What Happens to Your Stuff Upon Death? Probate vs Non-Probate Assets
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- Опубліковано 23 сер 2024
- You work hard and save so you can leave a little something for your loved ones. Right?
But do you really understand what happens to your stuff after you die? How do assets transfer after death?
I’ll explain both #probate and non-probate assets, with lots of examples that you’ll probably see in your own life.
Listen to the end, because you may think there’s a logical shortcut, but I’ll explain why that’s usually a big mistake.
Full blog post at: anthonyspark.co...
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That was very informative. If I didn't know better I would think you're a mind reader. Just in the last few day I have been wondering about this stuff. Thanks.
Google owns UA-cam. you likely search about death like me recently cuz I just got this suggested too
I work in medical field..Hard facts are;what you value ,others won't.
Your kids grab & run, except the one who was with you through it all- that one gets their inheritance stolen by siblings.
Unfortunately, this DOES happen. Seen it more that would’ve liked
My brother stole mine. Undo influence, but nothing I could do about it.
Eyes on the prize sad but true...i agree 💯 %
Screw probate courts.
I’m watching this during the pandemic. I know there’s a lot of things that are being left behind. Good info.
Talk to an attorney about a quit claim of home, quit claim with rights of survivorship, that way property goes to the ones you want it to go to and not their spouses. Laws may vary.
A joint tenant of survivorship is more ironclad clad than a will.
Thank You. That is very insightful.
I'm watching from my camper home in Clanton Alabama with my 2 dogs
Well, if you don't collect it soon after you respawn it disappears
Hey Anthony, great information for people to help protect their assets!
My mother is married to a man with 9 children, they're both getting very old. I'm left with taking care of things when they die. After listening to this video, I'm a nervous wreck about what I'm going to have to do. There is a lot involved with this. A house, car , personal belongings, money extra. They don't want to talk about what I'm supposed to do when they pass on. They think that it will all be very simple. I don't want to have to deal with all of that, but I'm going to have to. I'm so confused about all of this now.
There’s no easy answer. If they don’t want to talk about it, then just have a good lawyer, and possibly a professional executor, at the ready to swoop in and run the situation when the time comes.
Until then, don’t worry yourself over an uncertain future.
Thanks for the video! I have a probate midterm test today and this helped me to review~
You are very welcome. Good luck on your midterm test
Don't forget the state is the first creditor. I owe 24,000 for a handful of 30 day stays. It's a debtor's prison. $130 per day.
I wasn't listed in my pops will but I got a bill from my state 2 weeks after his passing.
Estate creditors are aggressive: they’ll try to collect from surviving family who aren’t legally obligated to pay.
We talk about that a bit here: ua-cam.com/video/loadH8WxZx0/v-deo.html
I live in georgia, usa. My dad died 1 and ahalf years ago and with a lawyer,we as in two children was informed that if there was no bills due then if we both agreed apone all being split between each other then you don't have to go before a probate but fair warn there will be a lot of bumping heads between the aires. As there has been and the lawyer had to be the go between the aires ( poor guy). But now getting most of complete. And if you go thru probate its going to cost alot of losses in asets. The lawyers and all get what you can work out but when its over but you might end up not being as close as you once was!!! Fair warning!!!! And no in heneratace taxes in ga.
Great information to protect our assets. ♡♡♡
ME!!!! WHAT STUFF!!!!!
I have to trace my own money from decades ago in one old Federal Credit Union - Peremco (now defunct) and same in one Bank - NatWest Bank. Can you do a video to advise someone like me? Would appreciate it. Both accounts were in NJ. Not getting any answer from the phone calls I am making.
Thanks for making the video's.
Your stuff ends up on utube with strangers going threw your house with cameras
Unless you designate what to who they fight over all. I had 2 cousins fight over their mother's wheelchair while she was still alive but on her deathbed.
Cliff Owens:. OMG. Never heard that one before!
That is not nice to do.
THIS IS IMPORTANT EVERYONE. NOW LISTEN. YOU DONT WANT TO BE ANOTHER SATICSTIC. OF PEOPLE FIGHTING OVER YOUR STUFF. AND DIDNT CARE ABOUT US. WHEN WE WERE HERE.
Never volunteer to be the executor (personal representative) of a relative's estate! Want to see the ugly side of your family??
💯
@Anthony - Can U update for SECURE Act?
I have a trust. All of my assets are in there.
👍 Just make sure EVERYTHING is in there, else your heirs will still need probate
Father in law had a trust. Never put his car in! New checking account was not put in! Had to probate. $$$ spent.
Bingo, exactly
Anthony S. Park PLLC EVERYTHING is in there.
People take what they want and throw the rest away.
Very true
Nice stuff could be donated too, if still in good shape.
WHY WAIT UNTILL YOU ARE DEAD...
WHEN THE HELP IS NEEDED NOW AND WOULD BE HIGHLY APPRECIATED.
NOT TO MENTION YOUR FEELINGS THAT YOU HELP YOUR LOVE ONES...
Agree 💯. The best “estate plan” is the spend or give it all away while you’re alive.
Can anyone answer how long or if there is a limit on time for a heir to get inheritance in Texas
In NewYork, there’s no set time limit.
When 1 year has passed since the executor received his court appointment, the court will want an update/explanation if inheritance checks haven’t gone out yet
Great video
So who is considered a heir if a sibling has no children. 2 sisters and a dad. Who gets his things is it entitled to all of us or just his dad? Although his dad was never in his life my mom n I paid n maintain the property.
Your stuff gets frozen,put in a box so a judge can throw it at people.
P.O.D. for checking account and some other financial accounts. Easy. Free.
I talk about why this is usually a bad idea
Thanks great video!!!
💓🌏💓🌎💓🌍💓
2019🇺🇸💓
Is it the same laws in California?
How about
Right on my father passed my sister did whatever she wanted couldn't kontest It Was Written in the wll but she did not respect his wishes you must write up your living wishes
You have to have assets of 250 or more correct? There are qays ro avoid probate to
Put assets in trust name. Have to see an attorney and create a living trust - a living will will go through the court system.
My will, Upon my death, build me a pyramid, I'm taking everything. 😄
Great video, especially for my financially ignorant @$$!
My stuff? What stuff? I won't have a thing at death. No home, no family, no money and no life! So my death is going to have ZERO!
😣😣😣😣😣😣😣😣😣😣😣😣😣
I too have a lot of assets, but no family..no one at all, no one to even bury me..
A professional executor can handle your final affairs, burial, etc.
Leave your stuff to a worthy charity?
@@AnthonySPark
Thank you so much, I really thought I would have to lie in my house and rot.
About how much does a will cost that includes all that you mentioned?
Anytime. Depends on where you live, etc.
Ex. Here in NYC, anywhere from $800-2,000 for a solid lawyer
Govt. will find a way to bill you even in death. If you feel it coming sell it all and offer scholarships at your favorite pole dancing studio.
Is this federal or state?
Mostly state law.
Only estate tax is federal, but that only applies to $5+mm ($10+mm for married couples)
My dad passed away and his will has my oldest sister as the exective of the will but she passed away 9 year ago and my dad never got around assigning a new executive of the will which would probably have been me since I'm the next oldest sibling. I have 2 blood sisters and 1 step sister and 1 step brother, they both are in my will making that 5 people to split my dads property. Do we need to go thru probate court? We don't want the house just site for a year or 2 while going thru probate. We are all ready to sell now and have a buyer.
Yes, probably have to probate it. Unless someone else’s name was also on the deed, or unless the deed was in a trust.
@@AnthonySPark My step mothers name was on the deed but she also dies.
It ends up in a yard sale or the dump.
What about debit cards loose cash wallet contents ect
Good question. We’ll do an episode on that soon
I just want to know if your loved ones go through all your CPU files n shit, and find all your secrets!
Yes, should be the one agreed to be the representative in order to get pertinent info, accounts, savings, debt, life insurance, different policies, etc
@@lady120297 what about your secret nude photos?
@@justinkrann7406 they may stumble upon it just like someone looking for something in your closet or anywhere else to find what they need may find something you may have wanted to maintain hidden (don't have it then)
It only does any good if you know what court your siblings filed
If my family hasn't gotten my things then I don't care. I'm dead. The government is just going to take it.
What if the itf was named to a beneficiary that is a domestic partner ? Is that legal?
This is such a great topic and you did not explain so many things properly. You are all over the place with your explaining. It’s not detailed enough. I am more confused than when I started. Too many stories. A white board would be helpful. I don’t doubt you know what you’re talking about you seem knowledgeable but you explained this poorly. Please redo or update
Sure. What particular questions would you like more details?
Thank God my parents gave me full power of attorney. They knew how much I hate dealing with idiot bureaucrats.
Probate.. how to tax whatever is left. Of confiscate it completely.
I’m dead
I don't have shit. IDC.
It's already assessed and wanted. So, while the talk goes, that should get really fixed. No explanation now, but the law is how it got started. No mistake, court has no real say until the alleged lawyers took over. They are dishonest mostly.
It goes in the trash
monkeynumber nine , super gets them or first person in the house
Anyone do any research on what this guy is taking about!?!?!? And who believes him without??
I thought prince didn't have a will...news reports stated no will..and a 350 million dollar estate
Who cares
... ... ...Anthony, "ANYBODY", my best Friend Died, made me the "Primary", too "The Will", the "oversee'ers" have left me COLD for over Six Years , not even a post card, My Friend Had Millions in Chineese Imperial Porcelain, the "oversee'ers", have COMMITED GREAT FRAUD and DECEPTION ; i am in Atlanta, Georgia CAN ANYBODY HELP ME!!!
i am on the streets, i work very hard ; have a lawyer, but he has done little, because i do not have the FUNDS too "Retain Him", HELP
sincerely Brother brent! 💘
I think I will use google, your making this very confusing
What happens if there is no will and the only item of value is real property and no right to transfer was sign or file and there it's a big family let's say over 8 siblings what happens then or what can be done
You probably have to open an administration estate (the process when there’s no will) in probate court.
Dude, speed it up and get to the points
Who the hell cares your dead nothing you can do unless god lets you return as superman.
I will be dead and gone it does not matter what happens too much stuff Jesus is going to come back set up his kingdom for a thousand years on Earth everything else worldly possessions does not matter what does matter is accepted Jesus Christ as your personal savior being washed in the blood Jesus Christ and having your name written in the Lamb's Book of Life when it is all said and done that is all that matters and what you have done for the kingdom of God
Oh stop! Not talking religious here on this topic....get with the program! None of that matters while there is still life on Earth! When someone passes and has assets they should go to WHO that person wants! Nothing wrong with gifting someone with an inheritance!
@@Melinda8162 yeah
Only serial killers want to be washed in the blood of jesus christ
Who cares!
I had an uncle who had trouble with his probate. He had to take these really big pills and drink lots of water... 😜
LovelyObscurities -Enlarged Probate. I’ve heard of it!
Enlarged prostate!
Don't give a shit...I'll be dead.
Who Cares
Who cares ??;
If you are a dead stif ;
There’s nothing you can do about it;
You should have taken the appropriate steps when you were alive and breathing;
Again if you were just too lazy to make up a will then who’s fault is it??;
Tough toenails
Are you sick in your mind?
Give it to the womens center
Who cares