You have asked a fairly complex question that requires the review of both a lawyer and a tax specialist (that may be one person or if you have a tax accountant it may be two).

Off hand, I'd say it depends on what the property is used for. Residential? Commercial? Rental? And what does... View More

Without seeing the documents (the will and the loan documents) it is impossible to say. GENERALLY when there is a lien against a piece of property the person 'inheriting' it needs to pay the loan. SOME wills specify loans should be paid from the estate first and any inheritance is made... View More

You can use one of the several companies (some more reputable than others) that will buy an annuity or other 'stream of payments' like you receive from this trust at a 'discount' and pay you cash up front. This will likely turn out to be MORE Than 5% interest you're paying... View More

Without seeing the trust it is impossible to answer your question.

You should ask your aunt to get a copy of the trust and then take it to an attorney to review and you will be able to get those answers.

— this answer is offered for information only and does not constitute legal... View More

Nothing; although there may be some unpleasant consequences down the road to your mother's estate or what other family members expect to happen.

Depends on what you mean by "obligated". You can reject a gift - called a disclaimer. But there is generally no negotiating; the personal representative must present to you what the will says you are entitled to - no more or less.

First my condolences on the loss of your wife. Unfortunately not. However, you can file an application for probate with or without a will. You will be appointed personal representative to manage your wife's affairs. if there are no objections or complications the probate should be... View More

It sounds like you already had an attorney that you fired/didn't pay? Without seeing ALL the paperwork and doing the research on this long case, it is impossible to provide any real guidance. I would suggest either going back to the attorney you had, or if you believe he did something improper... View More

This is a very fact-dependent situation. If your dad and his wife owned the house as joint tenants, then it's sale is not subject to the terms of the will. Once your dad passed, the house became his wife's by operation of law, for her to do with as she pleases. She effectively made gifts... View More

There are far less expensive and more appropriate ways to accomplish your pal, but ‘just putting their name on the deed’ is not one of them.

Please consult with a local estate planning attorney to review ‘ladybird’ deeds or other options. Sometimes a will us counterintuitively... View More

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answered on Jul 30, 2021

The most likely outcome is the successor trustee is contractually bound to complete the sale of the house and distribute the proceeds in accordance with the terms of the trust.

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answered on Jul 22, 2021

It is possible that if all of the decedent's children disclaim that the account would then go to his surviving spouse. But that depends on other factors, including exactly how the beneficiary designation was worded and whether there were contingent beneficiaries after the children. You... View More

If there is no spouse but there are surviving children the children inherit property that is in the deceased’s name only under Michigan law. But there needs to be private and that needs to be done promptly and properly.

Your father needs to think about his estate planning and create a... View More

In drafting a revocable trust in Michigan, I typically start with my client's goals. Some clients just want a simple revocable trust that simply transfers property in a certain after their death while others want to direct how money and property is to be managed after their gone. Typically,... View More

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answered on Jul 4, 2021

There are two ways to do this. The first way is to inform the maker of those instruments that you are not willing to serve and ask that he or she revoke the existing instruments and make new ones. If that is not possible, then you can simply decline to serve. This should be done in writing and... View More

Michigan has a funeral representative statute. If the specific instructions conform to that statute, than the trustee makes the decisions. If there is a dispute, the funeral home make require a probate court order - particularly if the dispute is between burial or cremation. If the dispute is about... View More

You should have a Michigan attorney draft the deed, and then somehow, your mother will need to sign it before a California notary.

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answered on Jun 9, 2021

You can replace all of those documents with new, corrected ones, of course, and that is the BEST solution. If that is not practical, then consider a same name affidavit to connect the dots between the misspelled name and the correctly spelled name.

This depends a lot on the estate plans put in place and whether or not there is a buy-sell agreement or other 'key personnel' provisions in that business.

You NEED to take all the relevant documents to a local attorney ASAP to review and give you actual legal advice. The answer... View More

Yes, unless there are estate planning or business agreement documents to the contrary.