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The executor will also have to payincome taxfor the last year of the decedent’s life. Whether the executor will have to also payestate taxeswill depend on the size of the estate and state where the decedent lives. The federal threshold for estate tax is $11.18 million. Plus, only 12 s...
If you die with assets worth $14.61 million, for example, your estate must pay taxes on $1 million. Payment is normally duewithin nine monthsof an individual's passing, although an executor of an estate can request a six-month extension. ...
The executor or administrator is responsible for locating the assets that belong to the decedent's estate. They may also need to have the property appraised, since the value of the property will probably become important later on when determining each beneficiary's share. Ongoing lawsuits against ...
Be Wise When Choosing Your Executor Within your will, you’ll need to choose someone to be the executor for you. This person will be responsible for making sure that everything goes according to the plan that you’ve laid out. This can be a lot of work, especially if things aren’t ...
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The article reports on the ruling by the Iowa Court of Appeals that the state may reopen an estate to make a claim for a Medicaid debt. It is noted that after Robert Scrimsher's death, the Department of Human Services requested payments for Medicaid assistance from his wife but when she ...
You'll need to name a still-living person as theexecutorof the estate. That person, often a spouse, adult child, or another trusted friend or relative, is responsible for administering the estate. You can also name joint executors, such as your spouse or partner and your attorney. The pro...
You'll need to name a still-living person as theexecutorof the estate. That person, often a spouse, adult child, or another trusted friend or relative, is responsible for administering the estate. You can also name joint executors, such as your spouse or partner and your attorney. The pro...
a Harvard-trained immunologist who served as the chief scientific advisor to both Microsoft and the Bill and Melinda Gates Foundation and who appears in the sole publicly known photo of Epstein and Gates’ 2011 meeting at Epstein’s Manhattan mansion—as the backup executor of Epstein’s estate....