My first cousin died. He left no will. He had no children. His wife, brother and sister are deceased. His parents and grandparents are also deceased. He has one living niece and one living aunt. He lived in Ohio. Based on this information, who do you think inherits his estate?
My dad passed away in 2005, and he has a will and a trust set up. The trust states that my brother and I receive everything and once we were both of the age 25, we became co-trustees. I am 30 now and in the process of buying my brother out of his half of the house. My mom is saying she has a life... Read more »
This is too complicated to be answered on line. As a co-trustee, you are certainly entitled to a copy of the trust. Ask your mother's lawyer for a copy. If you don't already have an attorney, then use the Find a Lawyer tab to retain a local estate planning attorney who can review the...Read more »
I was told I could not be executor of my parents estate because I reside out of state. Is that a nice to have condition or a need to have requirement. Also, I was sent a waiver of notice of probate of will from my brother without explanation to sign. Why should I sign this document. Did not... Read more »
Someone living out of state can be an Executor, who was named in the will. They cannot be an Administrator, who handles the estate when there is no will. Signing a Waiver of Notice of Probate of Will indicates that the Executor or Administrator does not need to send you certified mail telling you...Read more »
I forgot to say a few more things about that equity line of credit issue with my mother. Her house is in disastrous condition and is worth far, far less than what she owes the bank. So the bank simply taking the house, I don't think that will satisfy them, unless (I hope) by law that's... Read more »
Years ago the bank made me a co-owner (joint checking account) of my mother's checking account. I wanted to just be POA to help pay her bills, but they made me a joint owner instead. She has a $55,000 line of credit on her home that she will never pay off. She is under hospice care and pretty... Read more »
years. And am also over his healthcare. We plan on holding our property undivided half interest, fee simple, with right of survivorship... now our sister has a power of attorney he granted her about 12 years ago. Will she be able to sell his interest or otherwise intervene in our property?
All he has to do is revoke that old POA by sending her a formal notice of revocation. He should also send notice of revocation to anyone anywhere who has a copy of it. And he should demand the return of the original so he can destroy it.
They are both in assisted living, he has dementia and she is slipping. She has assigned a medical POA for herself and has an attorney taking care of her financial assets, which pays for my dad's care (they both own separate properties). My dad does not have a POA assigned for him. Can she sign... Read more »
Only your father could name an agent under a power of attorney. If he is incompetent, then he cannot sign a power of attorney and guardianship may be the only option. Keep in mind, though, that people with dementia can have the capacity to sign a power of attorney. Good luck!
I am exe of an estate. I am beneficiary of funds from Merrill Lynch acct. lawyer said if it was someone else I would have to give the funds to them. He said since I am the beneficiary I have to put it in her estate. The transfer was after death and I had already talked to Merrill Lynch. Is this... Read more »
My partner and I had a business together. The business is under his name. I am unsure how the son needs to sort that out as well as his other business and even personal things needing to be done with possibly taxes, debts or assets.
Determining how a business is to be handled is a complex question. You need to review the operating agreement or bylaws depending on how the business is organized. I highly recommend sitting down with a probate attorney to review the situation in detail and advise you.
See Section 2105.32 of the Ohio Revised Code. If the beneficiary survived the original owner my more than 120 hours, then his or her rights in the property vested. The rights to the property go to the estate of the beneficiary. These are of course general statements and not advice particular to...Read more »
Assuming assets were properly distributed, does the trust need to file a tax return? If not, then you may be finished. I'd send a letter to the beneficiaries indicating that the trust has been wrapped up.
Yes, if you open up her Probate estate, assuming it is still in the bank. If it has es-cheated to the State, you may need to get it from the unclaimed funds. In either case, you will need to open her Probate estate and the funds will go to her heirs, either by will or, if there is no will, by...Read more »
His wife AND his lawyer said they both have a copy of a 2018 rough drafted will (not signed nor registered). Later the wife finds another 2009 will she is stating it is signed (but not witnessed or registered). None of his children have been notified by a lawyer yet. Does she, as his wife have the... Read more »
You can challenge the validity of the will when it is filed in the probate court. You should receive notice of documents filed with the probate court to open the estate, and then there can be a court hearing for you to object. The court is unlikely to accept a will that has not been properly...Read more »
Only valuable collector cars increase much in value to result in much of a taxable capital gain, although the used car market is seeing higher prices. But it doesn't matter, since an heir takes an asset at its current fair market value. If the heir sells immediately at the same fair market...Read more »
My aunt passed away, and she doesn’t have any children, she was divorced, and her parents have passed on. I assumed that the next of kin would be the next blood relative, which would be my mother, because my mother is the oldest sibling. The hospital that my aunt passed at stated that another... Read more »
Your question implicates multiple provisions under Ohio's Revised Code.
Ohio Section 2108.70-2108.99 will be pertinent to your situation. I have included a link below to the chapter. All in all, you may need to retain an attorney if there is a dispute regarding your aunt's...Read more »
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