aAn estate executor’s or administrator’s promise to pay a debt of the decedent (the person who died) out of his or her own funds must be made in writing under the Statute of Frauds. This requirement actually gives the executor or administrator more time to decide whether to pay someone...
The article presents an answer to a question on estate executors and wills.Ballentine, WarrenJet
Estate taxes andinheritance taxesare often discussed together, but they are different: Inheritance tax is paid by a beneficiary, while estate tax is paid out of the deceased's estate before any remaining money, property or other assets are distributed. If you're the executor of an estate, you...
Money or property you inherit may be subject to estate taxes and inheritance taxes, but it's not likely. Most estates are not rich enough to qualify for the federalestate tax. The federal estate tax as of the 2023 tax year applies only on the value of an estate that exceeds $12.92 mill...
Who Can Be an Eligible Designated Beneficiary (EDB)? An eligible designated beneficiary (EDB) must be an individual, and not a nonperson entity such as a trust, an estate, or a charity (which would be not designated beneficiaries).
In addition, there are other important roles to consider in your trust and estate planning. Personal representative:Also known as an executor, this individual is responsible for distributing assets according to the deceased person’s will. They can be involved in an estate and work with the trus...
If you've been harmed by a lawyer's estate planning mistake, you may have a claim for legal malpractice. Learn more about common types of estate planning errors and what you can do about them.
Traditionally, the buyer pays for a home appraisal because it is required by a lender. When a private appraisal is ordered by a homeowner or executor of an estate, the individual who orders the appraisal will pay for it. While an appraisal fee may be included in a list ofclosing costs, ...
I spent three months working at Manchester's port. Then, my mother purchased a rural property in 1966 in Franciacorta, and sent me into exile there to keep me out of mischief. She acquired a small, two-hectare farm and this would eventually become the Ca' del Bosco estate. I mostly lai...
Frasers Centrepoint Trust (“FCT”) is a leading developer-sponsored retail real estate investment trust (“REIT”) with assets under management of approximately S$6.7 billion. FCT is also one of the largest suburban retail mall owners in Singapore.