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I have a 2 year old niece, who I want to name as an heir. I do not want her parents, my brother and sister-in-law, to have access to the money. I want her to inherit it when she becomes an adult. How do I accomplish this?
answered on Aug 20, 2024
Your heirs are determined at your death, not while you are alive. For money a trust will be in order with a good Trustee running it until the Trust is executed and distributed to the grown Niece. If land is involved, hire a competent KY attorney to draft a future interest deed with the Niece... View More
The life estate was in my name and brothers name . However upon looking at the Will it states “ I hereby give ,devise and bequeath all property of every kind ,character and description owned by me at the time of my death and wheresover situated unto my son , “my name “
My question is... View More
answered on Aug 19, 2024
If you were already deeded the life estate (and the remainder went to someone else) in a recorded deed, then the later probated will has no effect on real property the decedent did not own at death. Hire a MS attorney to search the title and determine ownership.
Thank you for reading my question. What happens when a mortgagee has passed? Is the mortgage paperwork redone so the beneficiary of the property becomes mortgagee, or can it be left as is, with the original mortgagee? Thank you for any advice.
answered on Aug 19, 2024
The death of the mortgagee doesn't really make any difference to the holder of the mortgage. As long as the payments are made on time, there should be no problem. If the mortgage note is not paid on time, the holder of the mortgage can foreclose.
Thank you for reading my question. My father passed recently. His lawyer and I are both trustees for his Trust. I need to transfer his house into my name. Lawyer 1 is suggesting only I should sign the warranty deed. Lawyer 2 is stating we both have to sign, since we are both trustees. I appreciate... View More
answered on Aug 19, 2024
Read the Trust declaration as amended for requirements of transferring trust corpus. Probably best to have all Trustees execute the Deed. Hopefully the Deed to the Trustees gives them the power to convey without explanation. If not, the title may be clouded later.
The estate sale company has acknowledged that the clean up crew wrongly took the phone and sold it. Company says they want to make it right. It’s a for real vintage, red wall mounted rotary phone in pristine condition. It was mounted on the wall. (There’s a newer beige wall mounted phone in... View More
answered on Sep 13, 2024
I concur this isn’t a ‘crime’ so be careful how you approach this. A ‘crime’ requires intent and this — particularly with the response of the company trying to ‘make it right’ — shows there is no criminal intent, just a very unfortunate mistake. It is ‘negligence’ at best and... View More
My mothers health is failing. She has asked if I will help her make a trust online. Which trust would be best for her situation. Just incase, it does not sell first. I am getting it ready to put it on the market soon. Any advice will be greatly appreciated, Thank You
answered on Sep 11, 2024
There are some legal documents that I would say you can get away with pulling an online document from a legal internet site. But, unfortunately, trusts are NOT that type of document. They are very technical and one wrong word can cause a completely different outcome than desired. Whenever people... View More
Just formed my LLC and want it to be the holding company and an S corp what do I need to file and in what order?
answered on Sep 6, 2024
I mostly concur with the earlier answer provided to your question above. Here is my response with a few more notes
1) Use Your LLC as a Holding Company: Structuring your LLC to act as a holding company simply involves using it to own other businesses or assets. You don’t need to file... View More
There is a lot of information to write down. The situation in short is my family member is dead. His girlfriend broke up with him, according to a documented police report & body cam footage, the night he died in an accident. She now provides a Living Will (Not Will & last testament) printed... View More
answered on Aug 16, 2024
No claim to estate assets as either a spouse, will beneficiary nor heir. However Decedent's relatives need to hire a GA attorney to start a Probate if there are any decent assets. Quickly... If GF was on a Banking Account, then it will be cleaned out and not an Estate Asset.
1) If I claim the money do I also assume the debt?
2) If so, can the debt be for more than the claim?
3) He was divorced at the time of his passing. Would an ex-wife be considered a surviving spouse? She passed after him
answered on Aug 15, 2024
To claim the money you will need to be Personal Representative or Voluntary Administrator (for smaller estates) of his Estate. If you are, you will not assume his debt individually, the Estate would, the Estate needs to pay liabilities prior to distributing to its beneficiaries. If you have been... View More
answered on Aug 15, 2024
The termination of a life estate usually involves the life tenant dying or conveying his interest to someone else. Otherwise it would have to be a Court Ordered reformation of the deed, a foreclosure, levy of execution or a tax sale.
answered on Aug 14, 2024
Attorneys who handle estate-related matters could answer your question best, but you await a response for a week. Your question may have been overlooked in the general "Uncategorized" category. Although some questions do go unanswered on this forum, you could try reposting and adding the... View More
I applied for legal assistance through Texas legal aid and was told the executive director didn't handle the shares properly and I was told to get a private attorney because I have a case.
answered on Aug 13, 2024
Yes, our firm handles such cases. However, this is not the type of case that a private attorney is likely to handle on a contingency fee. You should assume that you will need to pay a reasonable fee at an hourly rate for services and deposit a reasonable initial retainer before a private attorney... View More
My grandmother passed away last year, and I am a beneficiary of the trust along with 6 other people. My two aunt's are the trustee's. They are not agreeing on anything and there are multiple issues including one of them wanting to purchase one of the properties in the trust for a much... View More
answered on Sep 6, 2024
A common MISTAKE people make is thinking they own assets sitting in a trust because they are a beneficiary (person named in a trust to inherit the asset) and the person who used to own the asset has died. But, while an asset is still in a trust, it rarely (if ever) belongs to the beneficiary named... View More
I just found out that my brother and i co own a home (bc our mother died) with our aunts. My grandmother has been gone 9 years (mom almost 11 years). I rented her home from my aunt's for 3 years and 8 months without knowing I was a co owner. I paid roughly 25 000 in rent. Do I have a case? And... View More
answered on Aug 11, 2024
A Kentucky attorney could advise best, but your question remains open for two weeks. What kind of attorney? Maybe a starting point would be an attorney who deals with wills and estates (it looks like you're already pointed in the right direction with your selection of the "Estate... View More
theft. My husband sent numerous emails to people that he knew telling them about this. With a picture of me and the horses. During and after my husbands death, the step son has repeatedly sold off everything left to me in the will. He has since given my horse to someone else. I had tried moving... View More
answered on Aug 2, 2024
You need to file a police report for the theft of your horse and the tracking device he put on your vehicle. Tell the cops everything he has done to harass you. You may get a restraining order. He may go to jail.
answered on Aug 2, 2024
Generally, an "estate attorney" represents the personal representative. So, if the PR has been removed, the attorney's client is no longer a party to the case, assuming the former PR is not also an heir. If that assumption is incorrect, the attorney would still represent the former PR.
My mom own half of the house too. Everything was taken and nothing to her side of the family.
answered on Aug 1, 2024
What you state as fact may not be the case. If the accounts were joint, the monies are his. If the house was tenants by the entirety, then the survivor owns it. You might hire a TN attorney to look into it if you really think the stepfather stole properties.
Hello really weird question that no one has been able to figure out, but my girlfriend’s dad passed away and she is an only child who inherited everything and she is trying to give his motorcycle to her uncle/ his brother. There is no title for it and it’s showing that it’s not registered in... View More
answered on Jul 30, 2024
You're right; that is a tough one. The estate planning attorneys here would know best, but your question remains open for a week. In terms of registration, there probably wouldn't be any records that come up if the motorcycle was last registered in 1970, over fifty years ago. If there is... View More
Also I had durable power of attorney because he was mentally incapable of handling important issues.
answered on Jul 30, 2024
Since you refer to written documents it is probably best to have a lawyer look at the paperwork and then provide an opinion to you. That said, the directive(s) of the will is based on what the testator has at the time of death. If the testator validly and legally donated property before time of... View More
We did this to avoid probate and want to make sure taxes would not have to be paid by our heirs. Our asets are under the 5,000,000 threshold
answered on Jul 29, 2024
There is no such thing as owning "assets jointly with secondary beneficiaries". You will need an IN attorney to search your titles, signature cards and other assets with beneficiary designations. Then he should be able to discern if any taxable transfers will take place later.... View More
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