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RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 36962
Experience:  Texas lawyer for 30 years in Estate law
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Dad passes away and left money and land to me and my sister

Customer Question

Dad passes away and left money and land to me and my sister , my sister are on his accounts at bank as excecetors, we both are equally on accounts, probate has started on everything , are me and sister allowed to divide some of money in account, my dad had noone he owed , he was set for life. Also every spring someone leased his land, the guy leasing land is supposed to pay shortly does he make checks forland to me and my sister or does he have to wait for estate to go thru probate
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.
Hi and welcome to JA. I am Ray and will be the expert helping you today.
Expert:  RayAnswers replied 1 year ago.
Here you need to probate the will.You would need to be appointed as co executors by the probate court and issued letters testamentary.The accounts here should be converted tot he estate name and an EIN number for the estate obtained from IRS.You need to file an Inventory of assets, pay taxes, and claims, and then distribute money here.There is an order for all of this her in NM.
Expert:  RayAnswers replied 1 year ago.
The executors here you and sister once appointed and with letters testamentary can lease the land for the estate.Again the lease money goes into the estate accounts.It is not clear to me that any of this has been done.You need to start with a local probate lawyer and make application to probate the will as a first step.
Expert:  RayAnswers replied 1 year ago.
Lawyer referral.. http://www.lawyers.com/wills-and-probate/new-mexico/find-law-firms-by-city/ I appreciate the chance to help you tonight.Please let me know if you have more follow up.
Expert:  RayAnswers replied 1 year ago.
Good reference.http://www.fitzgibbonlaw.com/faqs-on-probate
Expert:  RayAnswers replied 1 year ago.
Also once you have letters testamenatary you have authority to sell thr land or deed it to the heirs.
Expert:  RayAnswers replied 1 year ago.
Thanks.
Expert:  RayAnswers replied 1 year ago.
If you can leave a positive rating it is always much appreciated.

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