I have two children who aren't very financially savvy so I'm reluctant to drop a fairly large sum of cash on them at one time. I would like to set up an investment account and pay some out over a 10 year period with a full liquidation and distribution at the end of the 10 years.
My mother passed away over a year ago. My father has refused to probate her will. I also have a half sister, from my moms first marriage. The estate is sizeable, and we assume that my father is trying to hide something or cut my sister out. We have confirmed the will has not been entered into the... Read more »
Yes, you can force the will to be probated. According to Section 21 of Title 58 of the Oklahoma statutes, “Every custodian of a will, within thirty days after receipt of information that the maker thereof is dead, must deliver the same to the district court having jurisdiction of the estate, or...Read more »
1. You can transfer the house to your son and reserve a life estate for you and your wife. This strategy allows you to reserve the right to use and enjoy the property for the rest of your life and ensure your son receives it upon your deaths, without probate....Read more »
My mother left a will naming me as executor and splitting her estate equally between my brother and I. I have filed for Summary Administration for a mineral interest held in Oklahoma where I reside. Her only other assets are bank accounts held in joint tenancy with my brother in Arizona where she... Read more »
Because the bank accounts were held in joint tenancy with your brother, both your mother and brother owned the accounts while your mother was alive. Upon your mother's death, the account became the sole property of your brother. Therefore, the account is not part of your mother's probate...Read more »
The deed is in his name and his wifes name. Originally it was my dad and mom's place, mom passed and dad remarried. unfortunately, the new wife got the property in right of survivorship, she died and it went to her kids who never even lived in the place. She had no will. Her kids have not paid... Read more »
If your dad and his new wife put the property in their names as joint tenants and he predeceased her, then the property would still be in her estate. In such circumstances, you do not have any legal rights to the property. The intestate heirs of your dad's new wife would be the owners, subject...Read more »
Maybe. Scan the will for a residue (catchall) clause that may transfer all unknown or unidentified property to you (or someone else). If there's no such clause (and no other clause in the will that might be interpreted to convey the car), then the car will pass via Oklahoma's intestacy...Read more »
My mom died in 2011, and my dad died just last week. My brother was named his POA. My brother refused to let me see my moms will and I only discovered my dad had one when I asked a few days ago. I contacted the county where my mother died and her will was not filed with the courts. My dad died in a... Read more »
My grandmother passed away last year. I am the beneficiary as stated in her will and my mother is executor. Her house in currently in probate. I’m needing to get the deed in my name to take out a mortgage to pay her debts. How can I do that?
Generally speaking, the answer is no. The executor is responsible for inventorying your grandmother's assets and liabilities, notifying and paying creditors, and then distributing any remaining assets to the rightful heirs. If the house needs to be mortgaged or sold to pay your...Read more »
If the lease is still valid, either because it is in its primary term or has been extended into its secondary term due to production on it, then the lease is still good and the company (and your dad's heirs) must honor it. However, in such a situation, the oil company can escrow any royalties...Read more »
My mom and dad owned their home JTWROS. My dad died in 1996 and never changed the title to her single name. She passed away in 2012. She had a will and we have probated her estate with the court last year. In her will, she left the home to me. How do I change the title on the house to my name,... Read more »
Assuming the probate court issued an order declaring you as the new owner of the house (per the will), you simply need to file that order in the county where the property is located. Originally, your mother should have filed an Affidavit of Surviving Joint Tenant (with a death certificate...Read more »
Assuming you are asking about filing a creditor claim against the estate, such claims are forever barred (in standard probate) unless presented to the personal representative or their attorney by the presentment date, which will be about two months after the notice is filed with the court clerk....Read more »
My husband and I own our home, no mortgage and own all autos w/ clear titles. We are self employed low income, but what we have, we own. I also have a son that is 24, but not responsible to handle such matters. What is the cheapest and simplest way to make sure that our daughter gets our... Read more »
Probably the cheapest and easiest way is to create a simple revocable living trust that names you and your husband as trustees and primary beneficiaries and then names a successor trustee that takes over and manages the property for your daughter until she reaches the age you want her to receive...Read more »
I’m sorry for your loss. You will have to probate her estate in the county where she resided when she passed. However, if you are her only heir, it should be relatively inexpensive and fast, especially if her entire estate was worth $200,000 or less.
her adult great children knew her wishes were for one of her daughters and her son in law (my mother and father) to have her house. The iems in the house went amicably to whoever wanted what. My parents lived in the house several times over the years and always kept the real estate taxes current.... Read more »
Probate will likely be necessary, but it should be cheap and quick. On the other hand, if the lot is the only property left in your grandmother's name and all of your grandmother's heirs agree to deed any right they may have in the property to your mother, you can likely avoid probate...Read more »
Typically, an estate going through probate must have its assets inventoried and appraised, as well as officially "accounted for" prior to the closing of the probate. However, if the personal representative obtains written consent from all heirs, he/she can ask the court to waive those tasks.
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