The best way to do this is to hire an attorney to assist you. Most estate planning and trust administration attorneys (such as myself) do this on a regular basis. The fee is usually quite affordable compared to the litany of problems you could experience in the future if this is not done...Read more »
My mom relocated to a managed care facility last year. If I purchase the home she lived in for 50 yrs, will I be excluded from reassessment of the property and be able to continue getting the prop 13 tax advantages and if so, does it need to be my primary residence?
Whether it's a sale or gift of property to you by a parent, you should still qualify for the parent to child reassessment exemption under Proposition 58 which extends Prop 13 protection to the child, regardless of whether that child is a minor or an adult. If the property being transferred is the...Read more »
Thank you for your previous answers. Ms. Whitehurst, what other "eventualities" are you referring to? And, Mr. Gaffney, so, is it necessary and/or advised to obtain a physician's letter stating she has "the mental capacity to understand what she is signing"? We are also awaiting approval for SSI... Read more »
If a person has some impairment, then you are right to worry that someone may later claim that they did not have the capacity to sign the document. We usually work the other way around (getting a doctor to say someone is incompetent), but I like your defensive thinking in making sure that she has...Read more »
I need to obtain a POA for her. I'm in Florida. The only assets she has, to my knowledge, are 2 cars (in CA), a bank account (in CA - don't know if anything is in at this point) and some land in FL (which she was considering selling before her stroke). She also as a list of credit card accounts. We... Read more »
My brother whom my mother ADIMENTALLY expressed he make no decisions for her was appointed. She died intestate. The judge threw out my brothers OSC for procedure in non service, however she is asking me to comply anyway. How do I respond?
Grandmother left will and testament with me her grandson put me on her bank accounts and retirements accounts. My uncle swooped in when she was diagnosed with terminal cancer and took her the same day she was diagnosed to get a will done. What should I do and what are my rights to the things she... Read more »
In general, assets that are in the form of beneficiary designations through banks and investment firms do not pass through a will or testamentary trust. You will present your ID and a certified death certificate at the financial institutions that hold the accounts.
Great uncle was feeling sick and wanted a trust put together before he died. He named nephew who lived with him as beneficiary for all accounts. Trustee was tasked with bringing trust to his financial advisor at Merrill Lynch who oversaw his accounts. All accounts were supposed to go to the trust... Read more »
This forum is for legal questions of a general nature. Your question involves specific facts and circumstances, not all of which are present in your recitation of facts. The only way you can get a definitive answer to your question is to schedule a consultation with an attorney that litigates...Read more »
The property was my dad & uncle's and my dad's part went to my mom when he died. I lived there for over 23yrs in the main house but moved into an RV on the property so my mother, sister, and her husband and kids coild have the house. I paid rent monthly just to help out and I alone paid the 2 year... Read more »
My father was left money from and aunt. He did not claim it and he has since died. The county finance department says I need a court order to claim it. I am his daughter and I have no idea what I need to do. The amount is less then $6000.00.
You may or may not need a court order. It depends on what else was in your father's estate when he died, and you are going to need to get it in his name if it is not in his name already. (It is unclear what you meant by "he did not claim it".) A California probate attorney can help you sort...Read more »
Paying the house taxes and house insurance. Mind you, In 1950, my grandpa payed for the house in full. Now that grandparents are gone, my Aunt wants me to pay rent. Which I think is ridiculous. If I don’t pay rent, she is going to kick me out my house. The house is not even in her name. I took... Read more »
You have not supplied enough information to answer this question. It is possible you have no claim to the house whatsoever, I which case, yes, you need to move out or pay rent. Or you might have inherited a percentage interest in the house if your parent on that side of the family is deceased, in...Read more »
My mom has 6 rental homes. She just died. It appears to be a 50/50 split, with her trust and my father's who died in 1971. Trusts list me and my 3 brothers as beneficiaries. The properties are to be sold. I have heard the capital gains tax will be 33% or more.
A savings account does not have a beneficiary unless it is an IRA or 401K. You can name a "pay on death" person though. In either case, the bank paperwork will prevail, but try no to leave those kinds of confusing questions behind!
The plain answer is I don't know. That's why I called for a wellness check and Adult Protective Services. Last week I learned of her having signs of dementia a year ago. It was expressed to me by a family member that she may pass and no one finds out, and he would continue to collect her social... Read more »
Also look out for "undue influence" in changes to the Will or Trust, leaving everything to the brother. It may be reasonable if he took care of her, and if he is the neediest, but it can also be taking advantage of a sick old woman. Just keep an eye out.
I appreciate your time and information, Mr Gaffney, thank you. I assume my brother is sole trustee. We have no relationship. I have gotten no response from mail or phone to my mother (I live in Kentucky, she lives in California). I have done a wellness check through the police. I have reported... Read more »
It is VERY unusual for any agency to have a copy of a trust. it is possible so you can check with the LA County Recorder's office, it is just never really done. The Trust company would be a better bet.
Are you worried that your brother is mistreating your mother? That will be a tough...Read more »
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