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Wills
A will is a legal statement detailing the transfer of property and belongings when a person dies.
740 Questions
There is no such law. The executor has the power, from the court, to settle the estate.
Does an executor have full control of how the estate is divided if there is no will?
The executor has no control over how the estate is divided. Each state has laws on how the property is divided when there is no will.
Can your daughter-in-law contest your will if you have left her out -your son is deceased?
Anyone can contest a will if they can find a lawyer willing to take the case. Whether they will succeed or not is another matter.
Consult an attorney familiar with the laws on wills and estates in the place where you live. Never rely on what is said in a place like Wiki Answers for critical information.
It will depend on the complexity of the estate. There is no time limit on the execution of the estate.
What happens if the executor listed in the will can not be found?
The court will appoint an executor. That is often an attorney or a bank.
What does 'financial support' and 'maintenance' mean in a trust document?
It means someone who gives help in terms of finace surport.
How much does it cost to put a caveat on a will?
If you add it yourself (good idea to have it witnessed) it costs nothing. If you have an attorney prepare it they may charge you a one-time fee OR, if your attorney also happens to be the wills trustee, they may do it gratis as a service.
That would be based on the laws of intestacy. They vary from state to state and country to country.
How many wills by a person are valid?
A person can only have one single valid will at any moment.
If more than one will is presented after their death, only one of them will prevail.
How can an executor remove a squatting sibling in ny state?
The same way anyone is removed. They file an eviction notice with the court.
How should an estate be divided in a family?
Wills are often a source of contention amongst the beneficiaries. However, there are many reasons the gifts may be unequal and there is no set rule since property division by a will is the prerogative of the testator and it can be affected by many factors such as:
- One child may have been more helpful to a parent and after death the parent wants to reward that child.
- One child may be more fortunate in their life through their superior abilities, career opportunities or marriage and they may not need as much as another child.
- One child may have been given more during the life of the decedent.
- One child may have been more of a problem during the parent's life and their behavior has resulted in less of an inheritance.
If a parent dies without a will their property will be distributed according the the state laws of intestacy. You can check the laws in your state at the related question link.
Does executor of father's will make arrangements for mentally ill sister?
In such cases there will normally be a guardian named in the will. They will take care of the individual. If there is not one, the court will appoint someone to serve in that position.
Can you be prosecuted for spending money from a trust fund?
Yes, you could be prosecuted. It is a crime to breach the fiduciary duty of a trustee.
How does an executor of an estate notify creditors?
They advertise in local papers. They also have to directly contact any known individuals that might have a claim against the estate.
Does a son in law inherit wife's share if she dies before parent?
That will depend on the wording of the will. Their children are more likely to inherit if there are any.
What if executor says there is nothing left in a trust fund?
Then there are no further assets to be distributed. The trust fund is a finite size and once it is gone the trust is closed.
The trustee should be required to file an account every year that can be reviewed by the beneficiaries of the trust. They have an interest in both the trust property and that the trustee not waste, misuse or steal any of the trust assets. If the trustee is being secretive then the trust should be reviewed for any provision that address the removal of the trustee and the appointment of a successor. If there are no such provisions IN the trust document, a petition should be brought to a court of equity. A judge can appoint a new trustee. Any trustee who refuses to be accountable to the beneficiaries is not "trustworthy".
What can you do with an uncashed check from a closed bank that is an inheritance?
In theory, the estate's account cannot be "closed" until all assets are distributed, even though it may take years to track down beneficiaries and deliver the checks. Because the value is still "in the estate", the check on the closed bank should be exchanged for a valid one on another estate account, perhaps opened for the specific purpose of the final disposition. The executor/administrator may be personally liable for the amount of the check if the estate can't seem to find it.
Is a Will void if a wrong address of an executor is on it?
The address will not invalidate the will. The court will look to the intent of the document.
Does a living spouse automatically inherit executor duties?
It is not an automatic thing. They have to apply to the court just like anyone else does. It is common for the court to make such an appointment.
Being the executor does not make you personally responsible. The estate has to pay any debts. If the estate cannot pay them, the debtors do not get paid.
Report the theft to the police. It is a crime to take and sell things that do not belong to you.
Does a Last Will and Testament have to be recorded document with the County?
A Will doesn't need to be filed during the life of the testator. However and generally, after the death of the testator the Will has no power until it is presented to the probate court for allowance and appointment of the executor. If the decedent left any property at the time of death the Will must be probated in order for the property to pass to the heirs.
