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In Mutual Life v.Armstrong (1886), the first American case to consider the issue of whether a slayer could profit from their crime, the US Supreme Court set forth the No Profit theory (the term "No Profit" was coined by legal scholar Adam D. Hansen in an effort to distinguish early common law cases that applied a similar outcome when dealing with slayers), [1] a public policy justification of ...
A probate sale is the process executed at a county court where the executor for the estate of a deceased person sells property from the estate (typically real estate) in order to divide the property among the beneficiaries. There is a personal representative of the estate who will determine if the real estate is going to be sold.
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
“If you buy a painting for $10,000 and then sell it for $25,000 the IRS taxes the capital gain of $15,000,” he said. ... kinds of property, many people pay taxes they could have avoided if the ...
Inheritance taxes are paid not by the estate of the deceased, but by the inheritors of the estate. For example, the Kentucky inheritance tax "is a tax on the right to receive property from a decedent's estate; both tax and exemptions are based on the relationship of the beneficiary to the decedent." [52]
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