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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
No. There is no rule that as executor your debts are forgiven. However, if there is no written evidence of the debt and it is not mentioned in the will you can forget about it since your mother made the decision to not memorialize it in writing.
The value of that CD is an asset unless Payable on Death arrangements were made with the bank when the account was opened. In that case the proceeds do not become an estate asset.
The mental status of the beneficiary has no bearing on distribution. If they have been declared mentally incompetent, the inheritance will be added to the trust for the beneficiary.
Obtain a Letter of Authority from the Probate Court and proceed to execute the will and settle the estate.
Where do you get something notorized?
Generally, you can get a document notarized at your bank or attorney's office. You can also usually get a document notarized at the local courthouse or at the land records office.
Can you file probate under deceased person's maiden name?
You file a probate under the name the person used while they were living. If you want to add an "also know as" or "formerly knows as" then you add it after their name. If you file a probate under a name not used by the decedent then it would have the appearance of trying to avoid creditors or notice to next-of-kin.
Can the estate recover funds from overpayment to heirs?
It is probable that there will be different laws relating to this in different countries so you really need the services/advice of a lawyer (attorney). However, basically it is the executor's (the person named in the will to execute the will) job to settle the estate's debts and distribute the remainder of the estate to the heirs as set out in the will. If there has been an overpayment or mistake made by the executor then the executor would possibly be personally liable to correct the mistake (especially if the executor was a professional). Recovering funds once they have been paid out would not be a likely course of action.
Can an attorney-in-fact under a Power of Attorney spend your money if you are in a nursing home?
It depends on the type of POA you gave them (in the UK there is a special type called an enduring power of attorney) and in this case the money can only be spent for your benefit (i.e. paying your nursing home bills etc). If you are worried talk to a solicitor/attorney.
Another Perspective
The principal's money should always only be spent for the benefit of the principal. A power of attorney grants sweeping powers over all the assets of the principal and many principals have been taken advantage of by their agents. If you suspect that you or someone you know who is in a nursing home is being taken advantage of by their attorney-in-fact, you should speak to the authorities immediately.
You should speak with the social worker at the nursing home or the patient's attorney. An attorney-in-fact is a fiduciary and as such is governed by the laws that control the conduct of fiduciaries. They cannot convert any funds belonging to the principal to their own use. A dishonest attorney-in-fact can wipe out savings quickly. The POA should be revoked immediately and a copy of the revocation should be delivered to any facility or entity that has accepted the POA in the past.
Who is the richest teenage girl in the world?
Anwer is at the moment Carol Shahid Tsar daughter of the world's richest billionaire but facts is that she has to share all the fortune with the rest of her siblings that include Roxanne Tsar, Nadine Tsar, Faruk Tsar also a teenager, Omer Tsar teenager, Simone Tsar, Simran Tsar minors and Nyle Shahid Tsar infant, everything that belongs to Shahid Tsar at the moment is taken care by his eldest daughter Roxanne Shahid Tsar & Tsar's lawyer H.D.Harrison, where as Shahid Tsar is on the verge of getting back into action since any news related to him had been banned since 2009 and Shahid Tsar is now coming up with the biggest, largest companies of the world and is sure that things are going to move accorinding to his plan and Tsar is supported by a team of top of the line advisers and lawyers, Tsar's best school & collage friend M.Lakhani whom Tsar founded after 16 years is now playing a major part in making decissions in Tsar's favor with launching Tsar's new upcoming compnies to take over the world with earth shattering start. M.Lakhani has been given 1% shares that stands at onebillions US dollars
What does Juliek do just before he dies?
he plays a song on his violen by Beethoven to bring peace to those who are dieing and bring strength to those who still have the hope and will to survive.
Can you give your inheritance to someone else?
Once you have inherited something, you can do anything you wish with it.
How do you find out who is handling a decedent's estate?
Check the decedent's name in the probate court index in the jurisdiction where they lived. If their estate is being probated there will be a file number. You can request the file and look inside for the attorney who is handling the estate.
Can I remove myself as trustee and dissolve the trust?
You need to review the terms of the trust to determine how it can be dissolved.
Apparently your parents had a will. They wanted a particular lawyer to probate the will. When they died, they had nothing. In that case, there is no point in probating the will and no one needs to pay to probate the will.
If there was property, then the property can be sold. The estate pays the lawyer.
Did your deceased uncle leave a will? He may have left some instruction as to who inherits his stake in the house. If he didn't, then yes, his wife will inherit his stake in the house, despite the fact that you have made the payments for the past four years (although you can ask her to make her share of the payments).
Is a spouse entitled to part of life insurance benefits even if child is named as beneficiary?
The policy is paid to the beneficiary. It should be placed in trust for the child if the child is a minor. If the child is an adult, the proceeds will be sent to the named beneficiary.
Can a will be contested if a beneficiary coerced the parent into changing the will?
Certainly, that would be undue influence and could invalidate the will. You should consult a probate attorney in your state or country to discuss the possibilities.
Of course it is not legal. It is fraudulent and subject to criminal penalties. The executor should have the utilities put into the name of the estate or have them stopped.
Member of joint account does what happens for survivorship?
When a joint owner dies their interest passes automatically to the surviving owner. The survivor is the sole owner of the account and can close it or make changes. For example the survivor can take the decedent's name off the new checks for the checking account.
There is a period during which creditors can make a claim. It varies in different jurisdictions. The simplest way for you to get an answer is to call the solicitor and ask her when you can expect to receive a check.
If you are a joint tenant with right to survivorship can the IRS come after your joint asset?
Yes. While both tenants are living the interest of either is vulnerable to their respective creditors.
Does the estate of a predeceased child inherit anything when the parent dies?
That depends on several factors:
a.) whether the decedent left a will and how the will is drafted
b.) the state laws of intestacy
You can check your state laws of intestacy at the related question link provided below.
The insured did not sign a beneficiary form. Who can claim the proceeds at the death of the insured?
If the insured didn't sign a beneficiary form the policy will be payable to the decedent's estate. The proceeds will pass according to the will or the laws of intestacy if there is no will. You can check the laws of your state at the related question link provided below.
The proceeds belong to the estate of the beneficiary.
