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?
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...Read more »
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...Read more »
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...Read 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... Read more »
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...Read more »
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...Read more »
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...Read more »
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...Read 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.
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...Read more »
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...Read more »
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...Read more »
I have my dad's Will. It names me and both my brothers as the homeowner's in the event of his death. My brother's want to quit claim deed their share to me since I live in the house and need to get it in my name to get homeowner's insurance on it. I was told it has to go through... Read more »
I am sorry to hear about your father's passing. I would suggest either saving up the money to hire an attorney to help you get the house through probate, or attempting to open the probate process on your own. If the real estate has value (presumably it does since you want to get the house into...Read more »
I would discuss this question with the attorney handling the estate of your father, or whoever drafted the disclaimer for you to sign in the first place. It is likely it is too late to take back the disclaimer, unless this occurred very recently, however there may be a way for your sister to gift...Read more »
If your grandmother passed away without a Will, someone is going to have to petition to open a probate case for the Estate in the County in which your grandmother resided at death. Then someone will also have to volunteer to serve as Personal Representative (aka Executor) of the Estate (likely one...Read more »
Hello, I am sorry to hear about the death of your sister. If your sister's Estate had no other assets, and there are funeral debts outstanding, then in a situation where you were not receiving SSI benefits you could use that money to pay for her funeral. However, normally, her Estate would pay...Read more »
No home, no car, no investments , no life insurance, no death benefit on her pension income, just household items. Do I have to set up a probate case? How do I handle her remaining medical bills. She has no other debt, just medical bills that exceed her assets. Do we have to sell her household... Read more »
I am sorry to hear about the passing of your Mother. In Wisconsin, for small estate less than $50,000 in value, there is a transfer by affidavit process to transfer assets when the total value of the estate is less than $50,000. In this case, if there are no financial assets, and no real estate,...Read more »
Uncle Billy passed away estate years before my Uncle Bobby passed away. My mother inherited my uncle's bobbies estate because she was alive when he passed away So when my mother passed away my mother's inheritance from my uncle Bobby's estate went to her three... Read more »
If both Uncle Billy and Uncle Bobby passed away without a Will, then the Estate of each one would be governed by the Wisconsin basic rules on intestate succession. Those rules are found here in Chapter 852.01. Under Chapter 852.01(2) there is a survivorship requirement, and that requirement is...Read more »
Hire an attorney right away. I have seen this scam before. After a period of time the statute of limitations expires and you lose your right to claim the money that was stolen by a relative that was supposed to turn over the money to you. You are an adult now and have the right to see all of the...Read more »
I recommend you review the trust agreement itself to see if it has a provision about "uneconomical administration" where it lays out a procedure whereby you can terminate the trust. If not, you may need to rely on the provisions of the default Wisconsin Trust Code. In some instances, it...Read more »
There are many issues raised in this scenario. First, to sell any property of your mother for less than fair market value would be a breach of fiduciary duty on the part of your sister. Second, any sale for less than fair market value with be counted as a "gift" and if your mother ever...Read more »
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