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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
Who is Next of kin mother or brother when there is no will?
Generally, if the decedent was not married and had no children the parents are the legal heirs in an intestate estate. You can check the laws of intestacy in your state at the related question link provided below.
Who files tax return for a deceased person?
The executor of the estate files the tax return for the deceased.
Generally, the probate of the first estate would need to be completed. If the next of kin who died is the only heir and was living when the first person died then that person's estate would need to be probated.
If two of the beneficiaries want to keep the property then they should try to work out an agreement with the remaining beneficiaries to buy out their shares for a fair price.
However, the executor may have the power to sell the real estate. The testator often gives that power right in the will. In that case, the executor may sell the property without any license from the court. If the power to sell was not granted in the will the executor must apply for a license to sell the real estate. The two beneficiaries may object to the sale. However, they should be prepared to offer an alternative since five of the beneficiaries do want to sell. Unless they offer to buy out the other beneficiaries the court is likely to issue the license to sell.
Should I be responsible for my deceased wife's hospital bills in FL?
In most states the surviving spouse can be held responsible for their spouse's medical bills under the doctrine of necessities. However, in Florida, the Supreme Court abolished that doctrine in 1995 in Connor vs Southwest Florida Regional Medical Center, Inc., 668 So. 2d 175. Unless you signed some agreement to pay (such as when your wife was admitted to the hospital) you are not responsible.
No. She is legally bound to follow what the will says. If, however you are a minor - she may put your share in a trust until you are of legal age. She cannot keep it for herself or give it to anyone else.
The person to whom you referred is his widow and generally a widow is entitled to a portion of her husband's estate under most state laws. You can check the laws of intestacy at the related question link provided below. His widow would be referred to as the surviving spouse under state laws of intestacy.
Do adult children have to pay off deceased parents debts from their inheritance?
The debts of the decedent must be paid by the estate. In fact, the debts must be paid before any assets can be distributed to the heirs.
Is it illegal to change a deceased person's will?
Of course it is illegal to make changes to a decedent's will. Anyone who does so should be reported to the authorities immediately.
What is the tax rate in Canada?
What are the income tax rates in Canada for 2010?These are the rates that an individual will use when completing their 2010 income tax and benefit return. The information may change during the year to reflect updates to the law.
Federal tax rates for 2010 are:- 15% on the first $40,970 of taxable income, +
- 22% on the next $40,971 of taxable income (on the portion of taxable income between $40,970 and $81,941), +
- 26% on the next $45,080 of taxable income (on the portion of taxable income between $81,941 and $127,021), +
- 29% of taxable income over $127,021.
The chart below reproduces the first calculation that has to be made on Page 2 of Schedule 1 of the tax package to calculate net federal tax. Page 1 is used to calculate federal non-refundable tax credits.
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How does a surviving spouse cash a deceased spouse's stock check?
You should speak to a bank representative to determine if the bank will allow the check to be deposited in your joint account.
Does a fetus have a right to inherit from an estate?
Fetuses are not mentioned in the probate codes. The answer to your question is no. That terminology is wrong when speaking about legal rights of inheritance. Probate codes do not mention fetuses and therefore they have no rights of inheritance. All fetuses do not come to full term and a right to inherit would only be realized after birth. After birth, there is no longer a "fetus" but a living child.
Children who are born after the death of a parent are referred to in probate law as after-born children and they are indeed entitled to a share in their parent's estate. Most often, they receive an intestate share since they are not usually mentioned in a will. A child born after the death of an intestate parent has a right of inheritance.
Although you may designate someone not yet born as a beneficiary, that person must be subsequently born living in order to receive an inheritance. For example, a mother could leave a gift in her will for any issue of her only daughter. If her daughter had two children and was pregnant when her mother died but suffered a miscarriage, her two daughters would inherit but there would be no gift passed to her unborn child since the pregnancy did not go to full term with a living birth. The fetus had no rights, no estate nor heirs.
If that child was born living and died after receiving the inheritance, the child's next-of-kin would inherit its estate. The "right" to inherit comes only after birth.
Life estate put in more then one name can home be sold?
A property that is encumbered by two life estate cannot be sold or refinanced without the written consent of the life estate holders.
What if a Life estate was put in more then one name can home be sold?
A home that is subject to a life estate cannot be sold without the written consent of the life estate holder.
Does a will need to be probated in the state the property is located in?
Yes. Generally, an estate that holds real estate must be probated in the state where the land is located. Generally, if the decedent's estate is probated in the state where they lived and there is land in another state an ancillary probate must be filed in the state where the land lies. In an intestate estate, land is distributed according to the laws of intestacy of the state where the land is located.
What is important about real estate management?
Real estate must be managed, in order to maintain the value of the investment.
Homeowners manage their own investments.
Apartment building owners hire property managers. Commercial buildings also require property managers.
Condominium, home owners associations and co-operative buildings hire association managers. Not only do association managers handle maintenance, they handle and guide finances, tenant turnover issues, owner assessments, legal issues, insurance coverage, state laws that govern common interest communities, and so forth.
Can an irrevocable trust be added to the deed of a house?
Trusts aren't "added" to deeds. If you want to transfer your property to a trust you need to consult with an attorney who specializes in trusts. The attorney will review your situation and your needs and draft a trust that conforms to state and federal laws. Then you will need to tranfers your property to the trustee of the trust by executing a deed. Once that's done you will no longer own the property. Title will be held by the trustee who will manage the property according to the terms of the trust.
Is a executor of a will responsible for all the bills of a estate?
The executor is not personnally responsible. The estate is responsible to pay off the debts. If the assets are not sufficient to pay off the estates, they do their best and get the court to agree.
I can not see any circumstance, short of a will being available, where the children would get anything that the wife does not wish to give them. If the Children are minors, and were under his care, she would be responsible for them. If the children were not under his care, child support would have been given. After death, they would receive SSI until they are 18.
If the children are over 18, they would not have a legal stake, unless a will was made available showing they did.
If there was no successor named in the original POA then that POA is extinguished. If the principal no longer has the legal capacity to execute a new POA then someone must petition the court to be appointed the conservator to manage the estate and the affairs of the person who is now incapacitated.
Am i entitled to see my deceased aunt's will?
It's not so much an entitlement but once an estate is opened and the will has been turned over to the Register of Wills, it becomes public record. Anyone, at any time can go to the Register of Wills for the county that the deceased lived in and look it up. I've dealt with the estates of both my parents over the past 4 years and there are huge books there on sliding shelves that contain all the wills that have been handed in to open estates. So anyone can look at one.
When a father dies does the step-mother automatically keep all property and inheritance?
The distribution of your father's estate depends on several factors. If he and his wife owned property as joint tenants with the right of survivorship then his interest automatically passed to her when he died. If your father owned any property in his own name he could make a will and direct how that property should be distributed. If your father lived in a community property state, community property laws would affect how the property would be divided. If your father died without a will the state laws of intestacy would guide the distribution of his property. You can check your state laws at the related question link provided below. Follow the link for State Intestacy Laws and click on your state.
How do you write a last will and testament?
To write a last will and testament, start by clearly stating that it is your will and revoking any previous wills. Then, list all your assets and how you want them distributed among your beneficiaries. Be sure to appoint an executor to carry out your wishes and sign the document in the presence of witnesses to make it legally valid. Finally, store the will in a safe place and inform your loved ones where to find it.
