A trust was created for my benefit earlier this summer. A promissory note was given in trust to the trustees to be invested and utilized for specific purposes. The note transferred to the trustees is still currently in their possession. They have not performed the trust nor accounted as required... Read more »
A trustee has the duty to protect, collect and maximize the value of trust assets for the benefit of the beneficiaries, and intentionally destroying a trust asset would presumptively be a violation of that duty. However, it is possible that the note truly was uncollectible and it would cost the... Read more »
My estranged uncle is petitioning to become the administrators of, first, his mother's estate (my step-grandmother), and then, second, his father's estate (my biological grandfather), essentially double dipping. My uncle had two sisters (my mother and aunt, both deceased). My mother had two... Read more »
You can object. As next of kin, he has priority, but the court can refuse him.
My grandfather died in 1994. He had three children (two daughters with his first wife, my grandmother, and one son with his second wife, my step-grandmother). Both wives have died. Both daughters have died. My mother had two children (both alive). My aunt had three children (two alive). My... Read more »
It does appear that you might be an intestate heir because your mother (grandfather's daughter) has died. Therefore, you have an interest in the estate. Therefore, you have standing to petition to be appointed personal representative of your grandfather's estate. Do not delay. If your uncle has... Read more »
My older brother has named our younger sister and me as co-executors; my sister and I do not speak and do not get along. I want to avoid the aggravation involved in this. I have asked him repeatedly to name either her or me (I don’t care which one), but I know he will never do this. Is there... Read more »
If you told him that you don’t want to serve with your sister, that is all you can do at this point. If he dies before you and your sister, you can decline to serve. If your sister passes before him you can choose to serve.
Is this something that can be done?
Each jurisdiction has their own forms. While Trinidad may enforce a New York form, you would be better if the work is in Trinidad to use a Trinidad form.
Estate earned rental income in 2018, which was claimed as rental income on its 2018 tax returns. Such monies in 2018 were not distributed at that time to beneficiary. In 2019, same money was now distributed to beneficiary. Does beneficiary now need to claim such monies as distributable taxable... Read more »
That is a very good question, but no, the income does not get taxed twice. It only gets taxed once at the estate level.
persons who can claim they get a portion of her father's estate. Years ago, my brother said he wanted to leave me some money but I don't know if he did it. My sister hasn't been asked to sign anything. My niece hasn't mentioned anything about my being in the will. Is this type of document... Read more »
All next of kin must be notified, whether in the will or not. This is normal to preclude you from claiming there is some other next of kin. But, you should be getting a copy of the will before you sign anything.
Your first box only has one line-...there was a will or not. Then my brother died in 2016. I just found out through New York State that my father is owed money from a bank acct. The man could not tell me how much but did say it was more that $1,000.
It seems I need uthorization from the... Read more »
Do you know if your brother brought an estate proceeding for your father? If not, you would need to petition the court for the power to discover and secure assets including the bank account. If you do it yourself it would only cost a few hundred dollars. If you hire an attorney it could cost about... Read more »
My grandparents had mirrored wills and trusts. My grandfather passed several years ago, and my grandmother was the trustee and executor of my grandfather's estate. They had both signed a Joint Waiver of Agreement, a legally binding document whereby they relinquished the right to contest the... Read more »
She may have breached her duty. However, that determination would have to be made after reviewing the trust agreement.
1 niece died many years prior to Mary. That niece has 4 living children. There were never any other nieces and nephews. Just the 2 mentioned here.
The distributees are the nephew and four kids of niece.
Yes. A warranty deed means you, the transferor, are guaranteeing that you hold title to property. A quitclaim deed does not make that guarantee. Many gifts are made by quitclaim deed because they don’t have that warranty. Both are proper.
Yes. But as the forms are different, I would change the health care proxy so NY hospitals do not give problems. Also, as state law differs, if the estate is large enough, change may be warranted for NY law if that is where maker of will resides now.
Mother received a large check from retirement account and she passed away before cashing it. Her boyfriend deposited the check into their joint account several days after her passing and then closed the account once the check cleared. He now has the money and is refusing to give it to the children.... Read more »
If he endorsed a check made payable to your deceased mother he committed fraud. You can call the police and/or DA to report it.
If you believe there was a Will you would check where the decedent kept important papers, get in touch with their attorney or check with the local Surrogate’s Court to see if it was filed. If there is a safe deposit box many times people make the mistake of putting their Will there.... Read more »
A family member passed away without a will leaving his wife and adult children. His name was on the deed for their home. His wife applied for and received letters of administration. Does she need to use an administrator’s deed to transfer the property to herself? If she does, would she only... Read more »
Yes. An Administrator’s Deed is the correct instrument for the transfer. Transfer taxes may not be required If there is no consideration for the transfer. However, if the property has a mortgage, relief of the mortgage obligation is consideration.
His mom, new wife, His sister and nephew. His mom passed away in March, and he passed away a month ago, leaving no will. My son was His only child. Does my son has More rights over that property than His father's widow? Also my son's father was registered as the only owner of tittle of the... Read more »
Texas law governs this issue.
Could he sever the joint tenancy without my brother’s permission and change it to tenants in common? Also would he need a living trust to avoid probate and to designate my sister and I as his beneficiaries? Would that avoid due on sale clause since its a living trust? He and my brother are on... Read more »
I do not speak Cantonese but the answers to your other questions are yes, these things can be done. However, they are not do it yourself projects. You are well advised to hire an attorney to assist you with this
I want to leave legally-binding instructions for how my body should be treated and how my burial should go. The more I refresh my knowledge of wills the more it seems like perhaps I need something else. What do I need? It has to be legally-binding and not cost me thousands of dollars. Thanks
Generally those instructions are made part of your Will. If you don’t want to draft a new Will you can add a codicil to the Will. If you leave separate instructions or set up a burial fund it would not be legally binding unless referenced in you Will. Neither a new Will nor a codicil should cost... Read more »
Yes.
My aunt has recently taken over my grandmother's finances. She has had many issues with my father and is not a nice person. She sent my family and I a letter stating once my grandmother passes, she will have control of the house and we will have 60 days to get out. We have been paying rent for 15... Read more »
Unless you are a rent-regulated tenant or have the protection of an unexpired lease, the owner of a property (or the owner's representative) has the ability to commence a holdover proceeding to recover possession of the rental unit after giving the tenant Notice of Termination. In the case of a... Read more »
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