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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
A trust is managed according to the provisions set forth in the document that created the trust. A properly drafted trust should contain a provision that addresses the removal of a trustee and the appointment of a new trustee. A properly drafted trust will name a successor trustee in the event the trustee dies or resigns or must be removed. If there is no such provision in the trust document then a judge must make the change by a court order.
Most state laws require that some good cause be shown why a trustee should be removed. Such cause is shown if the trustee fails to operate the trust properly, fails to protect and invest the proceeds of the trust, engages in self-dealing with trust property, fails to obey court orders regarding operation of the trust and other actions which show the trustee is violating the fiduciary duty that all trustees owe to the beneficiaries. You should consult with an attorney who is familiar with trust law in your state who can review your situation and explain your options. Trustees have a duty to do what is best for the beneficiaries but always within the terms of the trust itself. Trustees do not take orders from beneficiaries.
The remaining spouse or executor of the deceased's will.
Can the executor disperse money to those persons in the Will without a lawyer?
The executor has no authority to access any accounts until they have been appointed by the court.
Once the executor has been appointed by the court they must settle the estate according to the provisions in the will and the state probate laws under the jurisdiction of the probate court. If the executor doesn't follow state laws they will be personally liable for any errors. One of the most important rules to follow is that the debts of the decedent must be paid before assets can be distributed to the heirs. An estate should be supervised by an attorney unless the executor is familiar with probate law.
Yes. If a will is filed for probate it will be in the probate records. There is no other depository for wills in the US. If the will was not filed in probate then it is not available unless a family member or some other person in possession of an unprobated will agrees to share it with you.
Can a trustee bind another trustee and the trust?
Trusts are managed according to the provisions set forth in the instrument that created the trust. You must review the terms of the particular trust to determine if one trustee can exercise all the trustee powers set forth in the trust instrument.
Can the executor sell property without all beneficiaries approval?
The answer depends on the laws of the state the probate is in, the terms of the will and the facts of the situation. First, what does the will say? It may say the executor has full power to sell in his/her discretion. In that case, the beneficiaries do not have to approve. If the will says nothing specific about a power of sale then look to the laws of the state. Every state has laws that spell out what executors can and cannot do. The laws of the state of probate might provide that an executor has to obtain a court order to sell the property. If it does, any of the beneficiaries might object to the sale when the executor applies for the order; however, the objector will have to prove the objections are valid.
Brothers property from a girlfriend after he died?
If a girlfriend has a brothers property after he has died a family can request that she gives it back. Depending on the length of the relationship, the family should offer some of the brothers items to the girlfriend out of respect.
Do domestic partners inherit all of estate if no will is left Missouri?
No. As of 2014, Domestic Partners are not recognized under Missouri law, and are considered legal strangers to each other. Without a will, it's likely the property would go to next of kin.
Can you quit claim property to a friend and does that property become theirs?
Yes. That is the purpose of a quitclaim deed, to transfer the ownership of real estate.
None of the exceptions you present would disqualify a person under 18 years of age from receiving Social Security Benefits attributed to the fathers Soc Sec Account. Whoever the court appoints or considers to be the legal guardian will receive the monies to be used for the benefit and welfare of the minor. However the Soc Sec Admn has specific rules which could eliminate any receipt of monies. Refer to the benefits section of the Soc Sec Admn web sit ssa.gov.
How to sell a house after a parent dies?
You have to open an estate. The court will then appoint an executor. The executor will have the letter of authority that will, with the court's permission, sell the real property of the estate.
If mother and daughter have a joint account together and mother dies the daughter can continue to use the account or close it and reopen it in her own name. The daughter should be careful to account for any interest on her tax return. If mother also had a separate account at the same bank, the daughter has no right to use that separate account. That account should pass by will or by intestacy if there was no will.
How do you transfer a deed when a parent dies without a will in Washington?
In order for title to pass to the heirs the estate must be probated. You should speak with an attorney who specializes in probate law in your area.
He will be required to pay tax on a fair market value if it is a gift. Another option might be to "sell" it to him for a significant amount below market value and carry back a note. The note might not have any payment schedule, or you could even state that you have received regular payments. There are always options, so it would be best to talk to either a tax attorney or a good tax accountant who regularly deals with living trusts and other such mechanisms.
Yes because the were born from the same dad. Yes because the were born from the same dad. Yes because the were born from the same dad. Yes because the were born from the same dad.
How can you sell a paid off home inherited by you through a revocable trust?
If the property is owned by the trust, the trustee must execute a deed from the trust to you. In order to execute a validdeed the trustee must be given the power to sell real estate in the document that created the trust. Once the deed to you has been executed and recorded in the land records you will be the record owner and you can sell the property by executing a deed in favor of the purchaser.
A deed from a trust should be executed in the trustee's name as the trustee of the trust. The grantor on the deed should be recited as, "Buddy Guy, as the Trustee of the Best Blues Trust" grants to BB King . . . ."
Can a personal representative refuse an heir access to property?
The court appointed estate representative has authority over the estate. It is their duty to collect and protect the assets, pay the debts and distribute the remaining assets according to the state laws. In order to perform their duties according to the law they may need to deny one or several of the heirs access to the property especially if they may remove property for which the estate representative is responsible. The situation should be discussed among the rep and the heirs. Perhaps they could work together.
What is the best way to deed over mineral rights prior to death?
It's best to search the deed records to determine the legal description of the mineral interest. You do that by going to the county of the mineral interest and search the index by the owner's name. Use that legal description to insert into a mineral deed, have it signed before a notary public, and record it in the deed records of the relevant county.
in addition:
"By conveying the mineral rights over by means of a mineral deed or quit claim deed and then file it with the county clerk or recorder in which the tract or tracts lay. A mineral deed or quit claim deed can be purchased for very little cost online or at a office supply store"
Could a Living estate over ride a quick deed?
If the owner of property conveys that property by a quitclaim deed while they still own it then they no longer own the property. It is now the property of the grantee in the deed.
That depends on more details. If the estate is closed the property is owned by the beneficiaries or next of kin depending on the type of probate proceeding. If the estate is not closed yet then the estate fiduciary would still have some or all of the control over the property. You can provide more details on the discussion page.
What makes a holographic codicil valid in Louisiana?
Holographic testament.
A. A holographic testament is one entirely written, dated, and signed in the handwriting of the testator. Although the date may appear anywhere in the testament, the testator must sign the testament at the end of the testament. If anything is written by the testator after their signature, the testament shall not be invalid and such writing may be considered by the court, in its discretion, as part of the testament. The holographic testament is subject to no other requirement as to form. The date is sufficiently indicated if the day, month, and year are reasonably ascertainable from information in the testament, as clarified by extrinsic evidence, if necessary.
B. Additions and deletions on the testament may be given effect only if made by the hand of the testator. See link below:
Their shouldn't be a conflict of interest as long as the executor maintains detailed records and settles the estate according to the terms of the will and the state probate laws. As long as the executor doesn't do anything that's questionable (regarding the principal under the POA) there shouldn't be a problem. On the other hand and if possible, in the matters of the estate the principal could sign any court documents for themselves rather than having them signed by the attorney-in-fact under the POA. That would remove the possibility of doubt.
