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A conservator over the estate is responsible for marshalling, protecting, and managing the conservatee's assets that remain in their estate. A conservator reports to the court that appointed them, and is monitored by the supervising judicial court in the county in which the conservatee permanently resides.
The probate court will then oversee the process of distributing the deceased's assets to the proper beneficiaries. A probate court can be petitioned by interested parties in an estate, such as when a beneficiary feels that an estate is being mishandled. The court has the authority to compel an executor to give an account of their actions.
Legal guardianship for unaccompanied minors is regulated by a law of its own. Except for normal parenthood, the guardianship is assigned by the district court and supervised by the Chief Guardian, a municipal authority that is mandatory in every Swedish municipality. What is included in the field of guardianship is decided by the district court.
Income, gift, estate, and generation-skipping transfer tax planning plays a significant role in choosing the structure and vehicles used to create an estate plan. In the United States, assets left to a spouse who is a U.S. citizen or any qualified charity are not subject to U.S. Federal estate tax.
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.
Debt — in the form of loans and credit card debt — may be considered a marital asset. This can cause problems if the debt is joint and one ex-spouse misses a payment.
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 allodial or fee simple interest is the most complete ownership that one can have of property in the common law system. An estate can be an estate for years, an estate at will, a life estate (extinguishing at the death of the holder), an estate pur autre vie (a life interest for the life of another person) or a fee tail estate (to the heirs ...
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