Probate Process From Start To Finish
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- Опубліковано 26 лют 2020
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There's a lot of talk out there about avoiding probate, but many people really don't understand the steps that are involved in the probate process. So I thought I'd share the actual steps that me and a family are taking to complete an actual probate. Here are the steps:
(1) Review the will;
(2) Review the assets and debts;
(3) Prepare pleadings to have will probated and executor confirmed;
(4) Communicate relevant facts with all the heirs;
(5) File initial pleadings at courthouse;
(6) Wait for judge to sign initial order that will is valid and executor is confirmed;
(7) Get several certified copies of "Letters of Independent Executorship" from clerk of court;
(8) Obtain Tax ID Number from IRS;
(9) Executor opens estate accounts at investment firms where brokerage accounts are frozen;
(10) Executor moves assets from frozen accounts in deceased's name to estate accounts;
(11) Executor pays out specific bequests of money to heirs;
(12) Prepare inventory of assets and debts pursuant to court procedural rules;
(13) Prepare final court pleadings and submit to heirs for Verification;
(14) Final court order signed by judge ordering assets disbursed from estate to heirs;
(15) Transfer assets from estate accounts into heirs' newly formed accouts;
(16) Review capital gains tax and income tax consequences with all heirs;
(17) Executor sees that final income tax return is prepared.
This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
Paul Rabalais
Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450
Having a proper estate set up including a trust, living will, power of attorney & advanced health directives is so vital to avoid your estate going into probate & having to deal with probate court
Plus, a complete administration to appoint guardians for minors, prevent conservatorships, fund, record, monitor, arbiter, validate, transfer, distribute, plus dozens more steps to settle a peacekeeping administration with histories most valuable legal niche, a NICER Certified Pro Bono Hollywood style Trust Reading.
1:40 Contact estate attorney
2:15 Will review
4:01 Independent administration
4:55 Agreement of heirs to independent administration, court pleadings
5:44 Disposal of "payable on death" assets
6:26 File stack of (unspecified) pleadings and agreements
7:02 Wait to hear back from court
7:35 Confirmation of executor
8:31 Order admitting will to probate
9:02 Grant of letters of independent executorship (formerly "letters testamentary")
9:41 File with IRS for taxpayer id for estate accounts
10:25 Establish estate accounts at financial institutions ("X as executor of the estate of Y")
11:47 Disposal of designated-beneficiary assets
12:42 Disposal and acknowledgement (via receipt) of assets explicitly named in the will (non-residual)
14:09 Prepare detailed list of remaining estate assets and liabilities
14:51 Prepare more (unspecified) court pleadings stating debts paid, explicitly-named assets distributed
15:39 Wait for response from court
15:50 Accounts established for each heir receiving a portion of the estate residue
16:29 Retention of a portion of assets in anticipation of filing decedent's final tax return
16:50 Conclusion
17:22 Tax treatment of inherited IRAs
17:50 Inheritance tax, capital gains tax ("step-up in basis"), estate tax
18:39 Will vs. trust
THANK YOU
Thank you SO much for putting together these time stamps! You made this so much easier. Not all heroes wear capes.
Your video is the best and easiest video I've ever learnt so much information and I understood. You have a gift at teaching. Thank you so much! What a clever man.
Thank you for taking the time to create and post this informative video. My father just passed and I have a lot of research to do. Thank you for pointing me in the right direction!
Thanks Paul for doing these videos. I found them to be informative and help.
I love how detail you are! Thanks for the information
Wow! My father just passed with no will and assets in his name and it's a mess. Thank you for this it was very informative!!!
MINE TOO, HE WAS AN IDIOT! MY BROHTER THE CRIMINAL ALCOHOLIC WAS THE POA... CAN YOU IMAGINE?
Wow just curious as to how long did it take to settle his estate
@@Happyflower_gyal like a year
My husband of 15 months just died. He had no living will or assets. All his insurance policies were left to other beneficiaries besides me, so Virtually, I was left with nothing.
Because he died as a result of a car accident, I filed a claim against the driver that killed him. That driver had limited tort, so my attorney turned to me and my husband's car insurance policy for compensation. They did grant the claim, but it's been granted in my husband's name. Now I have to open up an estate in his name.
I need to know what to do. How long will I have to wait before the estate closes?
I have a PI attorney, but I need a probate lawyer to help. Sadly I can't afford to pay 2 sets of attorney's.
I'm
Ok
You're a very good teacher. Thank you!
As a real estate investor, I get people who contact me in probate pretty often. Videos like this help me a ton.
can you sale a house before probate and then divie out the money accordingly
why would someone contact a realtor during probate
This video, consistent with all your UA-cams, is quite informative. Thank you for this service!
I was wondering if you would consider a To-Do List one could use to ensure all is prepared and ready for ones own death. Death & taxes are both a surety and I would not want to leave my executor with any problems when (not if) I die.
Probate is very depressing. People get very greedy and it's a long drawn out process where lawyers just disrespect your loved one and steal everything.
Yes I am in a true 100 percent agreement with you. I both recently have and still are. With multiple cases all at the same time. I have paid three atturnies in full. Over $31,000 one attorney is in a neighboring state. They still asking for more. The probate case I just lost. I lost 100 percent of total realestate worth $295,000.
You deffinitely DON'T!!!!!!!! Know where I am at right now. Not one of the elder family members made out a will. There is only us two siblings left. My sister is both wicked and evil. The amount of state laws that she is breaking. By stealing and selling illegally is truly unreal. God I need to stop right now.
I agree. That has been my experence so far. The lawyer is a scumbag.
Damn
They’re just doing their job 🤷🏽♀️
My sister rushed me off to rehab before what would be my moms last Christmas coerced me into signing something after her death while i was still suffering withdrawals six years later when i ask about it she turns into the devil has had me arrested on false pretense and tried to entrapt me twice @ariesmight6978
Super intresting , he does a great job of breaking this down
WHAT? A Video with *actual Examples* ??? Thank you!
This was very informative and important information. We had been trying to get my father in law to get a Trust or give us POA, but he was a “know it all” and extremely stubborn man that thought he had it all under control and didn’t trust even his 2 sons with any of his financial information! And did I mention that my mother in law had Alzheimer’s and he was her sole caretaker! 😣 So He fell and broke his hip and never recovered from surgery and died 45 days later. We had to move into their house to care for mom and then file for Guardianship, what a nightmare.😢 We put mom into a memory care facility and she was happy there, but kept falling and declining. We eventually got guardianship, but soon after passed away. Now we’re trying to get the guardianship accounting completed and closed. OMG All while filing for Probate for both of them 😱. I’m telling you all this to say, Get a Trust, don’t put your family through this nightmare!! People, push your senior parents to get a Trust!! Don’t let them get away with thinking they know it all!! Just Do It! ❤
Thanks, so important, I had no idea, WOW., mindboggling, I'll watch a few more times, make plans.
Very help full just getting started
Thank you. Very informative!
Thank you for all your the very informative information .
thank you, this is very informative!
Isn't it simpler to put property in a "Transfer on Death" deed & add beneficiaries to life insurances, bank accounts & investments?
Thank you Paul!
You’re welcome JL 😃
You should see probate law in Canada. It’s been a year and my brother and me are starting to go a little stir crazy with all the paperwork that the lawyer sent to the court only to have it returned because a paragraph or sentence needs to be reworded. I think the judges do it for their own amusement.
lawyer drawing it out for more fees??? worth a check
Very beneficial information and timelines.
The same court issued a check for my deceased brother. I am waiting for the DOJ on that issue. Took my brothers inheritance and I made them aware of it.
❤️❤️awesome information
thank you for this information
Probate is AWFUL nightmare, 5 years and still waiting to transfer everything from my later fathers estate and move on with my life. I've spent 165k maintaining the estate.....I can't sell as the legal heir to downsize because i don't have the title to the home....YIKES PLEASE put your assets in a trust rich or poor !!!!!!😫
A family member was managing my mother's Certificates of Deposit from 30 years ago till recently. He was to report all the interst on his return, paying the tax, takng only the tax liability out of the matured CD's, then reinvest or rollover the CDs once again. In the end, he took all the interest and only distributed the beginning balance of total CD's taking 100% of interest income less the tax portion. Is this a probate court issue, or anoher court? My mother had no will or living trust. We only trusted this family member to do the right thing. The CD's were kept in 5 children's names but he managed it totally, and in the end took about $80,000 in remaining interest thru the years. Please repsond to our plight, and would be most greatful. THUMBS UP!!!
Will names two executors: "coo- executors" trouble and complexity? (one executor lives several states away from the area where the deceased had her accounts and where the Probate Court is located)
Estate account could have been moved to an interest paying credit union instead of to a bank checking account (no interest) ? but the other executor does not want to do/allow that
estate account in checking could have been retained keeping some money in it but the balance moved to another estate account (with the same title "estate of" and same EIN number as that of the checking account but earning interest in CDs or other "money market savings" ?
Thank you for sharing
Re: Savings bonds. I as the executor put all the bonds in an estate account at the US Treasury. That step digitizes the process and removes paper. Then I had the beneficiaries set up accounts at the US Treasury. Once we passed the 6 months hiatus (for KY), I used the judicial order to direct the US Treasury to move specific bonds to specific beneficiary accounts. Surprisingly, the US Treasury has a special office outside DC that handles it. It provided a terrific electronic trail, set up a quite easy redemption process for the beneficiaries (a few clicks), and most importantly, allowed the beneficiaries to continue to hold the high interest, 4%, bonds to maturity, +10 years. Paper bonds are not very convenient for anyone, especially clerks in a government office. Handing them out with death certificates obviously worked, but I would bet it took a while.
One other related note: Savings bonds in the IRS code have specific exemptions to rules on a revised cost basis from probate. Though the bonds moved through probate, the cost basis remained at the basis of the original purchaser.
Thanks for sharing
Excellent, so timely. Thank you. You explain this so much better than my attorneys. Does the real estate in a trust need to be sold to get the tax free transfer?
U do realize layers don't care thay just want there stupid f*** money
This was very interesting and informative, thanks you for posting it. I think the audience would benefit from knowing the approximate cost of a similar probate ?
Thanks Paul
Thank You for making this info so easy to understand😇
Excellent question!!
How about the effect of putting real estate in a trust and how assessors may treat the homestead exemption.
great info
Thanks 😎
You are my favorite genius. I need your help so bad, if you can answer me please it is very important. Thank You and thank God for you.
So what does executor have anything to do with getting your deceased parents medical records 🤔 I've been trying to learn about this probate stuff I don't even know why hospitals or medical facilities would even ask for one. Just like I'm reading the executor handbook it mentions nothing about medical records. It's all about Will's estates etc. If someone could help me out I would appreciate it.
A line graph on a lecture board depicting the respective heirs would have been helpful to better connect the steps to .the probate process.
What happens if the original will is lost or cant be found.
So it looks like it's the best thing to do is have a Living Trust? Thanks
Thanks
Thank you for the video. What happens when you only have a copy of the will?
If two out of four children were disinherited and specifically named in the will as being disinherited, can they contest the will and what would their chances be
I have a beneficiary (wife) in Arizona that has obtained an attorney and has asked to transfer the title of the home jointly owned by them just 25 days after the Notice to Creditors in Probate, she was involved in a Auto accident prior to the death of the decedent and was sued with the insurance company. I have asked for information regarding to the status of the case with no response. I have been looking for information as to waiting for the 120 days to transfer the home and stocks just in case a claim is filed against the estate. Any information is appreciated ,
Thank you
So the brokerage account your talking about is done with a real estate company?
Going thru this now eith the passing of my father last year and already had to fire one attorney.can you tell me usually if 1,do attorneys get paid monthly and 2,can anyone do probate by themselves?thanks
My mother and father passed away with a will and is still a mess.
My independent executor, an experienced lawyer and law professor in La., says he can do special and initial residual distributions without going back to court as long as he sets aside enough for debts and fees. Is going back to the judge always necessary?
I need to go through probate for my son. How is that process ..his dad died and because he's a minor I have to go through probate for guardianship of funds. Should I get an attorney or do it myself?
I have no problem as long as you asked them if you can use them as an example without names. Just ask.
Where do you obtain the forms needed for circuit court?
Hello, I notice it’s been a year since video has been posted . I’m curious, do you still review and answer comments?
My father passed away almost a year ago now he left a will appointing my oldest sister as the p.r now are stepmother is taking us to court cause he did not put her in the will also they was 3 days from getting a divorce wondering if you have any advice that I can do or even bring up in court she has not ask for his ashs pictures or to help take care of his bills or creditors all she has said she wanted is anything worth money
My Dad passed on ,I never got to see my Dads will do I have rights to see it,and how do I go about it.
Hi..... Is. Probate sensitive in the will???
What i mean is if 2 will exists, the the old will will probate the new will will hide... Is attorney Notice of that??...? Is that noticable during probate?????
Is the trouble and expense of probate highly specific to the state where the deceased was resident of ?
Court can periodically charge a fee for as long as the probate remains open ? Fee can be considerable as for instance, $1800. even if the jurisdiction doesn't have "inheritance tax" ?
Best to pass on as many assets as possible outside of probate? "payable on death" "transfer on death" "beneficiaries" ??
One of the main purposes of probate is to make sure the estate properly pays the debts owed by the deceased before assets get distributed to heirs ?
Hello from California!
Two part question- since taxes need to get filed, what happens to a possible refund? Or if taxes are due?
Enjoying your videos.
Thank you
seems like would add to the deceased estate account opened for probate place for funds.
As a paralegal just starting out in probate, thank you haha
I was listed as executor over my uncle’s will and my other uncle is fighting against me based on a verbal agreement no one knows about over the house can he do that
@America's Estate Lawyer - Is there a way to get to you? I wanted to clarify a question please.
What does it mean when homestead is not entered on a probate?
Are cars an asset that is frozen in probate?
Okay I know someone who's parents died and one of them gotten ahold of the parents credit cards and started buying things and they froze all the accounts what's going to happen to them since that's happened and there is no will
Does this apply for the UK?
If POD beneficiaries were already named at the brokerage account records, would probate be avoided on those assets?
Yes, they would automatically go to the beneficiary on the account.
So what would happen if said Ed had mid to late stages ofalzheimers and was in no way of make decisions, would it then pass to the next beneficiary
What if the heirs/legatees will not agree to making Ed Ind. Exec., I guess you would have to petition the court to ask them to compel making Ed Ind. Exec. or a temporary Ind. Exec.?
Hi, Paul! I know you can't go into detail answering a ton of questions re: multiple and disparate potentials re: every probate; however, rest assured-I'm *only* clarifying your reference to multiple death certificates! 🤗 I'm a paralegal, and so I'm curious!🙏🤗 Seems you mentioned about twelve death certificates! Since there was only one decedent (Teresa, the Testator😊), what were all those death certificates for? To whom were you going to give them? Did you simply order multiple copies on the one decedent's death--in case you needed them for multiple purposes? That's a high number! 🤷♀️ Thanks! I'll be checking back! Hope all is well with everything going on on the world! We're doing Zoom court meetings, and limited court house meetings in my State, now!🙏🤗🤗
@Itsjusta Hemi In our family going through the process we needed 8 death certificates because you need them as official records to close out and cancel accounts. A company called www.weareatticus.com help us understand what steps we needed to do after my dad passed.
Fellow probate paralegal/legal assistant here. Multiple are needed because some businesses require original death certificates, though in my experience most are ok with a photocopy. We’ve never had 12 in our file; usually 3-4 is enough for our purposes (in WI).
@@TheDecoCottage bank will certainly need the original!
Is a Roth IRA consequences the same as a IRA?
Do you know if a mortgage is a deductible value from the Value of the estate? In other words I sold a home for $200k but it had a mortgage for $80k on it so I only got a check for $120k, but the probate lawyer wants to charge the estate for a $200k home..
Her assets minus her debt. Both have to be file with the probate judge.
My husband and I had seperate revocable trusts with pour over wills. He passed away last year. He did not fund the trust. He instead left things outright to people such as tod and what we owned together went directly to me. I brought it to the attorney and she said there was no need to probate. I received court papers to the affect that no taxes were due on the estate. Everything was fine. I paid all the outstanding bills of his and distributed things according to the trust. His brother died 3 years ago. He left money to everyone in his will. Being a brother my husband did not have to pay taxes on it. The sum was $17000 a small part of the estate. The attorney said everything was fine. Now a year later she telling me this amount must go through probate because the executor of the brother’s estate said he can’t close the estate unless it does. Everyone else has received their inheritance except for $300 each being held back by the brother’s estate. So now I have to pay my attorney $2000 to go through probate on my husband’s settled estate/trust and the heirs of his brother’s estate have to pay their attorney. This doesn’t make any sense to me since everything was settled already. We wanted to avoid probate because of expense and the heirs are satisfied. Why would the executor of his brother’s estate insist on my husband’s will pour over and trust be probate. It seems like it’s none of his business and costly to the trust. What am I missing?
You can file a cheap version and disclaim it.
Actually in my state, he can deposit the funds to your husband into the court.
What is a estimated time of the process?
I wish there was a law that stated the time period this must be done in. Instead its too ambiguous.
Cicely bluestone probates needed due easter 2021
My sister stole my father's business from my mom after he died. I'm executor and I'm going to be filing a summary of administration after 2 years. She's kept us out of the mail bank accounts everything. Will she go to prison? I hope so
Update??
I called the lawyer after getting the probate letter saying I was one of 5 on the will. He said they don't have all parties meet and go over anything. I was told I don't need to anything but just wait for the closing.
My step-sister (who won't communicate with me)!was put in charge and I notice she tried to sell the house a few months before the probate was filed now puts the house on the market then takes it off market. Can I call the attorney to make sure all is being done truthfully and to find the progress? Thanks.... Not wanting conflict I'm just hoping she will fairly split everything equally 5 ways as she has said she is very spiritual in the past
Good luck
Hey Linda. Im in a very similar position. Do u have any updates just curious on your progress or outcome
Have to file will and assets and debts with probate court. Suggest look their for paperwork.
When my parents passed on, there was no probate. They both had revocable trusts and their assets were transferred to us, to the children. When does a probate process get initiated involving a judge or a court? What action triggers a probate process? Is it when someone seeks ownership of their parents’ assets?
In my case, my friend died with no kin listed. He told me he’d handled all his affairs but He left a set of bank keys to a security box on the table the morning he died. No clue what’s in it. I’m not listed on the bank box and must go through probate. Idk if that helps at all.
I work in probate law. There was no probate in your case since all your parents assets essentially had beneficiaries named (the trust) so it became a trust administration instead, where everything funneled through the trust.
Probate come into play when a person passes away and didn’t name a beneficiary on certain assets. I’m not an attorney (but work for one) and we’ve done probates as simple as having a residence as the only probate asset to as complicated as having to add multiple bank, IRA, stocks/bonds/mutual funds, 401K, and real estate as probate assets because no one was listed as a beneficiary.
It’s worth hiring an attorney to do some estate planning. Costs a couple hundred dollars up front, but saves your loved ones thousands in legal fees on the back end.
Once the assets in the decedent's name, it will require a probate.
@@TheDecoCottage Does having a will also bypass the probate process?
Hello..as the probate lawyer, are you responsible for finding all assets of the deceased if the family really doesn’t know all of what deceased has?
From what I assume yes they are they handle all the hard work and headache for you so you don’t have to do it yourself. But it is kinda costly though. But trust me get a lawyer because unless the person that died had everything in place you gonna regret taking that on.
Hello. I have a few questions. My sister, executor, is hiding my fathers WILL from me. My other siblings have seen it. My mother passed awsy last year in a different state. The probate office where my father passed is lying to me, and keeping the WILL from me as well. What can I do? My sister said early on, "I'll never let you see the WILL." My brother told me they came out right before Dad died, and MADE him change his WILL. To make it easier on everybody, he said." About a month before my father passed, he started drinking heavily. From noon til bedtime falling on the floor at night. He drank before dinner all his life. He was a functioning alcoholic. I believe whatever they did made him so unhappy he increased his drinking. He passed away suddenly, although being treated for a blood clot. The EMS was there, no police came. Just my mother and neighbor at the house. I was called home. The EMS wouldn't let me see him. No police came. I signed the form for EMS. I asked what was put for cause of death. EMS said heart attack, and took him to funeral home. No autopsy to my knowledge. He passed in 2008. But a lot happened then. I still don't know why my sister is now hiding my mother's WILL. Probate office where my father passed still won't send me a copy of fathers WILL. I don't know if it's the amount of money or something else that bering hid from me. Any information would be helpful especially on saying heart attack. Don't they have to do an autopsy to put that? Is heart attack a cause of death on a death certificate? Thank you! Just anything you can tell me is appreciated.
This is the exact thing happening to me. It's been over a year
Better get ur own probate lawyer
I was talking to a lady who’s went through probate .Her father passed away ,I don’t know if her father died before Covid.She told me the clerk of court is very slow it will take 8 months to a year, maybe you have the same clerk of court . I’m supposed to be in a will and never saw the will.I talked to a secretary that worked for a lawyer ,she told me their was nothing the lawyer could do until probate.
No incentive for the government office will lie to you on this. Get a lawyer!
How long is the court process to remove personal representative after judge requests all interested parties are served with the petition I filed proving personal representative submitted a copy of a fraudulent will because I found and filed actual will
What happened?
I'm hoping you can advise- my husbands grandma passed recently and the will we found is from 1996 when her husband was alive so his daughter is named executor. My husband is named in the Will, for something else. Will he be reached out by probate court? And if so, if we don't sigh the waiver that probate court gives, what happens?
In other words, we don't believe this will should be valid and think it's needs to be contested.
How did it turn out?
Will should be valid.
There is a huge story here. One of the pages that were signed and witnessed didn't have the county on the top. What do I do with that? The clerk was not very nice to me about that. We had a joint account he listed as owner/primary. He had not a penny w/no beneficiaries on this will. There is nothing being left to anyone at all. This living will is cut and dry. It does not have heirs, beneficiaries, or the like. There is a clause for his stepson to take care of his dog. Once again, will be witnessed and written back in 2013 leaving me w/ a hot mess!!! UGH. I will get those witnesses to sign another affidavit because the clerk wants that. Gee, I wish I were Ed I'm pennyless now!! UGH. This sucks, I'm a college student going for my PhD as a clinical psychologist. He was not supposed to leave me!!! I was supposed to take care him for the rest of my life!!!
What happens when there wasn't a will? Why would the probate attorney ask for the tax W2 of the person who passed away?
So have some idea how much money that may have lying around this year. Also dead person still has to file a tax return for year died.
I’m wondering about how real estate willed to multiple heirs is handled.
Sell it and divide the money.
Paul, our uncle passed away on Christmas, my husband is a beneficiary but my father-in-law does not want to share inf about the will, he is stating that all of my uncle's annuities have him and his brother and deceased sister as beneficiaries. What do we do to find out the truth?
go check out records in probate court they had to file with clerk.
My father passed I’m his only child and his nephew claims my father had a Will and left everything to him I never saw a Will how do I find out if their was a Will or not?
Yes find out if there’s a will cause he can lie and take everything just because.it’s illegal for him to do that but he still as to probate the will anyway if he wants those stuff legally In his name it if there no will if your father doesn’t have a wife everything automatically goes to you if their aren’t no outside kids that’s pops up out of nowhere.
You need ho contact a probate attorney ASAP!
how about cost differences for setting up an irrevocable trust to avoid probate vs probate court costs? my state massachusetts has high probate court costs and naturally taxachusetts wants their piece of the pie. which is cheaper paying a lawyer to set up the trust to avoid probate or going through the probate process?? what if theresa had just named Ed as beneficiary on everything and put his name on her house deed and instructed Ed to disburse the estate the way she wanted then there would be no court costs, no lawyer fees, no one looking to make a buck off a loved one that passed? the only exception there would be Ed and if he did the right thing i guess or got greedy and took it all right? you’re fucked while living and you’re fucked when you die too. it isn’t bad enough you paid taxes on your money all your life, when you die your state wants fees and delay everything and you pay a shark (lawyer) to divvy up everything appropriately
see lady bird deed. Have right to live in house until death or deed on death. Are other ways to do this. Can do deeds where have right to live in house as long as live. Can even do a trust where control all and can change it and house goes to whomever you want when you want. See lawyer. Consultation worth it. Go to a probate lawyer.
What happens if a step Mother has half ownership of a house? When and how does that get arranged?
When bought house added both names or can just go to court house and add name to the deed. Pretty simple. The hard thing is to get someone off the deed. Will probably just force sell of house to get kids half.
What about matured stocks in the state of birth..why have they not been disbursed..now 3 years later
I'm forced out my grandma house. Water turned off car n trailer stolen. How do I put lien on house
Go to court house and file a lien.
Wouldnt beneficiary designations(primary and secondary) on all accounts have accomplished everything the probate does , with exception of real asset sales which would need an executor to sell, without the account freezes?
Good question! Unfortunately, certain brokerage accounts do not permit beneficiary designations. Many do (such as retirement or IRA accounts) . Hopefully people take advantage of making those designations while they are still alive as part of good planning!
If an account allows for specific beneficiary designation, then you absolutely should name primary and contingent beneficiaries on them. Those assets then avoid the probate process.
So 6 months ago I ran into an opportunity to buy out one brother of 2 brothers who inherited their father's estate which was in probate for 4 years they needed it to close the probate and 1 brother wanted to sell the other brother didn't want to sell. The brother that didn't want to sell was my Harley master mechanic guy My boss was convincing me for a year to do this and I finally did it on the 11th hour 6 months later The brother that stayed on the deed with me after we closed passed away due to a heart attack we had an agreement to write a will for me to receive his half of the house for saving his a** he never got to it now I the brother I originally had to purchase the 1/2 interest of the estate will be assigned as the Executive , I was wondering what kind of power for lack of a better term do I have in this situation
Can you please provide an update? I'm going through a similar situation. Thanks.
What about Estate Recovery when someone used state health Insurance?
medicaid has a five year look back period, though some states have less. The cost of care of senior is what they want to recover.
My grandfather past November of 2023 and left my mother the will. Even though, she has 6 siblings, my grandfather wanted my mother to have something. However, my Aunt hijacked my grandfather’s bank accounts and stole everything. She even hired 2 attorneys. The system is so busy being corrupt, that they don’t care about what’s going on down here. We hired 3 attorneys and 2 of them, we believe we bought off by my Aunt. My mother has done ALL the leg work!! All a lawyer has to do is present it to a judge! Can’t get a lawyer to do what you want them to do! United States traded our rights into privileges! Local courts doesn’t honor the Constitution! If it’s corrupt on top, we don’t stand a chance for ANY recourse down here. Smh
My Dad is 87 Years old & not doing well. Dad has NO property & is in a Nursing home. He does have Mutual Funds/IRA's with an Invest firm & all of that money has beneficiaries attached to it.
Do I have to probate his estate eventhough his money is all spoken for? (I am Dad's executor & there is a will)
there was no will mother passed only one child name was on the property there are 10 other children's living how would this turn out in probate court.
So who took care of her? Was the child that lived with her and took care of her the one she left it to. Do not be too bitter as if no one else would have cared for her over the years the government would have taken it for her care.14,000 to 30,000 per year is what it ends up costing. They take the house, the savings, the car, and whatever else. Better you sister or brother got it for caring for her better than the government would. 40 percent of caregivers die before the patient due to the stress and ill health brought on by the demanding parent and the grueling work of lifting the body over and over to change or bath the patient. Backs and knees go first. Most caregivers gave up life, job, home, and sometimes a marriage to help parent and most end up dead, sick, of financially bankrupt.
Any help I from las vegas nv my wife passed away Melissa perez that funeral casa de Paz from las vegas nv thay gimme fake fraudulent death certificate no power attorney want to help me that I do
Will probate court take longer due to Covid? My dad just passed away from Covid and left three mortgages.... pending... any advice.
Also, is a probate attorney the same as an real estate attorney?
I’m from Arizona
My case took long bc of Covid normally takes a year or two from what I read but it’s close to 3 years now for me
Mine is still probate it's been a year
Thank you,however too much talking not enough info. I guess I will stop by the court house myself and bring all the paperwork
I’m half way through this video and don’t know what relationship this Mr “Ed” is to the deceased. In Florida the executor/personal representative has to be a relative unless they decline or are not available.
Mmmmm. That doesn’t sound right. With a will, you g et to nominate an adult of your choosing. Key words: with a will. It’s when someone dies without a will that the next of kin might get first dibs at acting as administrator. If immediate family members decline, then the offer can go outside. That’s how it works in NY state.
@@annamelanie5151
“To qualify to serve as a personal representative, an individual must be either a Florida resident or, regardless of residence, a spouse, sibling, parent, child, or other close relative of the decedent.”