She was on SSI and medicaid. She has 3 sons that I believe are homeless with no money and her marriage went through dissolution but failed to finalize in the 80's. Estranged husband also homeless with no funds. I don't have the money for standard probate. I am not an heir obviously.... Read more »
I am sorry for your loss. It sounds to me like you would be best off if you handed this situation to the State of Oregon Estate Administration Unit (EAU). Because your sister was receiving Medicaid there is a good chance that all of the assets she owned at her death will go back to the State of...Read more »
If your mother qualifies for Medicaid then this program will be paying for your mother's care facility and prescriptions. In general, the family of a person are not legally responsible to pay that person's bills unless the family member signed a contract with the facility, for example....Read more »
We were looking to do a deed transfer, but I had questions of triggering a capital gains tax, or gift tax. I was advised the recipient will inherit the gift giver's tax basis, thus losing the step up in basis at death that would otherwise have occurred, thus creating in most cases a capital... Read more »
Example: father purchased the property for $50,000 in the 80s. His orignial "tax basis" is $50,000. So that if he sells it for $50,001 he has a gain of $1. Now its 2021 and It is now worth $200,000. The built in gain is $150,000.
If he holds onto the property, either as a...Read more »
You are not entitled to copies of your mother's estate planning documents while she is still alive, but your mother is entitled to not only copies but the originals. If she does not know what she signed, then she should demand the originals and read them or have an attorney help her...Read more »
My Grandmother's Mother passed left, which left my grand mother land and mineral. My grandmother passed which My mother then inherited some land and minerals. My mother's brothers and sister decide not to let her children know they inherited land and minerals so the kids never got any... Read more »
It sounds like you have a complicated question with several moving parts. I recommend you bring in all the information you have and meet with an experienced probate attorney who can let you know your rights in this situation.
All valid debts (claims) will be paid through an Oregon probate. The validity of the debt will be evaluated by the Personal Representative. If a claim is disallowed by the Personal Representative the creditor can ask for a hearing and the Probate Judge will determine the validity of the claim....Read more »
If you are Personal Representative for your mother's estate you should ask your attorney this question. In general you can have a realtor create a Comparative Market Analysis (CMA) for you or you can pay for the property to be appraised. However, there are a lot of fact-specific issues in...Read more »
When a person dies leaving a surviving spouse and children, at least one of whom is not by the surviving spouse then the surviving spouse gets half and the decedent’s children ( all of them, not just you) share the other half equally.
My husband and I are in our 60's and in good health, but looking towards our next chapter, we don't have many assets, just a home and car, but want to have our ducks in a row in case of disease, or dementia. I don't want our children to be burdened with any long term care in the... Read more »
The whole point of an IRREVOCABLE trust is you are giving up access to principal (and sometimes income as well), so no, YOU would not have access to the principal to use to pay nursing home expenses. However, depending on exactly how the trust is designed, you might have indirect access to the...Read more »
deceased parents home back in Sept 2019 while living in a care home. I wasn't aware of this check until recently. My mom just passed away a few weeks ago and I just found out that the check hasn't been cashed or found. Her brother, my uncle, said that his attorney said the check has to... Read more »
I recommend you have a probate attorney review this for you. Your attorney will need to see your grandparents' Trust. Very likely since your mother survived her parents but never cashed the distribution check her estate should now get the check (or a new one re-issued by the Trustee). Your...Read more »
It's likely that you have been contacted by Medicaid (not Medicare) because your mother-in-law was receiving public benefits to pay for her long-term care. I recommend you schedule an appointment with an experienced probate attorney to review the claim and advise you.
I received death benefit claim packet from accordia and athene under two different contract numbers not specifying that they were Ira accounts. Then a couple months later I received two more still not specifying they were Ira accounts. Then come to find out after the third that it was all one... Read more »
Athene Annuity sold most of its life insurance business to Accordia in 2013 but continued to administer the business until Accordia took over in 2015. Maybe this was part of the confusion for the IRA you inherited? I'm not entirely sure of your question. I recommend you call the Customer...Read more »
It sounds like your father had a Revocable Living Trust. If your brother is named as Successor Trustee but has declined to do this job then your father's Trust likely names the next person who should act as Successor Trustee. If it doesn't name a second person then there should be...Read more »
There are 3 siblings and the youngest was named executor. She listed a few things that were to go to each of us in her will. I'm curious as to what happens with her real estate as it wasn't mentioned to whom it goes to. She wasn't married at time of death. Does the executor get to... Read more »
A personal representative (or executor) is someone who handles the deceased person’s affairs. A will generally names a personal representative who, if willing to serve and otherwise qualified, will be approved by the probate court.
If your mother owned the real estate in her individual...Read more »
Powers of Attorney don't get "filed" in Oregon. Assuming the Power of Attorney has no expiration date, it remains in effect until the Principal revokes it or dies. Marrying does not automatically give you fiduciary authority over your husband.
Yes, this is absolutely possible and good for you for doing your advance planning. You can start by looking at the Guardian Conservator Association of Oregon https://www.gcaoregon.org/practitioners. You can also hire an experienced estate planning attorney who will give you referrals to...Read more »
family home. I plan to put between $60k-$100k towards a down payment but i want it in my two young adult children name. In other words, I will be a tenant to them... They will be the ones to benefit tax write offs... which is okey with me, also if something has to happen to me, that eliminates... Read more »
I am only licensed to practice in Oregon so I can't speak to Florida law but in general it is better for your children to inherit your property because they receive a stepped-up basis. This means when they inherit your house after your death their new basis in the property is your...Read more »
Dad passed away and he had a trust. He and mom were in memory care for years and went through all of their savings and were on Medicaid their last years. All they have left now is about $1,400 in a checking account. I am trustee of their trust but the bank won't let me take the money without... Read more »
Yes, they are the same but your parents' Affidavit of Trust is no longer accurate because you are the Trustee. I agree that paying for an hour of time from an attorney will solve your problem, however, be sure to speak with an attorney who understand Medicaid Estate Recovery.
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