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The executor of a will is typically paid at least a nominal fee. Executor fees are mandated by state law unless the decedent specifies in the will how much the executor should be paid ...
Only two states (Nebraska and Pennsylvania) tax bequests to lineal heirs. Top tax rates range from 4.5 percent (Pennsylvania on lineal heirs) to 18 percent (Nebraska on collateral heirs). One state— Maryland —imposes both types of taxes, but the estate tax paid is a credit against the inheritance tax, so the total tax liability is not the ...
A: The executor fee is calculated in many states as a percentage of probate assets, not time spent. Probate assets mean the decedent's assets that pass through the estate and not by beneficiary ...
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
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The United States District Court for the District of Pennsylvania was one of the original 13 courts established by the Judiciary Act of 1789, 1 Stat. 73, on September 24, 1789. [ 1 ] [ 2 ] It was subdivided on April 20, 1818, by 3 Stat. 462 , [ 1 ] [ 2 ] into the Eastern and Western Districts to be headquartered in Philadelphia and Pittsburgh ...
An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator. After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly.
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