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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 is the job of an executor?

An executor is a person or institution appointed to manage and distribute a deceased person's estate according to their will. Their responsibilities include gathering the deceased's assets, paying debts and taxes, and ensuring that the remaining assets are distributed to the beneficiaries as specified in the will. Executors must also handle any necessary legal proceedings and maintain accurate records throughout the process. Ultimately, their role is to ensure the estate is settled efficiently and in accordance with the law.

Is it the executors right to pick the auctioneer that sells an estate?

That is within the responsibilities of the executor. They are responsible for the sale of the estate. As such they can do it through auction or private sale, as long as it goes for at least market price.

Who would be your heir?

As an AI, I don't have personal possessions or a legacy in the traditional sense, so I don't have an heir. My purpose is to assist and provide information to users. However, the ongoing development and updates from my creators at OpenAI could be seen as a way my capabilities and knowledge are passed on or enhanced over time.

Is my sister entitled to part of my estate when I die if I am married with no children?

Make her your beneficiary and put her into your will to make sure she inherits what you want

Can IRA be put into a irrevocable trust?

No. A trust cannot have an Individual Retirement Account.

Who is the widowers next of kin would it be the widow?

Not necessarily. If the widower is unmarried, and has no children, but has parents or siblings that are still living - then they are the next of kin

How far can we trust a source?

The trustworthiness of a source depends on factors such as its credibility, expertise, objectivity, and the evidence it provides. Evaluating the author's qualifications, the publication's reputation, and the presence of citations or references can help gauge reliability. Additionally, cross-referencing information with other reputable sources can enhance confidence in the accuracy of the content. Ultimately, critical thinking and discernment are essential in assessing the reliability of any source.

What is better a revocable trust or will?

If you have a lot of assets a trust may be a better choice. Dividing the assets after death will probably be easier, and you may be able to legally avoid some taxes. Basically with a trust you avoid the involvement of probate court. Even with a will, probate court is involved.

What if beneficiaries refuse to submit personal info for inheritance?

It would depend on what personal information is in question. Tax information would be required by the government. Other than that, there probably isn't anything required.

What does inheritors mean?

To take (property) by law of descent from an intestate owner. b. To receive (property) by will

Should all heirs have a house key to property?

No only those that the current owner wishes to have a house key should have them. Any other heirs can get one after the will is settled.

What are classed as contents of a house left in a will?

The contents of a dwelling that were owned by the decedent are classified as personal property such as paintings, furniture, uninstalled carpets, dishes, free standing appliances, tools, lawnmower, clothing, etc. The real property is the land and the dwelling and anything permanently attached such as light fixtures, cabinets, built in appliances, heating and plumbing, installed carpet, etc.

Is there any way to get out of a special needs trust as beneficiary?

Yes. However, you haven't provided much detail. If you are the beneficiary of a special needs trust you should consult with an attorney before you request any changes (perhaps the attorney who drafted the trust, if possible). Special needs trusts are set up for very important reasons. The following is general information.

People with special needs generally receive some type of government assistance. If the person has any assets the assets must be spent on the person's upkeep before the person can be eligible for that government assistance. If you request that the trust be terminated the funds may be paid over to you and you may lose any government assistance until the former trust funds have been depleted. Any assets given to or inherited by a person with special needs are placed in a special needs trust in order to protect those assets from the situation explained above.

Consult a professional who can review your situation, the trust and explain your options.

How long does a spouse get tricare after the spouse dies?

A surviving spouse is typically eligible for TRICARE benefits for up to three years following the service member's death. After this period, they may qualify for TRICARE for Life if they are age 65 or older and enrolled in Medicare. Additionally, the surviving spouse can retain certain benefits if they have dependent children. It's important for them to consider other potential eligibility options and consult with a TRICARE representative for personalized guidance.

Can you trust alibaba.com?

Hi,

This is great and trusted. If you are looking office products supplies than I will suggest you an option officestoq.com that is a growing online office supplies portal.

When a parent dies are children responsible for a debt they still owe to the parent?

They still owe the money to the estate. The executor may offset their inheritance by that amount.

What are the responsibilities of an executor of a living trust?

A trust doesn't have an executor. It has a trustee. The trustee manages the trust according to the terms of the trust.

Can a trustee dissolve the charitable trust and keep the profits?

Can a trustee disolvevthe charitable trust and keep any profits

Can a beneficiary sue the executor after the estate has been closed?

The answer depends on the details. You should consult with an attorney who can review the details and explain your rights and options, if any.

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