18
votes
Is the estate of a deceased person a legal entity?
Good news: it behaves like a legal entity.
An estate is a collection of assets and liabilities that belonged to the deceased. The collection behaves a great deal like an LLC or other legal entity, ...
14
votes
What options are there for executor when no close family member is available?
Often one chooses your accountant, your financial advisor, or your lawyer. Another option is to appoint the trust department of a bank.
I personally, as a lawyer, have a policy of not consenting to do ...
- 230k
7
votes
What options are there for executor when no close family member is available?
england-and-wales
Age UK, a British charity that supports people who are elderly, have this to say on the subject:
If you don’t have anyone that you feel would be suitable, or your family and friends ...
- 4,244
6
votes
Is the estate of a deceased person a legal entity?
A substantial wall of case law notwithstanding, according to the IRS, "An Estate is a legal entity created as a result of a person's death". So it depends in part on who you ask.
- 216k
4
votes
What to Do About an Executor Lawyer Who Gives No Sign of Closing an Estate
It has to take at least 6 months because that is how long creditors have to file claims. This gives one opinion that "A typical probate process will take up to 24 months from the date of the ...
- 216k
3
votes
Accepted
Issues with Foreign Executor of American Estate?
The will further states property shall be sold and offspring are to
split the proceeds. However, the will does not specifically designate
who inherits the property/deed.
This is an instruction ...
- 230k
3
votes
Accepted
When does the duty of an executor end?
If three people inherited a house in equal shares, then a new deed should have been prepared and filed with the appropriate governmental authority (the county in most US states) before probate is ...
- 114k
1
vote
When Can a Beneficiary/Distributee for an Estate Compel an Executor to Initiate Probate in NYS?
Brother X isn't an executor until the surrogate's court appoints him to that post. Until then, he is just someone nominated in a Will to be an executor. The only power that a nominee might have is to ...
- 230k
1
vote
Distribution of estate reserve funds after initial settlement?
This is at the executor’s discretion
The estate cannot be finalised until all debts and taxes have been identified and paid which may require waiting to file tax returns and waiting for their ...
- 219k
1
vote
Is the estate of a deceased person a legal entity?
Self-answer: An estate is not a legal entity. Legal title to the assets in the estate are held by the personal representatives of that estate and it is they who can sue or be sued in relation to those ...
- 9,315
1
vote
What to Do About an Executor Lawyer Who Gives No Sign of Closing an Estate
The time taken to close an estate is highly variable, and in addition to the complexity of the tasks involved, may depend on the busyness of the lawyer involved.
Fees and costs are also variable, but ...
- 114k
1
vote
credit report on decedent
As executor, you have a duty to settle the debts of the decedent. A credit report could reveal unknown debts. The typical death-notice publishing may also reveal debts, but I'm not persuaded that all ...
- 216k
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