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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.
In probate, divvying up assets, including real estate, is a duty that falls to an executor. That may be someone named in the will, such as a family member or an attorney, or it could be someone ...
A law firm can perform most of the tasks associated with the estate administration, but the executor must make all final legal and financial decisions with the information provided by legal and ...
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.
In the United States, the common law rule has been abolished by statute in Alaska, Idaho, New Jersey, Pennsylvania, [22] Kentucky, [23] Rhode Island, [24] and South Dakota. [ 25 ] A new US Uniform Statutory Rule Against Perpetuities was published in 1986 that adopts the wait-and-see approach with a flat waiting period of 90 years in place of ...
Personal representatives are tasked with managing estates when people die, either according to the terms of their will or the state laws that govern certain successions. An executor is a type of ...
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