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Are you an heir or a personal representative of an estate in probate or about to be? If so, we can help you get your money quickly, with reduced stress and pain.
When they hear the word "Probate" a lot of people immediately conjure up the mental image of a legal nightmare taking years to close an estate after someone has passed away. The truth is that it can be a detailed and drawn out process for those involved as creditors and attorneys take their "cut" of the hard-earned finances and personal property the deceased has left behind. This is not the way it has to be for you...
IMDBS provides a solution for all parties concerned. Call us for a no-cost, comprehensive review.
Meanwhile, here are some answers to the most commonly asked questions:
What is Probate?
The term probate means "to prove" the will through a proceeding that usually occurs in court. However, a will does not always exist (or is not available) and laws are established in each state to deal with the orderly distribution of assets to those who are entitled to inherit them..
What is Involved in Settling an Estate?
The Executor or Executrix of an estate often find themselves faced with the duty of being the Personal Representative of the Probate of the estate, a legal process that involves the accounting of the assets, liabilities and taxes. Here is a general list of the duties and liabilities of the Personal Representative. These duties and liabilities may vary depending on your state and county. This site does not provide legal advice.
Duties & Liabilities of Personal Representative
When the court appoints you as personal representative of an estate, you become an officer of the court and assume certain duties and obligations. An attorney is often sought to advise on these matters but is not required. You should however understand the following:
1. Managing the Estate's Assets
a. Prudent investments You must manage the estate assets with the care of a prudent person dealing with someone else's property. This means that you much be cautious and may not make any speculative investments.
b. Keep estate assets separate You must keep the money and property in this estate separate from anyone else's, including your own. When you open a bank account for the estate, the account name must indicate that it is an estate account and not your personal account. Never deposit estate funds in your personal account or otherwise mix them with your or anyone else's property. Securities in the estate must also be held in a name that shows they are estate property and not your personal property.
c. Interest-bearing accounts and other investments Except for checking accounts intended for ordinary administration expenses, estate accounts must earn interest. You may deposit estate funds in insured accounts in financial institutions, but you should consult with an attorney before making other kinds of investments.
d. Other restrictions There are many other restrictions on your authority to deal with estate property. You should not spend any of the estate's money unless you have received permission from the court or have been advised to do so by an attorney. You may reimburse yourself for official court costs paid by you to the county clerk and for the premium on your bond. Without prior order of the court, you may not pay fees to yourself or to your attorney, if you have one. If you do not obtain the court's permission when it is required, you may be removed as personal representative or you may be required to reimburse the estate from you own personal funds, or both. You should consult with an attorney concerning the legal requirements affective sales, leases, mortgages, and investments of estate property.
2. Inventory of Estate Property
a. Locate the estate's property You must attempt to locate and take possession of all the decedent's property to be administered in the estate.
b. Determine the value of the property This can be done yourself or you can consult a professional to assist you.
c. File an inventory and appraisal You must file with the court an inventory and appraisal of all the assets in the estate.
d. File a change of ownership At the time you file the inventory and appraisal, you must also file a change of ownership statement with the county recorder or assessor in each county where the decedent owned real property at the time of death.
3. Notice to Creditors
You must mail a notice of administration to each known creditor of the decedent within two to four months after your appointment as personal representative.
4. Insurance
You must mail a notice of administration to each known creditor of the decedent within four months after your appointment as personal representative.
5. Record Keeping
a. Keep accounts You must keep complete and accurate records of each financial transaction affecting the estate. You will have to prepare an account of all money and property you have received, what you have spent, and the date of each transaction. You must describe in detail what you have left after the payment of expenses.
b. Court review – Your account will be reviewed by the court. Save your receipts because the court may ask to review them. If you do not file your accounts as required, the court will order you to do so. You may be removed as personal representative if you fail to comply.
How Long Does It Take to Settle an Estate?
The entire probate process will differ from state too state and the size and complexity of the "estate." In some states, small estates may even avoid a formal probate, however the debts must still be paid. The minimum time an estate will likely be open is probably from six months to a year; often more depending on the complexity of the estate.
The property is said to be owned by the "estate" of the deceased person and must remain so until the judge or other court-appointed person says it may be distributed. However, it is often necessary to sell the property in order to satisfy the debts of the estate to close the probate. If you have a property that you need to sell please contact us for immediate assistance.
What is Inheritance Cash Advance?
In short, you get the money you need today!
Long delays, uncertainties, legal hassles. Too often these are the problems you inherit when a loved one, friend or relative dies. Because a typical estate can easily be tied up in court proceedings (probate) for a year or more, there's no way of knowing when you'll acutally receive your inheritance money.
An inheritance cash advance helps you overcome the long delays built into the probate process.
* You get part of your inheritance now, instead of waiting months, or even years!
* There's no concern about credit references or current employment.
* You have no personal liability.
* There are no monthly payments or hidden charges.
* Your income or credit status isn't a problem.
* You'll get fast, courteous and friendly help and one click gets you started!
APPLY NOW. Our brokers can help you get the money you need today! Call us for a no-cost review.
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