This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Delaware Assignment of Portion for Specific Amount of Money of Interest in Estate in Order to Pay Indebtedness
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FAQ
The Personal Representative of your estate (also commonly referred to as an administrator or executor) is responsible to gather and inventory all of your property at the time of your death, determine all your outstanding debts, pay all of your legitimate debts and then distribute the remaining property in ance ...
As an executor, you have a fiduciary duty to the beneficiaries of the estate. That means you must manage the estate in the best interests of the beneficiaries (and not yourself), taking care with the assets. So an executor can't do anything that intentionally harms the interests of the beneficiaries.
Except where circumstances justify a longer period, an executor or administrator shall have 1 year from the date of letters for settling the estate of the decedent; and until the expiration of that time, the executor or administrator shall not be required to make distribution, nor be chargeable with interest upon the ...
(a) Where 1 or more persons are given authority by the terms of a governing instrument to direct, consent to or disapprove a fiduciary's actual or proposed investment decisions, distribution decisions or other decision of the fiduciary, such persons shall be considered to be advisers and fiduciaries when exercising ...
If you die with a surviving spouse and with children with someone other than that spouse, the spouse gets ½ of your intestate assets, plus the right to use any intestate real estate for life. Your children get everything else. If you die with children but no surviving spouse, your children inherit everything.
Despite the lack of statutory guidance on executor fees in Delaware, the general consensus among legal professionals is that an executor can expect to receive about 2-5% of the estate's value. However, this percentage can fluctuate based on the specifics of the estate and the executor's responsibilities.
Code tit. 12 § 3343. Section 3343 - Authority to allocate trustee duties among multiple trustees (a) The power to appoint a successor trustee under a governing instrument shall be deemed to include the power to appoint multiple successor trustees.
Code tit. 12 § 3339. The appointed designated representative shall serve in a fiduciary capacity, notwithstanding any provision to the contrary in the governing instrument; b.