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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 38237
Experience:  17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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I have a lien put on someone's property paying my

Customer Question

I have a lien put on someone's property for not paying my debt. if this person pass away and he didn't set up his living trust, will the government take portion of his property first and then we collect. Or we have higher priority to collect since we are
secured debt holder?
Submitted: 2 years ago.
Category: Legal
Expert:  Barrister replied 2 years ago.
Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.
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Can you tell me what state this is in?
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Can you tell me what debt the government has against the person?
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Is it for something like income taxes?
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Or Medicaid reimbursement?
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thanks
Barrister
Customer: replied 2 years ago.
CA
if any one doesn't have living trust set up, I heard the government will take about 20-30% of the asset as some kind of tax or... and also hold the asset for a few years and then release.
Expert:  Barrister replied 2 years ago.
Ok, that isn't correct. If someone passes without a will, then state intestacy law controls who inherits instead of the person's will.
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Putting assets in a trust just avoids the cost of probate. So there isn't any govt tax on the estate unless it is over $5.34 million.
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With that said, your lien would have a higher priority than anything after it other than income taxes or delinquent child support (if either of these applied)
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So you would file a creditor claim against the estate for the debt and the executor of the estate would have to pay you.
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thanks
Barrister
Customer: replied 2 years ago.
I guess it's not a tax but I heard if you don't set up the will, some portions of the asset will be given to the government and that's why you pay to set up the will to avoid that no? if you don't set up the will, about how much will be given to the government? or what's the cost of probate?
Expert:  Barrister replied 2 years ago.
No, that is not correct. The govt doesn't come in and take your property if you don't have a will or trust.
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Probate typically costs some percentage of the value of the estate...normally 2 to 5% depending on the size.
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thanks
Barrister