0
What else can I help you with?
Is a will necessary if all monetary assets have beneficiaries named?
Someone has to make sure all debts are paid and all taxes filed and paid. And beneficiaries are only named in a will, at least as far as the law is concerned.
Can the executor sell property in Massachusetts without all beneficiaries approval?
Yes, the only approval necessary is the court's.
Can an executor sell house against wishes of beneficiaries if liquidation of the house is not necessary to cover estate expenses or taxes?
If the power to sell real estate was granted in the will then the executor has the power to sell it. However, if ALL the beneficiaries agree that the property should be retained they should insist the property not be sold. Remember that the beneficiaries own the real estate. If the executor proceeds to try to sell the property the beneficiaries should petition the court to review the matter ASAP.
How do you draft letter to beneficiaries for distribution of assets?
When drafting a letter to beneficiaries for the distribution of assets, start by clearly addressing the beneficiaries and stating the purpose of the letter. Include details about the estate, the assets being distributed, and the timeline for distribution. It's important to convey any necessary instructions or information regarding the process, as well as offer an opportunity for beneficiaries to ask questions. Finally, conclude with a respectful note, expressing appreciation for their patience during the process.
Is a management representation letter necessary for a compilation?
According to the Statements of Standards for Accounting and Review Services, a management representation letter is not required for a compilation. A management representation letter is not needed either in this situation.
What do the beneficiaries of a will inherit from someone who has died?
Beneficiaries of a will inherit the specific assets and property designated by the deceased in the will. This can include real estate, financial accounts, personal belongings, and other valuables. The distribution is carried out according to the terms outlined in the will, following any necessary legal processes such as probate. If there are debts or taxes owed by the deceased, those may need to be settled before beneficiaries receive their inheritance.
Do beneficiaries have to sign a waiver?
Whether beneficiaries need to sign a waiver depends on the specific context and the type of benefits involved. In some cases, beneficiaries may be required to sign a waiver to acknowledge understanding of the terms and conditions or to relinquish certain rights. It's important to consult the relevant legal or organizational guidelines to determine if a waiver is necessary. Always seek professional advice for specific situations.
Why are debate and compromise necessary a bill becomes a law?
They allow for representation of diverse views. Studyisland(:
How is math used in an election?
In a normal election, it is necessary to count the number of votes cast for each candidate to determine the winner. This process may be simply finding the candidate with the largest number of votes or there may be preliminary run-offs with a 2-candidate final, or various forms of proportional representation.
Did the Welfare Reform Act cause existing Medicaid beneficiaries to lose necessary coverage?
Welfare Reform (1997) was about cash assistance (AFDC/TANF); it didn't deal with Medicaid.
Can execcutos not pay out beneficiaries?
Yes, executors can withhold payments to beneficiaries under certain circumstances. This may occur if there are unresolved debts or claims against the estate, pending tax liabilities, or if the executor believes the distribution may not be in accordance with the will's terms. However, executors are required to act in the best interests of the estate and beneficiaries, and they should communicate the reasons for any delays in distribution. Legal advice may be necessary if disputes arise.
If you were born in California in 1992 when can you get your license?
When you turn 16 w/parent permission and after you have done the necessary classes. Or at 18
