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Estates

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

6,325 Questions

Marriage will die out?

==One Answer== It is doubtful that marriage will ever "die out". Laws change extremely slowly. Marriage is a legal status that provides the couple within the marriage with hundreds of legal rights. Those rights are bestowed automatically the moment the partners say "I do". It would not be in a society's best interest to allow that privileged status to "die out". There are other cultural and societal benefits of marriage. It provides stability in a community and fosters the strengthening of the foundations that build a community. The world revolves around self interest and it would not be in the self interest of society to allow marriage to "die out". On the contrary, with states slowly coming around to the reality that same sex couples can form stable, long term relationships, marriage may be on the increase.

Should jewelry belonging to deceased mother who died without a will go to the daughters in Massachusetts by law?

Apparently any daughters of the desceased were not as interested in jewelry as the mother; or this would have been talked about while she was still with them. Being a mother; I would want my two grown daughters to keep anything that was really important to them and sell the rest and split the money. Material things don't have to be as important to the kids as the mother might have felt. Any mother would want the daughters to make it as easy on them as possible.

What is the person named in a will to carry out the provisions of the will called?

Executer or executrix Executor, whether male or female. The person who executes the Will is the Testator (if male); or Testatrix (if female). The Executor is the person who is called upon by the Testator or Testatrix to execute the last wishes of the deceased. ==Another Perspective on Gendered Terms== In the past, a woman appointed to carry out the distribution under a will was called an executrix or executress. However, language that unnecessarily defines feminine and masculine status is changing. There has been a widespread reform in the use of words that grew out of patterns of patriarchal thought and that were codified in the English language. Therefore, the term "executor" has come to be the more commonly used term for the person appointed by the court to carry out the directions of a testator in making distributions under the will. It is not necessary to further classify that person as female or male.

Who were king john's siblings?

He had tonnes of them... Check out the question "How many siblings does King John have?" as it mentions there names.

Is it against the law to have a POA from another state?

No. Generally, a POA that was drafted in one state can be used to execute documents in another state as long as the attorney-in-fact has an original copy of the POA and signs an affidavit stating the POA has not been revoked and the principal has not died. In transactions regarding real estate those documents should be recorded with the deed that was executed under the POA. You need to check the practices and requirements regarding POAs in your particular state.

Your sons dad died you weren't married His mom is the executrix and won't tell you what is in the will How can you get a copy of the will you know your son inherited everything?

The person designated to handle a deceased's estate has to follow the legal procedure in the manner it is presribed by the probate laws of the state. They must notify all beneficiaries of the will after it has been filed with the probate court. Individuals who are named in the will cannot request a copy of the will nor contest it until the appropriate time. Taxes have to be filed and paid, creditors have to be notified and given the set time for filing claims for repayment of debts, the filing fees, legal fees etc. have to be paid, and so on and so on. After all of this is done, assuming the will has been deemed valid the remaining assets will be distributed to the persons named. There are assets which are considered exempt from probate procedures but those also will NOT be released until all other issues have been resolved. The executor or executrix has no obligation to reveal the terms of the will (some state laws will not permit such action), nor will copies be made available to anyone until all legal procedures are finished. Persons who have accepted this large responsibility are bound by law to follow the exact procedures and terms and often are required to place a bond ensuring all assets will be protected during the lengthy court process. It is not a matter of a beneficiary simply requesting their alloted share, especially if it involves minor children. In many instances after probate procedure is finished there is little if any monies or property left for distribution, regardless of the terms of the person's will.

What happens when your father dies with a will leaving his spouse and four children the house and land the stepmother dies without a will does her portion of the land go to the all the children?

In such a case the state probate succession laws of the state where the property is located would apply. Generally exempted property and assets in such a situation will follow the bloodline, which means the biological children who know hold a portion of the property would receive equal shares of the deceased stepmother. However, the titling of the property could be equally important if the issue is contested by other parties. All property owners should use great care in titling any real property to avoid future complications due to divorce, death, judgments, etc.

Who is liable for your mothers hospital bills if there is no will?

Your mother's estate is responsible for her debts. If she owned any assets then her estate must be probated to give her creditors the opportunity to make claims. If she had no assets then you should notify her creditors of her death by sending a copy of the death certificate with the bill to the billing office.

If a couple voids their prenuptial agreement after they are married will the children of one spouse have a case for overturning the revocation after they pass away?

A married couple that entered into marriage with a prenuptial agreement and then decides to void it, it must be done with a lawyer and both signatures must be on the document. Verbal voiding is not acceptable.

How can adult children gain access to a deceased parent's bank and investment accounts in New York?

Unless the person is the executor of the deceased's estate or is a joint account holder then he or she cannot gain access without an order from the state probate court.

How can you obtain a copy of your deceased father's will if you don't know who his lawyer was?

In many states, a copy of the will or the original can be recorded or stored in the probate court where the testator lives. If the will was admitted to probate, the will is a matter of public record and can be accessed in the probate court for the place where he died.

Otherwise, if you are not sure who has the will and you cannot find even a copy, it gets difficult. You can place a notice in the local newspaper, or in a state, county or local bar association journal, or in the local probate court.

How do you request to replace an executor of a will in Texas?

Any interested person can petition to remove an executor. An interested person is usually any present or future beneficiary or creditor who has a stake in the estate. The petition for removal may be combined with a request for appointing a new, alternative personal representative. The objecting party must present all facts showing "cause" for the executor's removal. If the court determines that there are sufficient grounds then the executor must show why they should not be removed from the position. If the executor fails to attend or answer the court's request, they will automatically be removed as the representative.

How do you transfer property out of a living trust?

You must look to the trust instrument for instructions. If there is no power in the trustee to transfer real estate recited in the trust document then you will need to have the situation addressed by a court order.

Do you need both a power of attorney and excutor of estate paper?

No. To handle an estate you need letters testamentary from the probate court.

No. To handle an estate you need letters testamentary from the probate court.

No. To handle an estate you need letters testamentary from the probate court.

No. To handle an estate you need letters testamentary from the probate court.

What happens to my money if I die and my wife is a perment resident?

If you want your wife to inherit your property (as she should) then you must execute a will to that effect and make certain it meets the requirements of the state where you live. If the money is all you have you could make your wife the beneficiary of your bank accounts. That could avoid probate and could be done at the bank.

If you do not do any of the above then when you die your property will pass to your next of kin according to the laws of intestacy of your state. Depending on the amount, your wife may inherit it all but the estate would need to be probated. That costs money. You can check your state at the link below.

Do the heirs of an estate get a full accounting by the executer of the estate?

First the executor must be appointed by the probate court. Once appointed the executor is obligated to follow the rules set forth in the probate code which includes amongst other things publishing a notice the the estate is to be probated, filing an inventory of the assets both real and personal and the final task of filing a final account with the court accounting for all the property that was listed in the inventory and to whom it was distributed.

If the executor doesn't provide copies to the heirs they may obtain copies of any filing in person or by mail from the court. By obtaining copies as they are filed the heirs can monitor the activities of the executor and make certain he/she is performing their duties in a timely and effecient manner. If they aren't, the heirs can complain to the court and ask that the executor be compelled to act responsibly or replaced.

Can an executor sell a vehicle to a family member if all heirs agree the vehicle is not in the Will?

Yes they can, but the there are 4 heirs, then at least 3 have to agree. The vehicle is just part of the Estate. Sometimes there are boats or other properties involved. Even homes can be sold with the agreement of all involved in the well as most people would rather have the money. If one of the Heirs (perhaps a son or daughter) really wants to buy and live in the home as long as they pay the market value of that home they can do so and that money goes into the Estate and is divided equally by the other Heirs. Marcy

In Pennsylvania if a house is deeded to both divorced parents and one dies without a will and two children are involved and only one is legal age what happens to the house?

Since the parents are divorced, the house is owned as Joint Tenants (not Tenants in the Entirity), so as Joint Tenants, the surviving parent would own half the house with the two children owning the other half. If the house is owned as Tenants in Common, which isn't as likely, then when one person dies, the other person gets the entire house.

Does a stepfather have rights to property if mother had a life estate?

No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.

No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.

No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.

No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.

Can one trustee sell property in trust without second trustee's signature?

That depends on the provisions set forth in the trust. You need to review the trust. The trust document may provide that any one trustee can act or it may require that both trustees join in any action taken by the trustees.

Is a deceased person's furniture taxable?

The value of the furniture forms part of the deceased person's estate. If that estate is liable to taxation in the country in which you live, then yes tax would have to be payed on it.

Who gets proceeds of sale when Life use property is sold?

If the life tenant is deceased the proceeds go to the "remainderpersons" who are the fee owners of the property. The life estate was created in some legal document such as a will or a deed. That document should identify the "remainderpersons".

Is a life estate agreement necessary?

For what purpose? Life estates can be used for a number of purposes dealing with the purchase of real property. In some cases the law provides a spouse a life estate in property regardless of who actually inherits the property under the will, or if there is no will.

Some people will purchase a piece of property subject to a life estate, which provides the seller with the use of the property until their death. This can provide the seller with assets to use in their older years for support.

Another Perspective

A life estate agreement is a great idea. It's not necessary but it would make the parties aware of their respective responsibilities. Most state codes define the responsibilities of a life tenant but many parties are unaware of those statutory provisions and many don't inquire about responsibility ahead of time. There are many questions asked at WikiAnswers by people wondering about the rights and responsibilities of the life tenant and the fee owners.

Does the power of attorney in the state of Florida entitle the person that has it to receive compensation from the estate he or she is overlooking?

Unsure of what it is that is being asked. A Power Of Attorney (POA) is only valid while the person that granted it is still alive. The minute the grantor of a POA dies, the POA ceases and the POA become invalid! On the other hand, an EXECUTOR of a will, who is usually named by the testator, MAY be required to post some kind of bond with the court which establishes their faithful and lawful execution of the will. This 'bond' may be waived by the testator, and the Executor MAY be granted compensation for their role in executing the estate IF the deceased provided for such in their will. In summation: the holder of the deceased's POA holds a useless piece of paper. The Executor of the deceased's will is in full control of the execution of the deceased's wishes.

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