When people pass away, they leave behind assets, property, and possessions that can have sentimental and real value for surviving family members and loved ones. Everything that an individual owns upon their death is known as their estate.
Once your will goes through probate, it becomes a public record. The probate court must maintain the will so that the public can access it.
The person you name as your executor will be accountable for a number of important tasks, even in managing the administration of a small estate. This may include filing tax returns, keeping meticulous records, and distributing assets to your beneficiaries. At the same time, there are rules about what the person in this role is not permitted to do.
“Decedent” is a legal term that refers to a person who has died with unsatisfied legal obligations.
An executor is the person or institution responsible for managing the administration of a deceased person's estate. The executor (also called a personal representative) is either named in a will or appointed by the court, if there is no will.
Estate administration is the process of managing and distributing a person’s property (the “estate”) after death. If the person had a will, the will goes through probate, which is the process by which the deceased person's property is passed to his or her heirs and legatees (people named in the will).
For almost every wrong there is a remedy, but you cannot just sit and wait and hope things work themselves out. If there are bad actors involved, those things will not work themselves out without some kind of intervention. If there is no intervention, the bad actors WILL eventually get away with their wrongdoings with the passage of time. YOU must take the bull by the horn and claim what is yours.
there are often ways to expedite the death benefits process to receive them quickly to help pay for death expenses.
Your responsibility as Executor is to either fulfill the obligations expected of you as Executor or to pass on those responsibilities to a Successor Executor. That being said, not everyone is immediately ready to serve in this important role.
Attorneys handling probate in Crossville, Tennessee often advise the following options to help people in our area avoid the process altogether to save time, money, and aggravation.
The unfortunate reality is people aren’t given much privacy when they pass away. Under the laws of our state and every state in the country, details about one’s estate and inheritance are public record.
If you have suffered the loss of your life partner, my heart goes out to you. Few things in this world are quite as devastating. As a Crosville estate planning lawyer, I know grief can debilitate, and the ‘to-do’ list in the immediate aftermath can seem impossible to manage. It might feel like you’re leaving everything behind.
Because most people either having nothing more than a will, or no will at all, most estates will have to go through probate, and the courts will appoint an administrator (or executor) who is in charge of taking care of each step in the process. The executor will often make things a bit less overwhelming by hiring a local estate planning lawyer. One of the first things either the courts or the lawyer will tell the executor is that they need to create a list of assets.
It is bad enough when a parent dies, but then the hounding from the parent's creditors begins. The creditors try to convince the grieving children that they are personally responsible for paying the parent's debts. As a general rule, this is simply not true, but some of the exceptions can swallow up the rule completely, so it is important to understand the nuances.
An estate planning attorney can guide you through the process … with or without probate. Financial and family situations are often challenging, as you work to protect your assets, privacy and family peace. You have to deal with state laws, federal laws and the word “probate” but it isn't alw...
The estate includes assets as well as frequent flyer miles … and where they will go. There is considerable interest in the estate of celebrity Anthony Bourdain and it is getting even more interesting, according to Forbes...
Spouse retains full rights to estate, unless there is a divorce. There were two deaths in the celebrity world recently that involved separations, highlighting a peculiar issue in estate law, according to Forbes...
As size of estates increase, so do the number of challenges. However, success isn't easy to come by. As the number of wealthy estates increase, both the U.S. and Canada find themselves in challenges brought about by people who believe they didn't get their fair share, according to The Globe...
Sometimes it is best if your home does go through probate. Putting your child's name on the deed of a home may avoid probate. However, it is almost always a very bad idea because of the risks involved, according to My Prime Time News in "Deeds and Probate Avoidance."
Las Vegas killer leaves large estate, but fair compensation for the victims will be a challenge. Despite a hefty estate of $5 million left behind, it will be difficult to compensate the victims of Las Vegas mass shooter Stephen Paddock.
Grandson takes issue with Manson's friend and fan who claims he holds killer's will.