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This estate is the sum total of assets, debts and property owned and owed by the decedent (a legal term for the person who died). ... Continue reading → The post Executor vs. Administrator: Key ...
Here are the things you need in an estate plan, including one element that can provide more flexibility and help settle your estate more quickly. 7-step checklist for estate planning
The post Personal Representative vs. Executor: Key Differences appeared first on SmartReads by SmartAsset. Personal representatives are tasked with managing estates when people die, either ...
Estate planning is the process of anticipating and arranging for the management and disposal of a person's estate during the person's life in preparation for future incapacity or death. The planning includes the bequest of assets to heirs, loved ones, and/or charity , and may include minimizing gift, estate, and generation-skipping transfer taxes .
Administration durante absentia, when the executor or administrator is out of the jurisdiction for more than a year. Administration pendente lite, where there is a dispute as to the person entitled to probate or a general grant of letters the court appoints an administrator till the question has been decided. [3]
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
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