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Probate
Probate is the process and the type of court that handles the evaluation of an estate. This includes the inventory and the subsequent liquidation through settling debts and the transfer of property.
2,421 Questions
Who receives your deceased parents house if they left no will?
It will be handled in accordance with the state's intestacy laws.
You can certainly request that it be your share of the estate. There is no specific right to the property.
Michigan's decedents heir entitlement law?
You can read the Michigan law regarding intestate distribution at the link below.
My father's estate has been settled and now a large bill has arrived. Am I responsible for it?
First of all, a lot depends on the state and jurisdiction. Generally, though, if the estate was duly probated and notice was published there was a period during which a creditor could make a claim, otherwise a claim by the creditor is barred. In such legal matters however, it is always a good idea to consult with the attorney who handled the estate.
How does executor become administrator?
An Executor and an Administrator are two very different types of estate representatives.
An Executor is appointed by the probate court to settle the estate of a person who died testate or with a will. An Administrator is appointed by the probate court to settle the estate of a decedent who died without a will or intestate.
Someone who has been named as an Executor in a will must file the will with the probate court with a petition that the will be allowed and the Executor be appointed. The court will review the will to make certain it is technically valid under state laws and if there are no objections it will appoint the Executor. The Executor will be given the authority to settle the estate under the supervision of the probate court.
In the case of no will, some qualified person must petition the probate court to be appointed the Administrator. If there are no objections the court will appoint the Administrator and that person will have the authority to settle the estate under the supervision of the probate court.
In some cases and in some jurisdictions should the executor die or leave some tasks unfinished the court will appoint a successor to complete the settling of the estate. That person is called an Administrator with the will annexed or an Administrator de bonis non.
Is executor's fee in New Jersey before the settlement of claims against the estate or after?
It is a debt against the estate. It cannot be resolved once the estate is closed. The executor must have the courts permission to collect their bill.
How does property transfer after an administrator is appointed?
The Administrator must petition the court for a license to sell the real estate if the real estate is to be sold. If the heirs at law will be keeping the property the probate proceeding is a public record and it documents the transfer of the property to the heirs. You don't need to do anything else. When the heirs decide to sell the property they can execute a deed with their names as grantors and cite the probate case as their source of title.
Can the beneficiaries determine the Executor compensation?
No. That is generally determined by state law in the probate code.
First, the Durable Power of Attorney was extinguished when the principal died. You can no longer use it. The authority to handle the estate assets is in the executor.
If no beneficiary was named on the life insurance policy then the proceeds will be made payable "To the estate of Jane Smith". In that case the proceeds are part of the estate. The appointed executor would have the authority to cash the check and pay the funeral expenses.
Can an inherited property be sold without changing name?
While the property is in probate, there should be no problem. It happens all the time. All I needed was the death certificate and articles of administration.
How do you become bonded in ontario?
To become bonded in Ontario one should first find a bonding company. Fill out the forms, go through the background checks and other hurdles and hopefully you will be bonded.
Does a federal tort claim settlement go into probate when the veteran passes away?
It would be a part of the veteran's estate. The estate will go through probate.
The executor should be reported to the court that made the appointment. The executor should be removed for a breach of their fiduciary duty. The court can appoint a successor trustee.
Does Florida require a will to go to probate?
In Florida a will must go through probate. That makes sure all of the legal requirements are met and taxes paid.
Do you need a letter testamentary in Texas if you have a will?
It depends on the type of trust. Letters testamentary are issued to the executor of a testate estate who has been appointed by the probate court. If the trust is set forth in a will then it is a testamentary trust and the will must be probated in order for the trust to become operative.
Non testamentary trusts are managed by trustees according to the provisions set forth in the trust.
A joint account passes to the surviving account owner if the co-owner has died.
If a person who has executed a POA is a joint owner of an account, their attorney-in-fact can access that account, or any account, on behalf of the principal while the principal is living unless the principal excluded authority over that account from the POA. Any attorney-in-fact stands in for the principal in such matters as banking when the principal has requested that they do so.
A co-owner has free access to any joint accounts they own.
What are the requirements to Bond as an Executor?
It depends on the state. Not all states require an executor to post a bond and bond amounts vary by states. In any case, the bond is meant to serve as protection against fraud or embezzlement by an executor.
Can irrational behavior be grounds for dismissing an Executor?
You must express your complaint to the court that made the initial appointment, and provide examples of the irrational behavior. The court will review the matter and render a decision.
How can you refuse an inheritance?
Simply refuse to accept it. The inheritance will be divided up among the remaining heirs.
If they refuse to accept payment, the amount is then spread out amongst the other beneficiaries. If the court accepts the distributions, the estate can be closed.
Are all heirs responsible for taking care of property?
Normally yes all heirs are responsiably, unless one of them is appointed the executor the estate.
