its a farm that has 2 homes one it, and its going from the owner who is the Grandmother, to the grandson.
To transfer the property, the owner must sign a deed transferring it to the new owner. Then the deed must be recorded in the county where the property is located. She should have the deed drawn up by an attorney to make sure it Is done properly and meets the Missouri requirements.
Heirs are not liable for a decedent’s credit card debt, but the decedent’s estate is liable.
My father created a revocable living trust in 2015, making myself and two older sisters the beneficiaries. He placed his MO property into the trust and the trust directives are to split the remainder trust in equal shares between us three. However, in 2017 he purchased a property in PA to help out... Read more »
Your ability to make amendments to the trust will depend on the terms of the trust itself. Some settlers grant that power, others do not. If you and your siblings are all in agreement to follow your father’s wishes, however, you may be able to arrange it and still be adhering to the terms of the... Read more »
Sister are the survivors. His dad and sister want nothing to do with the house so every one wants to put it in my husband's name. However, she left no will no beneficiary, nothing. What do we do from here?
Hire a competent attorney to search the title. You will probably need an Affidavit of Heirship, and a Quit Claim Deed for the other Heirs to convey their interests over to your Husband. He will need to immediately start paying taxes, and any mortgages.
He has no will. I’ve been living in his hook me caring for him for over a year. In February he was going to add me as beneficiary on his deed. The pandemic closed the courthouse until this week. He is now incapacitated and can not do so. Can I add myself as beneficiary? The financial POA states I... Read more »
Typically, if a POA grants a power then it is legal to exercise that power, assuming doing so doe not conflict with any limitations or restrictions given in the document. Another important caveat is that said power is being exercised in good faith and in keeping with the principal's interests.... Read more »
No will. Only grandfathers name and name of ex wife on deed. No other assets. I’ve been here for one year caring for him 24/7 off of a $200 per month allowance from aunt whom at the time had a joint bank account with my grandfather. My question is:
I am POA medically and financially for... Read more »
Without a will, you will have no legal right to the home when your grandfather passes. If he is competent and wants you to have it after he dies, he can sign a Beneficiary Deed that will leave it to you. Unfortunately, your care for him and improvements to the house will not earn you the right to... Read more »
I have no other family and we both live in Missouri.
Your surviving family will not inherit your debt. But your remaining assets must be used to pay any debt you leave behind.
I just want to make sure I take out an insurance policy to keep from him having to bear any burden.
When you die, whatever assets are in your estate will be used to pay your debts first. Family members are not responsible for your debts.
My husband and I have been married 5 years. After marriage, I moved into his home and we subsequently completed a transfer beneficiary deed on the home. If he were to pass, would I be obligated to pay some sort if estate tax on the home?
There is no estate tax in Missouri.
My husband passed away, the estate is insolvent. I had to sell the house and pay the mortgage company and some extra bills. There is money left over after paying off the mortgage bill and the other bills. My question is if there is any way I can keep a portion of that money. They are other... Read more »
To fully answer the question, I have several questions that would need to be answered. How was the house titled,k in his name only, or both your names as husband and wife? Was an actual estate opened on his behalf in your local county probate court on his behalf, or not? Who are these other... Read more »
Ss admin was notified, his bank account closed out, no 2019 taxes filed yet, and no probate case opened at this time. This check is similar to tax refund checks I fear and require all parties endorse. Help!
May likely require filing a case with the local county probate court where you live. There are several ways this can be done, perhaps even a "small estate", among other ways. In any event, you likely need some sort of authority to sign on his behalf, and probate courts is where you can... Read more »
My mother took care of my grandmother for 3 years prior to my grandmother moving to a nursing home where she died on Medicaid after an additional 4+ years. It has been 3+ years since my grandmother’s death and my parents have not put the my grandmother’s house on the market. My Mom claims the... Read more »
Your mother is correct. When the home is sold the state is entitled to take as much of the sale proceeds as necessary to reimburse itself for the cost of care that it provided to your grandmother. This often amounts to all of the proceeds.
This is so sad because, had your mother or, even... Read more »
A power of attorney is good until revoked. However, may financial institutions have policies that place time limits on them. For the agent designated in the power of attorney to be able to amend estate planning documents of the principal, the power of attorney needs to VERY SPECIFICALLY grant... Read more »
My boyfriend has some inheritance coming in and can’t touch it unless he’s married... he has asked me to pretend to be his fiancée in order to get his inheritance and to contact his lawyer and I emailed his lawyer but I never met his lawyer in person... his lawyer emailed me back and wanting... Read more »
Two things.
1. I suggest you ask the lawyer why he is requesting this information. Perhaps he needs it for the work to be done. Perhaps he wants that information so that if you and your bf hire him and then don't pay having this information will make it easier to collect a judgment... Read more »
Our mother, whose estate is in central MO, has recently passed . Myself and my sibling are on opposite ends of the country. We are dead-center of COVID-19 quarantine and are unable to move about the country. We need access to her bank box to see if the booklet is in it so we can appropriately... Read more »
I am so sorry for your loss. Unfortunately there is not much you can do right now. When a person dies their accounts are frozen and access to safe deposit boxes closed. In order to access a box you will likely need a court order from a Missouri court. And Missouri courts are closed for nonessential... Read more »
A few days ago I accidentally deposited some money in my daughter’s UTMA and bought some stocks with it before I realized my mistake. Can I sell the stocks and withdraw the money or is it now irrevocable her money?
Generally speaking, any deposits to a UTMA account by a parent are irrevocable. You should consult an attorney in your area to discuss the details to be sure.
me and my brother. (We are 2 of 4 siblings.) A Beneficiary Deed in my brother’s and my name was filed with the county back in the 80’s when she created her will. The house was subsequently condemned due to a foundation problem and demolished. Ultimately, the lot was put up for sale in the... Read more »
Generally speaking, in Missouri, no probate has to be filed in the total value of the deceased's estate is under $30,000. If that is the situation with your mother it is not likely you need to probate her estate. You should consult with an attorney and go over the details of your mother's... Read more »
My father past away and my sister got control of his estate and now they have taken me to court and I wasn't notified about it is that legal
You will need to contact an attorney who handles contested probate cases. Failure to properly serve or give due notice to a required party has serious consequences. However, you will need an attorney to help you assess if that's what happened in this instance.
Bil left me 2/3 of the estate, and I know the home I have shared with him for 7 years will have to be sold. His brother is in charge and has given me a week to get out of the home. I have established residency here and this is the only home I have. There is a Will, and I was Bill's sole... Read more »
First of all, I am sorry for your loss. Your partner’s will is going to control how his estate is distributed, despite all the care you game him. If you are on title to the house, you have more rights than if it was solely in Bill’s name. If you are not on title you have to be given at least 30... Read more »
The last line of termination states upon my death this power of attorney shall terminate upon actual knowledge or receipt of written notice therefore by the agent.explain please
You are correct that the financial POA terminated on the death of your brother. If you do not have any joint accounts to pay the bills with you should notify the billing companies that he is deceased and you have no way to pay his bills. If his assets are substantial enough you can probate his... Read more »
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