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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
Can the deceased beneficiary of someones will share of the estate be passed on to their child?
Yes, unless there is a stipulation in the will stating otherwise.
Can a executor receive 1 percent of the estate before its handed out?
The executor's fee is typically set by law. If the fee is set at 1% (or higher), they certainly can.
What is a Complex Non Grantor Irrevocable Discretionary Trust?
In my experience, this would be considered, in layman's terms, a trust in which the grantor, when alive, created a discretionary trust, then the gantor died. Now, the trust is in the hands of the trustee appointed by the grantor, which makes it irrevocable. When the grantor was alive, it was revocable. Now, the complex part usually means that in any given tax period, the trust had distrubutions of principle of some sort. I hope this helps.
Is your husband or father your next of kin?
Your next of kin can be either your husband or father, depending on your personal circumstances and legal definitions. Typically, a spouse is considered the primary next of kin, followed by children and parents. If you are married, your husband would usually take precedence as your next of kin. However, legal documents like wills or medical directives can specify otherwise.
Wild Care Trust is a company where they help the extinct anilmals across the globe helping any animals being endangered.
Can the executor spend money from the trust to fix up the house that is in trust prior to the sale?
Not on your nellie!
An FBO trust, or "For Benefit Of" trust, is a type of trust established for the benefit of a specific individual or group. It allows the grantor to designate a trustee to manage and distribute assets according to the terms set forth in the trust document. This arrangement is commonly used in estate planning to ensure that beneficiaries receive financial support while maintaining control over how assets are managed and distributed. FBO trusts can also help with tax planning and asset protection strategies.
Can a relative contest a will if they are not beneficiary?
Yes, a relative can contest a will even if they are not a beneficiary. They may have standing to challenge the will based on factors such as lack of testamentary capacity, undue influence, fraud, or improper execution. However, the specific laws governing will contests vary by jurisdiction, so it's essential to consult legal expertise in the relevant area.
When the beneficiary dies does the trustee then own the property in the trust?
No. The trust specifies what happens if the beneficiaries are no longer living. It could go to the beneficiaries' estates, or a remainder man, or to a charity. It is possible for the person who set up the trust to leave it to the trustee.
Whose financial asset is the life estate the remainder or the life tenant?
Generally:
The life estate is an asset of the life tenant.
The property is an asset of the remainder.
Generally:
The life estate is an asset of the life tenant.
The property is an asset of the remainder.
Generally:
The life estate is an asset of the life tenant.
The property is an asset of the remainder.
Generally:
The life estate is an asset of the life tenant.
The property is an asset of the remainder.
Does the State of Virginia require an Inheritance Tax Waiver form?
Virginia:
Required if the decedent was a legal resident who died before January 1, 1980.
Dept. of Taxation Office of Taxpayer Services P.O. Box 1880 Richmond, VA 23282
How can an incapacitated independent co-executor of an estate be replaced?
The co-executor must resign and the court can appoint a successor if an independent co-executor is necessary.
The co-executor must resign and the court can appoint a successor if an independent co-executor is necessary.
The co-executor must resign and the court can appoint a successor if an independent co-executor is necessary.
The co-executor must resign and the court can appoint a successor if an independent co-executor is necessary.
Your mother is not considered a natural heir, as you are expected to outlive her. And there is no need to 'disown' a child, you simply have to name them and say they don't get anything.
You can contact the company and request copies, however, it may insist that you get some sort of authority from the court. If that is all you need you should visit the court and ask about an expedited procedure for small estates.
You can contact the company and request copies, however, it may insist that you get some sort of authority from the court. If that is all you need you should visit the court and ask about an expedited procedure for small estates.
You can contact the company and request copies, however, it may insist that you get some sort of authority from the court. If that is all you need you should visit the court and ask about an expedited procedure for small estates.
You can contact the company and request copies, however, it may insist that you get some sort of authority from the court. If that is all you need you should visit the court and ask about an expedited procedure for small estates.
Can estate be settled if property hasn't sold?
It is possible to settle an estate without selling property. As long as the distribution is approved by the court, the property can be transferred to the beneficiaries.
This is one of the real challenges in a life estate.
State and country laws vary, but in general:
The Life Tenant is responsible for the mortgage interest as well as the taxes, ordinary maintenance and repairs. The Remainderman is responsible for major repairs and the principle of the mortgage.
One option may be to give up the life estate, leaving the Remainderman entirely responsible for the property, including the mortgage. This could be a negotiating point.
I highly recommend visiting an attorney licensed in your jurisdiction to get help that works in your situation.
What happens to leased property if the person dies?
If a person who leased property dies, the lease typically does not automatically terminate. The lease obligations may transfer to the deceased's estate, and the executor or administrator of the estate can decide to continue the lease or terminate it. If there are co-signers or co-tenants, they may be able to continue the lease. It's essential to review the lease agreement and consult legal counsel for specific circumstances.
Is there a time limit the executor must disperse funds from an estate?
There is no time limit to settle an estate. It can be very complicated and take many years to resolve and settle.
It can be used if the daughter wishes to do it. But she is not required to. The money was paid to her to compensate her for the loss of the father.
Does the executor of an estate have the right to collect an unpaid debt owed to the estate?
Yes they certainly do have that right. That is the entire purpose of opening an estate, to collect all assets and pay all debts.
Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.
You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".
You should discuss this matter with the attorney who is handling the estate.
Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.
You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".
You should discuss this matter with the attorney who is handling the estate.
Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.
You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".
You should discuss this matter with the attorney who is handling the estate.
Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.
You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".
You should discuss this matter with the attorney who is handling the estate.
Who performs the execution of a deceased persons will?
The executor is the person that performs the last will and testament of a recently deceased person. The executor is usually named in the will. It can be a family member, a legal representative, or anyone that the person chooses.
Why are banks named as NAtional Association?
They are the Trustee Fiduciaries or trustee in a trustee sale ie; foreclosure sale. Since most banks are fraudulently foreclosing on loans that they have been paid on through TARP funds, it is a good way to obfuscate the fraud by calling yourself NATIONAL ASSOCIATION that way you don't have to be registered in most states you are doing foreclosing. Not registered means there is not a registered agent for you to serve papers to in your foreclosure defense. Therefore the foreclosure mill attorney runs over you in court.
Unless the title transfer had restrictions on it, such as a survivorship clause, yes, it can be sold.
