Is a lien on a property considered real or personal property?
A lien is considered personal property.
A lien is considered personal property.
A lien is considered personal property.
A lien is considered personal property.
How long does a sibling have to step up and claim their part of the property when there mother dies?
If the property is real property the estate must be probated and any surviving children will become the new owners. You will own your portion until you sell or convey it to someone else by a deed. However, if the other owners want to sell the property and you cannot be found then they could seek a court order to sell your portion of the property and the proceeds would be placed on deposit in your name. Costs and fees thereafter could cause your portion to decrease.
Personal property should be claimed within a reasonable period.
The executor of the will is the person responsible for following the instructions of the will. They work with the probate court to make sure everything is done legally. The court provides them with a letter of authority that will allow them to act on behalf of the estate.
How do you terminate an irrevocable trust agreement?
A well-drafted trust instrument should contain language that directs the manner by which the trust will be terminated. Those directions must be followed. If the trust document is not clear then a court must make a determination especially if the trust holds title to real estate. You should seek the advice of an experienced trust attorney.
What are the requirements of a legal do it yourself will?
The requirements of making a valid will vary by state. You need to check your state laws to mak certain your will conforms to those requirements. You should do some research in a local law library and hope you don't make any errors. Technical errors can result in a will not being valid.
Short answer - Yes.
Of course, this is dependent on the form of joint ownership, and the details of the ownership agreement.
Yes. You can execute a release of the life estate. That type of action would fall under selling or transferring an interest in real estate. The release should be recorded in the land records in order to clear the title to the real estate.
Do inheritors need to approve POA or Executor expenses?
No, but the probate court has to affirm the distribution plan.
In the state of Tennessee when a spouse dies in intestate who is the benificiary of assets?
That will depend on whether they had children or siblings. If there are no heirs under the intestacy laws, the state of Tennessee will receive the property.
Can you hold 2-3 executor accounts at different banks?
Yes. An executor may open estate accounts at as many banks as in his/her discretion is proper. In fact, there will be times when numerous banks are an absolute must, such as when the assets of an estate in any one bank exceed the FDIC protection limits. In such a case an executor is wise to remove the excess to another bank to take advantage of that bank's FDIC protection and be sure that as interest accrues, the amount on deposit does not exceed the FDIC limit. Also the estate account need not always be a checking account. Proper administration of an estate dictates that there be a checking account, but there may also be estate savings accounts or money market accounts or even CDs. A sufficient amount of cash should be kept in the estate checking account for the usual expenses, but any amounts not needed in the foreseeable future should be put into an interest bearing account. And since typically an estate is going to take at least six months to properly complete, it is sometimes proper to put some excess estate money in a timed CD, like 3 month or so depending on the situation.
You must petition the court to be appointed his guardian. You should seek the advice of an attorney who specializes in probate.
How does the beneficiary of a will prove to renters that he is the legal owner of the property?
In order for title to real property to pass to the beneficiary legally, the estate must be probated. The "beneficiary" needs to provide proof to the tenants that they are the new owner of the property. The beneficiary's source of title is the probated will filed in probate court. If the beneficiary wants to have the property conveyed to her/him by deed, that can be arranged through the attorney who handled the estate.
A letter from the attorney who handled the estate would be the appropriate way to notify the tenants of the new ownership. In fact, the tenants should have some official notification of the change in ownership so they know they are paying their rent to the right party. You should discuss this matter with the attorney who handled the estate and get some legal advice about your new role as a landlord.
Yes. If the court suspects that the attorney in fact is unlawfully avoiding taxes, draining the estate, hiding assets, etc., it can and will force the release of records.
She is not the executor until she is appointed by a court. You don't even know if there is a will. The children should get together and petition for one of the children to be appointed the Administrator of the estate as though he died intestate. If she has a will she will produce it to stop the Administration proceeding and she will have to commence a probate proceeding to probate the will. You can check your state laws of intestacy at the related question link below. Your father may have died intestate and that could be why she won't produce a will.
Any lawyer can be sued. However, you would need to have a strong case with substantial enough damages to motivate another lawyer to represent you. You may also need to hire an attorney out of your area.
If you think your lawyer did not perform his/her duty to you in a professional manner then you should start by making a complaint to your state disciplinary board. To find your state board search your state name and "lawyer disciplinary board". There may be a fund from which you can be reimbursed.
How do you protect your property from lawsuit?
There are several topics you could discuss with an attorney who can explain your options and the consequences of the various ways you can protect your property from creditors and judgments.
You should discuss:
recording a homestead exemption in the land records- protection varies from state to state
transferring your property to an irrevocable trust
increasing your liability insurance coverage
Can cd's be cashed in that belong to a dead person before the will is probated by the executor?
Most states require filing of probate as a first step in appointment of the executor, which then gives the executor the power to collect and appraise the property of the estate and liquidate the portfolio for distribution.
It depends on what you mean by "probated." Probate includes the entire process, which can last for years, until all assets are distributed. "Before the will is probated" could be taken to mean "before probate is filed", or "before everything required under probate is completed."
So, technically yes, if the latter, because an executor has the power to do that DURING the probate of an estate. However, if the probate has not yet been filed, nobody has the power, as it died with the owner. Many elderly have ownership of such things placed into joint tenancy with right of survivorship, so that another person can immediately access the funds without probate.
Does Missouri grant a spouse an elective share upon the death of their spouse?
Yes. See Missouri Uniform Probate Code section 474.160. See link provided below.
Your husband died are you the executor of the estate.?
You aren't the executor of the estate until the court appoints you. If your husband left property standing in his name alone then his estate must be probated. You should seek the advice of an attorney who specializes in probate who can review your situation and explain your options. If your husband left a will you should bring it with you when you meet with the attorney.
This would depend on whether the executor has left the property in your fathers name or if it has been transferred into your names.
In the United States
No. Generally, equitable title to real property passes automatically to the heirs. In most states, the estate must be probated in order to perfect legal title in the heirs. Since the debts of the decedent must be paid before any property has been distributed there is always the possibility the real estate must be sold to pay debts. An executor can sell real estate only if they have been granted that power in the will or if a license to sell has been issued by a court. Once the probate process is concluded (after debts and taxes have been paid) the executor has no authority over the real estate. Record title does not need to be transferred to the heirs since probate is part of the public record of real property ownership. The property now belongs to you and your siblings. However, you can arrange to have a deed drafted in your own names.
State probate laws vary. You should consult with an attorney who specializes in probate laws in your jurisdiction.
Is a title to personal property transferred pursuant to a bailment?
No, only the lawful possession of the property, and not ownership, is transferred.
Does the law in wi. automatically give a percentage of the estate to the administrator of the will?
"The personal representative has a right to reimbursement for expenses incurred in managing and settling the estate, and for time spent carrying out those duties. Payment for the latter may equal 2 percent of the inventory value of the estate assets (less any mortgages or liens). Or it may be some other amount the decedent specified, or the beneficiaries agreed upon, or the court approved. If the personal representative is derelict in carrying out duties, the court may reduce or deny compensation. The court also must approve expenses and attorney fees in formal probate proceedings."
See link provided below.
If someone dies in Alabama without a will does everything go to the surviving spouse?
Section 43-8-41 ===Share of the spouse:=== The intestate share of the surviving spouse is as follows: (1) If there is no surviving issue (children) or parent of the decedent, the entire intestate estate; (2) If there is no surviving issue but the decedent is survived by a parent or parents, the first $100,000.00 in value, plus one-half of the balance of the intestate estate; (3) If there are surviving issue all of whom are issue of the surviving spouse also, the first $50,000.00 in value, plus one-half of the balance of the intestate estate; (4) If there are surviving issue one or more of whom are not issue of the surviving spouse, one-half of the intestate estate; (5) If the estate is located in two or more states, the share shall not exceed in the aggregate the allowable amounts under this chapter. Section 43-8-42 ===Share of heirs other than surviving spouse:=== The part of the intestate estate not passing to the surviving spouse under section 43-8-41, or the entire intestate estate if there is no surviving spouse, passes as follows: (1) To the issue (children) of the decedent; if they are all of the same degree of kinship to the decedent they take equally, but if of unequal degree, then those of more remote degree take by representation; (2) If there is no surviving issue, to his parent or parents equally; (3) If there is no surviving issue or parent, to the issue of the parents or either of them by representation; (4) If there is no surviving issue, parent or issue of a parent, but the decedent is survived by one or more grandparents or issue of grandparents, half of the estate passes to the paternal grandparents if both survive, or to the surviving paternal grandparent, or to the issue of the paternal grandparents if both are deceased, the issue taking equally if they are all of the same degree of kinship to the decedent, but if of unequal degree those of more remote degree take by representation; and the other half passes to the maternal relatives in the same manner; but if there be no surviving grandparent or issue of grandparent on either the paternal or the maternal side, the entire estate passes to the relatives on the other side in the same manner as the other half.
Are life insurance benefits taxable in Massachusetts?
That is the beauty of life insurance! With a properly named beneficiary life proceeds are not taxed and they avoid probate.