A father dies, he names 1 of his 4 children as the only executor. The estate owns property that produces income annually. Years later, the executor dies. The executor is survived by his wife and 2 children. Does it go back to the courts? Or does one of the survivors from the executor take over?
answered on Nov 8, 2021
A Family Member that wishes to run the Estate Assets needs to file a Motion for Appointment in the same Probate Court and Docket Number the Will was filed in.
If no Probate, then the Heirs owned all along, which now include the deceased's Heirs. All of the Heirs could declare the... View More
answered on Aug 30, 2021
A power of attorney ends when the principal dies. It also ends when the agent dies, unless there was a successor agent named, in which case it continues in favor of the successor agent.
My grandmother passed away last year. Grandpa already passed years ago. They had 4 children, my mother being the third child. In my grandma’s will, she had stipulated that each of her kids receive 25% of the money she had left behind. However, before she had passed, she had opened a joint account... View More
answered on Dec 30, 2020
Unfortunately, the money in the joint account likely ceased to belong to your grandmother when she died leaving a surviving joint owner on the account. However, if your grandmother lacked the mental capacity to understand what she was doing in setting up that account or in transferring funds into... View More
Won't let me edit main question, but please read-on... I purchased my fathers remainder interest last year at a value based on Minnesota's "Life Estate Mortality Table" which seems to be the same for all states. I fixed-up the home and am selling so will need to calculate value... View More
answered on Jul 8, 2020
Your basis in the remainder interest is what you paid for it plus any other costs of acquisition, such as recording fees and documentary transfer taxes, if any, and title and escrow fees, if any. As far as the sale price goes, it is whatever the market will bear. Consulting actuarial tables is... View More
answered on Feb 26, 2020
If your mother died without a will or trust or if her will or trust provides for outright distribution of your inheritance to you, then the best you can do is create your own first party supplemental needs trust if you are still young enough to be eligible. There are other options such as a pooled... View More
answered on Jan 27, 2020
You will need an attorney who specializes in Estates, Trusts, and Probate.
ok what the deal is when my dad passed away I had to sign for a release of a death certificate of my dad with the funeral home for my stepbrother who is not a biological son of his. But yet they gave my dad's girlfriend 10 death certificates without me signing for the release of any death... View More
answered on Dec 23, 2019
Obtaining a death certificate in Minnesota is a pretty simple process. The Office of Vital Records is responsible for maintaining death records. Each county has its own office location.
To receive death certificates you must complete an application requesting the certificates, provide valid... View More
answered on Dec 18, 2019
Usually, until a court order is established either parent is entitled to possession of the child. Some states give the mother possession depending on the age of the child. Seek the advice of a family law attorney as soon as possible.
Are confused
answered on Nov 19, 2019
I'm unsure why this is posted in the Minnesota jurisdiction, but the answer should generally be "no". A Trust is a vehicle designed specifically to avoid probate, no matter where it is created or where the person who created it (called the Settlor or Trustor) passes away.
The... View More
My 79 yo father created a revocable trust in 2015, he was original trustee. Trust named his 6 children as equally-divided beneficiaries, & the "beneficiary's issue" if the child has died. My brother died March, 2019; my father died August, 2019. My brother married twice. No... View More
answered on Nov 14, 2019
That mistake is probably going to be difficult if not impossible to correct. This is why estate plans should be reviewed and updated periodically. The only way for any attorney to be able to provide you with definitive advice would be to review the actual wording of the trust instrument. This is... View More
We have very little money and possessions. If I die first, I want her to have the benefit of any finances remaining. I will soon be assigning an executer and durable power of attorney and just want her to be taken care of.
answered on Oct 13, 2019
To complies your goal of leaving everything to your wife, a wil gets the job done but if she is not good with handling her finances trust is far superior because it avoids probate and her inheritance could remain in trust under professional management.
If you are concerned about her... View More
I have three other siblings whom three of us had borrowed money in the past. I borrowed $6,000 in 1983 and paid it back nine months later. I have a sister that borrowed $5,000 in 1975 and never paid it back. This is noted in the will.
Can I charge her interest on the amount or at least... View More
answered on Sep 26, 2019
This question really cannot be answered without reviewing the precise language in the will and the promissory note evidencing the $5,000 loan. The question about whether the loan bears interest is actually a little more complicated than you think. It gets even more complicated if there is no note... View More
My grandmas conservator chose to remove beneficiaries of investment annuity accounts and transfer them into her estate for probate. My grandma already had assets in her estate to cover any expenses, and after she was deemed incompetent by the court, her attorney submitted a new will and sealed it... View More
answered on Sep 6, 2019
There might have been legitimate reasons, but it sure does sound fishy to me. If I were you, I would hire a local probate attorney and petition the court to appoint you executor and to probate her previous will or, if you can't find it, to probate her estate as an intestate estate. That will... View More
This is a lake property. In past years we ran it as a resort. For 20 years I worked (unpaid) at the resort. I feel I have a vested interest in the property. My parents want to transfer the property to me and move to senior living. We met with an attorney. She gave us two options. My parents could... View More
answered on Aug 30, 2019
An irrevocable trust that does NOT reserve to the settlor the ability to change beneficiaries but it still classified as a "grantor" trust, the assets of which are includable in your parents' estate, would solve your problem with respect to ensuring you get the property eventually... View More
The seller won't be at closing and pre-signed all paperwork but the title needs to be transferred to a trust without ever being put into the name of the buyer. It needs to go directly into a Trust. Can this be possible if the seller pre-signed?
answered on Aug 24, 2019
If the seller has already signed the deed to the buyer, then no, not without having the seller sign a deed directly to the trust instead, and if you are going to do that, then there are other papers that will need to be signed and some redone as well. There needs to be an assignment of escrow from... View More
She was adopted as a baby and is now 42. If she doesn't have a will, or that her wishes are spelled out, will her biological mother/siblings be entitled to what she owned after she passes away, or would it go to her adopted family?
answered on Aug 20, 2019
If someone passes away without a Will, they are deemed to have died Intestate. Minnesota then sets forth a "default estate plan" for the person. This default plan basically sets forth that the persons closest living family members have priority to act as the Personal Representative (or... View More
In his personal bank account. She said that in a few years when she is in a lower tax bracket then she would give it out. Nothing went to probate and has done not followed thru with her fiduciary duties. He passed in 2017. Can creditors come this late collect any monies?? This has been difficult... View More
answered on Aug 15, 2019
This question should be reviewed in detail by a probate attorney. The largest issue here is probate assets versus non-probate assets. While your sister may be the Executor of the Will, this only extends to probate assets (or assets in your father's name alone with no beneficiary designations... View More
I don't have a formal complaint. But what if I find out months after I sign that she stole from the estate?.
answered on Aug 15, 2019
Prior to signing a receipt and release of the Executor (or Personal Representative), a beneficiary of the estate has the opportunity to review a detailed accounting of the estate. An accounting should set forth the probate assets and the payments made by the estate. These payments can include... View More
Nothing was filed in Probate. No executor nor representative was appointed. As far as I can tell, no one had a legal right to even enter the deceased person's apartment, let alone remove all property.
answered on Jul 16, 2019
As a criminal defense lawyer, I don't know which, if any, such law exists. Perhaps it does. When someone claims a law, unless it's a criminal law I generally ask them for the Statute citation number. Then we can read it online. If the problem relates to disposition of the personal... View More
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