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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
Do the beneficiaries of an estate have to sign an documents?
It depends on the laws in that state. In some cases for an unsupervised estate, all beneficiaries have to sign that they agree. Other than that, there is seldom anything they need to sign.
What documents do beneficiaries automatically receive?
They do not automatically receive anything. In some cases, the executor will not have to provide information to the family. They can obtain copies of anything filed with the court.
Can an executor collect money owed to estate after estate is closed?
They have a duty to do so. The estate can be reopened to finish off any new business that arises. This is a big issue in some cases.
First, the executor must be appointed by the court in order to have any legal authority over the estate. They should submit a petition for probate and appointment as soon as possible. Once appointed the executor can call the police if someone is stealing property from the estate.
Should 401k be put in a irrevocable trust?
No. That would result in penalties. A 401K is an individual's retirement account. Once ownership is transferred to a trust it no longer belongs to the individual.
Can you set up an irrevocable trust to Wife with assets to be transferred upon death of Husband?
Yes. Trusts should always be drafted by an attorney who specializes in trust law in your jurisdiction so that the trust will meet your personal needs and your questions can be answered by someone who is familiar with your trust.
Does the Remainder man inherit the estate if the life tenant dies before the testator?
No. The remainderman doesn't inherit the property until the testator dies. A testator can change their Will any time before their death.
Can you be adopted by your deceased grandmother?
Of course not. A person who has died cannot participate in a legal proceeding to adopt you.
A property\'s basis is increased by the cost of the modifications made. When a a property is jointly owned with rights of survivor ship by two persons but one dies and made modifications to the property that you are not aware of.
AnswerWhen a joint tenant with right of survivorship dies, the property is automatically owned solely by the survivor. When two people own property, both must agree to repairs in order for both to be responsible for paying the cost of repairs. If only one signs the contract for repairs then only that one is responsible for paying the bill. If the other joint owner contracted for services without your consent, and you were unaware that the property was being improved, then you are not responsible for paying the bill and the debt died with the decedent.
Can a trustee put their name on bank accounts belonging to the trust?
Yes. The name of the trust and the name of the trustee (as trustee) should appear on the account since the trustee is the human who must conduct the business of the trust according to its terms. The account should not be opened in the trustee's name as an individual.
Does the executor's fee come off the top of the estate?
The decedent's debts, the costs of administration and the executor's fee must be paid by the estate prior to the distribution of any assets.
Is real estate and estate the same?
No. Real estate refers to land and anything permanently attached to it.
Estate refers to all the property a person owns or all the property, both real and personal, owned by a decedent at the time of death.
A person's estate includes any real estate they may own.
Must all beneficiaries agree to new executor before he can be appointed?
No, beneficiaries do not have to agree on the appointment of an executor. The court makes the appointment. If the family doesn't want someone appointed, the court will likely assign the duties to an attorney or bank.
Can the executor sell the property without all beneficiaries approval in South Africa?
The beneficiaries don't get to make the determination. As long as the court is satisfied, the executor can do so.
When is a beneficiary entitled to receive the rent from the property he has inherited?
A beneficiary is entitled to receive rent from an inherited property when the estate has been settled, and the executor or administrator has transferred the property's ownership to them. This typically occurs after the probate process is complete, ensuring that any debts or obligations associated with the estate have been addressed. Additionally, the beneficiary may need to notify tenants and manage the lease agreements for the property to begin collecting rent. It’s important for the beneficiary to review any stipulations in the will or trust that may affect their rights to rental income.
What if someone is lying about being the executor of an estate?
You should start by filing a police report since the reason can only be to commit fraud or steal assets. The police should investigate the matter and tell you how to proceed.
You should start by filing a police report since the reason can only be to commit fraud or steal assets. The police should investigate the matter and tell you how to proceed.
You should start by filing a police report since the reason can only be to commit fraud or steal assets. The police should investigate the matter and tell you how to proceed.
You should start by filing a police report since the reason can only be to commit fraud or steal assets. The police should investigate the matter and tell you how to proceed.
Do beneficiaries have to sign a waiver?
Whether beneficiaries need to sign a waiver depends on the specific context and the type of benefits involved. In some cases, beneficiaries may be required to sign a waiver to acknowledge understanding of the terms and conditions or to relinquish certain rights. It's important to consult the relevant legal or organizational guidelines to determine if a waiver is necessary. Always seek professional advice for specific situations.
Can you sell a revocable living trust?
If I am the beneficiary of a revocable living trust which is specific and only has one house in it can I assign my beneficiary rights to some one else? Also can I draw a note between myself and the person whom I am assigning the note to for the sales price and record a trust deed against the note. I live in Utah. I other words I am selling or assigning the trust which owns the house. The trustee will remain the same, only the beneficiary will change.
How does a beneficiary in a irrevocable trust remove a trustee from property?
They must review the trust document to determine how trustees can be removed and replaced.
They must review the trust document to determine how trustees can be removed and replaced.
They must review the trust document to determine how trustees can be removed and replaced.
They must review the trust document to determine how trustees can be removed and replaced.
You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.
You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.
You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.
You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.
Who is your fathers next of kin you or your stepmother?
His wife is his next of kin for legal purposes.
When you die who gets your house?
The person who it's left to in your will, not sure what happens if you don't have a will though
Can the executor sell property without all beneficiaries approving in Virginia?
The executor of an estate always has the ability to sell property if allowed by the will. As long as the court agrees, the desires of the beneficiaries is secondary.
