A biological daughter living at the time of death. There is a will naming one of the deceased sons children as a heir receiving 45 acres and the living bio daughter receiving 47 acres the house and everything in it and on those acres and listing the adopted daughter with 1 acre of land. .... But... Read more »
Typically, the Probate Court will go to great length to see that the Decedant's wishes as expressed in his or her Last Will and Testament are honored - unless, someone can prove up some type of undue influence. Undue influence doesn't seem to be the issue here.
Their house is worth $70,000. They have agreed to sell it to me for $35,000 which I would give them now so they can have money for an emergency or any medical bills they might have. They are going to continue living there until their death and will leave the house to me. They don’t feel... Read more »
You may want to consider a Transfer on Death Deed. On the death of your parents, you will receive a "step-up" in basis to the "fair market value" as of their date of death. This stepped-up amount will then be used in the calculation for capital gains.
As an example, suppose a person (aka the Grantor), creates a revocable living trust appointing themselves as the Trustee. If the person who is both the Grantor and Trustee has a criminal record, then the answer is "Yes."
This one can get complicated very quickly. For example, is the IRA in payout status? If so, the answer is yes. Is the person married? If yes, part of the IRA may be allocated to the spouse. Also, what is the total value of the IRA account?
The thing to remember, is that Medicaid can look...Read more »
My mother in law passed away in November 2017. Before she passed, she changed the beneficiary on her IRA from her estranged husband to her sons. She requested the investment firm do this & it was done. I was told she had the type of IRA that allowed her to do this. Her estranged husband new... Read more »
Based upon the facts that you have shared and without seeing the documents involved, my initial answer is no. I do not believe that the estranged husband can challenge the sons being selected as the primary beneficiaries and recipients of the proceeds from the IRA.
I agree with Richard - be very careful with online forms. They may be sufficient for states with large populations such as California, New York or Texas. But Oklahoma is a little more that 1% of the US population. How can they afford to spend an adequate amount of time customizing their general...Read more »
My grandpa passed six months ago I had the car and title which was signed already by my grandpa and he passed shortly after, I had not registered car yet I decided to wait awhile pending a will, which was not found so I registered and titled car in my name fast forward six months later his brother... Read more »
Since I have not seen any of the documents, let me give you some general principles.
The overall purpose of a probate is to 1.) identify and collect the assets; 2.) pay the taxes of the decedent; 3.) pay the taxes of the decedent; and finally 4.) distribute any remaining assets as best as...Read more »
Many times people will use a trust to avoid the delay and expense of probate. Thus, the filing of a probate is unnecessary since the issues of the assets, taxes, or debts are handled through the trust.
But what frequently happens - especially in Oklahoma -...Read more »
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