Does the personal representative have to pay attorney fees if there are no funds in the estate?
Generally, that depends on what the person signed when they hired the attorney. An attorney doesn't usually take on a probate in which there are no assets so there must have been assets in the beginning. If the assets are gone as the result of some action on the part of the executor then he/she may be liable for the costs of the probate. The debts of any estate must be paid before any property can be distributed. That includes the attorney's fees.
What does The deceased is survived by his wife and children mean?
It means that the wife and children are still alive, they have 'survived.'
What are my rights as a wife who was separated from her husband and he died?
You are the surviving spouse as long as you weren't divorced. You have all the rights provided by your state laws as the surviving spouse. You can check the laws of your state at the related question link provided below.
If your mother dies and leaves no estate are her children responsible for paying her creditors?
A decedent's estate is responsible for payment of the debts. If there is any property in the estate, the debts must be paid before any property can be distributed to the heirs. If there is no property the creditors are out of luck.
How do you turn your house over to your children?
In Missouri, you can file a Beneficiary Deed that automatically transfers ownership of real property upon the death of the owner. You can always just leave it in your last will or if you want to avoid probate, convey it to a trust and have the trust distribute the property to your children after your death.
You can also convey the property to your children while you are still living. You should consult with an attorney who specializes in estate planning who can review your situation and explain your options.
How can you research accounts of a deceased if you are a beneficiary?
Once appointed by the court, the administrator or the executor has the authority to access any accounts of the decedent. Any other person would need to obtain a court order to access those records. If you think the estate representative is being dishonest you can take your concerns to the court and if necessary the court will appoint a new representative.
How do you handle execution of trusts upon grantors death?
You need to review the document that created the trust to determine how the trust property is to be distributed and how it can be terminated.
Generally, the estate is responsible for paying the debts of the estate and the costs of probate. However, it depends on what you signed when you hired the attorney. You need to review copies of those documents.
If the executor mishandled the estate funds they may be personally liable for any resulting debts.
Why is there a wait on dispersing funds from estate accounts?
State law requires a certain amount of time to wind up an estate and allow for ceditors to make claims.
How do you create a trust fund for a group or commission?
You contact an attorney who specializes in trust law in your jurisdiction. Trust law is one of the most complex areas of law. Many professionals, both attorneys and accountants, will offer to draft a trust. However, an improperly drafted trust will fail and have tax consequences and other consequences. The results can be disastrous. You need to consult an attorney who specializes in trust law and who has a good reputation in your community. It is best to consult one from a firm that specializes in trust law with a long-standing practice.
Yes. The beneficiary named in a testator's will may also be appointed as the testator's attorney-in-fact while the testator is living. The powers of the attorney-in-fact must be set forth in the Power of Attorney document. The power of the attorney-in-fact to transfer the real estate to self may be listed in the POA.
However, if there are other heirs-at-law, the transfer by the attorney-in-fact to self may be vulnerable to challenges upon the death of the testator. The parties should seek the advice of an attorney who specializes in probate who can review the situation and the desires of the testator. Documents could then be properly drafted to carry out the wishes of the testator and make certain that any actions of the attorney-in-fact are not vulnerable to challenges.
No. A will must be signed. It's worth getting it done properly too cos I've heard there've been cases on self-written wills being rejected because of little mistakes! I got mine done through an onlline place that did a home visit....very convenient and they were cheaper than a high-street solicitor! Here's their website if you're interested: www.nationalwillsandtrusts.com/
What if a representative dies in office?
their successor takes their place, if no successor exists, there is a new election. see California Gubernatorial election in 2006
If the account is a joint account with your mother, you and your brother, the surviving joint owners can close the account and share the balance. When the account was opened the three of you should have signed signature cards and all names should be listed as account owners. One or both of you should be able to simply make a withdrawal of the balance and close the account.
Are retirement benefits the same as life ins on an estate?
When a person Dies, they are no longer considered "Retired", They are after death considered "Expired".
Life insurance also is not part of an estate unless there is no named beneficiary. The proceeds of a life insurance policy belong to the beneficiary named on the policy, Not to the deceased nor to the deceased estate.
The executor must be appointed by the court. Once appointed they have the authority and responsibility to do whatever is necessary to settle the estate. That is the purpose of having an executor. If repairs are necessary to maintain the property or to prepare it for sale the executor has the authority to arrange for the repairs.
What is the minimum taxable estate?
It depends on what year it is and whether they decedent has made any taxable gifts during his or her lifetime. Generally, if someone died in 2009, their estate is free of estate tax up to $3.5 million. In 2010, there is currently no estate tax at all, no matter what the size of the estate is. For 2011 and beyond, currently estates are taxable after the first $1 million.
Your brother has no power as the executor until he has been appointed by the court. Once he has been appointed he will have the power to settle the estate according to the provisions in the will and according to the state probate laws under the supervision of the court. If he abuses his power you can complain to the court. If he has mishandled the estate he will be required to pay the missing funds to the other heirs.
You need to consult with an attorney who can review the situation, your needs and the estate and determine what your options are.
How much money can you as a gift before you have to pay taxes?
$13,000 per person per donee. Unlimited amounts to spouses.
Can you file a claim against the death benefits of someones estate if they owe you money?
Private money owed no, since the courts do not recognize common loans. However, if there was a contract or loan agreement you could make a claim upon the estate for payment. Just like many other financial wind ups there is an order of priority - (1) State and Federal Taxes; (2) Courts, Probate and Receiver Fees; (3) Secure Creditors, like mortgage holders; (4) Liens and Judgments; (5) Unsecure Creditors; and (6) Heirs. Lastly, if there is not enough to pay all the Unsecure Creditors you may be focused to accept a discounted amount representing your percentage of debt compared with other debtors. Then again, anything is better then nothing.
What are some valid reasons for recording a lien against real property?
In and of itself a lien is a valid encumbrance on a property because there must be a valid claim to support a lien. Generally, liens are recorded for unpaid taxes, court judgments, contractor's services, mortgages, municipal services, etc.
First, the brother is not the executor until the will has been filed in probate court and he has been appointed by the court as the executor. Until that happens, he has no power or authority over the estate.
Once appointed by the court the executor must settle the estate according to the provisions in the will and the state probate laws under the supervision of the court. If an executor abuses their authority they are subject to sanctions by the court and removal. They can be held personally liable for their mistakes. The executor has no legal power to change anything. The court will always try to carry out the last will and testament of a testator. It will not allow anyone to make changes. Only a judge has that power and only when the will is unclear or cannot be carried out for some reason.
When a will is filed for probate, there is a period during which objections can be made to the appointment of the executor who is named in the will. In this case, the named executor has already displayed outrageous behavior. If the will hasn't been filed for probate yet, someone should file it now and request to be appointed the executor. The named executor's behavior can be reported at that time. If he was appointed by the court already then his behavior should be reported and a new executor should be appointed.
"Executors" that haven't been legally appointed by the probate court are a serious and common problem. They are only self-appointed and have no idea they have a body of law that governs their powers and actions. If he does what he claims then he can face criminal prosecution. Report him ASAP.
Can an irrevocable trust be changed if never funded?
An irrevocable trust generally cannot be changed once it has been established, regardless of whether it has been funded. However, if the trust has not been funded and the trust document includes specific provisions allowing for modifications, or if all beneficiaries consent to the changes, it may be possible to amend the trust. Additionally, some jurisdictions allow for court modifications under certain circumstances. It's essential to consult with a legal professional for guidance specific to your situation.