Beneficiaries & Heirs Archives

Reverse Mortgages and the Estate – What Executors and Heirs Need to Know

A reverse mortgage can operate for years with little attention from the family. After the borrower dies, however, the loan can become an immediate estate-administration issue. The important starting point is simple: the reverse mortgage company does not automatically own the home. The property remains subject to its title, the estate plan, and applicable state

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Is There a National Standard for Estate Accounting?

Estate-accounting requirements are primarily governed by state probate law, court rules, court orders, and the terms of the will. As a result, no single bookkeeping format is mandatory for every estate in the United States. However, a nationally developed framework provides useful guidance for executors, attorneys, accountants, courts, and beneficiaries. The central expectation is that

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Finding the Heirs of an Estate

Executorium.com Article based on an interview with Michael Zwick, CEO & Investigator-in-Chief, Assets international, LLC Where Are the Heirs? What Every Executor Needs to Know About Beneficiary Searches When administering an estate, one of the most unsettling questions an executor can face is: Where are the heirs?Or worse: Are there heirs we don’t even know

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The Beneficiary Refunding Bond and Release via Stark & Stark

Beneficiary Bond | 5-minute read Heir Refunding Bond | Inherited Assets | Bond and Release What is a Refunding Bond and Release? Click HERE for the original article by By Paul W. Norris A refunding bond and release is a legal requirement a beneficiary is presented with before receiving a distribution. This is to ensure that should

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Being an Executor from Out of State: How to Handle Ancillary Probate

When you’re an out-of-state executor—living in a different city or state than where the estate is being settled—the task can seem even more daunting. However, with planning, communication, and the use of professional resources, you can manage the process efficiently and effectively, even from a distance. While a trip or two may be a necessity,

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Inheritance Stipulations Rockpoint Probate

The Top 10 Strangest Inheritance Stipulations via RockpointProbate.com

Inheritance is a strange passage in many people’s lives. They are fortunate, one will assume, as receiving money and or property is a good thing – for most. However, inheritance is not without complications. Above all, you likely lost someone. Grief is a big black cloud affecting everyone differently. In addition, relationship dynamics often change

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What is a Medallion Signature Guarantee?

Medalion Signature Guarantee | 5-minute read Estate Accounting| Estate Asset Transfer | Estate Fiduciary A Medallion Signature Guarantee is a special certification used to authenticate signatures on securities transactions — for example, transfers of stocks, bonds, or mutual fund shares. It is stronger than a standard notarization because the guaranteeing financial institution verifies the signer’s

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Find Life Insurance Policy Tool

If you cannot find a life insurance policy, there may be one last place to look. The National Association of Insurance Commissioners has a tool to search for lost and unknown life insurance policies of deceased persons. The Life Insurance Policy Locator Service can submit a search request for life insurance policies and annuity contracts.

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Understanding Inheritance Advances and Inheritance Loans

Inheritance Funding | 3-minute read Estate Loan | Inheritance Loan | Inheritance Advance Inheritance Funding Options are defined, per finder.com… An inheritance advance, an advance on your inheritance amount. An estate loan, a secured loan that uses your inheritance as collateral. Inheritance Advance To put it simply, an Inheritance Advance is an advance of money

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Estate Inheritance? Don’t Blow it!

Estate inheritance money can soften the blow of a loss. Undeniably it is nicer to cry in a new Lexus than in a 1986 Ford Taurus. Undoubtedly, listening to Uncle Carmine give you inheritance advice is better while on a beach somewhere. However, consider it’s 20 years later, and that trip you took, and the

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Estate Personal Property – Identification and Distribution

Estate Personal Property (otherwise known as, ‘Personalty’) – The moveable assets of the estate. Property which is neither fixed or real property, money or investments. Examples: vehicles, furniture, jewelry, clothing, personal items, etc. First, a discussion with your Estate’s attorney should educate you regarding any laws in your state that you ought to be aware

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