Townsend, which involves the Fourth District Court of Appeal's certified question as to whether a surviving spouse's "vested rights" in community property are part of the deceased spouse's probate estate
(thereby making such rights subject to claims in the estate) or are fully owned by the surviving spouse and are, therefore, not subject to claims in the estate.
The debtor, Marcus Soori-Arachi, was the annuity owner and annuitant, with his probate estate
the designated beneficiary entitled to the proceeds upon his death.
Matching income and deductions on a probate estate
can be difficult because most of the income comes in at the beginning of the estate administration and the expenses are paid at the end.
Only the probate estate
is subject to the terms of the statute.
We have been told we will need to open a probate estate
that will cost at least $2,500.
A will is, in short, a state-governed legal document that outlines who will receive a deceased person's probate estate
-- the assets that are only in their name when they die.
Life insurance proceeds are not part of the probate estate
, unless the estate is named as the beneficiary of the policy.
Announcement of competition: Forsvarsbygg Probate Estate
(FBSE) shall, as part of the restructuring of the defense environment redevelop and tear / secure four fixtures on Banak in Porsanger in Finnmark.
The grantor no longer individually owns assets transferred to a revocable trust during the grantor's life, so at the grantor's death, those assets do not need to pass through the grantor's probate estate
. Revocable trusts are "tax-transparent"--that is, 1) the assets of the trust are includible in the grantor's estate for estate tax purposes (IRC section 2038); 2) transfers to the trust during the grantor's life are incomplete gifts for gift tax purposes [Treasury Regulations section 25.2511-2(c)] and therefore do not give rise to gift tax or to a gift tax return filing obligation; and 3) the trust is a grantor trust for income tax purposes during the grantor's life (IRC section 676), so all items of income, gain, and loss are reportable on the grantor's income tax return.
The existing trusts, and the fact no probate estate
was filed, show that Williams did the right thing in planning to protect his family.
After the family opened a probate estate
in their brother's name, MassHealth filed a $3 million claim in Worcester Probate Court for Dennis' past care.
More than $4 million in property has been recovered as the result of a claim filed against the probate estate