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Recent estate law questions
My father died recently. I am the sole trustee, the sole
My father died recently. I am the sole trustee, the sole Executor and we have a trust which is not clear about the bank account I have with my dad who is now dead. Is the money left in the bank account apart of the trust now or is it mine because I saved it and use it to pay off his debts and want to know if what is left in the account is mine or does it become part of the Trust???
I have an IRA and an Annuity with beneficiaries. These are
I have an IRA and an Annuity with beneficiaries. These are NOT probate assets, and assuch, do not come under the control of the executor of the estate. The IRA custodian U.S. brokerage has informed me as follows: If title to your account does not pass automatically, an estate proceeding will be required before we can distribute the assets in your account.Upon the death of the beneficial owner, the U.S. brokerage firm is forbidden under U.S. tax law from transferring the assets from the decedent's account until the IRS has concluded its estate tax audit.Is this correct regarding IRA and Annuity beneficiaries?
My name is***** have been married to my husband years, I had
Hello my name is***** have been married to my husband for 15 years, I had a home and a business which I sold for my husband and I to live on. We also sold my home and used that money to buy one together we lost it in 2007 to foreclosure. My husband has a very wealthy father who passed away 3 years ago his mother had a daughter when she married his father which the father adopted. My husband has taken care of his mother and father daily since the day I met him. The family trust was set up for the 3 siblings to split 3 ways. My mother in law convinced my husband to sign her as conservator of his trust. My husband was drinking at the time and has became sober of two years. She has now put His 1/2 sister as his trusty and will not allow him to have any money other then a monthly stiffen. my husband is 55 years old. I have 2 children from another and he has one. The mother and sister want to make sure I get nothing or my boys. My husband went to the attorney early on and had him put me as the beneficiary. I think my mother in law changed that he swears he never did. Can she change what he did or would he have to change the beneficiary himself. I have 100% of my money into this marriage and I don't want to surprised if something were to happen to my husband, his mother is very selfish and controlling. Thank you Toni
If the probate assets add to less than $150,000 (California
If the probate assets add to less than $150,000 (California Probate Code section 13100) a pour over will does not have to go through probate, therefore, my question is, if I want to keep a bank account jointly with an unrelated person, if I died, would half of the balance of that account would be considered part of my pour over will and go to my trust without probate? (lets say that half of balance would be less than $150K)
I have a notarized IOU from a friend for $4,000. I loaned himView more estate law questions
I have a notarized IOU from a friend for $4,000. I loaned him the money over a year ago. He has now passed away before he could pay it back. In the IOU he wrote a statement that if he should pass away before he pays the money back, he wants his adult son and daughter to be sure I get paid back from any insurance, 401K or pension he had.I am not sure if my friend's son or daughter will honor the IOU. Also, I have not seen the will, so I don't know who the attorney or executor is who is handling the probate of the estate. any advice on my next steps?