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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 do you call a woman or girl that will inherit property?
a woman or girl who will inherit property is called a heiress
The estate gets the furnature. The executor of the estate will then distribute it according to the intestacy laws once the debts are resolved.
Does estate money belong to both husband and wife?
An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.
An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.
An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.
An inheritance by either a wife or her husband is not the property of the other. An inheritance is the sole property of the beneficiary who inherited it.
What percent is a daughter-in-law entitled when her husband has died and they have no children?
The daughter-in-law is entitled to the widow's portion of her husband's estate, if local law establishes such an entitlement. Her entitlement to a portion of the estate of the parents of a dead husband where there are no children is probably nothing under intestacy laws, depending on the jurisdiction. Even if there are children, the inheritance may go to the children, with the daughter-in-law serving only as a trustee of their inheritance, not to the woman herself.
If there is a will, it will be dependent on how it was written.
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What is the term used to desribe situation when person dies without a valid will?
The term is 'intestate'.
The property owned by a trust is the trust res.
The property owned by a trust is the trust res.
The property owned by a trust is the trust res.
The property owned by a trust is the trust res.
What happens to deceased personal effects left in apartment?
Normally, when a person dies, some person or persons will inherit the possessions of the deceased person. This is easier to figure out if there is a will. If there is no will, the courts have to rule on the matter. In some cases, there is no surviving relative who might plausibly inherit, and property (if any) will be claimed by the state. Abandoned possessions can always be turned in to the police, who can hold them until someone can prove that they own them. However, if the abandoned possessions appear to be of little value, they may just be thrown out.
Can a trustee cash an insurance check that is made out to the trustee or trust?
Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.
You need to review the document that created the trust to determine the extent of the trustees powers.
Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.
You need to review the document that created the trust to determine the extent of the trustees powers.
Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.
You need to review the document that created the trust to determine the extent of the trustees powers.
Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.
You need to review the document that created the trust to determine the extent of the trustees powers.
What is a Special Needs Trust co-consultant?
A "special needs trust" is established for a person under some handicap who is receiving assistance from some type of government program. The trust is set up so that they do not lose eligibility for that assistance by owning assets.
It cannot be emphasized enough that the trust must be drafted by an expert in trust law and tax law. Attorneys who specialize in trusts are generally the best choice. If properly drafted, the trust assets will not be counted for purposes of qualifying for benefits. If improperly drafted those assets could trigger a denial of government benefits until the trust assets are spent.
A special needs trust consultant would be a person who has expertise in drafting special needs trust. A co-consultant is a person who works with that consultant.
You can read more about this topic at the link provided below
A "special needs trust" is established for a person under some handicap who is receiving assistance from some type of government program. The trust is set up so that they do not lose eligibility for that assistance by owning assets.
It cannot be emphasized enough that the trust must be drafted by an expert in trust law and tax law. Attorneys who specialize in trusts are generally the best choice. If properly drafted, the trust assets will not be counted for purposes of qualifying for benefits. If improperly drafted those assets could trigger a denial of government benefits until the trust assets are spent.
A special needs trust consultant would be a person who has expertise in drafting special needs trust. A co-consultant is a person who works with that consultant.
You can read more about this topic at the link provided below
A "special needs trust" is established for a person under some handicap who is receiving assistance from some type of government program. The trust is set up so that they do not lose eligibility for that assistance by owning assets.
It cannot be emphasized enough that the trust must be drafted by an expert in trust law and tax law. Attorneys who specialize in trusts are generally the best choice. If properly drafted, the trust assets will not be counted for purposes of qualifying for benefits. If improperly drafted those assets could trigger a denial of government benefits until the trust assets are spent.
A special needs trust consultant would be a person who has expertise in drafting special needs trust. A co-consultant is a person who works with that consultant.
You can read more about this topic at the link provided below
A "special needs trust" is established for a person under some handicap who is receiving assistance from some type of government program. The trust is set up so that they do not lose eligibility for that assistance by owning assets.
It cannot be emphasized enough that the trust must be drafted by an expert in trust law and tax law. Attorneys who specialize in trusts are generally the best choice. If properly drafted, the trust assets will not be counted for purposes of qualifying for benefits. If improperly drafted those assets could trigger a denial of government benefits until the trust assets are spent.
A special needs trust consultant would be a person who has expertise in drafting special needs trust. A co-consultant is a person who works with that consultant.
You can read more about this topic at the link provided below
How do you apply for executor of an estate with no will?
You should be able to pick up a set of probate instructions at your local courthouse, or they may be available on line. Follow the instructions and file the appropriate forms with the court and they will issue a letter of authority.
Do you have to pay income taxes on an unsettled estate?
Yes, you have to file a tax return for the estate. Any income will be reported and taxed accordingly.
Can an estate sell a car to family member for 1?
That depends on the estate. If there a outstanding debts, no, it would be seen as an effort to avoid paying debts. If the estate is liquid, they can receive the vehicle as part of their inheritance.
Who pays taxes on estate that is controlled by the executor?
The executor of an estate uses the assets of the estate to pay any taxes or other debts owed by that estate. If it should turn out that the taxes owed exceed the value of the estate, then the executor pays as much as the estate consists of, after which there is no longer an estate.
How much tax do you owe from being a beneficiary?
How much do i pay for the forms that i need to fill out of a relative who passed away in may, its my brother and i have three more brothers but they don't want anything to do with his belongings. So i am wanting to apply
Why would a person get a copy of a will if they are not a beneficiary?
Anyone can get a copy of a will once it has been dealt with by the Probate office. They may ask to see a copy of so and so's will to check whether they have been left anything, or simply to satisfy their curiosity as to how the dead person's estate was divided up.
Leaving a will, the money/property goes to the people you state. Without a will, the rules of intestacy kick in, where the money cascades from father down to son and so on. But if there are no children, it "fails" and the money goes back to make "the pot" bigger for everyone else who is a beneficiary. So it's different if there is a will, better, more controlled.
What happens to the equity when home owner dies and the home is sold?
It goes into the deceased's estate.
Does a step son have a legal right if not adopted to arrange his step fathers funeral?
not really, other family members may want to do it first. It will also depend where the funds are coming from to pay for the funeral. If there is no estate and it is the step son who has the money to pay for the funeral more likely than not, no other person will object. The only person that can take presidence is an executor who may be instructed in a Will to carry out such arrangements.
AnswerNo. A step-son does not have a legal right to arrange a funeral unless that right was granted in a will or other legal document executed by the decedent.
The life insurance is part of the estate not separate from it. In the UK and most other countries, all debts starting with the funeral expenses must by law be paid first from a persons estate. Once all funeral costs, debts and expenses are paid from the estate, only then can any monies be paid out (if there are any left after payment of such bills and expenses).
United States
When the decedent named a beneficiary on a life insurance policy the payout goes directly to the beneficiary and is not considered part of the estate. Being a named as a life insurance beneficiary does not oblige the beneficiary to pay for the funeral. The next of kin, if any, must pay for the disposition of the body. If the beneficiary is also a next of kin you may be successful in suing them for their share of the expenses.
How can you find out if a house has been sold who brought it?
You should be able to get that information from your county assessor's office or a local title insurance business. In many cases the title company can simply email to you a copy of the most recent deed for the house.
Does executor of estate have right to live in house that is being sold in the estate?
They can live in the home if it is to the best interests of the estate. They need to pay the appropriate rent in the process.
When your dad dies who gets his house?
That depends on many things, the most important of which is called a Will. If your Dad made a Will, then all his property after any taxes or debts he owed that may have to be paid (his estate) is divided up as the Will specifies. His house in these circumstance will go to the person he has left it to.
If there is no Will, then the estate will be taken over by someone appointed by the state/country in which he lived and this person will divide up the estate as your countries laws require. As the person was your Dad you will have a claim on his estate and the house could go to you but if your Dad left a wife, she will have a pirority claim on it, even if she is not your mother.
Without a Will it is complicated - get legal advice.
They can collect before it is settled
