As long as your father is not incapacitated, an attorney can assist him in preparing a Will or Revocable Living Trust to allow him to designated how his property would be distributed if he were to pass away. Advance Health Care Directive and Durable Power of Attorney documents are also important...View More
Although you and your husband can make changes to your trust, it is important to review the changes with an attorney to make sure that there are no unintended consequences, and to make sure that the changes are done in a manner that makes them legally effective and not likely to cause confusion or...View More
My grandfather passed away. He and my grandma were the two mortgagors (borrowers) to the home my grandma lives in now. The house is in CA a community property state, however the house is not paid off. What do we have to do to ensure she keeps the house.
She will need to continue to pay the mortgage payments. Depending upon how title was held on the house, probate may or may not be required. If your grandmother does not have an estate plan already in place and current, now is a good time to seek assistance from an estate planning attorney to...View More
Typically only the Grantors and current Trustees need to sign. However, before signing a trust, be sure to review it with an attorney to ensure that it does what you need it to, and that there are no problems or unforeseen consequences. Keep in mind that most individuals also need other documents...View More
Your powers as Trustee will not allow you to access information for accounts outside of the Trust. Your powers as Executor are only used for assets in the probate estate. A probate estate contains assets that are not owned by a trust, not jointly owned by another person who survived your friend,...View More
I need advice and assistance in how to declare the Settlor incapacitated which the Trust allows for. Relatives are trying to remove him from his home, acting only in his name, and I need to have legal authority to provide for the Settlor's care and welfare under the Trust before they act.... View More
The first step is to review the terms of the trust to determine its instructions regarding incapacity and appointment of a successor trustee. The trust will also provide terms about the authority of the successor trustee. You should seek assistance from an attorney who works in trust...View More
The power of attorney agent no longer has authority over your uncle's assets now that he has passed away. If the house or other assets are in a trust, the trustee has control of the property. Otherwise, the probate court will appoint an executor or administrator to administer your uncle's estate.
The name and location of the bank account is helpful to show you specific intent to move the asset into the trust, but you should not include the entire account number. The last 4 digits are typically sufficient. Check with an attorney before including any retirement accounts in your trust....View More
Now the kids are asking for what they gave her back my husband is successor trustee I told him the items belong to her and that if nothing is identified to go back to any specific person, that they will have to follow what the trust says in order to disburse it
You are correct that any property given to her as a gift is her personal property and will have to be distributed based upon the terms of the trust. The law has very specific requirements as to what the trustee is required to do, including notice, accounting, and other steps. Your husband should...View More
Not necessarily. If there is real estate involved and the homes have not been placed in a trust, are not jointly owned by you, and you are not a transfer on death beneficiary, then you will have to go though the Probate Court which will decide how the property is distributed. If you are the sole...View More
Only thing left is transfer of her mothers 2 bank accounts. Here is problem. My wife is stage 4 lung cancer, very near death and unable to complete the transfer. Can a new executor of her mothers will be appointed (there is noone else in family) or better to wait until my wife passes. Oh, and we... View More
If there is an attorney handling the probate of your wife's mother's estate, they should be able to petition the court to appoint a new executor. If there is no attorney, you should seek the assistance of an attorney to help you in requesting the appointment of a new executor who can...View More
I was sent a letter from the lawyer asking if I wanted $50k instead of waiting 18.5 years until Executor dies. How do I know if I was suppose to receive my inheritance (feasibly more than $50k) years ago?
If the estate was probated, you should contact the probate court where your father lived when he passed away to see if a probate was opened and, if so, if and how property was distributed. Depending upon the county, some of this information may be online. Otherwise, you will need to go to the...View More
The answer depends upon how the title is currently held, if the property was owned by a trust or was his separate property, if he had a will, and various other factors. The short answer is likely yes, but there may be a way to handle it less expensively and quicker that does not require a full...View More
There is last will and testament. Executor has been procrastinating now for 9 months. Executor has decided not to probate. Can the 3 other heirs demand a complete inventory of all incomes and expenditures from the estate without going to probate. Or is probate needed to get this info. Thankyou
In California, if an estate has a value of over $150,000, probate is required. Given that there is a house, furnishings and bank account, the value is very likely over this amount and the executor is required by law to probate the estate. Part of the probate process includes and inventory and...View More
Both a will and a trust have their purpose, and an estate plan often contains both. Administration of an estate through a trust is typically cheaper and quicker for the beneficiaries to receive their distribution. Trust administration typically does not involve the court and therefore is more...View More
A "legal guardian" for an adult is referred to as a conservator. If your mom has already designed you as her agent through a durable power of attorney and advanced healthcare directive, and these documents are sufficient to allow you to handle her finances and make medical decisions on...View More
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