Estates

Yes, it does, but the nature of the business entity will determine how the business is run after death. If a business is a sole proprietorship, the executor has the sole authority to run the business during administration of the estate. Generally, the executor tries to wind the business down, sell it or transfer it to the beneficiaries. The executor would be wise to consult the beneficiaries as to their intentions. If the business is a partnership, generally, the death of the partner automatically dissolves the partnership and the executor has no authority to operate the business. In this case, you have to look to the contract that created the partnership to see how the business is to be disposed upon the death of one partner. The partnership agreement might provide that the business simply goes to the surviving partner, in which case the business is not part of the estate. The agreement might dissolve the partnership, leaving the other partner in full charge of operation, but giving the estate a financial interest in some percentage of the value of the as of the date of death. Sometimes there is a fixed payout amount. Sometimes the business has to be appraised to determine its value. If the business is a corporation in which the decedent's ownership interest is determined by ownership of shares of stock, the business does not become part of the estate in the sense that the executor has automatic power to run it, but the stock certificates are part of the estate. You have to look to the incorporating papers or by-laws of the corporation to see if they provide for the appointment of other persons as corporate officers to operate the business on the death of this owner and follow those procedures. The executor might or might not be the one to replace the decedent in order to keep the business going. There are other types of business organizations, such as Subchapter S corporations, Limited Liability Companies, Limited Partnerships and others depending on individual state laws. The laws governing all business organizations and the documents organizing those businesses will determine the actual treatment of each business.

There are benefits and detriments to everything, and appointing a bank as an executor is no different. Appointing a bank is only beneficial if it is a substantially large estate. In fact, most banks will refuse to become the executor, even if named in the will as the executor, if the estate does not consist of certain minimum amounts it fixes. Benefits flow mainly from the financial expertise they have in handling large sums of money and investing them while the estate is being administered so as to obtain the best rate of return. Another benefit is that it takes administration of the estate out of the hands of a single family member where jealousies or other family issues might cause losses, delays and other problems.

You have plenty of rights and your siblings just broke the law! When a person leaves a Will it's for a reason and the instructions in that Will should be followed to the letter whether all or one of you disagrees with the outcome. A Will must go into Probate. Probate makes sure all personal and property taxes are paid off, mortages, loans paid off and any credit card debts, etc. What is left in the Will (called "The Estate) is what is divided amongst the heirs that the deceased has put in their Wills. ALL HEIRS have a right to receive a copy of that Will. All Heirs (siblings) have the right to enter the premises of that home and divide equally any personal items of the mothers. I suggest you go to a lawyer and tell him/her you did not receive a copy of the Will (you may not be in it) and if you are, they will take steps to make the Executrix (female) Executor (male) pay up! Also, you can contest the Will through the courts. You're siblings are in big trouble if you are in that Will. Please don't sit back and take this, but find out if you were mentioned in this Will. If you aren't, and you were a caregiver to your mother, then you can still contest the Will. You better believe your siblings will want to settle out of court because the court system can hold up the process of releasing property and money for several years and usually people that do these things to their siblings are greedy, so they want their money. Go for it! Good luck Marcy

As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.

As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.

As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.

As long as the executor has been duly appointed by the probate court they can charge the expenses associated with the handling of the estate to the estate and get reimbursed from any estate assets.

Generally, an agreement to make a will must be in writing. You would need written evidence signed by the decedent to prevail in such a claim. You should consult with an attorney in your area to determine what, if any, other evidence may be helpful.

Generally, the executor must petition for a license from the court to mortgage the property unless that power was granted in the will.

You can't be the executor of an estate if the individual is still living. Property transfers are done the same as any other time.

Legal guardianships are generally a public record. You can check your local family and probate court records for guardianships. You can check the person name who you think is under guardianship in the index. Any guardianship should be listed and you should be able to review the file.

Legal guardianships are generally a public record. You can check your local family and probate court records for guardianships. You can check the person name who you think is under guardianship in the index. Any guardianship should be listed and you should be able to review the file.

Legal guardianships are generally a public record. You can check your local family and probate court records for guardianships. You can check the person name who you think is under guardianship in the index. Any guardianship should be listed and you should be able to review the file.

Legal guardianships are generally a public record. You can check your local family and probate court records for guardianships. You can check the person name who you think is under guardianship in the index. Any guardianship should be listed and you should be able to review the file.

The person making the claim or contesting the willor objecting to the appointment has the burden of proving their claim by whatever evidence they can provide. If the evidence is insufficient they will lose.

usually the next of kin would be a child, if no children than a sibling would be considered.

The answer to your question is very long. There are many different provisions addressed in Oklahoma intestacy laws. Click on the link below for access to your state laws at the "State Intestacy Laws" website.

If the mother has absolute and unquestioned trust in the child's integrity and honor, then the mother could consider including the child as a signatory on the CD for convenience. if the mother's goal is to cause the CD to transfer to the child at mom's death, it could be put in a joint tenancy with right of survivorship. If mom has any reason not to trust her child, then absolutely not.

If the mother granted it, yes. A Power of Attorney is a temporary device and can be set to expire. It expires automatically on the death of the person.

Your question is too broad. You can search the Pennsylvania Probate Code at the link below for what you want to know or you could seek the advice of an attorney in that area who specializes in probate.

No. Only the fee owners can mortgage the property and they can only do so with the written consent of the life tenant.

Yes.

It is considered perjury and you will be in contempt of court. There are fines and other penalties for contempt of court.

Generally, an executor doesn't need to be the "legal spouse".

A trustee doesn't have anything to buy or sell. If the property was left to the two, he can buy out the other party if they agree to it.

If there is no will then there will be no executor. When a person dies intestate, or without a will, a qualified person must petition the probate court to be appointed the administrator of the estate. That should be done as soon as possible. You should seek the advice of an attorney who specializes in probate in your area.

You are out of luck if the estate was probated 10 years ago.

In the US, alimony terminates upon death. If there is back alimony due that's a different matter.

That means the owner has transferred the ownership of the property to someone else but reserved the right to use and possess it for the duration of their natural life.