Estates

The grantor is the person who declares the trust and then transfers property to the trustee. In a testamentary trust the decedent is the grantor. That person can also be called the testator.

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If there is no will that provides otherwise, and no surviving spouse, the state intestacy laws will provide that a parent's property be divided equally among the decedent's children. You can check the laws in your state at the related question link provided below.

The estate is responsible for the debts of the decedent unless some other person agreed in writing to be responsible. However, that means no property can be distributed to the heirs until the debts have been paid.

An administrator can always decline to act in their position. The court will replace them.

You will need a court order and you should apply ASAP. You should consult with an attorney.

If you have a will your property will pass according to the provisions in your will. If you die intestate (without a will) your property will pass according to the state laws of intestacy. See link below.

You need to review the terms of the trust for a provision that allows for the removal of a trustee. If that issue is not addressed in the instrument that created the trust then it must be done by a judge through a court order.

This illustrates why it is so important to have a trust drafted by a professional with a good reputation.

That means the provisions of the trust agreement cannot be changed.

Yes. There are often more than one trustee. The trust should make clear whether any one trustee may exercise the powers of the trustees under the provisions of the trust or if they must act together.

Yes. The CD has been left to you in the will.

No, not as long as they didn't co-sign the mortgage. However, if the parents have died and their property is subject to a mortgage the lender will foreclose on the property if the mortgage isn't paid. If the heirs want to keep or sell the property they must keep the mortgage payments current.

If the debt is evidenced by a promissory note or some other proof of how much you owe the decedent then the debt is owed to the estate. The two heirs generally share equally in the estate. You two should negotiate an arrangement that takes into consideration the money owed and the benefit of living in the inherited premises. You should consult with the attorney who is handling the estate for help in executing a written agreement regarding the property.

In order for title to real estate to pass to the heirs legally, the estate must be probated.

You need to review the contract you signed to determine what terms you agreed to. That contract should be reviewed by an attorney.

Once the will has been filed for probate you can visit or contact the court to obtain a copy. Once a will has been filed in probate it becomes a public record.

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Under some circumstances, yes.

Consider this: your great-uncle has exactly $1000 to his name. He dies and leaves all his money to you in his will. He also has a credit card, on which he owes $1000. The bank is legally entitled to take the $1000 to pay off his debt, even though he left it to you.

The debts of the estate must be settled before any bequests can be disbursed.

You should consult with an attorney about filing a petition with the court to compel an accounting. A trustee's actions are governed by law and one of a trustee's responsibilities is to provide an accounting. A trustee who misbehaves is personally liable for any damages or waste of trust assets. However, you have waited a long time and there may be a statute of limitations in effect. You may have a valid claim against the trustee and may be able to sue them personally but you must consult with an attorney ASAP.

Representatives may become inattentive to the wishes and opinions of their constituents.

You need to review the provisions of the trust to determine if the trust allows a "beneficiary buy-out".

Anyone can be left out of a will, except a spouse in most jurisdictions. In the case of a child: a minor child cannot be disinherited; an adult child must be disinherited properly in the will in some jurisdictions or they may have the right to claim a share of the estate. State laws vary so a will should always be drafted by an attorney who specializes in probate law in your jurisdiction.

The executor needs the original so it can be presented to the probate court for examination. If the court allows the will and proves it is the last will of the testator, it will appoint the executor. Only then will the executor have any legal authority to settle the estate. You should consult with an attorney who specializes in probate law.

The will must be submitted to the probate court to be proved and allowed. At the same time you petition to be appointed the executor. Once the court has allowed the will and appointed you as the executor it will issue Letters Testamentary in your name. You will have the authority to settle the estate according to the provisions in the will, the laws of intestacy and the laws governing probate in your state. You should consult with an attorney who specializes in probate who can guide you through the process. The actions of an executor are controlled by statute and there may be personal liability if the executor fails to follow statutory law. Most people need the expert advice of an attorney to carry out their responsibilities according to law and avoid any personal liability.

An irrevocable resignation implies that the one who resigns cannot change his or her mind about the decision.