My Mother left Everything To Charity; Am I Not Entitled To What She Owned?
If a child is not listed as a beneficiary of their parent’s estate, then they will not be entitled to anything within that estate. It’s every person’s right to determine how their assets will be distributed upon their death.
I Was Given Some Money By A Friend When They Died; Do I Have To Pay Tax On That?
Gift taxes are owed by the person who makes the gift rather than the person who receives the gift. Once a person receives a lifetime gift, that gift is theirs tax free. An inheritance tax, on the other hand, is paid by the person who receives it.
My Wife’s Executors Say I Can’t Inherit Any Money Until The Inheritance Tax Is Paid, But I Don’t Have To Pay Any, Do I?
A spouse will not have to pay inheritance tax on what they inherit from their spouse, so long as they are a US citizen. However, there is still a possibility that inheritance taxes will be owed on distributions that go to other beneficiaries. Under such circumstances, it is prudent for the administrator of the estate to withhold all distributions until tax issues have been resolved in order to ensure proper balancing distributions.
I Don’t Trust The Executors, But My Friends And Relatives Do; What Can I Do?
A beneficiary or heir who will inherit from an estate will receive notice from the court and from the executor whenever an action has been taken. A beneficiary or heir could also file a request for special notice with the court in order to have the executor show proof of service to the court, which would allow the beneficiary or heir to keep track of their actions.
What If Someone Is Taking Or Misusing Estate Property?
If someone is taking or misusing estate property, it would be best to immediately alert the court. One of the advantages of probate is that it is overseen by the court and there is a relatively quick and simple way for beneficiaries to contest the actions of the administrator.
The Executors Are Taking Too Long To Give Me My Inheritance; What Can I Do?
Probate is a very long process, and it can be frustrating when it feels like nothing is being accomplished. Having said that, the courts keep track of everything that occurs during the process of probate and there are timelines by which an executor must abide. There are times when the executor will be required to take an action, and if they continue to fail to take that action, then the court will question them about why they are not pursuing the estate appropriately. If the estate is being handled by a trustee without court supervision and they are not diligently pursuing distribution, then a beneficiary of the estate or trust can petition the court to have them show why they are not progressing with the administration and distribution of the estate.
What If Someone Has Abused A Power Of Attorney?
A power of attorney is a document that’s only effective during a person’s lifetime. If someone is acting under a power of attorney and abusing that role, the local department of social services should be contacted. Within that department, there is an adult protective services division that will step in and make a determination about whether there has actually been abuse. If it is determined that there has been abuse, then steps will be taken to stop it.
What If Life Insurance Refuses To Pay Out On A Claim?
There are several legitimate reasons for a life insurance company to refuse a claim, but if an insurance company is wrongfully refusing to pay a claim, then an attorney would need to be hired and a claim for insurance bad faith would need to be filed. Insurance companies are not looked upon favorably by the courts when they do not pay legitimate claims, and the penalties are significant. As a result, most insurance companies do whatever they can to avoid insurance bad faith claims.
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