0
Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
How do you contest the appraisal amount submitted by a probate referee?
My client is going through the same thing right now. A referee did a "Drive-by" appraisal for a million dollars on a Venice Triplex. I know the Venice market really well and I valued it at $700k. We ended up asking the attorney to contact the referee with some sales comps and data that supported a 700k valuation. They agreed to go by and thoroughly check the place out again and we are waiting for the re-evaluation. Hope this helps. Derrick Ruiz Keller Williams Realty Santa Monica 310-308-3174 derrick@derrickruiz.com
The estate is not settled until the final distribution is made. The heirs shouldn't sign off on the estate until they have received distribution of their shares. If the administrator tries to file a final account prior to distribution, thereby closing the estate, the heirs should object and notify the court that they haven't received there shares in the estate. Nothing should be left "up in the air" once an estate has been "settled". If there are issues remaining now that the estate had been closed you will need to consult with an attorney who can review your situation and explain your options.
Who is the owner of an estate?
An estate can be two things: all the property a living person owns and all the property a person owns at the time of their death. Once a decedent's estate has been probated the heirs-at-law or beneficiaries under the will become the owners of that property.
Can father leave son out of will not close?
A Last Will and Testament ("Will") can say anything the author wishes, as long as it's legal. Anyone can be included or excluded.
What happens if one beneficiary won't accept final account of estate?
They cannot hold things up. If they have a legitimate concern it must be expressed to the court. If they refuse to sign there is generally a procedure by which notice of the final account can be published. It just takes a little longer. You should consult with the attorney who is handling the estate or a clerk at the court.
They cannot hold things up. If they have a legitimate concern it must be expressed to the court. If they refuse to sign there is generally a procedure by which notice of the final account can be published. It just takes a little longer. You should consult with the attorney who is handling the estate or a clerk at the court.
They cannot hold things up. If they have a legitimate concern it must be expressed to the court. If they refuse to sign there is generally a procedure by which notice of the final account can be published. It just takes a little longer. You should consult with the attorney who is handling the estate or a clerk at the court.
They cannot hold things up. If they have a legitimate concern it must be expressed to the court. If they refuse to sign there is generally a procedure by which notice of the final account can be published. It just takes a little longer. You should consult with the attorney who is handling the estate or a clerk at the court.
Can an administrator for an estate be fired?
No. The parties of interest can file a motion with the court to have the administrator removed and a successor appointed. They should be prepared with evidence that the administrator has not performed their duties or caused some other type of problem.
No. The parties of interest can file a motion with the court to have the administrator removed and a successor appointed. They should be prepared with evidence that the administrator has not performed their duties or caused some other type of problem.
No. The parties of interest can file a motion with the court to have the administrator removed and a successor appointed. They should be prepared with evidence that the administrator has not performed their duties or caused some other type of problem.
No. The parties of interest can file a motion with the court to have the administrator removed and a successor appointed. They should be prepared with evidence that the administrator has not performed their duties or caused some other type of problem.
Sure, but the other person doesn't have to keep it and can sell their share either to the executor or to a third party.
Yes. If she reserved any rights in it such as a "life estate" she would need to sign the deed also.
The answer to this may vary by state. The best recourse would be to meet with an attorney. The fee you pay for their time would be small compared to the cost of getting this wrong. With that said, creditors may sue the estate of the deceased person in an effort to obtain payment. They would have to win the lawsuit and obtain a judgment against the decedent and place a lien against the property. Once a lien is placed they could eventually take action against the property. I have 6 years experience as a mortgage underwriter and have yet to see a lien placed on residential property by an unsecured consumer creditor.
Where would i find out about a will left by joan Higgins of thornbury Bristol England?
I may be able to find out but please confirm who you are and the reason why. Joan is a realative of the family.
What is the term for the person to whom real property is transferred?
When the transfer is by deed or grant the recipient is called the grantee.
An interest in property can also be transferred by will, by intestate succession, by a court order, by a tax taking and by an eminent domain taking.
Perhaps. You need to review the Will to determine if authority over the burial was given to the executor of the estate. The executor must be appointed by the court in order to exercise any authority granted in the Will.
If there was no will or if burial was not mentioned in the Will then you should consult with an attorney who specializes in probate in your jurisdiction.
Your parents own the property. What they do with it is up to them. Your power of attorney doesn't stop them from doing what they wish, or what they are convinced to do by someone else.
That is a matter that must be negotiated between the fee owner and the life estate owner. Since the owner of the life estate has the right to occupy the property for the duration of their natural life free of any charges for rent, a fair value must be negotiated with that person. There is no set rule regarding this issue.
What is the remedy when an executor withholds property?
A court appointed executor must settle the estate with as much expediency as possible. When the executor acts in an unreasonable manner a complaint an be filed with the court. The court will hear the evidence and if it decides the executor is not performing their duties appropriately it can issue a court order to compel the executor to act. If the neglect continues the beneficiaries can request the executor be removed and a successor appointed.
You should speak with the attorney who is handling the estate.
Can the executor distribute money to two beneficiaries instead of three as the will states?
Not without breaching their duty to the estate. There are ways they can do that, one of them is if the third person declines to receive their share.
The only way you can "take possession" of property is by being the legal owner.
If your parents are deceased then the estate of the last living parent must be probated in order for legal title to pass to the heirs. Title will pass according to the Will if the parent died testate. It will pass according to the laws of intestacy in your jurisdiction if there was no Will. If there was no Will, you may need to buy your siblings interest in the property if you want to become the sole owner. When a parent dies without a Will (intestate) their property passes according to law to all legal heirs regardless of where they live.
You need to consult with an attorney who specializes in probate law in your jurisdiction who can review your situation, review the title to your parents' property and explain your rights and options.
You can check the laws of intestacy in your jurisdiction at the related question link.
It is unclear what you mean by joint equitable owners.
well by the willful law of 1655 the survivor would own the house based on the fact that he would be very sad that the person has died ___ The situation depends on how the property is jointly owned and on the country or state. For example, in England there are two different kinds of 'joint ownership'.
In this specific case, yes, but it can vary. If it can be proven that the daughter had lived only seconds longer than the mother the estate would go to daughter's and thence to her heirs. In this case, two weeks, it would become part of the daughter's estate. However this can have a devastating effect on the estate, subjecting it to inheritance taxes twice, or Generation Skipping Tax. The Uniform Simultaneous Death Act provides that if two individuals have died within 120 hours, each is considered to have pre-deceased the other. About half the states have enacted this either explicitly or by adopting the Uniform Probate Code. http://en.wikipedia.org/wiki/Simultaneous_death A will can specify a longer time for simultaneous death to be considered.
Yes.
Can a declaration of trust be revoked at any time?
A revocable trust can be revoked by its maker at any time. An irrevocable trust cannot be revoked.
Can the person of the life estate sublet the property without the property owner's knowledge?
This depends on how liberally you want to interpret the life estate clause which states the life estate holder retains the right to use and enjoy the property for as long as they live.
The most conservative interpretation is that the person must live on the property.
The most liberal interpretation says that the property is theirs to do with as they please. They cannot encumber the property without the title holders permission though. No mortgages or long term leases.
You should consult with an attorney in your area who is familiar with the laws in your state.
What is the difference between a valid trust and enforceable contract?
a valid trust is true and an enforcebale trust can be enforced
