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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
What fee can an executor of an estate in charge in Utah?
From LegalZoom.com
Uniform Probate Code States
Some states have adopted the Uniform Probate Code, including the section on how to compensate the executor of a will. In these states, no specific amount or fee is set by law. Instead, the probate code gives the probate court the discretion to determine what percentage to pay the executor, as long as that amount is "reasonable." The burden is placed on the executor to demonstrate that the monetary percentage she wants is reasonable and will not unduly deprive any of the estate's beneficiaries. As of 2011, the states that had adopted the Uniform Probate Code were Alaska, Arizona, Colorado, Hawaii, Idaho, Maine, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Jersey, New Mexico, North Dakota, Pennsylvania, South Carolina, South Dakota, Utah and Wisconsin.
Only the decedent's credit record will be affected if they were the only person who signed the mortgage. However, if the mortgage isn't paid the lender will take possession of the property by foreclosure.
In the UK: No. If you are confident no claims will be made against the estate and or you have waited the statutory period before distribution then you can make an interim distribution. It is wise to hold some funds back however in case the house does not sell for a long period of time and estate funds are needed for repairs
The debt is owed to the estate. The executor has a duty to collect it. The money can be credited toward her share of the estate if there is enough to cover it.
What does under a living trust agreement dated 2005 as amended mean?
It means the person who took some action did so as the trustee of a trust and that the terms of the trust have been amended.
How does removing an executor make negative strikes on estate?
It doesn't. Executors need replacing for many reasons and there is no negative effect on the estate.
Is the estate administrator responsible for home ins?
Yes. The administrator is responsible for all the property in the estate until the estate has been distributed and closed. If there is real property included in the estate the administrator's duty would include maintaining insurance on the premises until title has been legally transferred to the heirs.
Yes. The administrator is responsible for all the property in the estate until the estate has been distributed and closed. If there is real property included in the estate the administrator's duty would include maintaining insurance on the premises until title has been legally transferred to the heirs.
Yes. The administrator is responsible for all the property in the estate until the estate has been distributed and closed. If there is real property included in the estate the administrator's duty would include maintaining insurance on the premises until title has been legally transferred to the heirs.
Yes. The administrator is responsible for all the property in the estate until the estate has been distributed and closed. If there is real property included in the estate the administrator's duty would include maintaining insurance on the premises until title has been legally transferred to the heirs.
Yes, but generally, the Administrator needs to request a license to sell the real estate from the court in order to be able to execute a valid deed.
When an estate case is closed by probate is the will still in effect?
An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.
An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.
An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.
An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.
What would happen to my bank accounts if I died?
The answer depends on what arrangements you make for the distribution upon your death.
- You can visit the bank(s) and arrange to designate a person or persons to receive the balance in the accounts upon your death. That way, the funds will pass automatically to the person(s) you have named.
- You can add someone you trust, and who you want to receive the funds upon your death, as a joint owner of the accounts. The joint owner will have access to the accounts during your life and become the sole owner upon your death.
- You can write a Last Will and Testament that leaves your accounts to the person(s) you have chosen to receive them. They will receive the balance of the funds after any debts have been paid.
- If you do nothing your heirs will need to probate your estate and after the payment of your debts the state will distribute your money according to the laws of intestacy.
- Lastly, if no one knows of your accounts and therefore no one claims them, after a statutory period, usually seven years, the accounts will be paid over to the state.
The title to property in a trust is in the name of the trustee. Only the trustee has the authority to sell the trust property. A sale by one of the beneficiaries would be void since the beneficiaries do not have title to the property. If the property is real estate, a deed from one of the beneficiaries would not convey the property and would not be acceptable to the buyer. The deed must be executed by the trustee as set forth in the trust instrument.
How do you become administrator of estate in Oregon?
You apply to the probate court. They will issue a letter of authority. The forms may be available online or at the court house.
They would have to convince the court that it is reasonable. If the executor is from a long way away, small amounts might be okay. The dispensation of the estate has to be cleared by the court. Typically the court will place the executor ahead of other debtors.
Can a mother's will be contested be her estranged son if he has been left out of it?
You may contest it, but you need to be able to prove that the final will was in some way fraudulent, or that she was not of sound mind, or was being manipulated in writing the will that left him out.
You cannot simply contest a will because you got left out of it. You have no inherent right to your parents property if they say otherwise.
If a will is in probate can assets of estate be divided?
There is a statutory scheme for settling and distributing an estate. First an executor or administrator must be appointed by the court. Then the estate representative must settle the estate according to the terms of the will and the state laws of intestacy under the supervision of the court. The debts of the estate must be paid before the assets can be distributed. If property is distributed before debts are paid the estate representative can be held personally liable. They should consult with an attorney who can guide them through the probate process.
Small personal items could probably be distributed once the estate representative has been appointed by the court. Cash, investments and real property must wait until the statutory period for creditor claims has passed and any costs of administration, legal fees, funeral costs and taxes have been paid.
No. First, a will doesn't become effective until after the death of the testator. Second, only the property owned by the testator at the time of death becomes part of the estate. If they gave away their property during life, that property is gone and whoever received the gift during the life of the testator is the rightful owner. Remember that a person can do what they want with their own property while they are alive and a will only distributes any property owned at death.
During the caveat does executor have power to act?
In the UK:
The caveat stops the probate court from issuing probate, generally speaking the caveat is in place to prevent the estate from being distributed. Of course whilst the caveat is in place the estate could not be collected. However there is much work to be done prior to the submission of the probate application, for example if there was a property the executor would still be responsible for ensuring the property was maintained correctly, insurance would still need to be in place, utilities would need to be contacted. In addition the liquid assets would still not be collated. There is still lots to be done even though the caveat is in place. Of course eventually the executor would reach a point where they could go no further.
However, the filing of a caveat holds the appointment or grant of probate in abeyance until the issue of the caveat is settled. Therefore the executor does not have the legal "power" or authority to act in place of the person who has died until Letters Testamentary have been issued.
Does majority overrule an executor?
No, but they can petition the courts to have him [or her] replaced.
What if an heir doesn't want any part of the property proceeds?
They can decline it. It will be distributed across the other heirs.
What rights do you have to your fathers estate in Texas when there is no will and he has remarried?
The community property will be split in half, half for his spouse and the other half for his children. The separate property, if any, will go to the children, with 1/3rd going to the spouse. And the spouse will have a life estate in 1/3rd of all real property with the remainder to the children.
What is a probate certificate?
A probate certificate most likely refers to the documents that a probate court issues to the executor that certifies that the will has been probated and that the particular person is the executor. The purpose of the certificate is to prove to financial institutions that the will has been probated and that the person named executor in the will is the actual executor and has the right to handle the estate. These documents are referred to as Letters Testamentary and usually the court will issue as many copies as the executor needs to handle the estate.
The answer to this question depends on the facts in issue. Who are the parties in the right of survivorship deed? Who is making the claim? "Right of survivorship" is a concept that allows one shared owner to take total ownership of a property upon the death of the other owner without having to deal with the decedent's estate (probate). Think of the traditional married couple. When one partner died, the other assumed total ownership automatically. The property does not become part of the deceased spouses estate, and therefore would not have to go through the probate process. Dad dies, Mom gets to stay in the house, now it's "Mom's House." Another important point that one needs to understand is the extent of the ownership. So long as both parties are alive, each party is entitled to what's called a "life estate." That is, your possessory interest only lasts while you are alive. Once you die, your interest dies with you. If there is only one remaining owner, that person's life estate converts into a "fee simple," and that person can now devise the property. Another feature of the "right of survivorship" concept concerns alienability, or the ability to "alienate" (sell) the property without the consent of the other party. Simply put, you can't. You first have to destroy the right of survivorship, and then you can sell your resulting share. In this case, if the surviving spouse does not already have an ownership interest (that is, they're not already on the deed - they're a third party), they cannot acquire the decedent's ownership (possessory interest) in the property. That interest / ownership ended when the spouse died. This information is not intended as legal advice, but more as a primer on the concept. If you are facing a challenge to your property, or you are interested in finding out what your rights are regarding property, you should consult with an attorney who knows the specifics of the laws in your jurisdiction.
Either renounce or administer the estate or pay a professional to deal with the matter and the fees would be met from the estate. It is up to the executor to decide.
If the exector decides to administer the estate, he or she can be paid a fee (amount varies by state and county). The executor is not a beneficiary and the beneficiary is not the executor. The beneficiaries really have no say as to what the executor should do (i.e., adminster estate, hire attorney to represent estate, or renounce). The executor has a sworn duty to administer the estate in accordance with the deceased's will and the laws of the state and county of probate.
yes
Business is assigned to the Chancery division by the Supreme court and the County court has jurisdiction where the estate does not exceed thirty thousand pounds "Contentious probate" is a legal term used in the UK when there is a dispute involving an inheritance. There are law firms that specialize in "contentious probate" cases both through mediation and through litigation. For an example of contentious probate see the link provided below.
