Does an Executor Have to Show Accountings to Beneficiaries?
Yes, an executor is generally required to provide an accounting to the beneficiaries of an estate. This accounting details the financial transactions related to the estate, including assets collected, debts paid, and distributions made. The specific requirements for accounting depend on state laws and the terms of the will, but in most cases, beneficiaries have […]
How Do You Split an Inherited IRA Between Siblings?
An IRA, or Individual Retirement Account, is a tax-deferred retirement savings account. Like most bank accounts, an IRA allows you to designate a beneficiary or beneficiaries who will inherit the account after your death. This enables you to pass an inherited IRA to your heirs outside of probate. If you and your siblings have jointly […]
What Is Tortious Interference With Inheritance Rights?
Executive summary Introduction Tortious interference with inheritance occurs when someone maliciously prevents an individual from receiving an inheritance or gift through acts such as fraud, coercion, or undue influence. This cause of action allows a plaintiff to sue a defendant who intentionally prevented them from accessing or receiving the assets that were rightfully theirs or […]
Does Texas Have a Trust Code?
Key Takeaways Introduction Yes, Texas does have a trust code. This code can be found in Subtitle B of Title 9 of the Texas Property Code and encompasses multiple sections to provide crucial information about how trusts should be managed in Texas. If you plan on developing a trust in Texas, it’s important that you […]
How To Divide Inherited Property Between Siblings
Executive Summary Introduction When people pass away, they often leave behind bank accounts, investment accounts, retirement accounts, real property (homes, rental properties, etc.) and other personal assets as inheritance for their survivors. But how do two or more siblings divide up inherited real estate and other property? This question has caused countless family quarrels. However, […]
How Many Days Do You Have To Contest a Trust?
Typically, if you are a beneficiary of a revocable living trust or an heir of a trustor or grantor (the person that created the trust), you have a minimum of 120 days to file your contest petition in the appropriate court, at least in California. The 120-day time period may seem excessively short, but statutes […]