Estates

The cost varies in different jurisdiction. The cost varies according to the complexity of the estate. The cost varies according to the amount of assets that must be addressed. The cost varies if there is a testamentary trust set forth in the will. The cost varies according to the amount of legal advice it will take to review and address your needs. The cost varies according to how much time the attorney and her/his staff will need to spend working on your will.

An attorney would need to review your particular situation in order to explain your options and estimated costs. You should contact several attorneys in your area and ask for a free consultation to discuss your needs and the cost of drafting your will.

The beneficiaries of a trust are not usually the "actors". Acting jointly or severally generally pertains to entities that perform the same functions such as trustees. A trust can provide that the trustees can act jointly or severally. That means, one trustee can take any action allowed by the provisions of the trust without the consent of the other trustee. You need to add more details regarding how you think "jointly and severally" would apply to beneficiaries.

To claim your cousin's estate, you will need to determine if they left a will. If there is a will, you may need to file a petition for probate in the appropriate court. If there is no will, you may need to go through the intestate succession process in accordance with the laws of your state. It is recommended to seek the assistance of a probate attorney to help guide you through the legal process.

The major role would be communication between family and relatives. Kin keeper is actively involved in keeping members informed about family gatherings, illnesses, deaths and information regarding individual accomplishments. They also help maintain family traditions.

Yes, you can change a trustee in a will by creating a new will that specifically designates a different individual or organization to serve as trustee. It's important to follow the legal procedures in your jurisdiction to ensure that the changes are valid and legally enforceable.

In the absence of a will, laws of intestate succession govern property distribution. Typically, surviving children would inherit a portion of the estate based on state laws. The exact distribution would depend on factors such as the number of children, spouse's rights, and other relatives.

An individual could transfer all her property to a trust so that she owns nothing at the time of death. However, property might be missed or property may come into the estate as a result of the death. A person who has a trust should also have a will.

Estate planning is a complicated process that requires expert advice. You should arrange a consultation with an attorney who specializes in estate planning and tax law who can review your situation and explain your options.

Yes, if a decedent's wishes are clearly outlined in a will and there are no challenges or disputes from interested parties, those wishes are generally carried out by the executor of the estate. Probate court oversight may still be required to ensure the proper distribution of assets according to the will.

In Western countries and other modern, developed, civilized societies, children (or wives) are not considered property. However, in many places in the world that is not so. You would need to do a country by country research project if you have specific countries in mind.

Generally speaking, no. A trustee has to have access to financial records, meet with beneficiaries, and conduct all the other duties a trustee is required to do. That is simply not available to someone who is incarcerated.

Once a will has been filed for probate it becomes a public record. If the will was filed for probate you can visit the probate court, request the file and read the will. If the will was not probated then you have no right to read it and will need to ask someone in possession of the will for permission.

For a number of reasons. To ensure the testaor was not under duress when he was signing the will. Also to ensure it was in fact the testator themselves who signed the will. This is a very important part of signing a will. Generally, a will must be signed in the presence of two witnesses, who are actually in the room with the person at the same time. I have seen a number of wills invalidated because this step was handles incorrectly.

Typically, there are some restrictions on leaving property in a will, such as laws that protect certain family members who may have been excluded or provisions that may be against public policy. It's important to consult with a legal professional to ensure your will complies with all relevant laws and regulations.

Revocable and irrevocable trusts become a public record only if they have been recorded in the land records because they hold title to real property.

The residuary beneficiaries of an estate are entitled to receive the balance of an estate after assets are distributed and all obligations are paid. For example, if a will specifies that one primary beneficiary is due $5,000,000 from the corps of an estate, the residuary beneficiary will receive the remaining balance after attorney fees, estate taxes, and other charges are withdrawn.

Not necessarily. An estate's residue typically includes assets remaining after debts and specific bequests are settled. It may include real estate, cash, investments, and personal property, but personal items like clothing or jewelry may not be considered part of the residue if they are specifically bequeathed to someone.

Putting a house in probate is necessary after the homeowner passes away if there is no living trust or co-owner named. This legal process ensures that the deceased's assets, including the house, are distributed according to their will or state laws. Probate is required to transfer the property title to the rightful heirs or beneficiaries.

Generally, no. A properly drafted trust removes the property from the decedent's estate and the property passes according to the terms of the trust. That is the primary reason for transferring property to a trust.

Trust law is one of the most complex areas of law. The surviving spouse should consult an attorney who specializes in trust and probate law who can review the situation and explain the options. However, actions to break a properly drafted trust can be extremely costly and rarely succeed.

Yes. When a person is named as a trustee there is generally an acceptance executed by the trustee and filed with the trust. You only need to make if known you do not wish to serve and the trustor can name a different trustee.

You have a problem if the original trustor is deceased and the trust was used to remove property from their estate, especially if the trust holds real estate or valuable personal property such as insurance policies, investment accounts and bank accounts. You may need to bring the matter to court and get a court order that validates the unacknowledged copy. This is a good reason to record trusts in the land records. You need to consult with an attorney who can review your situation and determine your options under your state laws.

First, a family member must know where a person keeps the Will so that if the person dies, someone can bring it out. Second, after a person dies, the Will must be probated, meaning it must be brought to the Probate Court to be recorded. If the person has debts or is owed money by "entities" (i.e. whoever), the Estate must still be probated even if there is no will or if it cannot be found; the estate would be treated as if the person never made a will, e.g. the person died Intestate, meaning "with no will".

If you are the Administrator of a Will, you will already have a copy of the will. If you were not the Administrator, you can request a copy at the Clerk of Courts office. If it is still in Probate, the Clerks' office may waive the copying fee since you are a direct relative. If for any reason your request is denied, you can hire an Attorney to investigate the denial and to represent your interests in the estate.

Only step-children who were legally adopted by the decedent would be considered legal next-of-kin.

There is a rare exception in states such as New Jersey in which the estate of a person who dies with no other heirs at law can pass to step-children. These issues are governed by state laws of intestacy.

You can check the laws of intestacy in your state at the related question link.

Generally, under systems of primogeniture, the eldest son inherited the entire estate. Females and younger sons were disinherited. Customs and laws varied in different jurisdictions and different countries. An internet search will yield thousands of sites that describe the right of primogeniture in different places during different periods of time.