Users' questions

What is an administratrix of an estate?

by Ayden Rudd

What is an administratrix of an estate?

An administatrix is a woman appointed by the probate court to manage the assets and liabilities of a person who dies without a will or without naming an executor. Administratrix means a female administrator.

What can the Administrator of an estate do?

It is an administrator’s job to gather all of the assets of the estate, pay the debts of the estate, and distribute the assets to the beneficiaries in accordance with the will or the laws of intestate succession.

Who is the personal representative of an estate?

A person who dies leaving a will has most likely named a personal representative to act on behalf of his estate, steering it through the probate process. The personal representative named in the will is known as the executor; if the decedent died without leaving a will,…

Who is next in line for personal representative?

If there is no representative named in the will, or the person named is not able to serve, the surviving spouse has next priority, if he or she is a beneficiary under the will. If the surviving spouse is not a beneficiary, other beneficiaries under the will are next in line to serve as personal representative.

How is a personal representative appointed in Michigan?

In Michigan, a personal representative will be appointed as follows: the person named in the decedent’s will as personal representative. If there is no representative named in the will, or the person named is not able to serve, the surviving spouse has next priority, if he or she is a beneficiary under the will.

Can a personal representative steal from an estate?

Personal Representative Stealing from Estate When family members are appointed as executors, also called personal representatives, stealing from the estate is very common. People can be greedy and having access to money makes it all too easy to use that money for their own pleasure.

A person who dies leaving a will has most likely named a personal representative to act on behalf of his estate, steering it through the probate process. The personal representative named in the will is known as the executor; if the decedent died without leaving a will,…

Personal Representative Stealing from Estate When family members are appointed as executors, also called personal representatives, stealing from the estate is very common. People can be greedy and having access to money makes it all too easy to use that money for their own pleasure.

Are there any siblings left in the estate?

Only siblings are left. The estate only has a small piece of real estate, which will be divided when it is sold. The siblings won’t sign to select an executor because it seems they don’t trust anyone but themselves.

Can a personal representative make a distribution to a beneficiary?

After you’ve resolved all issues of estate debts, taxes and expenses, you can make distributions to beneficiaries based on the terms of the will. Some states require that you submit an accounting to the court first, detailing everything you did on the estate’s behalf.

What does it mean to be a trustee of an estate?

The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust. Both roles involve duties that are legally required.

Why did my mother use a professional trustee?

Rather than appoint either one as the trustee of the family trust, she named a professional trustee – a big company that also happened to be an affiliate of the brokerage firm she was using. That’s the root of the problem, because they had an inherent conflict of interest.

Why did my mother set up a trust?

They never expected all these problems. But after shredding nearly $100,000 in legal fees (so far) they’re angry. When their mother set the trust up, the attorney assured the family that settling the estate would be a quick and inexpensive process once their mother passed.

Who is the executor of my mother’s estate?

Ask a lawyer – it’s free! Currently, as long as the property was your mother’s, her estate owns the property, not you. As executor, you are the one with the authority to make all of the decisions with regard to the property, but you do owe a fiduciary duty to the heirs (presumably, to you and to your sister)to maximize its value.

Who are the executors and trustees of an estate?

The executor (sometimes referred to as executrix for females) is responsible for managing the affairs of and settling the estate, including initiating court procedures and filing the deceased’s final tax returns. The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for

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What is an administratrix of an Estate?

by Ayden Rudd

What is an administratrix of an Estate?

An administatrix is a woman appointed by the probate court to manage the assets and liabilities of a person who dies without a will or without naming an executor. Administratrix means a female administrator.

How long has it been since my mom died?

When I find myself getting mysteriously emotional, it’s usually around this time of year. Me and mom. College graduation weekend. This week marks five years since my mom passed away. To say we were “close” is an understatement.

When did my mother die of lung cancer?

My mother passed away on September 18 th, 2011. She had suffered with lung cancer for the year and a half prior to her death. Her suffering was long and difficult for everyone. We all knew Mom was going to die. In fact, there came a point when we were praying for God to take her and end her suffering. I thought I was prepared for Mom’s passing.

What was the cause of my mother’s death?

She had suffered with lung cancer for the year and a half prior to her death. Her suffering was long and difficult for everyone. We all knew Mom was going to die. In fact, there came a point when we were praying for God to take her and end her suffering. I thought I was prepared for Mom’s passing. I’m an educated, intellectual woman.

How to get property in your name after your parent has died?

In most cases, the estate will have to go through the probate process before you can officially get the property in your own name. Check the Will . Whether or not you’d get property in your name upon the death of a parent depends on the will. If you were left the property, or if you co-owned the property with the deceased.

When I find myself getting mysteriously emotional, it’s usually around this time of year. Me and mom. College graduation weekend. This week marks five years since my mom passed away. To say we were “close” is an understatement.

What happens to my mother’s estate when she dies?

If your mother had a spouse at the time of her death, then the distribution of her estate depends upon the ownership and titling of her assets. Generally, the majority of her assets would pass to her surviving spouse. Children or grandchildren may inherit a smaller share.

When is it too late for Medicaid estate recovery?

In many states, that limit is one year. So, in a state with this rule, if the surviving spouse dies more than a year after the Medicaid recipient, it will be too late for the state to file its claim for estate recovery.

What did my mom do with her money when her mother died?

Her portfolio, however, wasn’t doing as well. In 1974, when her mother died, Mom had inherited a modest bundle of blue-chip stocks. Largely untouched, and with 40+ years of compounding, they’d grown to the point where some of the positions were more than 90 percent appreciation.