Thomas Devlin Begley III’s Answers

Thomas Devlin Begley III

Mount Laurel Estate Planning Attorney.

Contributor Level 13
  1. Does having a legal guardian mean that a previously assigned POA is no longer valid?

    Answered over 1 year ago.

    1. Thomas Devlin Begley III
    2. Steven M Zelinger
    3. Lawrence A Friedman
    3 lawyer answers

    Technically, the answer is no. The establishment of a guardianship does not void a power of attorney. The guardian has a right to void a power of attorney. On a practical level, certain courts will require that it be made void. However, absent language voiding a power of attorney in a guardianship judgment, a power of attorney remains alive and well.

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  2. No will.Both parents deceased. One child willing to be administrator. Other won't sign renunciation + can't post bond. What now?

    Answered about 2 years ago.

    1. Thomas Devlin Begley III
    2. Peter Browne Garvey
    3. Lawrence A Friedman
    3 lawyer answers

    When parents die without either having executed a Will, the law of intestate succession hold that the estate will pass to their children equally. In the event one child has predeceased the parents, his or her share will pass to his or her children if there are any. In order to administer the estate, any potential heir may apply to be administrator. He or she will have to post a surety bond in order to do so. To be appointed, all other heirs must sign a renunciation. If they do not, the...

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  3. I am listed as POD on my father's savings acct. His will divides estate equally to 3 children. Is that money exempt from estate?

    Answered almost 3 years ago.

    1. Thomas Devlin Begley III
    2. Edward Joseph Smeltzer II
    3. Joseph L Youngblood Jr
    3 lawyer answers

    No. A will only governs assets which are in the decedent's individual name. There are number of assets which pass outside of the will including, but not limited to contract assets (i.e. IRAs, retirement plans, annuities and life insurance), jointly held assets with a right of survivorship, and POD/TOD accounts. The legal presumption is that you are the sole owner of that POD account now. The only way in which this asset could be considered part of the estate is if a contesting party could...

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  4. How much can 2 administrators charge, and also the attorney for handling an estate? Are we getting screwed

    Answered 12 months ago.

    1. Thomas Devlin Begley III
    2. Steven M Zelinger
    3. Lawrence A Friedman
    3 lawyer answers

    Using your words, it appears you are "getting screwed". The commission of executors is fixed by statute. It is 5% of the first $200,000, 3 1/2% of the next $800,000 and 2% of the balance although an additional 1% can be added in for the additional executor. Obviously, this creates an over charge in excess of $30,000. Although there is a 6% commission on income, it is safe to assume that the estate did not generate $500,000 in income. Based on the size of the estate, the counsel fee appears...

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  5. Can a person be evicted if they were awarded a house as a living estate?

    Answered over 2 years ago.

    1. Thomas Devlin Begley III
    2. Michael Kuldiner
    3. James P. Frederick
    3 lawyer answers

    You can have the life estate terminated. Although it has the same effect, you are evicting him as eviction is a remedy which is brought in a landlord-tenant court. By filing an action in the local probate or chancery court, you can seek to have the "living estate" or life tenancy terminated on the grounds that he has violated the conditions of your father's estate. In doing this, you will pursue what is known as ejectment which is the means to have him removed from the house. Certainly, it...

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  6. Do I need to establish a Special Needs Trust for funds raised for a surgery that my disabled adult daughter needs?

    Answered almost 2 years ago.

    1. Lawrence A Friedman
    2. Thomas Devlin Begley III
    3. Eric Jerome Gold
    3 lawyer answers

    The safest thing to do is to establish a special needs trust. In that event, it is sure that her needs based benefits will not be disturbed.

    6 lawyers agreed with this answer

  7. Can a U.S. citizen utilize his "federal tax exemption-5 million)" towards his non-resident alien spouse 2 avoid estate tax

    Answered over 2 years ago.

    1. Thomas Devlin Begley III
    2. L Christopher Arvin
    2 lawyer answers

    Yes. The applicable exemption of $5,000,000 does not distinguish the residency or citizenship status of the heirs. In order to undertake more prudent planning, you may wish to consider a QDOT. This trust allows assets to be held on behalf of the surviving spouse but to pass to other family members when he or she passes.

    6 lawyers agreed with this answer

  8. Can I transfer POD bank accounts into my father's estate so they can be distributed equally to my brothers & I?

    Answered almost 3 years ago.

    1. Steven J. Fromm
    2. Thomas Devlin Begley III
    3. David L. Carrier
    4. Cori L Socher
    5. Abel Lopez
    5 lawyer answers

    Steven Fromm provides an excellent answer. I would take the additional step, however, of having your brothers sign release forms prior to receiving the gift from you. I know of at least one occasion where one brother gave funds in a similar situation to another and was thanked by a lawsuit saying he should have been entitled to more.

    6 lawyers agreed with this answer

  9. I was appointed as an executor. Fee is based as % of the "value of the estate". What does that consist of?

    Answered about 2 years ago.

    1. Thomas Devlin Begley III
    2. John George Ducey
    3. Robert A. Stumpf
    3 lawyer answers

    An executor is entitled to a corpus commission of 5% of the first $200,000, 3 1/2% of the next $800,000 and 2% of the balance. However, the commission can only be claimed as to assets under the control of the executor. Excluded are assets which pass to a designated beneficiary such as life insurance, annuities and IRAs as well as TOD/POD accounts and accounts which pass by right of survivorship. In addition, there is case law in New Jersey which states that this commission may be modified...

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  10. Can I deposit money from a CD that my father had as POD to me to the ESTATE account held by me & two brothers to share it?

    Answered over 2 years ago.

    1. Thomas Devlin Begley III
    2. Peter Browne Garvey
    2 lawyer answers

    You can actually distribute it all. In addition to the $13,000/year, $5,000,000 can be given away during lifetime. Frankly, though, if you want to treat it as an estate asset, create an estate account and roll it into it. You will take the position that you were holding the moneys for administrative convenience. Make sure your brothers sign refunding bonds and releases though. Good luck.

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