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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
Can the children of a deceased person be held responsible for their outstanding debt?
No you are not responsible, but if your parent(s) left a Will and you are named Executor (male) Executrix (female) or someone else is and you are heirs in the Will (highly possible) then the Estate of your parent(s) meaning house, property, summer homes, monies, stocks/bonds, savings in banks, etc., will have to go to Probate. Probate makes sure that all taxes on any property are paid and all out-standing debts are paid first. What is left is divided according to the wishes of your parent(s) in the Will. It take approx. 1 year (or less) to Probate a Will. If you are named Executor/Executrix you will be informed, and if you are an heir in the Will you are entitled to a copy of the Will. Don't count on the fact that you were estranged from your parents and you're not in the Will because they can do odd things for their kids. My mother and I were estranged due to her having Dementia, but I was left money in her Will although she told me I would never see a cent. If in doubt, always see a lawyer to be sure you are in the Will as an heir and if not and you feel you are entitled to your share then you can "contest the Will" which can hold up the Will for 3 years or more depending on the amount of monies or properties (including business') left behind. If you have greedy siblings or relatives they really don't want to go down that road of contesting a Will ... they want their money now! They would be more than willing to settle with you. It's worth seeing a lawyer to be sure what you are entitled too. Hope things work out for you. Marcy
What expenses can be claimed as an executor of an estate?
Reasonable expenses can be charged to the estate. The executor can also receive payment.
Can a life estate established by deed expire if the grantor goes into a nursing home?
Laws vary regarding life estates. You should consult with an attorney in your jurisdiction who specializes in real estate law.
Laws vary regarding life estates. You should consult with an attorney in your jurisdiction who specializes in real estate law.
Laws vary regarding life estates. You should consult with an attorney in your jurisdiction who specializes in real estate law.
Laws vary regarding life estates. You should consult with an attorney in your jurisdiction who specializes in real estate law.
If anyone has recently challenged a will arguing the law of primogeniture?
My brief answer to the question posed depends on where the person posting the question is. If you are in South Africa you will know that the pinnacle court of the land, to wit the South African Constitutional Court in the celebrated case of Bhe held unequivocally that the principle of male primoginature is unconsitutional for it is discriminatory and against the well entrenched consitutional right to equality. The other angle to this question is the whole issue of the deceased's freedom of testation. According to this principle, the deceased's freedom to bequeath his or her property to anybody (including juristic personas) can not be disturbed. On the strength of the Bhe decision and the freedom of testation principle, therefore, I don't see how a person can challenge a will from the angle of the law of primogeniture.
You will need to provide some proof of your relationship to the decedent when you file a claim against the estate. You should consult with an attorney who specializes in probate law who could review your situation and determine what your options are. She would also know how you can establish your relationship to the decedent.
Can an accused murderer inherit from the victim's estate?
The inheritance would be held in abeyance until the accused has been found guilty. A person found guilty of murder cannot inherit from that person's estate by will or by intestacy, nor can they benefit by virtue of survivorship.
The inheritance would be held in abeyance until the accused has been found guilty. A person found guilty of murder cannot inherit from that person's estate by will or by intestacy, nor can they benefit by virtue of survivorship.
The inheritance would be held in abeyance until the accused has been found guilty. A person found guilty of murder cannot inherit from that person's estate by will or by intestacy, nor can they benefit by virtue of survivorship.
The inheritance would be held in abeyance until the accused has been found guilty. A person found guilty of murder cannot inherit from that person's estate by will or by intestacy, nor can they benefit by virtue of survivorship.
Does the surviving spouse have the right to live in the spousal home after the death of a spouse?
That depends on whether your spouse left a will and the provisions in the will or if they died without a will (intestate). If your spouse left the home to you in their will the estate must be probated and title will pass to you. If they provided you with a life estate in their will you can continue to live there for the duration of your natural life. If they left it to someone else, their children, you may have a statutory right to a share.
If they died without a will you may have a statutory share under the state laws of intestacy which you can check at the related question link provided below. You need to consult with an attorney who can review your situation and explain your rights and options.
Can a life estate stop liens from being effective on a house that's paid for?
No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.
No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.
No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.
No. However, it depends on the type of liens. Liens against the fee owner can be recorded but may be subject to the life estate. Property tax liens take effect in spite of a life estate. You need to be more specific as to the type of lien and who is the debtor.
The trustee shouldn't keep any information from the beneficiaries. They should contact the trustee by a registered letter and ask to review a copy of the trust. Since they are the beneficiaries they have a right to review the trust to make certain the trustee is following the terms of the trust. They should also request an accounting of the trust assets. If the trustee doesn't cooperate the beneficiaries can seek a court order.
Situations involving trusts can be very complicated. The beneficiaries should seek advice from an attorney who specializes in trusts and probate law.
Can a trustee take the property placed in a trust?
Yes, but not legally. A trustee who takes property from the trust without the permission of the trustor is stealing and can be prosecuted.
The maker of a trust has the right to decide what powers will be given to the trustee and all is set forth in the document that creates the trust. Trust law is extremely complicated and trust documents should be drafted by an attorney who specializes in trust and tax law. The trustee only has the authority granted in the trust.
However, a trustee has broad powers over the trust property and is in a position to steal from the trust. For that reason the trustor must choose a capable person as trustee, one with good character and good organization skills, one who has the time to manage the trust property and provide accountings of all their actions taken with respect to bank accounts and property.
Yes, but not legally. A trustee who takes property from the trust without the permission of the trustor is stealing and can be prosecuted.
The maker of a trust has the right to decide what powers will be given to the trustee and all is set forth in the document that creates the trust. Trust law is extremely complicated and trust documents should be drafted by an attorney who specializes in trust and tax law. The trustee only has the authority granted in the trust.
However, a trustee has broad powers over the trust property and is in a position to steal from the trust. For that reason the trustor must choose a capable person as trustee, one with good character and good organization skills, one who has the time to manage the trust property and provide accountings of all their actions taken with respect to bank accounts and property.
Yes, but not legally. A trustee who takes property from the trust without the permission of the trustor is stealing and can be prosecuted.
The maker of a trust has the right to decide what powers will be given to the trustee and all is set forth in the document that creates the trust. Trust law is extremely complicated and trust documents should be drafted by an attorney who specializes in trust and tax law. The trustee only has the authority granted in the trust.
However, a trustee has broad powers over the trust property and is in a position to steal from the trust. For that reason the trustor must choose a capable person as trustee, one with good character and good organization skills, one who has the time to manage the trust property and provide accountings of all their actions taken with respect to bank accounts and property.
Yes, but not legally. A trustee who takes property from the trust without the permission of the trustor is stealing and can be prosecuted.
The maker of a trust has the right to decide what powers will be given to the trustee and all is set forth in the document that creates the trust. Trust law is extremely complicated and trust documents should be drafted by an attorney who specializes in trust and tax law. The trustee only has the authority granted in the trust.
However, a trustee has broad powers over the trust property and is in a position to steal from the trust. For that reason the trustor must choose a capable person as trustee, one with good character and good organization skills, one who has the time to manage the trust property and provide accountings of all their actions taken with respect to bank accounts and property.
If the owner of the property dies can the executer of her will take a loan out against the property?
The executor may grant a mortgage only by permission of the court and only when the proceeds are necessary to pay debts and charges of the estate.
Can a foster child get an estate after their foster parents die?
A foster child have no birth right after their foster parents so it's only if they are mentioned in the will.
I do believe that the house can be kept. As long as all her physical money is gone, the state will pay the rest of her stay.
First, the Probate of an estate is ruled by the laws of the state where the deceased legally lived at the time of death.
The execution [signing] of a form agreeing to allow your brother to act as Executor of the Estate does NOT ALLOW the Executor to keep anything he was not provided for IN the will.
The division of a deceased's assets MUST be done as was stated by the deceased IN THE WILL. However, the Executor is, by law, required to pay all obligations of the Estate, and therefore is allowed to sell assets of the Estate in order to pay those debts, but he is not allowed to take what he may want for himself.
Generally, when a person dies, the family retains an attorney to assist in the Probate process, and the FIRST THING YOU SHOULD DO is to contact him/her to make your concerns known.
IF your brother were to violate the legal duties of his office as Executor, you would not "contest" your father's will, but instead as a last resort, file suit against him personally for breaking the Probate law in failing to do his statutory duties. By virtue of violation of statutory law, he may be subject to prosecution by the local District Attorney.
Consult an attorney in your jurisdiction for the specific laws that will apply.
No. They would need to disclose their relationship to the decedent. They would definitely be challenged and not seated on that jury.
Yes. That beneficiary's portion should have been deposited with the court or in an interest bearing bank account. It should be waiting for him. There are many reasons a beneficiary may not be able to be found at the time of a probate of an estate. That's no reason to squander their inheritance. He would have a cause of action against the executor if his inheritance was not accounted for.
If he listed you as the beneficiary of his 401K then it will bypass his estate, be payable to you and you do not have to share it. If you are the court appointed executor of his estate you must distribute his property according to the provisions in the will and according to state probate laws under the supervision of the probate court. His debts must be paid before any distribution of his estate can be made.
Who is executor of the state when there is no will in the state of IL?
The court will appoint someone. It may be the person opening the estate, or an attorney or bank.
What is a proof of claim filed in an estate?
A proof of claim is filed by a creditor of the decedent. That claim must be paid before any assets are distributed to the heirs. A Proof of Claim is a form that a creditor submits to the court to get paid.
Are children responsible for a deceased parent in the state of Pennsylvania?
The estate is responsible for all the debts of the deceased. The children are not required to pay them from their own funds, but it will reduce the amount they inherit.
Is a beneficiary required to accept any form of payment the trustee mandates from an trust?
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
You need to review the terms of the particular trust to determine how the beneficiaries are to be paid.
What is Joint account with survivorship?
That means two or more people share an account and when one dies the other or others automatically acquire the share of the decedent. The last one living will become the sole owner of the account. A joint account does not need to pass through probate.
How much does a mechanical engineer make a year?
The salary depends on basic qualification and length of experience and the expertise on any particular process or methodology. Normally a beginner would get US$ 1500 in USA But in Asian countries the salary would be somewhere around US$ 200 There are Mechanical Engineers getting the salary of US$ 15000 per month in large organizations, specially in Oil and Gas fields and Refineries / Petrochemical Projects. The range is varied by many factors.
How legal is a will that was signed by someone under the influence of alcohol?
Technically speaking, not legal. However, as they say, "the devil is in the details". First, one would have to prove that the person signing the will was actually under the influence of alcohol at the very moment the will was signed. If there are hospital BALs (blood alcohol levels) which can prove this, then there is a case to be made. Secondly, it must be proven that, when the person signing is/was sober, his/her intent did or did not comport with every portion of the will. Thirdly, one was determine whether or not other wills were executed which may be in disagreement with the will in question. And on it goes. But this is a starting place, at least, in answering this question.
