Tag Results
8 Tag Results
Pagination: 1
8 result(s) displayed (1 - 8):
September 24, 2008
Probate Inheritance
Probate inheritance includes all assets owned by a person who has died. Assets can include real estate holdings, life insurance policies, financial portfolios, automobiles, recreational vehicles, jewelry, household belongings and other valuables.
Probate inheritance is held in probate court to ensure directives outlined in the decedent's Last Will and Testament are followed. Additionally, all outstanding debts must be paid prior to distributing probate inheritance assets to entitled heirs.
Real Estate Investing article on "Probate Inheritance "
September 19, 2008
Probate Executor
A probate executor is also referred to as the estate administrator or estate executor. Probate executors are responsible for settling the estate of a person who has died. If the decedent executed a Last Will and Testament, the probate executor is required to adhere to the declarations outlined in the document. If the decedent dies intestate (without a Will), the probate executor must adhere to policies of the probate court.
The probate executor has multiple duties including handling the decedent's financial affairs and distributing their assets to heirs. If the decedent's estate is small (valued under $25,000) and does not involve real estate or financial holdings, the executor might be able to administer the estate without the assistance of a probate attorney
Real Estate Investing article on "Probate Executor "
August 31, 2008
Advance Inheritance
Advance inheritance can be obtained by heirs and beneficiaries against estates held in probate. When a person dies, all of their assets are transferred to probate where a judge must assess the inventory and ensure it is divided according to the decedent's Last Will and Testament. If a person dies without a Will (intestate), the judge will distribute inheritance property according to state laws.
Advance inheritance is not a loan and does not have to be paid back by the person who borrows funds. Instead, advance cash lenders are reimbursed for the full amount when the estate is settled. For this reason, beneficiaries cannot receive the full amount of inheritance monies due to them. Typically, lenders cap the inheritance advance at 70- to 85-percent of the amount due to the beneficiary.
Real Estate Investing article on "Advance Inheritance "
July 26, 2008
Heir Apparent is Next in Line
Heir apparent refers to direct lineage descendents of a person who holds real estate, financial assets and valuable personal property. As long as the heir apparent outlives the property holder, by law they are entitled to inherit assets upon the property holder's death.
Typically, an heir apparent consists of children born to the decedent. If the decedent did not have children, the next closest lineal relative would become the heir apparent. For instance, if the decedent has no children, but has parents, siblings, aunts, uncles or cousins, the decedent's assets would transfer to the closest living relative.
Real Estate Investing article on "Heir Apparent is Next in Line"
March 07, 2008
Inheritance Property
Inheritance property is any property received from a person who is deceased. It can consist of real property such as a house, business or undeveloped land, or personal property such as automobiles, boats, jewelry, household furnishings and clothing.
Inherited property can include financial instruments such as cash, investment portfolios and life insurance proceeds. Although considered personal property, financial inheritances are oftentimes taxed at a different rate than other types of personal property.
Real Estate Investing article on "Inheritance Property"
February 13, 2008
Heirs inheriting realestate from a lost loved one can be traumatic.
The word 'heir' dates back to the 13th century and is derived from the Latin words, hered and heres. These two words are related to the Greek word, chēros, meaning 'bereaved' or 'suffering the death of a loved one'.
Heir can be used to describe a person who either inherits property or is entitled to inherit property. It is also used to describe a person who is entitled to fulfill a specific role, such as an heir to a business or estate. Last, but not least, heir describes an individual who receives a gift or donation or particular quality from a parent or ancestor.
November 03, 2007
Tips for Giving and Receiving Inheritence Property
Inheritence can be a complicated matter. There is paperwork to file, taxes to pay and occasional family battles to contend with. If a person dies without leaving a will, inheritence property can be tied up in probate court for quite some time.
Even if inheritance property is listed in a will or living trust, it must still go through probate to ensure its validity. A probate judge reviews the deceased's estate, notifies beneficiaries and verifies assets. If there are debts associated with the estate, they must be settled prior to disbursement of inheritence property.
Real Estate Investing article on "Tips for Giving and Receiving Inheritence Property"
August 27, 2007
Learn About Inheritance Laws
In the United States, inheritance laws are governed by the Uniform Probate Code. In place since 1969, UPC is a statute that outlines what happens to the assets, debts, and financial affairs of a deceased person. Currently 18 states have adopted the Uniform Probate Code in its entirety, while the remaining 32 states have adopted parts of it.
Although inheritance laws are different in each state, the majority require a similar process. First, an estate executor needs to be appointed. Oftentimes the executor is appointed through the deceased person's will. If there is no will, or the appointed executor does not want to take on the responsibility, an Administrator will be appointed through probate court.
Real Estate Investing article on "Learn About Inheritance Laws"
Pagination: 1
