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The executor fee can easily be 3% to 5% of the value of the estate plus extra for the bond. ... A real estate agent may have to be hired and paid to dispose of property or businesses. The property ...
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.
The fee simple estate and the fee tail estate are estates of inheritance; they pass to the owner's heirs by operation of law, either without restrictions (in the case of fee simple), or with restrictions (in the case of fee tail). The estate for years and the life estate are estates not of inheritance; the owner owns nothing after the term of ...
A: The executor fee is calculated in many states as a percentage of probate assets, not time spent. Probate assets mean the decedent's assets that pass through the estate and not by beneficiary ...
An executor is a person appointed by a will to act on behalf of the estate of the will-maker (the "testator") upon his or her death. An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator.
Write a claim to the executor or administrator of the estate stating under oath that you are owed a debt. Provide details about the debt amount and attach any written documentation to the claim.
The executor holds legal title to the estate property, but may not use the title or property for their own benefit, unless permitted by the terms of the will. A person who deals with a deceased person's property without proper authority is known as an executor de son tort .
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