If so, do I have to wait for probate? What happens if the Executor tries filing the claim? Would the life insurance company pay out to the Executor to then pay me? Or would the life insurance company be required to make payment to me?” ...
HOW, WHERE, WHEN AND WHY TO FILE A COMPLAINT. What you should know about how your complaint against a lawyer or paralegal will be treated by the law societies in Canada. A Law Society cannot pay you money or make a lawyer or paralegal pay you money because of his or her mistake. ...
How much money can I inherit before you have to pay taxes on it? In states with an inheritance tax, the amount being distributed to inheritors will typically have to reach a certain threshold for the inheritance tax to apply. The exact inheritance amount threshold varies from state to stat...
Instead, the payout goes directly to your named beneficiary or beneficiaries. Payment is usually quicker too when a trust is in place. This is because the money goes directly to the beneficiaries rather than into your estate, where a grant of probate may be required. For more information on...
Licenses can be purchased from the local county probate judge. Get a Business Privilege License Find Your County to Get an Alabama Business Privilege License View Directory Fee: Varies by county Sign Up for Business Privilege Tax Every LLC that conducts business in Alabama is required to submit...
The last step in the acquisition process is closing on the deals! Since we wanted to use someone else for the financing (remember… the more you leverage OPM, the better your ROI is). So, we actually assigned the contracts to the LLC we set up with the partner on these deals. He put...
How to File Deceased Taxes Late Personal Finance How to Probate a Will in BC, Canada Personal Finance What Is a K-1 Tax Form in Relation to Inheritance? • Line 1 - Enter the decedent's name followed by "estate," as in "Jane Smith, Estate" • Line 3 - Enter the name of the...
Failure to name beneficiaries in a will can tie up your property inprobate, potentially for years. It can leave the decision about how to distribute your assets up to the state in which you live. In either case, the people for whom you wanted to provide financial support after your death...
Wills need to be accessible after the probate process is finished because someone (such as a creditor) missed during probate may have a claim on the estate. For this reason, probated wills become public records, which means anyone can show up at the courthouse and view them in their entiret...
withdraw money from the trust gives beneficiaries a present interest in the money. This present interest must exist in order for the annual gift tax exclusion to apply. That's why it's so important that a Crummey letter be sent to beneficiaries to inform them of their power to withdraw ...