What Is Probate and When Is It Required?
In this case, if the grantor is dead and there is no one to serve as trustee, once again the court will appoint a successor trustee to carry out the administration of the trust. Likewise, the court may choose a spouse or relative, but it is not required. One disadvantage of having the...
For instance, in Illinois, individuals who want to challenge a will must contest the will within six months after it has been admitted to probate, while in Texas, interested parties typically have two years after the will has been admitted to probate to file a will contest. Brette Sember, ...
The person helping me is not as experienced as I had hoped and I feel that taking a leap of faith is not something I should do in this matter. I feel taken advantage of as I’ve seen people walk away with a scratch and have recieved more care than me. I don’t know what to do...
When you alert creditors to the death, you can avoid dealing with debt collectors in the future. Here are some common terms that may help you understand what happens to credit card debt when someone dies. Probate: Probate is the common legal term for the handling of a decedent’s affairs....
Since she got me to sign the contract, she is not as available as she is. First of all, she charged me a % that was higher that what other personal injury lawyers in Texas charge. I saw it and we talked about it and she reduced it but not even to the flat rate most of them ...
The Seller Is Trying to Back Out of the Deal Just like you are obligated to go through with the purchase unless there is a contingency that applies, the seller is also required to hold up their end of the bargain. If you have the financing and you pay them the money required by the ...
The deed must contain this statement: "I affirm under penalties of perjury, that I have taken reasonable care to redact each Social Security number in this document unless required by law. This instrument is prepared by [printed name of individual]." The new property owner needs to record ...
When Is an Estate Tax Return Required? An estate tax return is required if the gross value of the estate is over a certain threshold. For individuals who passed in 2023, the threshold was $12.92 million (which increases to $13.61 million in 2024). Almost anything belonging to the deceased...
Although the best time to open a Roth IRA is when you are young and have the power of compounding and interest on your side, it can also be a useful vehicle when you are older and would like to fund an account that is not subject to required minimum distribution rules during the life...