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Estates

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

6,325 Questions

On a joint checking account in the state of Oregon where the two parties are not married and one dies can an attorney require the surviving owner to supply bank statements for estate purposes?

You should ask the attorney why the request has been made. Although the account is not a probate asset and it now belongs to you alone, the balance at the time of death may need to be reported on an estate tax return. I would only supply a copy of the last statement before the time of death unless the attorney requests additional information.

If the remainder of a life estate dies prior to the life tenant's death who is entitled to the property?

It depends on the language that created the interests.

Generally, the fee would be included in the remainderperson's estate. A will may provide that widow Mary shall have the right to live in the property until her death with the remainder to son John and his heirs to be theirs absolutely. John or his heirs would receive the fee after Mary's death.

The property would remain subject to the life estate until the death of the life tenant unless released in writing sooner.

After a person dies with a will and the estate is probated how long does the executor have to wait until assets are distributed to the beneficiaries?

They have to wait until the debts are settled. That may be as short as about 4 months. It can take years on a really complex estate.

Can you get property that you were to receive from a will if the estate was probated and the property was sold?

If the estate was probated and the property was sold to pay the debts of the decedent you cannot get it back. The debts of the decedent must be paid before any property can be distributed to the heirs. If there were debts and not enough cash assets to pay them then the executor may need to sell the real property. An executor can sell real property if that power was granted in the will or if the court issues a license to sell the real estate. If you have questions about what was done you should call the attorney who handled the estate and ask to have the issues explained to you.

Does the owner of a life estate to a residence also have life estate to property the dwelling is on?

Unless the life estate was restricted to the dwelling only the life tenant has the right to the use of the real property for the duration of their natural life. A life estate is an interest in the real property upon which the dwelling sits. The property affected by the life estate is the premises described in the deed to the property.

Can Irrevocable Trusts be self-prepared?

Yes. But the person who prepares it has a fool for a client. Trust law is one of the most complicated areas of law. An improperly drafted trust leaves the property vulnerable to creditors, taxes and probate. Errors made by amateurs are costly to correct if they can be corrected.

Yes. But the person who prepares it has a fool for a client. Trust law is one of the most complicated areas of law. An improperly drafted trust leaves the property vulnerable to creditors, taxes and probate. Errors made by amateurs are costly to correct if they can be corrected.

Yes. But the person who prepares it has a fool for a client. Trust law is one of the most complicated areas of law. An improperly drafted trust leaves the property vulnerable to creditors, taxes and probate. Errors made by amateurs are costly to correct if they can be corrected.

Yes. But the person who prepares it has a fool for a client. Trust law is one of the most complicated areas of law. An improperly drafted trust leaves the property vulnerable to creditors, taxes and probate. Errors made by amateurs are costly to correct if they can be corrected.

If not married in the state of Florida who receives estate?

It will be distributed according to the will. If there is no will the intestacy law of Florida will be applied.

How do you open estate account after death?

The executor or administrator must be appointed by the probate court. He/she will be issued Letters Testamentary or Letters of Administration then applies to the IRS using Form SS-4 to get a tax identification number for the estate. (The decedent's social security number cannot be used.) Then he/she goes to the bank and gives it one of the probate court documents that show that he/she is the executor, the tax I.D. number and a death certificate and the bank will create an estate account.

Do children of a deceased father get as much as the spouse in a wrongful death case?

You would need to check the laws of intestacy in your state at the related question link below.

If a TX inmate becomes a beneficiary of an insurance benefit can the state or Fed Gov't attach a portion of or seize all of the benefit for state or fed costs attributed to the person's incarceration?

Unless the court has ordered lien to be placed against the inmate's assets I'm not aware of any law that requires a prisoner to reimburse the state FOR THE COST OF HIS INCARCERATION, or that disallows him from inheriting. However, if the inmate has tax liens against him by the state or the feds, the inheritance can (and probably will) be seized in payment of those just debts -or- there is an order of restitution on file against him, it can also be seized in payment of that also.

What does probated mean?

Technically, probated means that the validity of a will has been established by a court proceeding. That term is also used to indicate that an estate of a decedent who died without a will has been administered via a court proceeding.

Is your trust fund marital property?

Generally no. A beneficiary's interest in a trust created by someone else would not be marital property. A grantor's interest in a trust that is revocable should be the same character as if the trust did not exist.

What does the law say about common law partners with regard to estates on death?

The laws regarding common law MARRIAGE are different in various jurisdictions. It has been abolished in most states and in the states that do recognize some rights, they do not extend to same sex partners. Generally, when a couple is not legally married, the surviving partner is not considered an heir. That's the reason people are encouraged to "make it legal", or, to make certain they have a valid will in place so their surviving partner will be provided for. You would need to do a search for "common law marriage + your state" for more specific information. Perhaps you can find something in the link provided below.

Are my stepdaughters entitled to their dead mother's share of inheritance from their grandmother who recently died naming her 2 daughters - one of them their dead mother - as beneficiaries in her will?

Generally yes unless the grandmother provided that should one of her daughters predecease her then that daughter's share would go to her other daughter. You should check with the attorney who is handling the estate.

You father is ill and you are in jail can your step sibling make a decision about your father's medical care?

No. A step child has no legal right to make medical decisions for your father unless they were granted that power by your father under a power of attorney or health proxy document or by a court order.

If your uncle had a life estate in real property who is responsible for paying the costs of cleaning after he dies?

If there is an estate you might try to file a claim against the estate for the costs associated with the cleaning. If there is no estate, the fee owners will need to absorb the costs for the clean up.

If the decedant had no will is there still an estate?

If the decedent owned any property at the time of death that property makes up her/his estate. If they had no will the property will be distributed as intestate property according to the laws of intestacy in the decedent's state. Some qualified person must petition the probate court to be appointed the administrator of the estate. Once they have been appointed they will have the power and authority to settle the decedent's estate under the supervision of the court. The decedent's debts must be paid before any property can be distributed to the heirs.

When is co trustee liable for a unauthorized act of another trustee?

A co-trustee is not responsible for the unauthorized acts of the other trustee unless she/he knew of the unauthorized acts and did not report them or facilitated them in any way. A trustee who mismanages trust funds is personally liable.

How can you get a clear title when buying land from someone that has been paying taxes on a property for 28 years but does not have the title or deed for that land in the state of Texas?

You need to contact an attorney who specializes in land law.

You need to contact an attorney who specializes in land law.

You need to contact an attorney who specializes in land law.

You need to contact an attorney who specializes in land law.

I have a full accounting of the estate funds and the executor took money from the estate how do get this money back from the executor I am a beneficary?

The executor is entitled to be paid for their work. The court has to approve the distribution and the fee they charged, which is often set by law. If the estate has been closed, you can sue the executor if they breached their fiduciary duty.

What options does the estate have for dealing with a car of deceased that has a lien?

The estate is responsible for settling all debt before any distributions are made to beneficiaries. So the lien must be removed by paying the balance due to the one who placed the lien. Then, the car can be sold and proceeds applied to residuary estate, if money isn't needed to settle other debts.

What are the consequences of refusing to serve as a co-executor?

The only consequences would be that you would not have any power or authority to distribute the assets as provided in the will, to make any decisions regarding the estate assets or to pay the debts of the estate. You would not be involved in the settling of the estate.

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