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Estates

Estates are the assets and liabilities of a deceased person, including land, personal belongings and debts.

6,325 Questions

Taxes on insurance payout?

Depends on the type of insurance and what the payout is for. Life insurance is generally not taxable. Other types may well be. If for a casualty loss it would not be only if it is equal or tless than your actual loss AND you did not claim the casulaty loss as a deduction.

Who is next of kin to deceased grandmother with living brother deceased son and living grandchildren?

Generally, the grandchildren would be the next of kin. You can check state laws of intestacy at the related question below.

I cosign for my daughter house can I sign her tax return?

You would need a power of attorney to sign her tax return for her. If your daughter is incapable of signing for herself then you should have a durable power of attorney drafted. If she is not competent then you would need to be appointed her guardian. You should seek the advice of an attorney to discuss your options.

What rights do biological children have in the estate of a deceased parent?

Biological and legally adopted children generally have the same rights in their parent's estate if their parent dies intestate, or, without a will. Children do not inherit an interest in property that was held jointly with a surviving spouse. However, they may inherit an interest in property held solely by the decedent. You can check the laws of intestacy in your state in the related question below.

As executor can you deduct personal expenses to administer an estate from your personal taxes?

Not if they are reimbursed from the estate. If not, they may be eligible to be credited against the inheritance income.

If a person dies with no beneficiary listed on their insurance policy who does the money go to?

The money would go into their estate and would pass according to their will. If there is no will the money would pass as intestate property according to the laws of intestacy where the estate is probated.

When could male and female siblings inherit property equally in the US?

That equal treatment didn't happen all at once. In England the eldest son inherited. That system is called primogeniture and it never became widely used in Colonial America. However, there were different systems used in different colonies. By the 1600s most of the New England colonies and Pennsylvania allowed the children to share intestate property. In certain areas the oldest son received a double share. Southern colonies continued to favor the British intestacy rules. Thomas Jefferson railed against primogeniture and led the fight to remove it from the American scene altogether. After the Revolutionary War inheritance shared equally by siblings spread to all the states and the double share to the eldest son disappeared. (Louisiana intestacy law is unique in that it is based on French Law.) A wife did not become an heir of her husband until the twentieth century in some states.

My grandmother made a will to put the house in my name.after her death my dad who was on the original deed switched the deed to his name and my moms name along with my uncle and his wife.what stands?

If your grandmother was the SOLE owner of the property when she died then she was able to devise the property to you in her will. If that is the case then her will would need to be probated in order for the title to the property to pass to you and your father's deed to himself and others would be null and void. However, you said that your father was on the original deed. If your father's name was on the deed to the property as the sole owner then he owned the property and your grandmother couldn't devise it to you in her will. In that case the gift to you in the will would be null and void. You can verify who was the last legal owner by deed by checking the records at your local land records office. You need to check your father's name in the "grantee" index to determine if there is a deed to him dated before your grandmother's death. You may find that your grandmother conveyed her property to your father by signing a deed. For any further questions or to add details please use the discussion page.

What is the wording for quit claim deed for living trust?

The grantee should be recited as, " . . . to William Edward as trustee of the Eagle's Nest Revocable Trust as set forth in a Declaration of Trust Dated November 11, 2008". See also the related question below.

What is conjugal property?

Any property acquired during marriage

If mother dies and does not have a will who has the rights to whatever is in the house?

Inheritance laws vary from state to state and depend upon the value of the property. In general, the surviving spouse and children inherit. You should talk to a lawyer or the Office of the Register of Wills for your region for more information.

Is it possible to cash a check payable to the estate of?

You cannot cash such a check unless you have been duly appointed by the court as the Executor or Administrator of the estate.

Can the spouse of a person who dies finish paying for the property?

If there has been a change in ownership the bank should be notified. They will need to make some changes in the account and will want proof of death and proof that the title to the property passed to the surviving spouse. In this economic climate the bank should be satisfied to allow you to take over the mortgage. You may want to speak with a local attorney who specializes in real estate transactions. She/he may be able to facilitate the negotiation with the bank for you.

Can a spouse contest the will?

That depends on the reason for the objection. A spouse may contest the will for objections regarding the validity of the will. When a spouse is disinherited or would receive a larger portion under the laws that govern intestate estates, that spouse can usually file a claim with the judge for an intestate share depending on the laws in your jurisdiction.

What happens if the person granted power of attorney as well as executor dies before the grantee?

If the person granted power of attorney and executor dies before the grantee, then the power of attorney is terminated, and the grantee would not be able to rely on the power of attorney anymore. The executor's role would typically be carried out by an alternate executor named in the will, or the court may appoint a new executor if there is no alternate named. It is important to regularly review and update estate planning documents to ensure contingency plans are in place.

Could a wife contest her husband life insurance benefits claim because she not name the beneficiary?

If there was a Will made by the husband..and in that Will the husband left out the wife..then this matter would stay as is..and the wife will have to find other avenues to convince a judge by contesting the Will.If no Will is present,then this matter is dealt under the intestacy rules,and usually a probate,and the wife will have to prove her right to the Court. Life insurance alongwith all other estate matters are usually dealt within the Will in question..unless specific instructions in the Will have been left ,seperating the Life Insurance benefits from the Will. Take advice from a local lawyer.

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