol. Although you are identified from your fingerprints, due to your prior military experience, your family refuses to claim the body. You are buried in a pauper's grave with no headstone. The only attendees at your funeral are the mortuary workers.

OR--------------------------

(Version #2) You fully realize that whether your mother is alive or dead, it doesn't matter -- that money is not yours and you know it. Mom passes on and you leave your fingers off the money. The creditors have the estate probated and everyone gets paid what they are due. There is enough money left after paying final expenses so that you and your family members each get $17, 634 dollars. You use your share to pay off two credit cards and then take your wife to dinner. And you live happily ever after.

If one joint power of attorney refuses to participate in the handling of the estate what can the other do to take care of the estate matters that are at a standstill?

Estates do not use power of attourney, they are managed by the executor(s) named in the will. It is the executors LEGAL DUTY to do what the will instructs - if an executor does not want to do this then a court will need to decide what to do.

If a person that reserves a life estate in property but does not occupy the property becomes incapacitated and has a power of attorney does the appointed person have control over the property?

The power of attorney will have control of the property as long as the individual remains living. The life estate and the power of attorney expire on the death of the grantor.

Can you force a executor of a will to sell house when he is being unfair?

Possibly if the "unfairness" violates the executor's duties -- you'd have to petition a probate court and if the will hasn't been probated you might have to have the estate opened. There are different procedures in different states.

Can you leave a life estate if you owned the property jointly?

No. At the moment of death your interest disappears and the surviving joint tenant becomes the sole owner. You have nothing to leave to anyone else.

If a spouse dies in Texas and has no will what happens to the house when there is a surviving spouse and kids involved?

Texas is a community property state, therefore home ownership will automatically revert to the surviving spouse, and will not be included in probate procedures. Of course all the terms of a mortgage and/or home equity agreement will need to be adhered to, to prevent foreclosure or other legal difficulties. How very sad. Dying without a will is very common, both Abraham Lincoln and Howard Hughes died without making a will. check out this website which has a lot of very useful information, and the law you are looking for. http://www.professorbeyer.com/Articles/Intestacy_Texas_Basics.htm

Can executor take full fee on sale of home if it is the only thing in the estate and left to the 3 children?

Yes, the proceeds of the sale must be used to resolve the claims against the estate, including the cost of the executor.

Can there be only one co-executor?

No, in fact, you can have as many co-executors as needed. However, as you can imagine, the more co-executors you have, the more complicated administering the estate becomes. I always suggest that only one executor is named, followed by an alternate executor if the original executor cannot act, or has pre-deceased the testator.

What happens if you did in North Carolina and have no will?

what is if you did in north carolina?"

i think they mean if u died. and i rly dont know

What recourse does a beneficiary have when the Executor gives away all significant belongings before the beneficiary has an opportunity to choose something?

Plenty... there is a whole body of law called "Equity" that grew out of precedent and became formalized in the UK, to protect the rights of beneficiaries, especially minors, incompetents and family members where there is no will written, or in contested wills and such. The law of many countries seem to follow English law on most general issues.

To answer your question more specifically, are you a named beneficiary of the will, and are the items listed in the will per se? Are the items gifted to anyone specifically in the will, if not the items in question would presumably become what is known as residuary items and usually the residual items are proportionately spread amongst the multiple beneficiaries or given to the only beneficiary. Note however that in the calculation of the residual items, monies must first be deducted for estate taxes, debts, fees and expenses of the administration. If no money is available, personal items such as paintings, furniture etc could be sold to pay the estate's expenses.

Any grievance on your part should be documented at the first opportunity and in the US you could discuss this and document your grievance with the District Attorney, or taken to a family or probate court (in USA) or in England to chancellory court.

If the executor has taken action but say only after many years (eg 5 years after the death of the settlor), your case would be weaker. If the executor acted in concert with the other executors your case would be weaker. If the executor did this action without contacting any beneficiaries, your case becomes much stronger. If the executor gave items to non-family persons, and you are family, your case becomes strong. If the executor gave items to family members who are equal to yourself in relationship to the deceased settlor, (eg. you are one of many children) your case is still a good one, as you should have participated in the sharing.

Is a car considered part of the debt of an estate to be paid by the estate?

A car would be a part of the estate. If there is a loan on the vehicle, the estate has to determine what to do. They can sell it if it makes sense.

What is distribution in kind?

Distribution of asssets "in kind" generally means that the asset itself is distributed to a beneficiary as opposed to the asset being sold with the cash being distributed. An example is where an estate has physical assets like stock certificates or real estate. The beneficiaries can normally request that they get the certificates or property (in kind) or that those assets be sold by the executor with the cash being distributed.

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