How long after probate to pay beneficiaries?
Depending on your state, there may or may not be a time limit for administering the estate. Generally speaking, the executor can take as long as they need to handle the estate. However, if the beneficiaries feel that the executor is taking an excessive amount of time, they can apply to the court for resolution of the matter.
What if the deed doesn't say joint tenants or tenants in common?
In the UK:
You need to look for the phrase, "RESTRICTION: No disposition by a sole proprietor of the registered estate . . . ." This will appear under the sub heading Title Absolute which can be found under the main heading "Proprietorship Register". If this phrase is missing then it will be jointly owned
If the words "tenants in common" do not appear it is presumed to be a joint tenant arrangement.
In the US
Generally, the default tenancy (when no tenancy is recited) is tenancy in common. However, there are many variations from state to state. The default tenancy for married grantees is joint tenancy in some states. In my state the tenancy will be considered a tenancy in common in any deed if no tenancy is recited. You need to check your state laws.
How do you become a administrator of estate in Alabama?
In Alabama, pick up a set of probate instructions at your local courthouse, or they may be available on line. Then follow the instructions and file the appropriate forms with the court and they will issue a letter of authority.
How long can a person keep from probating a will?
The will should be filed for probate promptly. If the person in possession of the will won't file it then other family members should notify them that they will file for an Administration in one week. If the will isn't produced then a Petition for Administration should be filed and the estate will be distributed according to the laws of intestacy. If the person is holding on to the will to obstruct the wishes of the testator then someone should file a complaint against them so they will be required to appear before a judge to explain their actions.
How does estate administrator contact heirs?
Service of process can be through registered mail or even first class mail. Phone calls are acceptable, but still require written confirmation. The court will required signed documents showing that everyone has been contacted.
They can't claim to be the executor, they have to be appointed by the court, otherwise they have no legal standing to do anything with the estate. And you have the right to object to their being appointed executor.
Who is usually appointed executor of a will?
The will normally names an alternate executor who would take over if the first executor dies or declines the appointment. The alternate executor would petition the probate court for appointment. In the event there is no alternate named, or if that alternate does not want to or cannot be appointed, then one of the residuary legatees under the will may petition for appointment as "administrator cum testamento annexo" or "administrator with the will annexed". All of the residuary legatees have the right to be appointed, so they will all have to agree on a successor.
No will shall fail as a results of the executor not being available. The court will appoint an attorney (at attorney rates!) or a bank to be the executor if no other interested person is available.
The court should be notified of the additional heirs by filing an amended petition for administration ASAP. That will delay the probating of the estate because the newly added heirs at law will need to be notified of the probate proceeding.
What are the rules and regulations for probate of wills in barbados?
You can read a brief description of probate law in Barbados at the related link below.
What is a schedule of assets for probate?
It is a listing of all items in the estate. One of the primary duties of the executor is to inventory the estate. They also have to have the estate valued.
How can you get the forms to petition the New Jersey Superior Court to remove an executor of a Will?
Call or visit the court where the Will was filed. You can obtain the proper form for filing, fill it out and sign it, and then file it with the court for a hearing.
Is a life estate owner responsible for paying land taxes on it?
Typically the beneficiary of the life estate will be liable to pay the taxes on it and you can read more about this when you click which has been added for you below this answer.
Can you use your deceased mother's bank account?
Not unless you were also named as a joint owner of the account. If you and your mother had a joint account the full ownership passed to you upon her death. If the account was your mother's sole account you would need to forge her name to make any withdrawals. That is not legal. The account is part of her estate.
What can you do if the executor won't settle my moms estate?
Usually there are steps to be followed before the estate is finally settled. Depending on the state, there is an ending date, which might be a year later. There is also an extended period of time for bills to be presented to the estate for payment. The thing to do is to wait, offer any help or documentation if you have it, and wait some more until the estate is settled. Becoming an issue with the executor certainly will not speed things up.
What is the purpose of probate law?
Probate is the official administration of your affairs upon death. The process varies state by state.The purpose is to ensure your wishes outlined in your last will and testament are accomplished, assets are appropriately distributed, and taxes and creditors are paid. The process varies state by state, but generally requires that you either fill out forms or appear in court to:
Yes, the bank accounts are a part of the estate. The need to be valued and included in the assets.
What are the only 3 ways property can be transferred?
Three ways I can think of are: 1. conveyance 2. inheritance 3. taking Property can also be transferred by court decree for various actions at law. (4)
This is not a good time to sell a house Why?
There are many factors that make this period of time unfriendly to sellers in many, if not most, areas of the country.
Home values are decreasing. Remember that the housing bubble was an unrealistic fluke. Prices for homes could not continue to go up forever. The market crashed.
Banks are not making many new mortgage loans.
Hundreds of thousands, millions, of people have lost their jobs taking them out of the buyers market.
Hundreds of thousands more are worried about losing their jobs taking them out of the buyers market.
Substantial increases in the cost of living for necessities of life such as healthcare, insurance, taxes, energy costs, food, etc., have impoverished many lower middle class families taking them out of the buyers market.
Those same high costs have made it impossible for young people to save a down payment or even afford a small house taking them out of the buyers market.
There is a glut of foreclosed properties and that has deflated the value of existing homes.
Do you have to tell a person the they are no longer the executor of a will?
No, but if you are naming someone else it certainly would help both parties to be informed in the event of your demise. Sorting out a person's affairs is difficult enough without having to cope with a power struggle.
If a will mentions a trust that was never set up is the will valid?
Wills signed by the deceased and witnessed are always valid. Often the elderly may change their minds, but never change their Wills, so the last Will and Testament is the final word. Whatever is in that Will is the way it will be played out. Marcy ==Clarification== If a Will directs that certain property be placed in a trust and the trust was never created the property would remain in the testators estate. The failure to create the trust may result in that property passing as intestate property. The Will is still valid as to any other bequeasts. The property that was to go to the trust would pass according to the residuary clause in the will if there is one. If there is no provision in the Will for property not specifically mentioned then it would be divided equally among the legal heirs as intestate property. Please note that in reality, many, many wills are so poorly written that a judge must make a decision as to the distribution of the property of the decedent. Therefore, the judge has the "final word" by deciding if the will is valid and then by interpreting it if the will was poorly drafted.
You should call the court that issued the check and ask the clerk how to solve your problem.
Are executors allowed to take money from estate?
The Executor can withhold money from heirs for a "reasonable" time in order to pay all debts and expenses of the Estate and to make sure that the claim period has elapsed and all tax returns have been filed. Once the claim period has passed and all debts, taxes and expenses have been paid, the Executor can satisfy all specific bequests and then distribute the residue to the proper beneficiaries. Any outstanding claims or tax liabilities could delay this payment (i.e. challenge of a claim or an audit of a tax return). This is a very general overview and is not meant to be legal advice, as you need to consult your attorney about your specific facts and situation.
Your details are all mixed up. An executor handles the estate of a person who has died. Heirs are the individuals who are entitled to inherit the property of a person who has died. A Power of Attorney allows one person to act on behalf of another LIVING person. A trustee is the person with the power to act for a trust. Any fiduciary has the responsibility of not wasting any assets.
If father died with estate of Ira's what debt is paid by estate?
The estate has to pay off all of the debts if possible, using the IRAs if they can. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
If the executor is a relative are they entitled to the executor fee?
The executor is entitled to a fee for their services. Their relationship is not a deciding factor. In many states the fee is set by law.