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Estates

Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.

6,325 Questions

Is a will a public document?

A will becomes a public document when it has been presented to the probate court for allowance. A will that hasn't been probated is not a public document.

Are all people who have descended from a common ancestor legal relatives?

Whether persons are "legally related" depends on the purpose for which the relationship is being measured, as well as the particular jurisdiction. For example, in New York the furthest relationship considered in the area of estates (intestacy in particular) is the first cousin once-removed. So, persons who are all descended from a particular person can all be legally related in some instances. But if the ancestor in question is further back than a great-grandparent, not each of the descendants is going to be a legal relation of each of the others (though some, of course, will be).

What do lawyers get out of the will?

Lawyers typically get paid an hourly fee for helping an executor with a will. If they are the executor of the will, they will record their hours and bill the estate for them. In this case it is to their benefit to keep the estate open as long as possible. But all fees have to be approved by the court, so they have to be reasonable.

What is an addendum to a will is it something that has to be done before the ptobate of a will or after?

The only person that can amend a will is the person who wrote it. So it has to be done before they die. And probate can only happen after the testator dies.

Can you respond after the estate has been closed?

There is a statutory period of time during which you may respond to notice of the probating of an estate. Once the estate has been probated and closed it is too late.

How do you update small estate affidavit in Oregon?

Having just done this ourselves we simply filed a new Affidavit. The only difference being in the title we were told to write "Amended Affidavit of Claiming Successor".

The new/amended affidavit was basically the same as original but will the changes and the title change. The court used this copy in place of the original that we had filed. There was no additional filing fee for this, we only paid for the certified copies that we needed.

My mother's will states that property go to her siblings does it have to go to probate?

Yes, in order for the property to be properly transferred, the executor has to execute the deed.

In California is the surviving spouse responsible for credit card debt if there is a living trust?

= Is my spouse responsible for my debt? = By Eugene S. Melchionne, Connecticut Bankruptcy Attorney on Mar 29, 2007 in Debt Collector Abuses, Connecticut, Marriage and Debt, General Bankruptcy Information For along time in the United States we have recognized that husbands and wives are separate legal entities. We may take for granted that women can own property in their own name or that a husband does not 'own' his wife. But we do accept that generally speaking, spouses are not responsible for each other's debts. They can file for bankruptcy alone. But is this entirely true? For the most part, yes. However, many states also have spousal support statutes which mean that a spouse is responsible for the other's health and welfare, meaning food, shelter, and medical care. The interpretation varies from state to state. Look for this to be the latest scam of debt collectors in trying to collect a debt. The debt collector will tell you that the credit card was used to buy clothing or purchases at the local drug store or something used for the house and therefore, you are responsible for that spousal support debt. Check out this article at the Association of Credit and Collection Professionals. Bankruptcy Basics: What Is An Adversary Proceeding? by Karen Oakes, Southern Oregon Bankruptcy Attorney Can They Still Take My Furniture, Jewelry, and Electronics after Bankruptcy? by Michael Doan What Is Zombie Debt and Why Is It a Problem? by Kent Anderson, Oregon Bankruptcy Attorney The Collection Agency Says They're Going To Garnish My Wages, Take My Car And Force Me To Sell My House To Pay My Debts: Can They Do That? by Douglas Jacobs, California Bankruptcy Attorney Violation of the Bankruptcy Discharge Injunction may have you seeing Green! by Carmen Dellutri, Attorney at Law

How can you change beneficiary after death?

I don't think you can, unless you have proof that a will/trust is not authentic. These kinds of arrangements wouldn't be worth much if benericiaries could be changed after death. They exist to insure that the deceased's intentions will be carried out.

How do you write a will that if you leave everything to your son that the daughter in law can not get anything from it?

You need to consult with an attorney. You may not be able to control the property that you leave by your will. Once you leave property to your son it becomes his property and he can do whatever he wants with his property including sharing it with his wife. You may need to skip your son and leave the property to his children or leave the property in trust. In any case you need to discuss your needs with an attorney who can review your situation and explain your options.

Is it illegal for a personal representative in charge of closing an estate to spend estate money for personal use or crisis?

Yes. The person is required to provide an accounting to the court of all property that came into the estate and all the property that went out. The use of funds for personal reasons should be reported to the court.

If an unmarried son dies with no will who is the inheritor of the estate and responsible for the estate?

The parents are entitled to the estate if there are no descendants and no spouse. the court will appoint an administrator if there is no will. The intestacy laws vary some between states, so check the laws for your state. In some siblings may be entitled to some portion of the estate. Consult an attorney for more specifics.

Does interest accrue on credit card debt after card holder is deceased?

Interest does not accrue on credit card debt after the card holder is deceased. It can occur however, if the spouse is on the account.

Is it require to file gift tax return with IRS for a retained life estate deed?

I am a trusts and estates attorney in New York. You are correct that you must file a gift tax return when conveying a deed to a non-spouse even if you retain a life estate in said property. The property will also be included in the grantor's estate at full fair market value as of date of death.

What happens to your money when you die?

All states have a law known as the statute of descent and distribution. When a person dies intestate(with no will), their real estate, personal property and money go to their heirs according to this statute. In other words, the state makes a will for anyone who did not do so. A person who dies testate has a will stating to whom they wish their estate to go. But, before the heirs can take possession of all or any part of the decedent's (the deceased) property, the estate must be probated, and all claims against it must be met.

What is a trust?

A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.

There are many types of trusts and trust law is complicated. A trust instrument should always be drafted by a professional in order to meet the needs of the trustor and meet the requirements of federal and state laws.

You can read more about trusts at the link provided below.

What does 2MM mean?

It depends on the context, but how about "2 millimeters"

How do you find if a trust fund still exists that your grandfather set up for you when you were born but you were never contacted when he died?

If your grandfather's estate was probated you could go to the court and examine the probate file. You should examine the inventory for bank accounts and also examine the will for any mention of accounts or trusts that were set up for grandchildren. However, a trust may not show up at all in the estate. Check with the attorney who handled the estate. You could also ask your parents if they remember any more details about the trust fund. If they know the name of the law firm that represented him in life, or his bank, perhaps someone there could help you. His attorney may have a copy of a trust instrument. If there was a trust fund set up then there was also a trustee.

Your son-in-law died of cancer his job insurance has his mother as beneficiary can the beneficiary be change to his wifes name?

The only person that can change is has already passed away. It is too late to change the beneficiary. However, there may be a law in your jurisdiction that says that it has to be the spouse unless the spouse has signed off on the selection form.

Can the executor of an estate set the price of the real estate of the estate?

In New York an Executor can set the price of the real estate of the estate. However the price should be close or at the market value. Oftentimes in New York an Executor must have the sale approved by the Court. The Court will then look to see if the price is reasonable. The Executor will have to submit various documents to support his request to sell the real estate at the price s/he he set (i.e. appraisal, tax assessment, etc.) So, the answer is yes the Executor can set the price, but oftentimes subject to the approval of Surrogate's Court.

Can the funds in an Irrevocable Trust be garnished?

The short answer is NO, no way, no how, not a chance. The long answer is how long ago was the irrevocable trust fund set up? And did the person setting it up know a lawsuit was on the way? In other words, does it look to a judge that money was purposely put in an irrevocable trust fund in order to avoid garnishment? If it was set up 12 or more months ago, it's as safe as money can be. If the whole thing looks suspicious, a judge could garnish but this almost NEVER EVER happens. There is one other issue, is it child support that would be the garnish? If so, I think a judge might ignore the fact that it's irrevocable. The courts always put an innocent child first so if it's unpaid support, it could be at risk. I have a few different irrevocable funds left by my dad. I was able to change the trustee (the person in charge of distributing the $$ in the fund to me because I was a minor) on one of them but only because that person agreed to step down. He was in prison for the felony of embezzling money..... FROM ME, and I still needed him to step down.

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