My father passed away and was the vendor in a land contract agreement with my aunt. There is nothing about survivorship rights in the contract. I need to inventory his assets for informal probate. How do I account for his interest in the land contract as a vendor at the time of his death? Is he... View More 
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answered on Mar 14, 2024
The contract for deed is a chose in action which is personal property. It is an Estate asset, for which the fiduciary can sue on or be sued to enforce. Your lawyer should know this. Its value can be easily computed by the amount owed on the contract. The lessee Aunt has the risk of not... View More
There was suppose to be a POD on her account but they can't find it. We live in Wisconsin.
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answered on Jul 17, 2023
If you cannot convince the Bank to transfer funds with an Affidavit of Heirship/ Next of Kin, then it may not be worth the time and money to get the funds. Call a WI attorney about a possible summary probate or Affidavit, but it may be best to forget about those funds. Banks keep... View More
Does that stock get split also even though there's a beneficiary?? Beneficiary is my sibling. My father was taken to bank by said sibling and that's why his name is on the paper??
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answered on Jun 5, 2023
Stock Certificates do not have a beneficiary. The owner(s) name is listed. If stock lists another owner other that Father, then that person owns some interest, probably the entire stock. It is doubtful that Father died owning that stock, so it is an asset passing outside of the Estate.
My brother and I were jointly gifted 20 acres of land in 2008 by an uncle. We have had the land surveyed and are splitting it into two 10 acre parcels (all of this has been completed) We want to draw up a legal agreement between us that neither party can sell their property outside of our family.... View More
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answered on May 31, 2022
You need a competent WI attorney to draft both Deeds with enforceable Restrictive Covenants in the Legal Descriptions. Your possible contract would only be enforceable between the contracting Parties. Covenants Running with the Land are necessary.
My partner and I own a house together and have one minor child together. He has no other children and does not have a will. If he were to die, what would happen with the house? Would I be able to take over the mortgage? Would I be responsible to pay off his car and credit cards before I could do... View More
answered on Nov 9, 2021
Hello, if you are unmarried and own the house together it will depend on how the title to the home is held. This will be reflected on the deed when you purchase the property. If you are both on the title to the property, then it depends on if you hold title as "Joint Tenants with Rights of... View More
answered on Oct 27, 2021
After an application for administration has been filed (a probate court action has been initiated properly with the probate court) creditors have from 3-4 months to file their claim. The Court will set this deadline for a formal administration or the probate registrar will set the deadline for an... View More
He has no will. If he passes does the house transfer to me and I take over payments or does the bank get it. I’ve been living there for years
answered on Oct 13, 2021
Hello I am sorry to hear about your father. If he has no Will or Trust, then the house and any of his other assets subject to probate would pass according to the laws of intestacy. If you are the only living child, you may be an heir, but if there are other children, or a surviving spouse, then... View More
What legal right do they have to do this and what are the other owners rights for seeking entry into their own property?
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answered on Sep 22, 2021
A co-owner does not have the right to exclude another co-owner. You can take the owner that locked you out to court for a variety of remedies but probably the best remedy in the long run would be for you to obtain a court order to force the sale of the property and then split the proceeds. If you... View More
Her spouse is deceased & my spouse is her only living child. Her mobile home has a fair market value of $25K but we will end up selling for $13K & have a willing buyer. The home is paid off & there are literally no other assets. She most likely has up to $10K owed through medicare... View More
answered on Sep 10, 2021
Yes, you are correct you can use the Transfer by Affidavit method to transfer the mobile home if the total probate assets of the deceased subject to administration are less than $50,000. There is a section on the Transfer by Affidavit where you must send notice to the Estate Recovery Program via... View More
Nothing was signed by us and we didn't even know it existed. we waited for wheat to be done being harvested and now want to get rid of them so that we can plant our trees.
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answered on Jul 24, 2021
Your question cannot be answered without more information. Is there a written lease agreement? You will need to get a copy of that. Have you tried talking to the tenant about his intentions? Did the seller represent that there were no leases?
will created and signed in California for a now Wisconsin resident
answered on Jul 8, 2021
That depends on certain situations. In general, for a will, the witness must be present when witnessing the signing and also sign indicating that they witnessed the signing. However, during the Pandemic, the Governor of Illinois issued and executive order (2020-14) which allowed for the use of... View More
No mortgage
answered on Apr 26, 2021
Hello, if you want the property to pass to the surviving spouse non-probate upon the death of the first spouse, you can title the property as "John Smith and Jane Smith, husband and wife as survivorship marital property" for example. "survivorship marital property" is the key... View More
answered on Mar 9, 2021
Hello, if it is a Pour Over Will it sounds like it was designed to be used with a trust. So first I would examine all of the assets and see if there are any that have not already been titled in the name of the trust. All assets that were placed inside the trust do not need to go through probate, as... View More
She had a car loan that was upside down. It has been repossesed already. The bank is saying we (me & my 2 brothers) will owe the difference of what they get at auction & what she owed. None of us were on the loan with her, it was solely hers. Do we actually have to pay that? Keep in mind... View More
answered on Nov 18, 2020
The good news about death, is that the debts of the decedent die with them. I am sorry to hear about the loss of your mother. Any debts she owed at her death would be owed by her estate. So if she only had $300 total to her name and that is the total amount in her estate, this is the limit of what... View More
There is still a mortgage and home equity loan on the home along with other debt my dad owes and my husband and I are looking at selling a buying a new home in the next few years.
answered on Nov 11, 2020
I often advise clients not to add their children to the title of their home, because it can inadvertently expose the parent to creditor claims of the child through divorce, bankruptcy or a lawsuit. However, for you, if your Dad adds you to the title to the home, you would immediately become liable... View More
answered on Oct 8, 2020
I am sorry for your loss. If your daughter-in-law named your son as the primary beneficiary, then he would receive the proceeds if he survived her. If she named a contingent beneficiary, then that person would receive the assets if your son did not outlive the survival period outlined in the... View More
answered on Oct 7, 2020
There is no one answer to this question. Whether you have the ability to end the easement, is going to depend on a variety of factors, including the original language in the document in which the easement was granted. I suggest reviewing the deed with the easement language in it with a qualified... View More
Power of Attorney documents were drafted for my father, with my sister and I listed as primary and alternate agents. I was living out of state when they were drafted, and didn't sign them, but everyone else did. Also, my address and phone number listed in the documents are not current.
answered on Sep 18, 2020
Hello, I cannot be certain without examining the document completely, but it sounds like you are talking about the line on the document where sometimes the Agent signs to acknowledge that they have been named as Agent (usually somewhere after the principal's signature). I know at my office it... View More
She wants to leave the money she has to my trust and not spend more money on one of her own. Can she do this? Can someone leave assets to a trust where they are not the grantor?
answered on Sep 10, 2020
This is a very interesting question. While it might be possible for her to leave a bequest to your trust, for tax reasons, it might not be desirable. I think you should examine carefully what type of assets she wants to leave to the trust, and the language of your own trust with an experienced... View More
Is there a form (like a pre-nup) but a "Post-nup" per say that I could fill out stating I don't want any of my husbands money if he should pass and it should go to our kids?
answered on Aug 26, 2020
If/when your husband passes away you can work with an attorney to complete a disclaimer, and if your children are the next named beneficiaires in the Will or Trust it would go to them. If your husband is still alive, you could have him alter his estate planning documents now to accomplish this... View More
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