Estates

No. Assets that were transferred to a valid trust are not included in the estate of the decedent.

Yes, a public notice is typically required after intestacy. This notice serves to inform potential heirs and creditors of the deceased's estate, allowing them to come forward and claim their rights or debts. The specific requirements for public notice can vary by jurisdiction, so it's important to consult local laws or an attorney for guidance.

The parent is deemed intestate and their estate must be probated. Any estate that contains real property must be probated in order for title to pass to the heirs legally. The property will be distributed to all the legal heirs will inherit according to the laws of intestacy in your particular jurisdiction. Generally, if there is no surviving spouse the property goes the decedent's children and the children of any deceased child. See related question link.

There is no upper limit. A complex estate can take decades to close out.

Generally, yes. Cashing checks would be among the usual duties of the trustee. Remember that the trustee is the person appointed to act on behalf of a trust. A trust is a legal relationship created on paper and it needs a person to do the legwork. Trustees have all the powers set forth in the document that created the trust.

No. Although next of kin is an inexact term depending on the context, a fiance is not next of kin. An unmarried adult's (who has minor children) children and parents would be considered next of kin. See related question link.

A fiance would have no legal rights unless the decedent had executed a document granting legal authority.

Should the beneficiary of an IRA be trust or the heirs

Generally, every heir at law must be notified with or without a Will. If there is a Will they will have the opportunity to file an objection. If there is no Will the estate will be distributed to all the heirs at law according to the laws of intestacy.

He cannot "sell" what he doesn't yet own. He can enter into a contract for sale if he can find a willing buyer and the transfer of title can take place after he has taken title to the property.

You can name your trust any way you choose. Most people use their own name such as "The Jones Family Trust" or "The Harry Connick Revocable Trust". However, a trust can be titled any other way such as "The Magic Mountain Trust" or "Lincoln Lane Trust". If the trust is to hold title to real estate you should be conscious of how the documents that affect the property will be indexed in the land records, and, take care not to choose a name that is already used by another entity.

You need to review the trust document to determine whether you have that power and how it must be exercised.

The best ... and only ... advice we can give here on this is "contact an attorney." The procedure is going to depend on the jurisdiction, and you're almost certainly going to need an attorney before this gets resolved anyway.

If the administrator (do you mean executor?) is a family member or friend you might talk to them first; you might be able to resolve this amicably (maybe there are very good reasons for what you perceive from the outside as "bleeding the estate dry"). If not, it's lawyer time.

The only document needed to set up a trust is the trust document, or, the Declaration of Trust. The trustee and all business carried on by the trustee must rely on the provisions in that trust document. It should always be drafted by an attorney who specializes in trust law in your jurisdiction since the trustee can only exercise the powers set forth in the trust document. An invalid trust can create problems that are costly to correct and must be addressed by a judge in a court of equity.

The estate must be probated. The duly appointed estate representative has authority over the property. The beneficiary cannot take full possession until any debts of the estate have been paid and the estate has been settled.

The first step is to hire an attorney who specializes in probate who can assist you in petitioning to be appointed the personal representative of the estate.

A petition for probate should be filed where the decedent resided.

In cases where the decedent owned real property in another state their probate (usually consisting of attested copies of the original filing) must be filed in the state where the real estate is located.

For example, if a resident of Florida died their estate must be probated in Florida. If they still owned real property in Massachusetts at their time of death, an attested copy of the Florida probate must be filed in the proper county in Massachusetts in order for the title to the real estate to pass to the heirs legally or for the administrator to be able to sell the property.

You must be the duly appointed fiduciary and generally, you need the court's permission.

No. That would be considered stealing from the estate.

The person appointed by the probate court is the "duly appointed fiduciary". No one has the authority to settle an estate until they have been duly appointed by the probate court.

A trust is a very useful estate planning tool. Need depends on the size of your estate since a well drafted trust may cost a couple of thousand dollars or more depending on the complexity and the trustees may need to be compensated for their management of the trust. However, even simple estates can benefit from estate planning. Generally, a person sets up a trust in order to remove property from their personal ownership. Transferring real property to a valid trust protects it from creditors and lawsuits and can be used as a way to bypass probate. A trust can specifically designate how the trust property will be distributed outside of inheritance law, or hold property and continue to distribute the profits to the beneficiaries.

A trust should always be drafted by a professional who specializes in trust law, to fit your personal needs. Generic trusts can be extremely risky, resulting in errors that can be extremely costly to correct.

A residuary trust is set forth in a Will and is non-revocable after the death of the testator. It can be amended or revoked while the testator is still living.

During the life of the trustor.

It would be possible depending on the details. For example, the current trustee could execute a valid lease on behalf of the trust. If a successor trustee was appointed, the trust would still be subject to the terms of that lease so the successor trustee would be obliged to honor it.

Yes. Any property owned at the time of death is a decedent's estate.