How to distinguish assets belonging to a deceased person’s estate from those held by a corporation established by a relative in Rhode Island
How to Distinguish Estate Assets from Corporate Assets in Rhode Island Detailed Answer When someone dies, their personal property and real estate that they owned in their individual name become part of their estate. A corporation established by a relative, by contrast, owns its own assets under Rhode Island law. Identifying which assets belong to […]
Read article →What options exist for selling or auctioning personal property to reimburse estate expenses and equalize distributions among heirs?
Detailed Answer Under Rhode Island law, an executor or administrator may sell personal property in an estate to pay debts, cover administrative costs, and equalize distributions among heirs. Two main options exist: private sales and public auctions. Both approaches require compliance with R.I. Gen. Laws chapters 33-23. 1. Executor’s Power to Sell Personal Property R.I. […]
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