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The second administrator is called the administrator de bonis non and distributes the remaining assets. In the United States's Uniform Probate Code, these titles have been replaced by successor personal representative. [1] The most common cause of a grant of de bonis non by a court is where the administrator dies. However, it can also be ...
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.
An example of such an asset is the US$15 billion that United Airlines' frequent flyer program, MileagePlus, was estimated to be worth when it filed for Chapter 11 bankruptcy. [2] In divorce cases, a hidden asset is a property that is hidden by one spouse from the other and, as a result, is more difficult to discover during divorce proceedings. [3]
Here are the main reasons people try to avoid probate court: It saves time: Probate can take several months or even years to complete, during which time assets are off-limits to beneficiaries ...
Living trusts can act as probate-repellent, but some assets need to be ... to place international assets in a trust. To find out if it’s possible, you'll need to consult an estate attorney ...
As the assets aren't considered a part of your estate, they sidestep the probate process. It also lets you continue to use assets transferred into the trust: for example, a house or money from ...
If a federal court finds that the notice of removal was in fact defective, or that the federal court does not have jurisdiction, the case is remanded to the state court. A defendant used to have to formally petition the federal court for the right to remove, and jurisdiction was not transferred until the federal court entered a formal order to ...
This order is separate from the divorce agreement, though it’s based on the decree’s contents. A QDRO must be approved by the court and sent to your 401(k) plan administrator.
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