My will covers all of my assets and is not very complex, but the investment company that manages my IRA account has a beneficiary form which doesn't allow the same amount of detail. Upon my death, is it likely that there will be financial, e.g. tax, implications if no beneficiary designation... Read more »
It will save your heirs some money if you do so. If there is no beneficiary, all of the assets in the IRA will be subject to the audit fees from the Clerk's Office.
Car is registered in Florida. I have the title. I keep reading about probate? But there is no estate.
You would have to probate in FL, and while there may be some lawyers on here that can practice in NC and FL you will have better luck posting in the FL section.
so my wifes sister is now trying to sue us for 25000 dollars because she thinks shes entitled to part of the house. the house sits on a rented lot which ive paid for the last 4 years, ive also paid the taxes, paid for all upgrades including new appliances and ac unit, and paid for the upkeep. i... Read more »
Yes, your wife's sister has legal standing to sue. Whether she will prevail or not is an entirely different question, and you did not state any facts on which she might rely. The usual grounds for setting aside a deed would be fraud, misrepresentation, coercion, undue influence and/or elder... Read more »
The court appointed administrator has not processed the vehicles listed in the estate with the NCDMV. The heirs do not have legal authority to settle the vehicles. They do have ownership of the tract of land and have a contract to sell the land.
You need to talk to the administrator, it is their responsibility to transfer ownership of the vehicles to the heirs. If you do not want to go through the hassle you can leave them there and let the new owner deal with the problem.
Talk to the clerk of the county in which you are handling the closing, tell them you need to transcribe the will over to the other county. They will know what you are talking about and help you through the process.
My grandmother wants to sign over her home to me that is paid for but she wants my husband and I to agree to a postnuptial agreement before she does so because she would not want my husband to touch it in the future. She said she would have to agree to what the postnuptial insisted of exactly... Read more »
You can do a postnuptial if that is what your grandmother requires, or during the conveyance of the property your spouse can join your grandmother and waive all spousal rights to the property. But if those are your grandmother's conditions you can't force her to give you the property.... Read more »
My question is does my brother legally control all assets and funds due to my mother having dementia?
Depends on the will or lack thereof, also you are the HCPOA but is there a durable POA also in place for your mother? You probably need to take all your documents to a local attorney and get a more tailored opinion.
There is no set timeline for abandonment of personal property in NC, in this situation. What you need to do is give the other person a clear timeline, in writing, explaining that they need to remove their property otherwise you are going to treat it as abandoned and dispose of it.
the property was willed to the 3 of us. however my sister has moved into home not paid rent to me or my brother, nor paid the property taxes.
She wont let myself nor my brother on property unless she is there and we still have personal items to be devided between us. She told me I have to... Read more »
It appears no Probate has occurred, and this might be a good candidate for such a procedure. Probate Administration is expensive and lengthy, but that is probably the only way to really resolve the situation. Hire a competent attorney and do not forget about the taxes, which might be construed... Read more »
Depends on whether or not your mother left a will and the size of her estate. If it is a small estate then talk to the local clerk and you can try and handle everything yourself, or if you would feel more comfortable, hire an attorney to assist you in the process.
I am the only surviving sibling. My nephew is saying he’s entitled to $130,000 and that I will get $40,000 and other nieces and nephews will get $14,000 a piece. I don’t think my nephew should get that much. What can I do ??? I’m seeing a lawyer on 4-12-21. But there trying to wrap things up... Read more »
Wait and talk to the lawyer, under NC law there is a very specific method of how the estate is to be divided. Make sure the lawyer you are speaking to is allowed to practice law in NC.
We want 100% go to living spouse. Just need to make sure this. We have adult kids and grandchildren. In the event both of us died then we can let them have the asset.
But when one of us died, we want to make sure the living spouse is not left in a limbo and have to leave the house.
Depends on what you mean by property, real property passes outside the estate unless specifically brought into the estate. However, with most married couples the property automatically passes to the surviving spouse by virtue of the deed. Bank accounts and stocks are very similar, where they... Read more »
His real estate property divided 50/50. There is some tractors and farm equipment that were in his possession and he has had ever since his father passed in 2011. Now my question is the brothers now claim all the farm equipment was not my step fathers but instead theirs and have threatened to call... Read more »
You may need to file Probate here if enough assets are present. Administering the Estate will allow the relatives to file Claims Against the Estate if they truly feel they own some of those items of personal property. Hire a competent attorney to talk to you about this. Criminal charges like... Read more »
The new wife says she does not want any of the things he has before her.
But the children wants her to sign something stating that she will not have life time rights to the house or land.
The house property and bank accounts life insurances are willed to children and grand... Read more »
They will both have to sign a pre-nuptial agreement. That is the only way to get her to waive her rights to the spouse allowance and elective share.
The land was not a part of the will. I do not want to have any financial connection to my nephew. I offered to buy him out, as he cant afford to pay the taxes on the land. He refused. I want to split the land so I can sell my portion back to my cousin who owns the land around my moms land and not... Read more »
If I understand this correctly, the current owners are you and your nephew. And your nephew wants to keep his portion of the land.
You really have two options, the first you have attempted, you buy out your nephew, but he has to agree to this option.
The second is that you file a... Read more »
Since he died before her she left all to her children. She had no children. Who stands to inherit?
Her parents, if living, then siblings. Contact me at 919-348-9211 if I can help.
Evan Lohr
The Will does not include the IRA. It is separate from the Will. The spouse is the sole beneficiary named in the IRA. The Spouse disclaims a portion of the IRA and the children now are beneficiaries of the portion disclaimed. The Executor of the Will wants to disclose to the children all of the... Read more »
Without reviewing the IRA documents, I cannot answer this question because it depends on the IRA distributions' specific language. By disclaiming a portion of the IRA, you may have placed that portion in the estate. That being said, my first impression is that what is in the IRA or any of the... Read more »
My advice is to hire a local lawyer to assist you.
We both agreed that he was going to keep the house and will refinance it to remove my name. I still pay the HOA fees and the water bill there.
Until your husband refinances, imagine that you cosigned the loan. My suggestion to you is that you should not deed your interest to him until he refinances.
of her demise. My wife and I paid $500/mo (more than double expenses and brother did upkeep on house and cut grass for his share). He has since told us we can only have access to the basement/bathroom area and are not allowed to use the remaining 1725 sq ft, the double garage, neither storage... Read more »
you need to speak to a local probate attorney, without looking at the documents such as the deed to the property and others we cannot give you specific advice on this forum.
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