I am a 50 year old woman living in California. I never married, have no kids and minimal assets (I own my car and have about $1000 in the bank). Both of my parents and my siblings all live in Pennsylvania. I'm starting the process of "getting my affairs in order" and think the first... Read more »
California. You live here and that is where the Will would be Probated.
Your estate sounds like it would use Simplified Probate (less than $160,000 and no real estate) so the Will won't go thorugh "real" Probate anyway.
And son or daughter is not listed as a beneficiary on the policy?
The money goes to the estate of the deceased beneficiary. Then it is distributed based on their Will or the law (if they died without one).
In 2001 I married xxx, and she took my name. She died of leukemia in 2005. She had no will, but also no significant property so whatever she had just came to me. From time to time over the years I’ve received mail addressed to xxx from the IBEW (she had been an electrician at one time before I... Read more »
First of all, tell Fidelity that she passed away. If it was a retirmenet account then there is a beneficiary named by her and Fidelity will want to send that person the money; no fuss, no muss. If that person is NOT YOU then you might want to get angry if the money was earned during your... Read more »
My grandmother left her home to her five children in a living trust, and my mother and uncle are requesting to leave their shares to me. The property cannot be sold unless all five children agree to sell it, and currently my mother and uncle are living at the property with myself. They would like... Read more »
Is the property still held by the Trust? If it is, then only the Trust can say how it may be passed.
If the Trust closed down then the Trustee should have deeded the house to the five siblings; then if they want to pass you their 20% interest they can do so with a deed.
Hello,
If i am adding a beneficiary to my trust and wish to assure them I will not remove them as beneficiary ever, is there a legal agreement that can be signed stating they and I must mutually agree before they can be removed?
So you want to protect them from you ever changing your mind?
They only way I can think of doing that would be to have a new irrevocable trust (I am assuming your current one is a Living/Revocable Trust). As long as you are alive you can always change your Living Trust.
You could... Read more »
the asset is a home that is now in my sisters name.
I am afraid that if her name is on the asset, then it belongs to her and the Will had no control over it (unless the deceased's name is on the asset too, in which case it gets harder and depends on exactly how the names are on the paperwork).
This would be after her passing.
A letter won't do it because after her death, someone else will own the property and the letter won't have any power.
I am guessing that she wants him to be able to live there for X years, then the property will go to her heirs. That is done best in a Living Trust; it can also... Read more »
My mother has had her husband (my stepfather) as the executor to her individual trust for 30 years, but due to his dementia he is unable to handle the responsibility after her death. When I use the word executor I'm referring to the person who will manage my mom's trust and assets after... Read more »
If it is her trust, then she probably has the authority to fire the trustee. You have to read the trust.
3 older sisters involved . I’m the youngest. And then there is the younger ,greedy widow.
Go look up the documents.
Go to the Probate Court for the county where he lived and look him up. If there is a Will then it was filed there and you can see it. If not, then you will find out if the family has started other proceedings. If there is no Will, then you are entitled to a... Read more »
You can make any trust into a Grantor Trust, where the original grantor (settlor; the guy with the money) just keeps paying the taxes himself on his 1040. Trusts have a very high tax rate so most people do it that way.
When the grantor dies (even of a Living Trust) then you have to get the... Read more »
The lawyer put himself as executor before heirs. Now they want to make an heir their executor. Also in their trust the lawyer is listed as a trustee. Do they need 3 separate codicils? One each for their wills and another for the trust? They don't want to spend money to do it all again.
Yes, the need to make formal changes to these documents, except to change a Trust you make an Amendment. So, they want two Codicils and a Trust Amendment.
If you are doing it yourself, be VERY careful to make sure you write exactly what you want with no ambiguity.
Unless a Court created the Trust then you are free to do what you want with it.
But there is no reason to "transfer" a trust. Except for self-settled irrevocable trusts, they are all pretty much the same and the states will recognize the other.
I am not even sure how you... Read more »
I have not filed any paperwork with the state. There is NO property other than books, furniture, personal items etc. and his insurance.
If there is no Will and no Trust and nothing but some personal property, then you really have nothing to do except take his personal items and distribute them. You and his mother will have equal rights to the belonging. If there are bank accounts then you need to use the money to pay his bills,... Read more »
My mother has alzheimer's and wanders out of her yard into the neighborhood but my father is in denial about her condition and puts her in dangerous situations. He refuses any help from the family. Is there a way where my brother or I could get legal guardianship over my mother?
Conservatorship is a big step. It takes months, you need a doctor's opinion, and if your mother objects to it then you will not get it granted without a fight (a trial). If your father opposes it, then you have a different fight but still a family mess.
For an unlicensed person to give you legal advice is against the law. There are services and on line sites that give you a way to draft your own documents but they don't give advice. You can even buy a book.
A Will is pretty simple until you start trying to account for asset... Read more »
We have a 5 unit property that we purchase cash with my inheritance that I received from my mother in Austria. We have no children. We have a living trust, it is named in the trust, but we want it to go back to my family once my husband and I are gone. The way the trust reads is, that everything... Read more »
I wouldn't record it outside of the Trust because you would lose all the advantages the Trust provides (like avoiding Probate).
Just amend the Trust to read what you want instead of the "50-50" split you have now.
Can the power of attorney evict us?
No, the Power of Attorney was only valid while your uncle was alive.
The person with control over the property now is the Trustee (if it is in a Trust), or the Executor appointed by the Probate Court.
Before passing, she showed me how to access the account and that she was glad it would help us. My husband didn’t know about the account value until I told him about it after she died. His grief pushed him over the edge, he got a girlfriend and left me after obtaining this account. Divorce has... Read more »
If she never put your name on the account and never left it to you in a Will or Trust, then it belongs to him and him alone. Any inheritance like that is Separate Property and not Community Property, so you do not have any rights to it.
Sorry.
But if you are hiring a divorce... Read more »
Had been in a Skilled Nursing Facility since the injury. But currently in Kindred Hospital Ontario. Waitng to be transferred back to Inland Valley Care in Pomona. Hopong to get him transferred to Lancaster, to be closer to home. He's receiving Military pension, VA Disability and Social... Read more »
Conservatorships come in two types: the person and the estate.
Conservatorship of the person allows you to make medical and personal decisions. Conservatorship of the estate allows you to handle his finances. Both take a few months to get (add an extra couple months due to the Corona... Read more »
Was the contact and his emergency contact for him when in hospital. He was hospitalized since September 2019 & found out he had lung cancer as well as other GI problems. Went home on his birthday January 31st. He was getting stronger but I got sick and was unable to see him. Then I got busy... Read more »
No.
I am sorry but last wishes must be in writing, ether handwritten and signed or typed and witnessed.
Any assets that he left behind belong to his creditors and his family (even if they cannot be found). Eventually some asset search company will find this abandoned money and look... Read more »
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