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... Read more »
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...Read more »
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...Read more »
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...Read more »
What can I do? She apparently has a joint account with her partner that is hospitalized and will likely end up in a nursing home by his kids. We have no information about where anything goes as his family took that over.
Hello I am sorry to hear about this situation with your Mother. If she has a joint bank account with another person, then generally here in Wisconsin the last surviving person ends up as the owner of that account. In Wisconsin it is possible to name a "Payable on Death" or...Read 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... Read more »
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...Read more »
We bought a mobile home only his name was on the title. I'm trying to sell the house now but was told by the realtor to contact a probate lawyer to see if I have the right to sell. The mortgage company has me sign a form starting I would be taking over the mortgage
Hello, I am sorry to hear about the passing of your husband. If his name alone was on the title, then you may need to pursue a probate court action to get the mobile home titled in your name before you can sell or transfer title. If the total probate assets held in your husband's name are less...Read more »
It sounds like your brother send you a Waiver and Consent for informal probate, to allow the Will to be admitted to probate and to consent to his appointment as Personal Representative under an informal administration. If you do not sign the Waiver and Consent, then he cannot be appointed as...Read more »
We have put offers in on multiple properties. We started to offer on the last home on a Thursday. On Monday the realtor asked that we remove a home sale contingency and wrote a new offer that was signed on Monday.. Then on Wednesday they informed me that I had to sign the document again as my... Read more »
I am sorry to hear about this situation. If your realtor is using the standard offer to purchase form (WB-11 - Residential Offer to Purchase), which is promulgated by the Wisconsin Department of Safety and Professional Services, then there is a line at the bottom the realtor should complete that...Read more »
If the creditor's lien or mortgage was recorded prior to the joint tenant's death, the property will pass subject to the lien. There is a Termination of Decedent's Interest Form you can file with the Register of Deeds to remove the joint tenant's name from the title to the...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 »
I would need to know more details to answer this question correctly, but generally, you are required to file the Will with the Probate Court in the County where the decedent died within 30 days of your knowledge of their death. This is required to begin opening a probate action in that County. If...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 »
My mom just passed away and we most likely will not be going through probate as most of her assets are either pod or joint with one of her children and the balance left will be under $50,000. So, do we need to get info on the Medicaid estate recovery since my dad used some title 19 funds. How do we... Read more »
If you use the Transfer by Affidavit, used for small estates with total probate assets less than $50,000 there is a requirement to send a copy to the DHS Estate Recovery Program by Certified Mail before you can transfer any assets under the Affidavit. Generally, the Estate Recovery Program will...Read more »
My husband and I were given land (paperwork was signed by both parties for the ownership transfer). The prior owner is upset about something and thinks he can call the county and just take the land back. This land had been in our name for years now and is also included in the assessment of our... Read more »
If the land was legally transferred by deed, and your name is now on the title to the property, the previous owner cannot take it back unless you sign a deed granting the land back to them either by gift or by sale. The only other way I can think of for the previous owner to get the property back...Read more »
You will have to examine what the Will says happens if your niece passes away before she reaches age 30. It may say that the gift "lapses" which would mean it goes away if the person dies, or it may say that then the gift gets added back to the corpus of the estate and distributed to the...Read more »
The meaning of the term "Responsible Party" should be defined by the terms of the contract the Assisted Living Facility is asking you to sign. If it is not defined in the contract, I recommend asking them for the definition before signing and I would be very cautious about signing this...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 »
After closing on a home, the county contacted me saying the property lines for the home I just bought are incorrect. After speaking with the county, the title company contacted the county about this issue. However, the title never notified myself or the seller about this issue prior to closing.
I would carefully examine your title insurance policy on the home to see if the issue was discovered during the title search and discuss this issue with a real estate litigation attorney in your area. The title company should have run a title search before issuing the title insurance. If the issue...Read more »
The amount is intended to be a gift. Would he need to pay taxes on the amount over $15,000 or could this be claimed under the lifetime exemption? If it’s taxable, would agreeing to repay the amount upon sale of the property turn it from a gift to a loan?
Currently you can gift up to $15,000 per person per year, without filing a federal gift tax return. Therefore, your proposed gift of $40,000 from your brother would be over this amount. He could gift you $15,000 this year and $15,000 in 2021 without filing a gift tax return, or if he is married, he...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 »
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