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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
What effect does without prejudice written under a signature have on an estate agreement?
In the UK:
Without prejudice - a term used by solicitors in negotiations over disputes where an offer is made in an attempt to avoid going to court. If the case does go to court no offer or facts stated to be without prejudice can be disclosed as evidence.
Trust in a person is having confidence in their reliability, integrity, and capability to follow through on commitments or promises. It involves believing in their intentions and feeling secure in their actions. Trust is built over time through consistent behavior and communication.
Can you break a trust before the age limit?
It is generally not recommended to break a trust before the age limit set by the trust's terms. Trusts are legally binding agreements, so violating them can have legal consequences. It's important to consult with a legal advisor if you are considering breaking a trust.
Is inherited property community property?
No. But the inheritance should always be kept separate and not co-mingled with marital property.
If a home was a life estate does it still need to go through probate?
No. A life estate is the right to use the property and is extinguished upon the death of the life tenant. They owned nothing that survives after their death so there is no need for probate unless there are other assets that were in the decedent's name alone. There is someone who owns the "fee" to the property. The life tenant only had the right to use it until they died.
What if a widow does not want to give her stepchildren their third of the inheritance?
It is important to adhere to the legal distribution of the inheritance as outlined in the will or by the laws of intestacy. If the widow does not comply, the stepchildren may have legal recourse to contest the distribution and seek their rightful share through probate court. Communication and potential mediation could also be helpful in resolving any disputes.
It will depend partially on the will. If the new spouse is not mentioned, she may be able to elect to take against the will. If there is no law, it will probably be split in half, half going to the spouse and half going to the children. Consult an attorney to protect your rights.
In general, a stepson may have the legal standing to contest a will if they were a named beneficiary or could reasonably expect to inherit but were excluded from the will. However, the specific laws governing inheritance rights and contesting wills vary by jurisdiction, so it is advisable to consult with a lawyer who is experienced in probate and estate law to explore the stepson's options.
Does the trustee have the right to evict?
A trustee with eviction rights is a complete oxymoron to the essence of what a trust is, and is in total opposition with the purpose and use of liability insurance and its role prevailing civil practices.
Can an executor hide information from a sibling?
Generally, the status of a person as a "sibling" is not relevant. What is relevant is whether that sibling is or is not a beneficiary under the will. An executor has an obligation to give information to the beneficiaries of the estate as named in the will, not to all the decedent's relatives. If a sibling (whether it is a sibling of the decedent or of the executor) has no interest in the estate, he/she has no rights to information about the estate. In some jurisdictions, an executor might be required to simply give that sibling notice of the probate of the will, even if the will gives that sibling nothing, but only if that sibling would inherit some part of the estate in absence of the will. As with all legal questions, the specific answer may differ from state to state depending on that state's laws. So you must check those laws to get the precise answer.
What is the difference between a living trust and a revocable living trust?
A living trust is a trust that exists and is operational during your lifetime. Such a trust may be set up for many different purposes and may be revocable or non-revocable.
A trust that doesn't become active until your death is called a testamentary trust as distinguished from a living trust.
By far, the most common living trust is a revocable living trust. "Revocable" mean it may be terminated at will by any of the persons who created it. The primary reason these trusts are created is to avoid probate court after the death of the person(s) who created or set up the trust. There are many other benefits of such trusts, such as avoidance of estate taxes for the heirs, creating special needs trusts for heirs with difficulties, disinheriting heirs, protecting family businesses, and many others, but avoiding probate is almost always the principal reason for a revocable living trust.
Non-revocable, or irrevocable trusts are generally used for transfer of assets during one's lifetime, often for tax purposes. For example, an irrevocable trust could be established to provide income to certain heirs during their lifetime, with the assets going to charity after the heir's deaths. This is often used to avoid estate taxes. The creator, however, cannot revoke and usually may not change the terms of the trust or take back the assets. They are no longer owned by the creator of the trust.
The principal difference between the two types of living trusts is that with a revocable trust, the creator of the trust can terminate the trust and regain ownership of the trust assets; and with a irrevocable trust, the creator of the trust gives up ownership and control of the assets and the trust cannot be revoked. There may be exceptions to this general explanation, but these are the principal distinctions.
For specific answers to personal situations, it is always best to consult with a local attorney with experience is this area of the law.
When making a will is the testatrix the witnesses?
Testatrix is the feminine form of the word testator, the person who is giving property according to the provisions of the will-- the one who is creating the will. It is an infrequently used form. Aviatrix is an example, the feminine form of aviator. Mary the mother of Jesus is sometimes called the mediatrix of all grace in some religious traditions; mediatrix is feminine for mediator. I guess if we were still using this old form we would call a woman who is a senator a senatrix. Doesn't work very well.
If your father died intestate then his property passed to his next of kin according to the laws of intestacy in the state where he lived. If you and your sister were his only next of kin then you each would inherit a half interest in his property both real and personal. However, in order for title to real estate to pass to the heirs his estate must be probated.
If you were the court appointed administrator of your father's estate you would need a license from the court to make any changes in the ownership of the real estate. If you obtained a license from the court to transfer the property to your name and your sister assented to that license then it's too late for her to change her mind.
However, if the estate was not probated and you had no authority and license to transfer title then all your sister needs to do is petition the court to be appointed administrator of the estate. Any actions you took regarding the transfer of title would be null and void due to your lack of authority.
When a person dies and there is real property or solely owned accounts in the estate an attorney who specializes in probate law should be consulted to initiate a probate proceeding. The average person has no background in probate law and errors made by a non-professional can be costly down the road.
What to do if you have been cheated out of your inheritance?
My nephew received an inheritance when his mom and dad died back in 1982. his grandparents were in charge of it. i am afraid they spent it because he never received any of it. how do i help him find out what happen to his money? abbie joyce5@alltel.blackberry.com
There are several factors that must be considered and you haven't included the important details. The basic questions would be when the land was acquired, how they held title to the property and whether they live in a community propertystate. It is likely they held title so that when one died the other would become the sole owner.
To answer this question you would need to contact an attorney who could check the title to the property in the land records.
In PA are adult step children considered heirs?
In Pennsylvania, stepchildren are not considered legal heirs unless they have been legally adopted by their stepparent. If there is no legal adoption, stepchildren do not have any rights to inherit from their step-parent's estate.
What is a life estate with no powers?
That is not a common term. It could mean without the power to sell. Some states, such as Florida, have something called an enhanced life estate under which the life tenant has the power to sell the property during their life time.
How do you find out if someone has made a will?
To find out if someone has made a will, you can check with the local probate court where the person resides. Wills are typically filed with the court upon the individual's death. You can also check with the person's attorney or consult public records.
Is an executor of an estate that has property allowed to sel?
The executor cannot sell any property at their own discretion unless they have been granted the power to do so. That power must be granted in the will or by a license issued by the court where the probate is filed.
Does a spouse have rights to inheritance from in laws?
You are not a legal heir-at-law of your in-laws. Your spouse is related to them by blood but you are not. You can check the laws of intestate succession in your state at the related question link below.
In this situation, the laws of intestate succession will determine how the property is distributed. Typically, the spouse will inherit a portion of the property, and the remaining portion will be divided among the children. It is advisable to consult with a probate attorney to understand the specific laws in your jurisdiction and to navigate the legal process of transferring ownership of the property.
Let's see . . . the natural daughter's stepfather would be the husband of the decedent. He would be the surviving spouse. Generally, the surviving spouse of someone who dies intestate (without a will) is the primary heir. Each state has its own laws of intestacy and they vary from state-to-state. You would need to check your state laws to determine your status as an heir-at-law. You can check your state law at the related question link below.
Can I leave my estate to my daughter but NOT her husband?
Yes, you can create a trust that specifies that your estate goes directly to your daughter and not to her husband. This allows you to keep control over how your assets are distributed. Consulting with a lawyer who specializes in estate planning can help ensure your wishes are legally binding.
Does a life estate have to be recorded?
Yes. If a life estate isn't recorded then the fee owner of the property can sell the property and the new owner's interest in the property will not be subject to the life estate. Any interest in real estate must be recorded in order for it to be effective against the world.
Can the Executors for a will witness the signing of the will?
It is generally recommended that the executors of a will do not act as witnesses to the signing of the will to avoid any potential conflicts of interest or challenges to the will's validity. It is best to have independent witnesses who do not stand to benefit from the will.
