In cases where a deceased relative has left no will to dictate the succession of his estate, it is often prudent to assert your claim on the deceased person's estate as soon as the death is known to you. Writing a letter to claim a deceased relative's estate is usually only the first...
Probate is the legal process by which a deceased person’s assets are categorized and distributed to his heirs and creditors. When a person dies with assets, a personal representative of the decedent (either the executor or a person who wishes to become the administrator) should open a probate...
In this case your decision is a no-brainer, as long as the deceased’s full estate-tax exemption is intact. (If the deceased made very large gifts during his or her lifetime they could have reduced the exemption.) You’ll want to go with the 2011 rules, because the full value of th...
Buying a car from a deceased person's estate is not much different for the purchaser than buying any used car. Most of the workfalls to the estate's executorto ensure that the transfer is legal. In some states, you can be liable for sales taxes on vehicles you purchase from an estate....
While this is essentially a similar procedure as a will, property left under a will becomes part of the deceased's probate estate. On the other hand, living trust assets pass to loved ones without going through probate. Revocable and Irrevocable Trusts ...
The estate of the deceased is vested in the Chief Judge of the State. Before you can take over or assume control over the estate of someone who has died, you have to first obtain the letter of administration in Nigeria from the Probate Court to become the administrator of the deceased’s...
Additional information to consider Below you’ll find common questions and other factors impacting an estate settlement. Keep in mind that the answers can vary based on the state of residence of the deceased. Convenient ways to reach us
Death of a Parent: The surviving parent may limit or cut off contact with the deceased parent’s extended family. Child Welfare Concerns: If there are allegations of neglect or abuse by the parents, grandparents may petition for custody or visitation. When to Seek Legal Advice Not all situatio...
An inheritance tax is a tax imposed by some states on the recipients of inherited assets. In contrast to an estate tax, an inheritance tax is paid by the recipient of a bequest rather than the deceased's estate. The inheritance tax is not common in the U.S. In fact, just six states...
An example of when a marital trust might be used is when a couple has children from a previous marriage and wants to pass allpropertyto the surviving spouse upon death, but also provide for their individual children. Should the surviving spouse remarry, a deceased spouse's assets will then ...