if your dad wants to give his house to your sister he may do so by deed now. He should however meet with an estate planning attorney since the gift of the house may change his mind about sharing the rest of his estate equally among the 7 children (since your sister would then get the house + 1/7...Read more »
you will have to look at the Deed. "Joint tenancy" can be either Joint tenants with the right of survivorship (in which case the survivor of the two joint tenants owns 100% of the property) or tenants in common (in which case your aunt can state in her Will who inherits her 1/2 of the property)
There is not enough specific information here to give you any specific answers. There is no requirement to open an Estate administration every time someone dies. If there are no assets to collect and no debts to pay it may be possible to avoid an administration. There are times when companies...Read more »
you have a number of issues going on that make it too complicated to give you a short answer in an email like this. you need to meet with an attorney with experience in probate and real estate to determine what your obligations and options are, especially if you are the estate administrator.
There are a lot of unknown facts in your question/scenario which require review of existing documents ( the Company documents -Bylaws or Operating Agreement / Buy-sell / your loans to Company) (the Assignment of patent rights) and possibly some research regarding registration of the patents and the...Read more »
You will need to meet with an estate attorney to review the Deed and your dad's Estate (if there is one). There are several steps you can take to protect yourself, including not opening an estate and having the executor refuse to accept the property, but you will want to review your options...Read more »
You do not have to file a 1041 / PA-41 if the Estate did not have any income. Some individuals file a -0- income 1041 and PA-41 and check the "Initial Return" and "Final Return" boxes on the returns to create a record that the Estate did not have any income and will not be...Read more »
There are limited opportunities where the issuer of the check may be willing to issue new check to surviving spouse or surviving child. Banks and brokerages will usually require proof that funeral was paid for.
When is she entitled to that income--upon the death of my father(1) or upon the official establishment of the trust(2) And if answer is (1) how should the payment of these expenses be allocated between income and principal? Thank you.
This is a general answer to your questions since to give specific answers one would have to review the Trust document itself. You refer to a Testamentary Trust, so by definition the Trust does not become effective until the death of your father. You then refer to "payment of these...Read more »
Everything else of the deceased was jointly owned except for the PayPal account. The PayPal account is tied to a jointly held bank account. Can the surviving spouse transfer the money into that account? Can PayPal be required to release the money with just a death certificate? Would anything else... Read more »
Have not tried it with PayPal yet but most banks will release accounts of less than $10,000 when provided with copy of death certificate by surviving spouse and proof that the funeral has been paid for
Assuming that your daughter had no Will, was not married and had no children, as the surviving parent you should be able to go to bank with a copy of death certificate and proof that the funeral has been paid for and the bank should then be willing to give you the money since it is less than...Read more »
My Mother left a Will pertaining that my if my sibling no longer live at resident the house has to be sold.The sibling wasn't living there when the Will was written hasn't live there for over 2 yrs. never changed there mailing address so all the mail goes there,another sibling and... Read more »
This is a case where cannot give you an answer without reading the exact words of the Will. But in general conditions in a Will such as this are enforceable. So if the Will names a particular sibling, and states that the house is to be sold if that sibling is not living there, and that sibling is...Read more »
You state that you have separate Wills, but it is not clear if you are leaving everything to your husband if you die first (in which case his Will would control all assets when he dies (and vice versa if he dies first) or if you are leaving your husband out of your Will and trying to leave all...Read more »
My father, whom I was estranged from, died in April 2020. I am curious about his will and would like to know its content. I have no idea who the executor is or if there is one. He died in a nursing home. County says no will has been registered at this time. 1) Does someone have to file a... Read more »
Your post shows Oregon as the origin so I will start off by saying probate is state specific, depending on where the decedent resided at the time of death. That being said, in Pennsylvania there is no requirement to probate a Will unless the decedent had sufficient assets to open an estate, and...Read more »
This is not the kind of question that you can get a general answer to. Many questions such as does dad live in Pennsylvania or in Puerto Rico. And where were they married? and does dad have a will? you (and dad) will need to meet with an experienced estate planning attorney to make sure dad has...Read more »
I have registered an LLC called XYZ INVESTMENTS. With this newly registered entity, I have invested in a produce store called FRESH PRODUCTS, and bought 25% share under XYZ INVESTMENTS in FRESH PRODUCTS business. Now FRESH PRODUCTS has 4 business partners (which also includes my LLC - XYZ... Read more »
there is no way to give you a general answer to this question. the primary document you need to review is the Operating Agreement or Partnership Agreement for Fresh Produce. Most agreements have provisions that either allow or prohibit the partners/members from engaging in competitive businesses...Read more »
you really need to meet with your own business attorney to discuss not only the sale of the recipe but also all the issues with being a less than 50% owner in someone else's business. you may prefer a royalty agreement (% of sales) to being a co-owner
My brother says since he shared a joint account with my mother when she passed he is not legally obligated to split the estate and inheritance. And all her money belongs to him. She had no Will from what I understand which means her estate should have gone through the probate process.
you should consult with a lawyer familiar with estates on this. the answer is "it depends" if the only asset mother owned was the joint account with your brother there is a good chance he is correct. but there are other factors which could be involved which could change that answer
Grantor still alive, Pennsylvania. All other assets divided evenly. Trustee-brother wants to sell, put back in trust so that he can take HALF of proceeds of house upon grantors death instead of daughter getting 100%. Commingling?
there are so many unanswered questions here. Would have to review documents, relationship between the parties, timing and capacity of the Grantor. First step would be to meet with an attorney to start to review all of the above
like so many legal questions "it depends". The questions are what type of trust is it (revocable or irrevocable), is the beneficiary a lifetime beneficiary, and is the beneficiary a vested beneficiary or a contingent beneficiary. You will have to start with the family lawyer and if he...Read more »
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