 British Citizens: What do you feel is the reason that we are having to pay so much for taxes etc? |
| I'm not being Racist, but i feel that part of it is to do with all the Immigrants coming into the country, we are having to pay for housing, benefits etc and jobs are going to them as they are ... |
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 Is it possible to live well with £50,000 per annum in UK? |
| I have seen the salaries in UK, i think they aren´t so high in comparison to the cost of life in UK...... |
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 Does anyone feel desperate over this tax rebate mess? |
I sure do!
Additional Details
All the different stories. All the confusion. Yeah I'm glad to get the money, but I needed it like yesterday.... |
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 What if someone claimed my child for the 2006 tax year and then I unknowingly claimed him too? |
| Someone claimed my child during one of those "Early Refund" promos at Christmas time, Just 2 weeks ago I filed my taxes online. This someone decides to contact me today to tell me this. W... |
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 Why do i pay federal incom tax? |
| is thear a law that i pay a income ... |
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 My paycheck!!!? |
| well i have been working for 5 days already....at albertson's and i am getting payed for the orientation...which was 4 hours ....$30....and these other five days....for 9 hrs...and i we get ... |
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 How can I get my husband to claim less exemptions on his W4. He is claiming 11.? |
| He alone made $40,000.00 and only $99.00 was paid into federal. He did this last year and I refused to file married filing jointly. I got a small return and he owed more than $3000.00. He again ... |
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 Can you get your paycheck reprinted if lost? |
| i cant believe it but we lost my husbands paycheck will his employer offer to reprint a new ... |
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 Better of on benefits,? |
I was thinking about getting my first ever job but after calculating the the cost involved I might as well clame benefits.
If I was working I'll be making minimum wage £185 for a 37 hour ... |
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 How do you add sales tax? |
ok i live in kentucky and sales tax is 6% and the item is
149.70 help ... |
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 Is it possible to survive in U.S. with $65.000 salary ? |
| As I`ve noticed from yearly statistics, the average salary in my profession seems to be $65k per year in U.S. (I`m currently in Europe and have a B1-Visa, though my wife and kids don`t have VISA). <... |
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 How much does a uk paper round pay? |
| in in the uk so only tell me in pounds plz, just woundring how much does it pay?... |
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 Does anyone know if the government stimulus paper checks have gone out as yet? |
| has anyone received a paper check or a letter stating the check is on the way and the amount they will be recieving? thanks for your answers.... |
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 I know someone that lied on their taxes... What are the consequences?? |
| My friend found some guy to make her a fake W-2 form that lists her income as about $20,000 more than it really was for 2006. She got about $4,000 back and the guy took half for his services. What ... |
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caro1234 | Are Executors of Wills responsible for the debts of the person who died? |
tax debts |
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Max
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No |
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old know all
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Yes. The executor needs to draw up an account and pay all the debts before the estate can be distributed. However, the executor is not personally liable if the estate isn't enough to meet all of the debts. |
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Sparkles
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The executor is not personally responsible to pay from out of pocket the debts. The executor is responsible for paying the debts from the proceeds of the sale of the estate after the estate has come out of probate. |
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punkpanther
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No, but they are responsible for ensuring that any debts are payed from the estate of the deceased. |
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Mike
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2. Executors
A person or persons will need to be responsible for administering your estate upon your death. If you appoint someone to do this in your Will they are called "executors". Their main functions will be:
-To ascertain the value of your estate and prepare a schedule of the assets;
-Unless the estate is very small, to obtain authority from the Probate Registry to administer the estate; (a similar process in Scotland requires the executor to obtain "confirmation")
-To pay any debts due, including inheritance tax;
-To distribute the residue of the estate to those persons entitled, either in terms of a Will or by legal entitlement.
You should appoint those persons whom you feel will be able to cope with the difficult (and sometimes distressing) task of administering your estate and it is important that you check that they are willing to do so. People often appoint close family members or professional advisors such as an accountant or solicitor.
You are responsible for paying the deceased debts out of the deceased's assets NOT out of your own pocket |
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jokerman131
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no /they are not personally responsible |
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Judy1
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If there's enough money in the estate to pay them, the executor is supposed to do that before any distributions are made to heirs.
The executor is not personally responsible, from his/her personal funds, for debts of the deceased. |
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breedgemh_101
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An executor is not responsible for these debts. Jim |
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andrew f
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Yes, executors in the UK are liable for all the debts of the deceased, including tax, but only up to the extent of the assets of the estate. .They don't have to make up any shortfall out of their own money, or anything like that.
The debts must be paid before any legacies etc are distributed to the beneficiaries. If it looks as though the estate might be insolvent, advice from an insolvency practitioner should be sought, because there are rules about which creditors take precedence, and breaking the rules might leave the executors personally liable. |
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nephtine
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Not personally but as someone else said, they are responsible for ensuring all outstanding debts are paid from the estate of the deceased. The only time an executor is personally liable is if they are found to be in breach of trust/duty as an executor, ie, if you were mishandling funds or didn't follow the wishes of the deceased as outlined in their Will.
That's how I was taught about 15 yrs ago BUT things have changed so may be worth seeking legal advice on this.
I'm chief executor on my mother's Will....she's still alive thankfully BUT it's never a position you should accept unless you fully understand what you're getting yourself in to!
Good luck! |
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Polo
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Only up to the value of the estate. |
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Tickerbiller
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I recently lost my husband and when we did a joint will we appointed our local bank to be executors of the will. My husband's estate was under £5000 so it did not need to go to probate so the bank renounced the estate over to myself. Now if the decease's estate has gone to probate and there is more than £5000, then whoever has been appointed as executor will be responsible for paying any remaining debts the deceased had.
Once the debts have been paid off to the creditors then the remaining monies within the estate will be handed down to the beneficiary i.e spouse. Good luck |
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lulu
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No, their only responsibility is to ensure that the conditions of the will are met. |
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friendof93
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no, i don't think so, well i am not to sure |
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michael b
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NO THEY ARE NOT..MOST DEBT WILL GET SQUASHED WHEN YOU DIE |
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