Can someone steal your inheritance?
Inheritance theft can take many forms, ranging from manipulating the person’s wishes while they’re still alive, to theft and embezzlement that occurs after the death. For blended families, this issue is a common problem, even if the estate in question isn’t worth millions.
What if a beneficiary steals from the estate?
You might have to obtain a court order from the probate judge to have missing items returned. Additionally, you may also engage in probate litigation to determine if a beneficiary stole assets. A judge can order that the beneficiary return the assets to the estate and pay restitution or damages.
How long does it take for a will to be distributed?
Unfortunately, every estate is different, and that means timelines can vary. A simple estate with just a few, easy-to-find assets may be all wrapped up in six to eight months. A more complicated affair may take three years or more to fully settle.
Who is the executor of my mother’s estate?
Ask a lawyer – it’s free! Currently, as long as the property was your mother’s, her estate owns the property, not you. As executor, you are the one with the authority to make all of the decisions with regard to the property, but you do owe a fiduciary duty to the heirs (presumably, to you and to your sister)to maximize its value.
How did the family divvy up Mary Jane’s estate?
Although Mary Jane’s estate was pretty grand, the method the family used to divvy up the tangible items could be one that other families with much smaller ones could try. After Mary Jane’s death earlier at 93, the executors — Sue and her brother Bruce — created an inventory of the 724 items in her estate that had monetary or sentimental value.
Can a sister hold up the distribution of an estate?
It is the law. She can drag her feet but you can force her to settle the estate. No one has the right to hold up the distribution of an estate. What she is trying to do is illegal. As for paying taxes on the inheritance, I don’t know all state laws but in the state I live in there is no tax on inheritance and no federal tax up to 5 million.
What’s the best way to disburse an estate?
The family rejected the often typical system for disbursing tangible items of an estate where family members take turns choosing items. But let me tell you about a clever way one family dealt with this problem. As an estate planning and probate attorney, I’ve worked with many families over the years.
Ask a lawyer – it’s free! Currently, as long as the property was your mother’s, her estate owns the property, not you. As executor, you are the one with the authority to make all of the decisions with regard to the property, but you do owe a fiduciary duty to the heirs (presumably, to you and to your sister)to maximize its value.
Who is entitled to inherit from my mother’s estate?
Distant relatives may inherit property, but only when close relatives don’t exist. If your mother was single, then you and your siblings as well as any surviving parents (if only one parent died), will receive your mother’s assets.
What can I do with all of my parents possessions?
An estate liquidator service can expedite the process selling estate assets. In most cases, they will come to the home and give you a dollar amount to take all of the personal belongings for a flat fee that is paid up front.
What happens to my mother’s estate when she dies?
If your mother had a spouse at the time of her death, then the distribution of her estate depends upon the ownership and titling of her assets. Generally, the majority of her assets would pass to her surviving spouse. Children or grandchildren may inherit a smaller share.
