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Recent POD questions

If there is no estate property, meaning there is no probate

if there is no estate property, meaning there is no probate property, does an inheritance return still has to be filed?JA: Okay, I'll connect you to the Estate Lawyer to discuss this further with you. Before I do, is there anything else you want the lawyer to know?Customer: the property is not probate because it was given to someone in an irrevocable trust; the decedent only had joint bank accounts where there are 2 people on the account were both can deposit funds, withdraw funds, etc.

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RayAnswers

Lawyer

Doctoral Degree

37,794 satisfied customers
I will have heirs in the USA and in Italy. Can I use

I will have heirs in the USA and in Italy. Can I use Distributions on Death for those in the U.S. and a will for those in Italy, or do d.o.d. presume their is no will?JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: Texas, HoustonJA: Has anything been filed or reported?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: I have no real property and no children. Heirs are all nieces and nephews

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

110,922 satisfied customers
This question is for an estate lawyer. My father wants to

This question is for an estate lawyer.My father wants to leave everything to me, and nothing to my brother. He wants to know what is the easiest way to do it avoiding any probate?We live in Florida and he has his condo which is worth about 300k. He has about $100k in the bank, and also has about $400k invested in gold.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

49,142 satisfied customers
Barrister: Evil sister case here. Well, I am awaiting my

Hi Barrister: Evil sister case here. Well, I am awaiting my kids' statement from October on their last transfer of distribution to their accounts just to make sure it was sent before I sent evil sister the beneficiary form I have done. I have finished it for all 4 kids and to seal it better will have them notarize it. I have also written a letter for each of them to sign to attach to the form stating to her that she is obstructing the trust etc, by not providing them a bene form as requested for their vested accounts and that they can't be divested and that the triggering event which was death to dissolve the trust has occurred. The letter also states that legal counsel was sought in this matter and that siblings/beneficiaries will sue her personally should any one beneficiary pass away before age 30 to avoid her giving their share to anyone not specified. I will be having the kids notarize it soon and mail it. As for a will for them, (the bene trumps the will), I am still working on that, but she does not need to know that. I need answers from all kids on certain matters before putting each together and that is taking time, but in the meantime I am at least securing their inheritance with the bene form intent that she has denied and other accounts they have I am making sure they are doing POD on them (another child has a few dollars from a settlement) and an older independent child has a career etc and I have advised him the importance of making sure his retirement and life policies have bene forms etc and he owns no real estate yet. Which brings me to my question really after you can of course let me know if I am on track with the above.So, for myself, I have this question. My spouse and I have a trust. I have funded the trust with some accounts, and real estate. Life policies and retirement accts have beneficiary forms done from which I understand avoids probate, and for other accounts such as banks accts and investment funds. My question is this: Since I can assign bene forms for these accounts to avoid probate, does it still cause a problem if I am saying I do not want a beneficiary to receive monies until they are 30 unless for certain reasons? What I am saying is: If I put in my trust that they are not to receive their monies or at least a large percentage until age 30, will these POD beneficiary forms ignore that and just send my kids the money from a certain account because I filled out the POD and the executor has no say? I have found that many of these brokerage account firms make it easy to do POD etc instead of putting the account in the trust name which believe it or not, they put you through a lot more paperwork than you could believe. I currently have one firm where the account has it in the Trust name, and am doing another, but some are POD/TOD. I do know that avoid probate, just wondering if they get the money right away despite what I write in the trust. Wouldn't the executor be contacting these firms and saying how it goes (to transfer money to the estate in the beneficiaries names to be held?) I hope so. If not, I will I guess figure it out or not worry about it knowing that all real estate and some monies are in trust name, and maybe they will get some up front and not the rest for a while. (I plan on living long LOL). So please let me know how I am doing with evil sister and my question for my self. Thanks

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

49,142 satisfied customers
I'm at a state of not knowing the best thing to do. My

I'm at a state of not knowing the best thing to do. My father past away May 2016 and he had a living will of which my brother was the dnr executor. He put my father's car in his name when I was at the hospital with dying dad now he wants to sell the car to me for a price. I use the car for my job and he doesn't even use it.The car is here were Dad and I lived. (I have the original title )Dad always let me use his car especially since he was 100 years old and still driving in a state of thinking he could and should. I'm not selfish but I don't know if it is in my best interest to pay him a price with my share of Dad's POD accounts.What if the price turns out to be to high for my share of Dad's POD accounts?

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LegalGems

Juris Doctorate

15,042 satisfied customers
New Mexico - also a bank law question. My older brother died

New Mexico - also a bank law question. My older brother died last month. The only money he had - $4,500 - was in a credit union. The executor found out a long ex girlfriend was named as payable on death beneficiary.If she is willing, can she sign off on it, and how would such a statment have to read to be legal and binding?

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Ely

Counselor at Law

Juris Doctor

66,216 satisfied customers
I would like this question to go to Loren- I spoke with you

I would like this question to go to Loren-I spoke with you yesterday. I have just been advised that I am the only beneficiary on my mom's Fidelity acct, so I have been told the money is only mine (my other two sister's names were not put on as beneficiaries), but in order to release the money, I will need to mail them a copy of her death certificate, I believe a copy of the surrogate letter and will need to mail them a completed NJ tax waiver form L8. They said, they will initially release 1/2 of the funds to me and then once and then it may take a few weeks to release the remaining 1/2. My question is being all her liquid assets are now mine, her house is the only thing that is part of the estate, which would easily keep the estate under $675,000. Will I incur any tax penalties when that money is released to me? Second, once the house is sold and the monies from the house are put into her estate acct, will I need to purchase checks for that estate checking account in order to pay those that are named in her will? Fidelity did inform me that I can change it, so the monies would go into the estate acct, but that would involve a more complicated process and I think from a tax standpoint, we would be better off just having her house as being part of probate. Any suggestions would be greatly appreciated. Thank you.

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Loren

Juris Doctor

38,966 satisfied customers
I recently went to a bank to rename 2 small certificates of

I recently went to a bank to rename 2 small certificates of deposit that were owned by my mother with POD to my grandmother. My grandmother died before my mother, and I am my mother's only child. I presented both death certificates and the estate document naming me as my mother's only heir. At the time this was established, the house was the only thing named in the estate. There was a will, but I could only find an unsigned copy. I just recently wrapped my head around getting other accounts consolidated and all other accounts were either left to me or my sons. The bank says I have to amend the estate document to include financial accounts. The lawyer who previously handled the estate wants a $500 retainer to start and says it should take no more than 10 hours. The CD's only total about $2600.00, so this sounds like I will get nothing. The estate is in MS. Is this something I can do on my own, or do I need legal counsel?

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Irwin Law

Juris Doctor JD

9,166 satisfied customers
My father passed away June 5,2016. I am the pod on his

My father passed away June 5,2016. I am the pod on his accounts. His credit union has put a hold on his accounts (they actually moved money from his checking to savings AND cashed out his cd to the savings), all without notifying me. I'm his sole heir and this financial institution had with held all the funds from me because his mortgage is also through the same bank. His mortgage is current , but the banks says as long as he owes a mortgage they will hold his funds. I might add they pay the mortgage each month from the money they put into savings. I'm the payable upon death , but this has not held true . I'm baffled as to how they cashed out his cd .

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Maverick

Doctoral Degree

7,082 satisfied customers
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