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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 a person sign a legal document if they have given power of attorney to someon else?
Yes, the grantor of a power of attorney still has that ability. And they can cancel a power of attorney at any time.
What if 2 people want the same item from an estate?
The executor will have to make a decision. If they are unable to, they can petition the court for assistance.
Who can claim interest in a deceased estate?
Any natural heir
Anyone named in a valid will
Anyone owed money by the estate.
Does an executor to a will in NY have to update beneficiaries on regular basis?
Yes, there is typically an annual reporting requirement to the court and beneficiaries.
You need to file a lawsuit in a court of equity immediately. You should consult with an attorney ASAP.
You need to file a lawsuit in a court of equity immediately. You should consult with an attorney ASAP.
You need to file a lawsuit in a court of equity immediately. You should consult with an attorney ASAP.
You need to file a lawsuit in a court of equity immediately. You should consult with an attorney ASAP.
How do you divide an estate when two of three heirs owe money to the estate?
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
Can a trustee use the income from an irrevocable trust?
For personal use, only if they are the beneficiary. They are entitled to compensation for their work and to use funds for the benefit of the trust, but these are typically laid out in the trust itself.
Can you insure a house that's in the estate of?
The executor should make sure that insurance is current on property in the estate.
Can the administrator of an estate sue the estate?
You would need to provide an example of an issue the administrator would have with the "estate". The administrator of an estate is the person appointed by the court to represent the estate. They are paid from the estate for performing their duties. Their fee comes out of the assets before any assets are distributed and they have the authority to pay their own fee out of the estate.
Any lawsuits against an estate must be served on its administrator. It is difficult to think of an example where the administrator would do something at odds with their own interest in the estate.
You would need to provide an example of an issue the administrator would have with the "estate". The administrator of an estate is the person appointed by the court to represent the estate. They are paid from the estate for performing their duties. Their fee comes out of the assets before any assets are distributed and they have the authority to pay their own fee out of the estate.
Any lawsuits against an estate must be served on its administrator. It is difficult to think of an example where the administrator would do something at odds with their own interest in the estate.
You would need to provide an example of an issue the administrator would have with the "estate". The administrator of an estate is the person appointed by the court to represent the estate. They are paid from the estate for performing their duties. Their fee comes out of the assets before any assets are distributed and they have the authority to pay their own fee out of the estate.
Any lawsuits against an estate must be served on its administrator. It is difficult to think of an example where the administrator would do something at odds with their own interest in the estate.
You would need to provide an example of an issue the administrator would have with the "estate". The administrator of an estate is the person appointed by the court to represent the estate. They are paid from the estate for performing their duties. Their fee comes out of the assets before any assets are distributed and they have the authority to pay their own fee out of the estate.
Any lawsuits against an estate must be served on its administrator. It is difficult to think of an example where the administrator would do something at odds with their own interest in the estate.
Do an estate have to be set up if you do not have a benefiary?
The state will set up the estate, since there are no beneficiaries, the state will take over all property.
Is spouse guaranteed half estate?
That depends on the laws of the jurisdiction. In many cases the spouse is entitled to a portion of the estate, which may be 1/3rd or 1/2. Check with a probate lawyer in your jurisdiction.
Generally no because anybody can go on it and edit an article.
Are checks made out to the estate of a deceased person reported to the decedant's estate?
It is a bit hard for anyone other than the estate to cash the checks, so yes, they are reported to the estate.
Who is responsible for mortgage debt after death?
The mortgage debt is the responsibility of the estate. The mortgage will have to be satisfied before the estate can be closed. Before anything in the estate can be distributed, the debts have to be cleared.
Can i find out if there is a mortgage on an estate?
Check the deed at the court house. There will be a lien against the property if their is a mortgage.
Can a beneficiary ask what an estate is worth?
Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.
Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.
Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.
Yes. The beneficiary can also visit the probate court and request to see the probate file. The inventory of the estate can then be reviewed once it has been filed with the probate court.
What happens to money in bank when you die?
If it is your sole account you should always name a beneficiary. The bank will assist you if you visit any branch. If no beneficiary was named the funds in the account become part of the owner's estate upon death.
If the account is a joint account with the right of survivorship the full ownership will pass automatically to the surviving joint owner (who should then name a beneficiary through the bank).
Can the executor of an estate over ride the wishes of one of the beneficiaries?
Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.
Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.
Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.
Yes. Once an executor has been appointed by the court they have the authority to settle the estate according to the provisions in the will and according to the state probate laws. Every executor has some degree of discretion in settling the estate and they have the final word. If the beneficiary has a bona fide complaint about an executor's decision they can file a motion for the court to render a decision on the matter.
Do securities transferred to a decedent's Estate get a step up in basis?
The basis will be stepped up when given to the heirs. They will get it at the current market value. It is one of the bigger loopholes in the US Tax system.
Can an attorney be both the attorney for the estate and an individual beneficiary of the estate?
Yes.
"Trust thyself" means to have confidence in your own judgment, beliefs, and decisions. It encourages you to rely on your own thoughts and instincts, and to trust that you have the ability to make the right choices for yourself.
