I am a beneficiary of my mom's trust along with my siblings. My mom's estate is in Maryland. Am I entitled to know the value of each account, investment, stock, property (each asset that will be liquidated), and either the dollar amount or percent given to each beneficiary?
My mother who receives medicaid and SSI saved up assets due to the fact that she moved into subsidized housing which only charged her 200 a month for rent. She currently has about 10k saved up in her account which is over the asset limit and I'm trying to spend the money... Read more »
If a person dies and names a beneficiary on a bank account that is different than what is in the Will, does the Will take precedence or do you have to take that person to court if they don't hand over those funds as it is laid out in the Will?
The beneficiary designation on the bank account controls, regardless of what the will says. The will only controls assets in the estate. By definition, any asset such as a financial account that is governed by a contractual agreement between the decedent and the financial institution, that by its...Read more »
No spouse, no children, no parents, no grandparents. One living sibling, and three deceased siblings. Does the living sibling receive everything, or do the children of the deceased siblings (nieces and nephews) receive a share?
If there is no Will and no surviving spouse, parents or children / grandchildren, the nieces and nephews of the Deceased (children of the deceased sibling) receive under "representation". For example, if there were 4 siblings who either survived or who died with their own issue, then the...Read more »
It would depend on the deed language. Two people (including a parent/child) can own property together with or without survivorship rights and the mere fact that the word "heirs" is in the deed doesn't tell the whole story.
Your question says you are in DC, but it is posed as a Maryland question, and I am going to guess the estate is filed in PG County, because, even though it's called Orphan's Court formally, in Montgomery, the hearings are in the Circuit Court by the Circuit Court bench, so laypeople never...Read more »
Montgomery county, only assets are in financial accounts. Valuable property was divided among children and charities before his death. He is to inherit money from his sister who died in 6 weeks prior to his death
In Maryland, the way you get Letters of Administration is by filing a Petition for Probate. That opens an estate. If the assets are all in non-probate assets, they get listed separately in the Information Report.
I am a beneficiary, and I’m being told that I have to wait to receive any money until the account is closed. And that unless I sign over my rights to property to sell it that it cannot be closed. If I sign over my rights to the property they will close the estate and then said I would get any... Read more »
If you are asking whether you can have the proceeds from the sale of the house before you agree that the house should be sold, the answer is sort of obvious. But, perhaps the real issue here is that you don't trust the personal representative or their counsel. If so, you should retain your own...Read more »
The life insurance policy was outdated and my father who passed away was the named beneficiary. It went into my mother’s estate. All creditors and debts have been paid and the only thing pending is selling the house.Can the money be distributed before selling the house?
Partial early distributions are permitted, but not required, so long as the estate is otherwise solvent an can pay all administrative expenses, fees and debts of the estate. An heir, however, is not entitled to an early distribution, and there is no basis to compel the PR to make an early partial...Read more »
My moms well stated that my dad is to be her agent but if not that my sister myself or my brother Can be. My brother past away and I wasn’t included in the “PR”. Only my sister was. She has donated some of my mom’s vehicles paid off her truck and is in charge of all the accounts. I wanted... Read more »
You need to have a lawyer review the will, the inventory and the accountings filed in the estate, before any useful advice can be provided. The estate may not have the funds to maintain the house (mainenance, utilities, property taxes, homeowner's insurance, mortgage, etc.) for five years, so...Read more »
His oral promises before death are not sufficient. The bequest needs to be spelled out in the Will. The Will must be filed in the probate estate when the estate petition is filed. Until the estate is opened and the executor receives Letters of Administration from the court, the executor has no...Read more »
Yes, the property can be deeded through the estate to the minor children, and the lender on the mortgage may not accelerate the loan or declare the loan balance due, but must accept continuing mortgage payments made on their behalf; however, the mortage lien remains on the property, so nonpayment...Read more »
Anyone not named in a Will gets nothing if your will specifically names those whom you want to receive your estate. The only exception is the statutory right of a surviving spouse (married at time of death) to elect one-third of your estate regardless of what your will says. If you are concerned...Read more »
He is a very ruthless attorney but presents well. He has been unresponsive to her care team and myself for replacement hearing aid at one point (which I had to fight for), he is not authorizing additional care for a fractured elbow and has instead suggested things like giving her sleeping pills,... Read more »
Why is there a trust? Who created the trust? How was the trustee appointed? Is this a court appointed guardian as opposed to a private trustee? What is your evidence supporting your claims that the attorney and his family have taken funds for their personal use? (If this is true that is a crime--a...Read more »
My dad's in his late 80's in NY. If he needs medicaid to pay his care, can my disability (I'm on SSDI), age 60 in MD) be used to pass his savings to me, so our family can keep it? Is it just an exemption for a house or for other assets too?
Your father would need to seek out an elder care lawyer to map out a strategy to protect his assets from counting towards Medicaid eligibility. Your disability is irrelevant and will not shelter his assets. He would need to get his assets out of his name five years before applying for Medicaid if...Read more »
Private burial plots on an owner's land is only permitted if the county code for the local jurisdiction allows it; otherwise, it is prohbited by state statute, which requires that bodies be buried in a licensed cemetery. This is a health code issue, as well as a land use issue to protect...Read more »
If I am understanding your scenario, the executor of the estate intends to purchase real property owned by the estate, and the cash from that sale will then replace the real property in the estate for purposes of distribution to the heirs. There are conflict of interest issues here since the...Read more »
A POA is a legal instrument that appoints another person to act as the "attorney-in-fact" or agent of the person creating the POA (the "principal"), who can do things in the name of the principal as if they were the principal, to the extent set forth in the POA. The POA is only...Read more »
I was not informed a GST with me as the only beneficiary, existed until my cousin recently lost her mother (my aunt), and she sent me the paperwork from the GST now that her and her brother are dissolving theirs(other half of the original trust).
A beneficiary of a trust has the right to obtain a copy of the trust and receive an accounting of the assets, to include investment performance of the assets and transactions in and out of the trust. Your starting point should be a written demand on the trustee for both of these things. Upon...Read more »
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