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My parents are 88yrs (dad) and 78yrs(mom). They live full time in Alabama and own homes that are paid for in Alabama and Florida. Everything they own is joint with right of survivorship. Neither have a will, what will happen to their property when the the last one dies. They have three children living. I am the oldest, married and living in Florida. My two sisters are divorced and living in Alabama. Thanks so much.]
If the survivor dies without a will, will the property and assets be subject to probate and taxes? Where could I look up the law in Alabama. Would the Florida property fall under Florida law? Do I need a lawyer in Alabama to help with this, either before they die(so I can be prepared ) or after they die to assist in the process? Can I estimate taxes due before they die?
Are there any inheiritance taxes on property in Al and FL and at what rate?
Do the three children get to decide who gets which property or all three of us on the title?
How long does probate take? Do we need to be present for this? What about bank accts, etc? Will state issue what is needed to close accts?
Who appoints the executer?
Thank you so much, this has been very helpful.
Can we sell any property before probate is complete? Last question :)
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