Estates

a valid trust is true and an enforcebale trust can be enforced

Typically the trustee is the successor bank, but it does depend on wording in the trust as well as potentially state and/or federal banking laws.

A life estate can be terminated by a release in writing by the life estate holder. The release must be recorded in the land records to clear the title.

That depends on who you are and what your legal standing is regarding whatever the executor is handling.

For estates that do not have enough money to pay all debts, each state has statutes that prioritize the debts in categories. All debts in one category must be paid in full before any debts in the next lower category can be paid anything. In New Jersey, the priority is: Reasonable funeral expenses Costs and expenses of administration of estate Debts and taxes having preferences according to other Federal and state laws Reasonable medical expenses of the last illness Judgments entered against decedent in order of their priority All other claims If there is insufficient money to pay all of the debts in any one entire class of debts, no debt may be paid in full to the detriment of others in the same class. The money available would get distributed proportionately to all creditors in that class.

In the common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to real estate by descent over taking title by devise or by purchase. Essentially it provided that a remainder couldn't be created in the grantor's heirs. The rule provided that where a testator undertook to convey an heir the same estate in land that the heir would take under the laws of inheritance, the heir would be adjudged to have taken title to the land by inheritance rather than by the conveyance, because descent through the bloodline was held to be "worthier" than a conveyance through a legal instrument.

Without a will, the courts will determine how much of the estate goes where. Obviously, the current wife will be entitled to a substantial amount of the estate, but the courts will probably award a share to the children, but the simple reality is, there is no way to know before the judge makes his decision. Understand too that the children will be eligible for Social Security Survivors Benefits until they turn 18. N.C. is a Tenancy-By-The-Entirety state all property jointly owned by husband and wife reverts automatically to the surviving spouse as is not subject to probate procedure. If a title to real property or bank accounts are worded otherwise such as JTWRS or JT, such property belongs to the person named on the title, deed or account. Other property not covered under said stipulations will be apportioned to the surviving spouse and heirs according to probate succession laws. "Heirs" are defined as the biological children of the deceased. NCS. Chapter 41-47

No, they should not be required to provide their SSN. Estate holdings should be liquidated using the Estate's tax number. If there isn't one, then the executor is slipping up. Worst case would be to use the SSN of the deceased. Transactions have to be associated with a tax number. * The executor/executrix/administrator of the estate (whatever the title) is required to supply his or her SSN as well as that of the deceased or the TID when making a claim for the deceased estate with an insurance company and other such matters.

Whether or not a spouse gets property in a trust depends on how the trust is set up. All sorts of different trusts exist to serve different purposes. If you live in Florida and want to avoid the law that prevents you from disinheriting your adopted child, a trust is the way to go. That way you can leave all your money to your spouse and hope the kid will grow up to the point that he would not spend every cent he is left on cocaine.

Depending on your state, there may or may not be a time limit for administering the estate. Generally speaking, the executor can take as long as they need to handle the estate. However, if the beneficiaries feel that the executor is taking an excessive amount of time, they can apply to the court for resolution of the matter.

An ex-wife, unless specifically named in a will created after the divorce, is not entitled to anything.

In Alabama, pick up a set of probate instructions at your local courthouse, or they may be available on line. Then follow the instructions and file the appropriate forms with the court and they will issue a letter of authority.

There can be two trustees, depends on the wording of the trust.

The will should be filed for probate promptly. If the person in possession of the will won't file it then other family members should notify them that they will file for an Administration in one week. If the will isn't produced then a Petition for Administration should be filed and the estate will be distributed according to the laws of intestacy. If the person is holding on to the will to obstruct the wishes of the testator then someone should file a complaint against them so they will be required to appear before a judge to explain their actions.

Yes. If the decedent conveyed real property by deed before they died then the property was not included in their estate at the time of death because they no longer owned it.

They can't claim to be the executor, they have to be appointed by the court, otherwise they have no legal standing to do anything with the estate. And you have the right to object to their being appointed executor.

First, you should contact the legal department of the insurance company that holds your ex-wife's policy and arrange to send a certified copy of your divorce decree. The company may not have to honor the decree if it is not from your state. If you encounter any problems you should contact the attorney who represented you in the divorce for advice.

The will normally names an alternate executor who would take over if the first executor dies or declines the appointment. The alternate executor would petition the probate court for appointment. In the event there is no alternate named, or if that alternate does not want to or cannot be appointed, then one of the residuary legatees under the will may petition for appointment as "administrator cum testamento annexo" or "administrator with the will annexed". All of the residuary legatees have the right to be appointed, so they will all have to agree on a successor.

No will shall fail as a results of the executor not being available. The court will appoint an attorney (at attorney rates!) or a bank to be the executor if no other interested person is available.

Yes. Marriage is a legal status that brings all kinds of legal rights and obligations. Two people who are married remain married until they end their marriage by a divorce decree. Therefore, even if the spouses have not been living together for years, they would each have statutory rights in the other's estate. You need to consult with an attorney who specializes in probate in your state if your spouse has die and you are wondering about your rights of inheritance.

If you are married, have been "abandoned" and you're wondering about what would happen to your property if you died then you should consult with a divorce attorney about ending the marriage legally.

Service of process can be through registered mail or even first class mail. Phone calls are acceptable, but still require written confirmation. The court will required signed documents showing that everyone has been contacted.

Mineral rights are a complicated topic. Under that umbrella (regarding mineral rights in land) would also fall the right to royalties from companies that have leased or purchased mineral rights from a prior owner. Generally, a life tenant is entitled to the profits from the land during their tenancy. However, state laws vary and you should consult with an attorney who practices real estate law in your area and who is familiar with mineral rights. Keep in mind that properties subject to life estates are more generally residential properties and not coal mines, oil and gas wells.

You can read a brief description of probate law in Barbados at the related link below.

In Connecticut, title to real estate passes to the devisees or heirs upon the death of the owner. However, there may be circumstances where the executor is given power to sell the real estate by the testator. Also there are circumstances when the real estate may be sold by the executor, for example, if there are debts to pay. Speaking generally since you did not provide much detail, if it was NOT sold to pay debts of the estate you had the right to keep it and pay for it yourself if it was mortgaged. Especially if you are the sole heir.

WE JUST WENT THROUGH THIS. YOU NEED TO CALL THE IRS AND LET THEM KNOW THAT YOU ARE TRUSTEE OR SUCCESSOR OF THE DECESSED. BUT YOU MUST HAVE CERTIFIED COPIES OF THE DEATH CERTIFICATE. THEY WILL ISSUE YOU A TEMPORARY EIN SO YOU CAN TAKE OVER THE ESTATE AS IF YOU WERE THE DECESSED.TO PAY OFF THE ESTATES BILLS. CLOSE OUT ACCOUNTS AND HAVE THEM TRANSFERED INTO YOUR NAME. WE SUGGEST THAT YOU OBTAIN AT LEAST 15 CERTIFIED COPIES OF THE DEATH CERTIFICATE. NOT EVERY CREDITOR WILL TAKE A PHOTOCOPY.WE FOUND IT EASIEST TO GO TO THE BANK OF THE DECESSED AND HAVE THERE STAFF HELP IN OBTAINING THE EIN IT TOOK ABOUT 10 MINUTES. PRETTY FAST FOR THE IRS.