0
Add your answer:
Earn +20 pts
Does money have to be distrubuted if it is in someone elses name if there is a will?
A Will is the sole wishes of the person that is now deceased. There are different scenarios: Executrix (female) Executor (male) named in the Will is the person that makes sure that the Will is probated. The Will may be left in Trust and they will handle the Will (for a charge of course.) Probate means that all personal and house/property taxes are paid up to date and all creditors are paid. This can take from 8 months to a year. If the Executrix/Executor is a family member they may be mentioned in the Will and not only would they get a certain amount of money (if the deceased requested this) but possibly some material contents of the home if mentioned in the Will as well as a fee for doing the duties of Executor/Executrix. Usually that amount is 1 1/2 - 3 1/2%. It depends on what is either mentioned in the Will or what the Executor/Executrix wants to take out of the Estate. MONIES CANNOT BE DISTRIBUTED until the Probate has been accepted. This is usually done by a lawyer, but, the Executor/Executrix can do it themselves (unless a very complex Will, it's quite easy to Probate and I've done it. It saves a considerable amount of money in lawyers fees.) The Executor/Executrix should be sure the Heirs mentioned in the Will get a copy of the Will. If a sibling or another relative were left out of the Will or they felt they were unjustly treated by not being in the Will they can "Contest the Will" in a court of law. Sometimes the person may win and other times they won't. Often, if this contesting of the Will is by another sibling, the Heirs of the Will will settle out of court because once in court it can take a long while to settle the Estate. If your mother passed away before your father (or vice-versa) the property and monies usually automatically go to the surviving spouse. The deceased parents might specify in their Will that upon their death their children MAY get some money or property or even material items. If your mother or father remarried, the same applies as the above. If both parents passed away usually any monies, property (including a house or other homes or property) are willed to their child or children. If the children were nothing but a source of problems for the parents, the parents can actually leave everything they have to anyone or even leave everything to a church or charity of their choice or even to a loyal friend. Again, whatever the wishes of the deceased were is for a reason and should be followed to the letter unless coercion has occurred such as an elderly person made to change their Will and it's wise at this point to Contest the Will. If you are sure for instance that you are an Heir in the Will, then you can actually take in the Will to any bank and borrow on the amount of money you are getting from the Estate. However, once you have done this and the lawyer has settled the Estate and hands you the check, it's up to you to pay off that debt and the banking institution will expect it. Hope this helps. Marcy
What is Billy Ray Cyrus' parents name?
Billy Ray Cyrus Parents Name is Ron and Ruth Ann.
How did Billie Joe get her name?
his/her parents wanted his/her name to be that
What Are Wiz Khalifas Parents Names?
what are wiz khalifas parents name
What did Katy Perry's parents name her at birth?
Her parents named her Katheryn.
Can the executrix put their name on the deed only if all 8 children are named in the will?
An executrix must carry out the wishes of the deceased. If any of the eight children were excluded by the deceased from inheriting a piece of property she cannot put his or her name on the deed for it.
What can I do about my sister who is executrix of my mother's will and is delaying sale of property?
You could get a lawyer.
What if an executrix rejects an offer on a property jointly owned without knowledge or consent of one heir?
That is the option of the executrix. They don't have to get permission from every heir to manage the estate.
Where do you get your parents will at?
The contents of a Will are your parents' personal and legal business. It is none of a child's business unless the parent shows you the Will, includes you in estate/will planning, or you are named the Executor/Executrix of the Will (this is not a minor child). When the parents die, the Executor/Executrix can contact the parents' Attorney to get a copy of the Will, if it's location is unknown at home.
What is the masculine of the word executrix?
Executrix
Is it legal for executrix to decide who gets tangible personal property even though deceased left a specific letter of division?
The executrix is required to execute the will as written to the best possible extent. Any deviation has to be approved by the court.
What is an executrix?
An executrix is a female executor, in the legal sense.
Spouse is on title of house with his parents my name is not on it?
In that case, you are not an owner of the property.
What can one do when property left to them in a will has disappeared once the executrix became involved?
File a lawsuit against the executrix for mishandling their fiduciary duties. However, you will have to prove you were the rightful beneficiary. First, however, get a copy of the will from your local Probate Court and be sure of its' provisions.
How do we get real estate out of our deceased grandmother's name when the executrix - her daughter - has become incapacitated and the executrix will is no where to be found.?
Apply to the court for letters of authority. If the situation is properly documented, it should not be a problem.
If your parents took out a mortgage in their name how do you get a mortgage in your name for the same property?
A property cannot be mortgaged twice at once. Additionally, you must hold the title to the property to place it under mortgage. Unless the other mortgage is paid off and your parents give you the house, you will not be able to get a mortgage on it.
Opposite gender of Judge?
Executrix...
