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10 result(s) displayed (1 - 10):

March 22, 2010

Estate Executor

Estate executor refers to an individual in charge of managing the estate of a person who has died. Estate administration duties will vary depending on the type and value of assets owned by the decedent and whether the estate is probated or protected through a trust.

Oftentimes, the estate executor of probated estates will require assistance from a lawyer or estate planner to ensure estate management procedures comply with probate laws. Probate is the legal process used within all 50 states to validate decedents' last will or appoint an estate administrator to manage intestate estates. Intestate means the person died without executing a last will.

Real Estate Investing article on "Estate Executor"

November 16, 2009

Probate Money

Probate money refers to cash, coins, gold or currency gifted to beneficiaries through a decedent's last will and testament. Unless protected through a trust, inheritance money must be processed through probate before distribution can occur. Unfortunately, this process can extend for months or years.

Probate money can also refer to cash obtained through the sale of probated assets. Many aspects are involved with selling inheritance assets held in probate. Much depends on the type of asset and its value. Selling a business or piece of real estate requires considerably more effort than selling a valuable stamp or coin collection.

Real Estate Investing article on "Probate Money"

November 07, 2009

Estate

The word 'estate' refers to items owned by individuals who have died. An estate can consist of the decedent's home, car, personal belongings and valuable assets such as jewelry or collectable artwork.

When a person dies their estate must be settled through a process known as probate. The exception is when decedents establish a trust. Many types of trusts exist. Each has advantages and disadvantages. Trusts are generally reserved for estates valued over $100,000; however, strategies exist for smaller estates to avoid probate.

Real Estate Investing article on "Estate"

October 24, 2009

Trust

Trust refers to a vault which holds valuable assets, along with a person's Last Will and Testament. People use trusts to transfer inheritance assets upon their death. When a trust is used, inheritance assets do not have to pass through probate and generally are exempt from taxation.

Many people believe establishing a trust is complicated. While this can be true for exceptionally wealthy people, many types of trusts exist which are simple to establish. Some of the most common include living, revocable, irrevocable, testamentary, and irrevocable life insurance trusts.

Real Estate Investing article on "Trust "

June 01, 2009

Life Insurance Trust

A life insurance trust is used to protect insurance proceeds from estate taxation. Beneficiaries are designated within the policy and distribution schedules are established. The life insurance policy is placed inside the trust and managed by a Trustee.

A life insurance trust consists of a Trustor, Trustee and beneficiaries. The Trustor is the person who establishes the trust. The Trustee is the person who manages the trust. This person is designated through the policyholder's Will.

Real Estate Investing article on "Life Insurance Trust"

April 30, 2009

Administrator

An Administrator must be appointed to oversee the estate of a person who has died. Designation can occur by naming the individual in a legal Will or trust. If no estate planning occurs prior to death, everything the decedent owns is transferred to probate. During this process, a judge will appoint an Administrator. This could be a relative, friend or outsider such as an attorney or professional estate planner.

The Administrator generally works with a probate attorney to ensure all documents are properly filed. When the decedent's estate is held in probate, the estate executor must present a copy of the death certificate to the court and legally record the death. Trusts do not pass through probate and follow a different protocol. Trusts are generally handled by the estate planning service that established the trust.

Real Estate Investing article on "Administrator"

February 08, 2009

Probate Cash

Probate cash refers to money obtained from a funding source using probate assets as collateral. Probate assets include financial and real estate holdings left to beneficiaries through a Last Will and Testament. In order to obtain cash in exchange for probate inheritance, a series of events must occur.

Probate cash is available through either inheritance cash funding companies or private investors, such as Simon Volkov. These entities or individuals are referred to as the Funding Source. When a funding source provides probate cash, they assume a considerable amount of risk.

Real Estate Investing article on "Probate Cash"

February 01, 2009

Wills and Probate

Wills and probate are two crucial elements of estate planning. Wills are legal documents which outline distribution of assets to designated beneficiaries. Probate is the legal process used to ensure the decedent's wishes are followed and adhere to probate laws.

The validation of will and probate process generally takes six to nine months. During this time, the designated Estate Administrator named in the Will, works with either the estate planning attorney or probate lawyer retained by the decedent. The Administrator is responsible for organizing documents, handling financial matters, contacting creditors and inventorying all estate assets

Real Estate Investing article on "Wills and Probate"

January 20, 2009

Florida Probate Lawyer

A Florida probate lawyer handles estates of Florida residents who are deceased. Probate is the legal process used to inventory, appraise and distribute assets and financial holdings owned by decedents. Nearly all Florida estates must undergo the probate process unless they have established a revocable or irrevocable trust.

When possible, it is best to hire a Florida probate lawyer long before you need their services. Probate lawyers can assist with estate planning and utilize techniques which allow people to keep certain assets out of probate or avoid the probate process altogether

Real Estate Investing article on "Florida Probate Lawyer"

January 18, 2009

Inheritance Money

Inheritance money refers to cash and financial holdings gifted to heirs through a Will, trust or probate. When money and valuable assets are inherited, they must be processed through the court system to ensure the estate is distributed according to probate laws. An exception to this rule is when inheritance money is protected through trusts.

During probate, inheritance money is generally transferred to an estate bank account. All assets owned by the decedent must be inventoried and appraised. Financial accounts are frozen to ensure outstanding debts, taxes, liens and judgments are paid. Upon approval from the judge, final distribution can be made to named beneficiaries

Real Estate Investing article on "Inheritance Money"