In my will, my two children will get 95% of my estate, and the remaining 5% will go to my four grandchildren. BUT, all my annuities, bank accounts, CDs, etc are POD to my two children. So how will my grandchildren get anything at all?
As you are aware, any asset with a valid beneficiary will go to the beneficiary when you die. Only assets without beneficiaries, not held jointly, and not in trust will go to probate, where the will controls. One option is to trust your children to give part of their inheritance to their...Read more »
I am not able to pay the mortgage due to waiting for opers benefits and for his family's attorney to get everything put into my name. i need to know what i can do before our house is taken from us. Was planning on paying off mortgage once i received his opers benefits.
The first thing would be to call the mortgage company and discuss the situation with them. They are often willing to wait for a while when there has been a death of the mortgage holder. You may have to reapply for the mortgage unless you were on the original mortgage.
I am not sure what you mean by “worded without order from the court. A will is only used when an estate goes to probate court. Property that has a beneficiary, a joint owner, or is in a trust pass outside of probate.
It really depends on the family. Some need to start right away because they need plates for the car, want to sell the house, or need access to bank accounts. But there are reasons to wait as well. A probate attorney can advise.
That is a question only the estate attorney can answer. Depending on the size of the estate and the steps remaining, it could be a short time or longer. Ask the attorney when the distribution is to be made.
My mom is trying to create an irrevocable trust to protect her assets. Upon her passing it would be split between my sibling and myself. The firm she is using has my sibling as the "Settlor" and the 2 of us as "Trustees" . I'm concerned as the way the document is written it seems my Mom should... Read more »
No. Your mother should be the Settlor. There is no need to hide money from Medicare; they were probably referring to Medicaid, which can look back 5 years to see if there were any transfers for less than Fair Market Value for the purpose of Medicaid eligibility. If your mother needs Medicaid...Read more »
Your cousin will need to find out how his mother's house was titled. If just in her name, with no Transfer on Death, it will need to go to probate. Similarly, he needs to find out how the accounts were titled. If just in her name, they will also need to go to probate. He should discuss the...Read more »
We were told by the crematorium (says he has been doing this for 30yrs) that my step-father, because he is the surviving spouse, everything goes to him regardless of what my mother’s Will says. My mother and step-father led completely separate financial lives and my step-father is not on any of... Read more »
The crematorium employee should not practice law. Take the will to an attorney and open an estate in probate court. The surviving spouse may be entitled to some, if he chooses to take against the will, but it should all be done under court supervision.
Wills don't expire. If they are valid at the time of creation - signed by the testator at the bottom with two witnesses signing that the testator did so of free will - it is valid forever unless revoked.
Whether you need to go thru probate depends on how assets are titled, not whether or not you have a will. Anything that is in the decedent's name alone, without a beneficiary or joint owner and not in a trust, would need to be probated. Contact a probate attorney for guidance.
I provided my address with recommendation that check be sent a priority mail so it could be tracked. Am now being told by lawyer that it was sent "regular mail." Since it's been over a month and has not received, and there is no proof that it was ever sent, how can I proceed ? (Ohio)
No, you are not responsible for repairs to a home that you do not own. You may find it beneficial to keep the home in repair, so that when you inherit, it isn't a mess, but you are not required to do so.
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