Estates

You can obtain a certified copy from the court where the probate was filed.

An executor (not executive) is the person who has the authority to administer the decedent's estate. He/She is appointed by a court with probate jurisdiction. He/She is usually appointed in the decedent's Will.

Strictly speaking , no, you can't. By law, the POA that gave you authority to handle your mother's accounts became ineffective immediately upon her death. Using the POA after the death of the person who issued it is illegal.

The following information is general information only. The laws in your state may vary. Generally, there needs to be special authority in the will in order for the executor to have the power to transfer real estate. IF the will was allowed and you were appointed the executor and IF you were given power to sell real estate in the will and IF the property was devised to you in the will then you can execute a deed from you as executor to yourself as an individual. If you are the duly appointed executor and were not given power to sell real estate in the will and the property was not devised to you personally in the will then you need to apply for a license to sell real estate from the probate court in order to transfer it to yourself. If you were not given the power to sell property in the will and the property was devised to you then you don't need to execute a deed. The title is in your name as long as the estate was probated. Probate records are public records and title to real property can be transferred in probate. The probate process transfers title to real estate to the heirs. You should seek the advice of the attorney who is handling the estate.

If they never divorced, she was his only wife and any other marriage would have been illegal. It may be well past the statute of limitations to file a claim at this point.

You need to review the provisions of the trust to determine how the funds can be used. Generally, a trust set up for a child allows expenditures related to educational needs.

Generally, either the mortgage must be paid or the bank will take possession of the property, sell it, and after deducting the balance due on the loan and all the associated costs and expenses will pay over any balance remaining from the sale to the estate. However, you should review any documents associated with the reverse mortgage for the terms of that transaction.

They can only sell at a court approved price that reflects the real value of the property. There may be a conflict of interest. I'd consult another attorney.

A short sale of real estate means that the property is sold for less than the balance due on the mortgage. In a short sale the owner has negotiated with the bank and the bank has agreed to discount the amount due on the mortgage by accepting the proceeds from the sale as full payment of the mortgage. In certain circumstances, the owner may receive a 1099 on the amount of the loan that was forgiven. That amount may be counted as income by the IRS if the property was not the primary residence.

The executor or administrator, but only to the extent of assets in the estate.

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Your question does not contain enough detail. You can add more details on the discussion page. If a person conveyed their real property by deed while living then the property cannot become part of their estate after their death. If they granted a life estate, that person owns the life estate for the duration of their natural life.

No. The co-executor must file a resignation with the probate court in order to free themselves of any obligations and responsibilities in the estate and to notify the world they will no longer be serving as co-executor.

The house MUST go through the probate process in order for title to pass to you. The will must be presented to the probate court for allowance and the court must appoint an executor. When the probate process has been completed you will be the owner of the property.

To begin with, the term "After probate" has no meaning for a question like this. "Probate" means the probate of the will to begin the administration of the estate. Debts presented after admission of the will to probate are payable. The real question is whether heirs are responsible for bills received after conclusion of administration of the estate and distribution made to the heirs or beneficiaries. It is possible, depending on the probate laws of the state where probate is. In New Jersey for example, heirs or beneficiaries have to sign a document acknowledging the amount of money they received and promising that if legitimate debts come to light later on, they will return a proportionate share of their inheritance. This is to recognize that legitimate debts of the decedent that would have been paid prior to distribution to the heirs and the heirs would have received a proportionately smaller share of the estate. So although they may have to return some money, they are not really losing any. No heirs are responsible to return more than their proportionate share or to pay more than they received.

You can contact the clerk-recorder office in the county where the property is located for the information needed. The clerk-recorder handles all matters pertaining to real property titles and vital records. Typically you simply file a copy of the death certificate with the deed, but your county clerk will provide the details.

The estate has to pay off all debts before it can distribute anything to any of the heirs. The estate will have to liquidate all assets to pay off the debts. If it isn't possible to pay all the debts, they will have to show a plan to the court showing how they are fairly dividing up the available assets between the creditors.

The power of attorney ends with the death of the grantor. Someone will open an estate in order to settle the debts.

When an estate is probated, someone is appointed executor or administrator. That person has the responsibility of either transferring stock ownership or selling the stock and distributing the proceeds.

A+ users....FALSE!

The answer depends on the laws of the state of probate, because not all states have the same such laws. In general though, the executor can make such a loan, but with some limits. An executor has complete control and possession over all the assets of the estate and has the duty to invest those assets so that they earn the estate income during administration. In that sense, it is possible that an executor could make a loan to a beneficiary at an interest rate higher than what could be gotten if the funds were kept in an estate account. The loan would have to be made with a competitive rate of interest, because those monies would be in the estate account earning interest but are instead in the pocket of the beneficiary. The executor must make absolutely sure that the loan is protected from loss or he will have to pay for any losses.

All states have laws which are referred to as prudent investment acts or some similar wording. They describe the types of investments that executors may make. Some states might specifically prohibit such loans. Others might allow them, but may require more security than just the anticipated inheritance. Those laws must be reviewed first.

There are many dangers in making such loans so they are usually not done. Sometimes beneficiaries lose their rights to inherit or have their rights attached by creditors. If that happens, the executor cannot claim that he has given the beneficiary the inheritance ahead of time. The executor could find himself in the position of having a worthless loan with no security.

No. Joint property with the right of survivorship is a non-probate asset. It may help to think of jointly owned property this way: You both owned the whole property. When the other person died their interest in the property simply vanished. You already owned the property and so you "inherited" nothing.

When a person dies owning property and there are no known heirs the property 'escheats' to the state.

If one of several heirs can't be found their portion can be placed in an interest bearing account supervised by the court. If there is real property involved the executor must obtain a license to sell the real estate and the missing heirs portion can be placed in an account as stated above.