A woman died in January 2023 without a will. She had four children that are heirs to the estate according to Colorado intestate succession laws. The house was not transferred to the heirs prior to its sale in March 2024, but was sold on behalf of the estate by the executor (who is also one of the... View More
answered on Mar 15, 2024
Property owned by a decedent gets a step up (or down) to fair market value as of the date of death. That holds regardless of whether the property is distributed in kind to the heirs or is sold and then cash distributed to the heirs. the only difference is who pays the capital gains taxes, if any.... View More
I was born under one last name. I was step-parent adopted, and my last name changed, as a child. I was married, and my last name changed again.
Is there a way to go back to the last name I was born under, before the adoption, without losing my adopted last name on my birth certificate? Is... View More
answered on Mar 7, 2024
In every state there is a legal method for changing your legal name without changing the name on your birth certificate. You might even find self help forms on the court’s website. If not, you should hire an attorney to help you navigate the process.
I own a fully paid house in Rockville MD. I want to sell it to my mom but also have her put it into a trust with me as the beneficiary. Can I transfer the deed directly into her trust, or does the title first need to be transferred to my mom before she can transfer it into her trust?
answered on Feb 25, 2024
Yes, your mother’s trust can be the buyer, and you can be the seller, with a deed to match. This makes perfect sense if it truly is an arm’s-length transaction.
However, if what you are actually doing is gifting the house to her, then you should not do that without talking to an... View More
I read that this is possible and would like to know how to do it.
answered on Feb 21, 2024
The car is easy. Just transfer the title to your child, but only do this if your child is capable of managing a car. If he/she is not, then see an estate planning attorney about other options.
The IRA is not so easy. If you cash out the IRA and retitle it to your child, that will be a... View More
answered on Feb 20, 2024
Trust amendments usually have immediate effect. More likely than not there is a misunderstanding regarding what you were told.
Ultimately the only way an attorney can give you actual, personalized advice on this issue would be to review the trust and the amendment and discuss with you... View More
My mother passed away in 2012 I have been at the property since then and paid taxes on property until now I have no other heirs to battle for the rights to property but this action filed against the real estate is not what I was planning on happening please some advice on this matter
answered on Feb 20, 2024
There is no “answer” that can be provided to your question because we have no idea what the petition is about. Also, attorneys in this forum are not allowed to solicit clients. This means that no attorney can write “contact me”.
But you can contact an attorney in your area yourself... View More
His will splits his estate 50-50 between my sister and myself. I have financial POA.
answered on Feb 9, 2024
A will absolutely does not avoid probate. Rather, it guarantees probate. Avoidance of probate requires a different technique such as a trust or a transfer on death designation/document. An estate planning attorney can help you choose the best probate-avoidance technique for you.
It's her and her oldest kids that think everything is theirs
answered on Jan 28, 2024
If you are now a co-owner you do have the right to live in the house. If you cannot cohabit with your sister peacefully then you have the right to petition a court to force the sale of the house and split the proceeds. That threat might be enough to convince her to buy you out because litigation... View More
I am the executor of an estate. A beneficiary of a home (due to a person being deceased) has been granted status as successor of interest. The payments have been kept up via automatic payments under the deceased persons account. If with these circumstances, can the loan be called DUE NOW if he... View More
answered on Jan 23, 2024
A home mortgage lender may NOT call a loan due on account of the death of the borrower if the lender has been informed that the property will be inherited by a relative. Your facts did not say whether or not this is case, but that fact is highly relevant. If a relative is the... View More
Or is a lawyer or notary needed? How many witnesses are needed?
answered on Jan 18, 2024
Two witnesses are required by law. Notarized self-proving affidavits help get the will admitted to court so that the witnesses do not have to be found to testify later.
There is no law that requires you to engage an attorney to prepare a will, but doing do is a really good idea. Really... View More
I am purchasing two plots of land from grandfather. Each plot has a tax assessed value of roughly $22,500, totaling $45,000. My family is using this number to determine fair market value. I have purchased one plot already with a $35000 mortgage loan to secure better interest rate and terms. My... View More
answered on Jan 14, 2024
Your question is very astute. I assume that you are concerned about this from your grandfather's perspective rather than your own, though you did not say one way or the other. The chances are good that Tenncare will look at this as two separate transactions because it sounds like they are... View More
I offer free revisions for my clients so long as they are hosting with me as well. She refused the revisions and even refused to take over the site herself. Instead decided the sue.
answered on Jan 14, 2024
Even if your contract is ironclad it is usually not worth the bad will and emotional drain to litigate. My best advice to you, but this is based on very limited information so take with a grain of salt, is to offer her a full refund in exchange for a settlement agreement in which you admit no fault... View More
I am 36 years old. My mom passed away many years ago and so did my only brother. Everything of course was then only my stepdads. My stepdad has been my father since I was 5 years old. I consider him my father of course. We’ve always had a great relationship but recently he has been ill and... View More
answered on Jan 14, 2024
Your stepdad is mistaken and you are right to be concerned. You are NOT in the line of succession. To inherit from your stepdad he would need to name you as the death beneficiary on his financial accounts (an excellent method) AND sign a will that leaves everything to you (for items that do not... View More
My brother and I are the beneficiares of my Dad's estate and would be splitting the proceeds 50/50. Will taxes be paid on just the trust or would the trust pay taxes first and then us as beneficiaries pay taxes as well on our proceeds? Thank you for your help.
answered on Jan 13, 2024
There is a strong likelihood that the house was included in your father‘s taxable estate and, therefore, received a step up in basis as of his date of death. If the house sold for a price that was close to date of death value, chances are there was no capital gain after taking into account... View More
I live in Alabama and she lives in Texas. I am executor/administrator of her estate. Her only assets are about 90K in cash and savings accounts and in IRAs, all with named beneficiaries. What steps must I follow to settle her estate? What must be done in person?
answered on Jan 11, 2024
Collecting accounts that have death beneficiaries listed is fairly simple. After your mother passes, just send a letter to each financial institution notifying them of your mother's death. Be sure to enclose an original certified death certificate, so be sure to order enough originals plus a... View More
Naming me executor. To transfer property ownership. Clerk of court, how do I go about this? And can I do this in my own or do I have to have a lawyer?
answered on Jan 11, 2024
In most states there is no law that obligates an executor to hire an attorney. Just like fixing a car, you are free to do it yourself if you know how. But if you don’t know how you will get better results in the long run if you hire an expert. And just like fixing a car it is also often cheaper... View More
no will, deceased had 3 children, myself and my 2 brothers, and his wife who is long-term institutionalized, estate is small under $30,000 with no real estate. will his wife be able to benefit somehow, she is not able to care for herself physically and mentally.
answered on Jan 5, 2024
Yes, the wife inherits her share even if she lacks capacity. If there is nobody with a power of attorney to manage her finances then a conservator may need to be appointed. And it can get even more complicated if she is on government benefits. If that is the case then remember that someone will... View More
On the title of the property it lists my mom her husband and my sister all of them are deceased and no will for her property established and now there are squatters living in the house how do I prove my right to it and get them out
answered on Jan 4, 2024
The answer depends in part on exactly how those three individuals held title. Were they joint tenants with right of survivorship? Were they tenants in common? Or something else? The answer to that question will determine how many probate cases need to be filed. The number could be anywhere from... View More
My question is I guess would be the ex girlfriend took everything out of house and vandalized his house they went as far as taking plug in the walls and cut and took wires and copper. They took ac unit and the central ac unit inside cleaned out the barn and garage. In the will it stated that she... View More
answered on Jan 1, 2024
You have been wronged, for certain, and for most wrongs there is a remedy. The remedy in this case is the executors of your dad's estate can sue the girlfriend for theft and conversion. You can require her to either return the stolen items or pay the estate for the value of them. The... View More
Deed, still in grandmother's name. The probate was closed. I recently received notice from court of unpaid taxes and liens if I pay taxes and liens how do I transfer deed to me? Do I have to reopen probate?
answered on Jan 1, 2024
Based upon the facts you have provided, it looks like the buyer bought and paid for the property but failed to record the deed. That does not mean that your grandmother's estate still owns the property. All that means is that a public record of the transaction was not made. The deceased... View More
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