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Tennessee's Chancery Court was created in the first half of the 19th Century, and remains one of the few distinctly separate courts of equity in the United States. [4] While the Chancery Court and Tennessee's Circuit Court, the court of general civil and criminal jurisdiction , [ 3 ] may share a set of procedural rules in each county, there are ...
However, if no will is left, or the will is invalid or incomplete in some way, then administrators must be appointed. They perform a similar role to the executor of a will but, where there are no instructions in a will, the administrators must distribute the estate of the deceased according to the rules laid down by statute and the common trust.
The estate tax is part of the federal unified gift and estate tax in the United States. The other part of the system, the gift tax, applies to transfers of property during a person's life. In addition to the federal government, 12 states tax the estate of the deceased.
Upon your death, estate taxes may apply if the total value of your estate exceeds the federal exemption threshold, which is $13.61 million in 2024. Most people won’t come anywhere close to this ...
A Life Estate Can Keep You in Your Home After You Transfer It. A life estate is another option for boomers who dream of transferring their property to their children but don’t want to give it up ...
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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