Months and all the assets are paper. All taxes have been paid to government and state of penn. i live in Delaware father in penn.
answered on May 5, 2023
If the Trustee ( Execeutor?) is not sharing information with you, you may need to engage your own attorney for Beneficiary Representation to obtain the accounting and release of funds (if that is appropriate). Much may depend on whether your father had a Trust, and this is a Trust Admininstration,... View More 
The decedent died and taxes were paid some time ago, but we are still waiting for the proceeds from the class action. I know it won’t be much at all. Even if it’s a couple dollars, would we have to reopen and amend the inheritance tax that has already been paid?
answered on Apr 19, 2023
Every asset to which the decedent/Estate is entitled, or outright owns, must be valued and included in the Estate for purposes of taxation and distribution.
An expected benefit from a class action suit, if the decedent was but one of a large class, will probably be disappointing. In my... View More
Sole member of small PA LLC has died. Operating agreement dissolves the LLC upon member death. Personal Rep wants to wind up and terminate the LLC. Personal Rep has letters testamentary. What PA Dept of State forms (filing of certificates), or processes, are required to authorize Per Rep to wind... View More
answered on Apr 18, 2023
The Personal Rep has the authority to wrap up the LLC as you describe it. There is a Dissolution process in PA for ending an LLC, which includes collecting all revenues and accounts receivable, paying all costs and debts of the business, getting tax clearances from the Department of Revenue, and... View More
My mom died intestate with a mortgaged home the lender sold portfolio of mortgages and in paperwork it showed owners death certificate but didn't show any documents of the 3 heirs so now the new mortgage co. Is trustee and said they need our birth cert. And signed quit claim deeds from the 3... View More
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answered on Apr 1, 2023
You should immediately seek counsel from a Trust and Estate attorney who is familiar with foreclosure actions. You should contact the heirs and open an Estate with the Sussex County Register of Wills or in the County of her residence when she passed away and have the heirs appoint an Adminstrator... View More
If a house is transfer from my father to my father and sibling as joint tenants with rights of survivorship, does a will giving the house to myself and my other siblings become void? Even if done at the same time or after the deed? Does she automatically get the house no matter what the will says... View More
answered on Mar 22, 2023
A Will, once admitted to probate, and surviving any challenges to validity, distributes assets, and pays debts, existing as of the date of death.
If, prior to death, the testator transfers property to others, then that transfer, assuming it is not invalid, diminishes what is owned at death.... View More
I know a provision in the Will can request an SNT for the benefit of a disabled child. Are SNTs created and/or funded after the death of the grantor(s)? It’s my understanding that one should not leave assets directly to a disabled child, so they don’t lose their government benefits. If a trust... View More
answered on Mar 19, 2023
a Special Needs Trust can be created either in a Will, in which case it is not funded until the death of the Grantor, or can be created during the lifetime of the Grantor, in which case it is usually funded (at least partially) when created, and additional funds can be added during the lifetime of... View More
Since it’s technically not probate property as there were already designated beneficiaries, does this require court approval or does a family settlement agreement suffice?
answered on Mar 15, 2023
While a family settlement agreement always seems like a good idea in probate/post-death matters, with the facts provided, I doubt that one is even necessary. The two named CD beneficiaries are free to share/dispose of their distributions however they like. No court approval seems necessary, on... View More
Since it’s technically not probate property as there were already designated beneficiaries, does this require court approval or does a family settlement agreement suffice?
answered on Mar 15, 2023
Not sure that a Family Settlement Agreement is appropriate here. There is no probate estate. However there will most likely be PA Inheritance Tax due on the account balance. Once the 2 beneficiaries receive the balance of the account and pay or set aside the PA Inheritance Tax they are free to... View More
answered on Mar 9, 2023
The beneficiaries are those who benefit from current or future distributions from the Trust.
The Trustee is the one charged by the Trust documents with managing the assets, seeing to all administrative obligations (tax returns, etc.), and making distributions, all in accordance with the... View More
answered on Feb 15, 2023
Directly, no, unless one or more of the heirs has signed a guarantee with the provider(s) of health care for the deceased.
An argument may be made by the creditor, however, for heir-liability, in the absence of a guaranty, if any of the heirs claimed the decedent as a dependent during life.... View More
answered on Feb 16, 2023
The heirs aren't personally responsible, but the property is.
Typically after the passing of a borrower with a reverse mortgage, there are 3 options:
- Heirs purchase the property and/or refinance the loan to pay off the mortgage
- The estate sells the property if... View More
I'm the estate administrator
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answered on Feb 13, 2023
The answer depends on the reason you deposited those funds. If the reason was just to open the account or maintain a minimum balance to avoid fees, then yes. If it was for some other reason, then the answer is you should ask your probate attorney.
She is listed as 1 of the 5 to receive money. Its her 2 brothers and 2 of her sisters kids because their mom died. Would i get what my mother was being left? I am the only child she had. The woman said she would check because of a form that has to be filled out. My mom's sister is deceased and... View More
answered on Feb 6, 2023
Whether your mother is a distributee of the uncle's will depends upon how the uncle's will reads. It's common for Wills to include alternate provisions for named heirs who predecease the testator, and your great-uncle's will may well redirect the bequest to your mother when she... View More
She is listed as 1 of the 5 to receive money. Its her 2 brothers and 2 of her sisters kids because their mom died. Would i get what my mother was being left? I am the only child she had. The woman said she would check because of a form that has to be filled out. My mom's sister is deceased and... View More
answered on Feb 7, 2023
whether or not you would receive your mother's share will depend on the wording of your uncle's Will and may also depend on whether your mother survived your uncle and then died, or whether she predeceased your uncle. Since you have been contacted by uncle's estate attorney you have... View More
The specified amount was the same for my 2 siblings and 2 charities . I live in nj but the will is coming from pa
answered on Feb 3, 2023
There is not enough information in your question to give you a definite answer, but if the total estate is not large enough to pay 100% of the specific bequests to you and your siblings and the charities, then yes you can receive less than 100% of the specific bequest. However, typically all of... View More
He has real estate as well as our house in his name only, and my mom wants her name put on the property as well. How can they go about switching ownership legally from just him to both of them, so that her name can also be on the deed?
answered on Jan 30, 2023
Transferring property from a husband to husband and wife jointly (tenant by entireties in Pennsylvania) is easy so long as there is not an outstanding Mortgage loan. Just need a new Deed from your father (Grantor) to your father and mother as husband and wife (Grantees). Since the transfer is... View More
He has real estate as well as our house in his name only, and my mom wants her name put on the property as well. How can they go about switching ownership legally from just him to both of them, so that her name can also be on the deed?
answered on Jan 30, 2023
Easy to transfer title ownership.
Your father can sign a deed from himself to both his wife and him, and probably as joint tenants, with right of survivorship so that when one dies, the other owns the entire property automatically. He then records the deed. There will be a fee for that by... View More
My oldest brother is having serious health problems that could possibly be fatal. He has incurred some medical debt due to having no health insurance. If he signs over his 5/8 share of the property to the rest of us, can we avoid paying his medical bills with the estate if he should pass away?
answered on Jan 11, 2023
PA has a "fraudulent transfer" statute, to defeat the give-away of assets by a debtor or soon-to-be debtor intending to make himself "judgment proof". The reach-back period to recapture transfers of property for insufficient consideration is four years.
You don't... View More
Father passed away in 2017. I was named the sole executor and beneficiary in his will. The will explicitly outlined this property as belonging to him and being left to me in the case of his death. Suddenly a silent business partner that walked away four years ago exerts that he is half owner of the... View More
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answered on Dec 2, 2022
Dear Executor, without more details it is difficult to give you an answer as to what recourse you may have. That aside you are the Executor which means that you step into your Father's shoes regarding the disposition of his assets. The attorney that represented the Estate should have... View More
document in order to collect funds but I don't know exactly what I need. My mom did not own a home or have any assets can someone give me a clear answer on what I need to do and please talk in layman's terms so I can understand please.
answered on Oct 31, 2022
Since your mother had a 401k plan, she should have designated you as beneficiary (or one of several beneficiaries) to receive the account. If she did not designate at least one beneficiary, then your mother died Intestate (without a will) and Fidelity is describing a Small Estates Petition in... View More
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