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Wayne B. Ball
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Wayne Ball’s Answers

5 total

  • I am the beneficiary on my brothers checking and savings accounts he passed do I have to go through probate before I can receive

    the money out of the bank. His children want me to give them the money now but I am left as 100% beneficiary and his children are in a wrongful death lawsuit for their father, so who has claim to the little checking and savings money

    Wayne’s Answer

    If your name is on the account either as a joint owner or as a Pay On Death, the bank will most likely pay the money to you upon satisfying them of the death of your brother. However, the circumstances of how the account was placed in your name needs to be investigated before concluding that you have the absolute right to retain the funds. If you were placed on the account simply as a convenience for your brother to pay bills and not intended as a gift then your brother's children may have the right to contest your retention of the funds. However it would likely require a lawsuit to establish that right unless you agree to give them some or all of the funds. If the children are pursuing a wrongful death claim they have legal representation and it would benefit you to obtain the same.

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  • Selling of heir property

    I recently found out that my siblings and I have inherited interest in the remainig 40 acres (wooded), located in Arkansas. The first 40 acres was sold many years ago without our knowledge or consent. The children of the person who sold the prop...

    Wayne’s Answer

    It may be too late to enforce any remedy regarding the sale of the first 40 acres. However, you should act quickly to protect your rights in the remaining 40 acres, and while investigating an attorney may discover a remedy for the first 40. Obtain copies of documents as soon as possible and consult with an attorney who can assist you in obtaining any that you may not have as well as investigating title to the property.

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  • Re: Living Wills and who keeps them in their possession.

    I plan to fill out a Living Will. Does my Primary Doctor keep the original? OR does anyone who you designate in the Will "to do the necessary" keep it?

    Wayne’s Answer

    • Selected as best answer

    I agree that you should certainly give a copy to your doctors as well as providing a copy to your spouse, significant other, or any person that you would designate to make life and death decisions on your behalf. There are also registries that will take a copy of the document and send you a card to carry in your wallet with your drivers license and identification alerting first responders how to obtain a copy online or by telephone and fax. One registry is Docubanks. You can find them online or an attorney may be able to assist you.

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  • I was named executor & trust beneficiary in my late fathers will but my stepmother wants me to sign over his annuity to her?

    I and my brother was named executor & trust beneficiaries in my late fathers will, his bank accounts and investments were joint names with my stepmother so that automatically becomes hers, but she also wants me to sign over his annuity to her? a...

    Wayne’s Answer

    • Selected as best answer

    You definitely need the services of an attorney who can advise you of your rights, help you obtain information and documents so that you can make an informed decision and who can be your mouth piece. You have the right to see copies of documents and figures and would have no obligation to transfer the annuity. You should act promptly to protect your rights.

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  • Myself & my brothers are executors to my late fathers will, there is no money in the estate to pay for lawyers fees etc?

    my late father passed away a few months ago leaving a life interest trust, myself and 2 brothers are executors & trustee's of the estate. however, there is no actual money in the estate as his bank accounts and investments were in joint names with...

    Wayne’s Answer

    If I understand your question, the property is owned in a trust, with the surviving wife entitled to a life estate with the remainder passing to you and your brother. The life tenant has obligations to pay certain expenses relating to the property and cannot commit what is called "waste" or damaging the value of the remainder interest. It may be possible to commute the interests in the property so that the value of the life interest and the value of the remainder interest is established and then have the property sold and distributed according to the values. This would provide a source to pay attorney fees and expenses.

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