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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
Are paid caregivers able to receive bequest from the persons estate in California?
If they are named in the deceased's will and the will is legal and valid, yes.
What is an estate bank account?
It is a bank account set up for estate business. It requires an EIN from the Federal government for tax purposes.
Who is executor of an estate when no will is left?
Usually, if there are assets that belonged to the deceased that need to be probated, any heir at law or other person in interest, including a creditor, may apply to be appointed an administrator of the estate. An "executor" usually requires being nominated as such in a will.
Can live in friend lay claim to estate after spouse's death?
A live-in friend has no legal right to their friend's estate. If the decedent died intestate, or without a will, the property will pass to their heirs at law (generally blood relatives) according to the state laws of intestacy. You can check the laws in your state at the related question link provided below.
Unmarried couples who share a home should always have a will if they want their property to pass to their partner.
Yes, they can use their interest in the property as collateral. But remember that is a limited interest and must be disclosed to the lender.
If they sign away the rights, the remainderman gets the property free of the life estate. Walking away without signing it over, depending on the document that created the life estate, may be all it takes, but consult a property attorney in your area.
Yes.
Yes.
Yes.
Yes.
Who needs to receive a copy of a person's will upon their death?
The executor needs to file a copy with the court. Other than that, no one has to be given a copy of the will. It usually becomes a part of the public record once execution is done, but may remain private.
What is the swift code of metro bank Davao city branch?
The Metrobank in Davao (Philippines) has NO swift number
WRONG !!
Metrobank's formal name is Metropolitan Bank and Trust Co. It's nationwide Swift or BIC number is : MBTCPHMM.
If the distribution to the beneficiary was mandatory, and the trust agreement does not provide for alternative disposition on the beneficiary's death, and/or the trust agreement provides that the distribution is mandatory and not discretionary, then the distribution should be payable to the deceased beneficiary's estate, which could get the K-1 as to any portion of the distribution that constitutes income rather than principal. The distribution to the deceased beneficiary's estate could flow through to the heirs of the deceased beneficiary's estate.
Yes. You could draft your own codicil if you know exactly what you're doing. A codicil follows the same statutory form as a will and must clearly explain the changes. However, a poorly drafted codicil could cast the entire will into uncertainty. If you're not confident about your ability to do it correctly then you should seek the help of an attorney.
Can a family break a family trust after the death of the person who created it?
They must review the document that created the trust to determine if and how the trust can be terminated. Most trusts contain a clause that addresses termination. If there is no such clause the family would need to bring the matter to court and let a judge determine the outcome.
The executors role is to insure that the property is sold for a fair market value and the proceeds properly distributed according to the will. Having a beneficiary buy the property is a common occurance, particularly if they property is to stay in the family. He has no brother or sister, but lots of half-brothers and -sisters, namely all the kids of Zeus.
What court handles copies of wills?
Generally, the probate court which is sometimes listed as a division of a higher division of state court. To find the probate records for your jurisdiction you can perform an internet search using your county, state and "probate" as your search criteria.
What must a mortgage holder do when the person with the mortgaged house dies without a will?
File a claim against the decedent's estate. If the mortgage was recorded in the land records it must be paid before the property can be sold.
If the life estate was in writing and recorded in the land records the mother should contact an attorney immediately. She cannot be "forced" to vacate the premises unless there is a court order to that effect.
If the life estate was not memorialized in writing she will have a problem proving her claim.
If the life estate was in writing and recorded in the land records the mother should contact an attorney immediately. She cannot be "forced" to vacate the premises unless there is a court order to that effect.
If the life estate was not memorialized in writing she will have a problem proving her claim.
If the life estate was in writing and recorded in the land records the mother should contact an attorney immediately. She cannot be "forced" to vacate the premises unless there is a court order to that effect.
If the life estate was not memorialized in writing she will have a problem proving her claim.
If the life estate was in writing and recorded in the land records the mother should contact an attorney immediately. She cannot be "forced" to vacate the premises unless there is a court order to that effect.
If the life estate was not memorialized in writing she will have a problem proving her claim.
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
What is the process for opening a will after the person has died?
The will is filed with the court. Along with it will be other forms that ask for an executor to be appointed and that the beneficiaries have been notified. Consult with a probate attorney in your state for more assistance. Most courthouses can provide a probate packet that has the forms and directions.
What happens if the executor of an estate refuses their position and makes the next of kin executor?
Happens all the time. No big deal. The executor, whomever it is, fulfills the duties are required by law. And if no one 'wants' to be the executor, the court will appoint someone to do it, usually an attorney or a bank.
Only that property that is determined to be owned by the sibling. If property is owned jointly between the sibling and the remaining family, the remaining family may be forced to get a loan to pay the appraised value of the siblings share.
As this Q is frequently referred to by those asking about a trustee that is a sibling.....a trustee is NOT the owner of any of the proerty he is trustee for...in fact, IT CANNOT be used for his personal needs.
For an insurance policy and/or retirement benefits it goes to the beneficiary designated.
For a will, there could be grounds to contest it.
If there is a co-power of attorney do they have the same amount of power to make decisions?
That depends on how the initial Power of Attorney is drafted. It can be set up so they may act independently or so that they must each sign every document or check together. It should be discussed and analyzed ahead of time to avoid confusion.
What are life tenant responsibilities once he gives up tenancy and continues to live in property?
Once a life tenant releases their life estate they have no rights in the property and no responsibilities regarding the property. It is up to the fee owner to determine the terms for the continued use of the property. The owner may serve notice for the former life tenant to vacate the premises or the owner can require the tenant to sign a lease and pay rent. It is up to the owner.
