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Estates
Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.
6,325 Questions
You need to review the terms of the trust. The instrument that created the trust sets forth all the powers of the trustee. You need to determine if the trustee has the power to loan money from the funds held in trust.
Once an estate is filed in probate it becomes a public record. If your father died owning any property then his estate must be probated. If he owned real property in another county or state you can check the probate court in that jurisdiction to see if a probate has been filed.
Unfortunately there is no way for you to access your father's estate until it is filed in probate court. You could do some detective work on your own to determine if your father owned real estate when he died by checking the records in the land records office for any acquisitions of land by your father. Also, you could hire an attorney or private detective who specializes in such matters to do some snooping for you.
How do you change beneficiaries in your living trust?
Return to the attorney who drafted the trust to make certain it's properly done. Trust law is extremely complex. Trusts should always be drafted by an attorney who specializes in trust and tax law. Errors made by non-professionals can be costly to correct and can result in the trust being judged invalid and the property being vulnerable to creditors and probate.
Does a son named as beneficiary become executor if the deceased died intestate?
You have conflicting legal terms in your question.
- An executor is appointed when the decedent left a will.
- Intestate means that the decedent died without a will. If the son was the "named beneficiary" as you stated then there must be a will.
- The son can petition the court to be appointed the executor of the will.
- If there is no will some qualified person must petition the probate court to be appointed the Administrator of the estate. The son would be a qualified person.
Must an unwritten debt to deceased parents be paid by a daughter to the estate in irrevocable trust?
In reality, if there is no written proof of the debt, the estate cannot collect.
Must an unwritten debt be paid to the estate in irrevocable trust?
That depends on some details, the nature of the debt and your own moral compass.
If the money was loaned to you and purposely not expressed in a written promissory note the argument could be mede that the decedent didn't expect to be repaid in the case of death. However, if the decedent was in the habit of making loans, not putting them in writing and yet expecting to be repaid, and other family members were aware of the loan made to you, then not paying the loan back may cause a family rift.
You cannot be forced to repay a loan for which there is no written evidence. Since you know the family situation and whether not repaying the loan will affect your relationship with other family members, it is up to you to decide.
What are personal effects of a deceased person?
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What happens if sole beneficiary dies before estate is settled?
If the beneficiary died after the testator you must review the will to make certain there is no set time period the beneficiary must survive the testator. If there is no such provision then the gift becomes part of the beneficiary's estate.
You need to discuss this situation with an attorney who can review all its aspects including the farm income, your needs and your father's needs. She/he can then discuss the options and consequences regarding your father's plan. You should look for an attorney who specializes in business law and also estate planning.
Is it illegal to hide a will lie and say there was no will after the death of a relative?
Yes. Anyone who has custody of a will must deliver it to someone who can file the will for probate or to the appropriate court. A person who willfully hides a will is liable for any damages caused by their failure to hand over the will. State laws govern this issue. An example of the law in Massachusetts is as follows:
Chapter 190B: Section 2-516. Duty of custodian of will; liability
[ Text of section added by 2008, 521, Sec. 9 effective July 1, 2011. See 2008, 521, Sec. 44.]
Section 2-516. Section 2-516. [Duty of Custodian of Will; Liability.]
After the death of a testator a person having custody of a will of the testator shall deliver it within thirty days after notice of the death to a person able to secure its probate and if none is known, to an appropriate court. A person who willfully fails to deliver a will is liable to any person aggrieved for any damages that may be sustained by the failure. A person who willfully refuses or fails to deliver a will after being ordered by the court in a proceeding brought for the purpose of compelling delivery is subject to penalty for contempt of court.
How do you remove executor from your will?
You can make changes to your will by executing a Codicil in the same form as the will, carefully explaining what section you want to strike out and carefully stating what you want to add. You can also execute a whole new will and destroy the old one at any time.
You cannot charge for your services unless you have made that agreement with your other siblings.
If you are the one going through your mother's belongings, sorting everything out, discarding non-savables and packing up things to distribute to your siblings they should pay you because that is a big job. However, you really must have a written agreement that sets forth exactly what you will do and how much you will charge. Everyone needs to sign it. You can't just present them with a bill after you're finished.
An executor is paid for their services. If you perform this big job on your own, you should be paid by your siblings. You should be able to make a reasonable agreement together.
There should be a provision in the trust for the appointment of a successor trustee. A trust cannot act, it needs a trustee (think human being) to act for it. The new trustee can apply for the mortgage. The bank will want to review the trust to make certain that the trust is valid and the title to the real property is in the trust.
For example, the mortgagor would be Kathryn Stewart, as trustee of the Norwattuck Mountain Trust. Any real property conveyed to the trust should be conveyed to the trustee as stated above.
If someone dies does their spouse inherit everything if they have been separated for over 30 years?
In most jurisdictions, if a couple is legally married, the surviving spouse typically retains inheritance rights, regardless of how long they have been separated. However, the specifics can vary based on local laws and whether there was a formal divorce. If no divorce occurred, the spouse may still inherit, but any specific arrangements made in a will or other estate planning documents could override this. It’s essential to consult legal advice to understand the implications based on individual circumstances and local laws.
Life insurance with a beneficiary is completely separate from the "estate".
If you receive life insurance, it's your. The estate includes bank accounts, homes, cars, etc. not the life insurance
Husband passed away on natural causes what is the wife entitle to?
In this state it does not matter why the husband passed away, the wife is entitled to the same thing provided she did not murder him. If there is a will, it receives first priority. If he died without a will, and there are no children, she gets it all. If there is one child, each gets half. If there are two, each gets one third. If there are more than two children, she gets 1/3 and the children split the rest.
What became of Barbara Stanwycks Estate?
The vast bulk of it went to nieces, nephews, grand nieces and grand nephews. Anthony Dion Fay received only $5,000, according to Victoria Wilson.
Tenancy by the entirety is a form of co-ownership of real property that is reserved for legally married people. In a T by E, when one owner dies the other automatically owns the property and there is no need for probate. A tenancy by the entirety is not a trust.
Oregon is not a community property state. The husband is not an heir of his wife's father. The husband has no rights in or to to the real estate.
What is meant by fractional distribution of an estate?
A fractional interest is a portion of the estate that is less than the whole. For example, if there are four children who are to share equally then each one has a 1/4 fractional interest in the estate.
Is a possibility of reverter a vested interest?
You have asked a very interesting question.
The answer is yes. A reverter clause in a deed is only a possible future interest. The grantee becomes the owner of a fee simple estate. In fact, in order to be enforceable the restraint in the deed must be reasonable. Many reverter clauses are defeated by a court action.
However, keep in mind that property that is subject to a reverter clause may be difficult to mortgage or sell.
