Randy Marvin Spiro’s Answers

Randy Marvin Spiro

Beverly Hills Estate Planning Attorney.

Contributor Level 9
  1. He has a will,my dad is very ill (Hospice Care).After his death what do we do next with his wishes? (distributing his estate)

    Answered over 5 years ago.

    1. Dennis Michael Phillips
    2. Douglas Ron Coenson
    3. Randy Marvin Spiro
    3 lawyer answers

    Probate is a court procedure to authenticate a Will , to make sure that debts and taxes are paid and to supervise distribution of assets to the right persons. Each state has its own laws governing probate. Your dad's Will probably designates an Executor to handle the probate and it is the Executor who can hire an attorney to help the Executor in filing papers with the state court to have the Executor appointed. There will be a hearing, notice to heirs and beneficiaries, in some cases...

  2. I am an heir to my fathers estate and would like to know my legal rights to obtaining all of his financial records/invalid will

    Answered over 5 years ago.

    1. Randy Marvin Spiro
    1 lawyer answer

    If there is an account in your father's name that is pod to your niece, your niece should obtain a certified copy of your father's death certificate and take it to the bank as soon as possible. Even if she cannot quickly obtain a certified copy of your father's death certificate, your niece should inform the bank immediately that your father has died and that she is claiming the account as beneficiary. She should ask the bank whether all the funds that were in the account at your father's death...

  3. What happens if an estate was never put in probat? And the morgage holder forecloses on the house

    Answered over 5 years ago.

    1. Randy Marvin Spiro
    1 lawyer answer

    The children should consult an appraiser as to whether there is any equity in the property and if there is, they shouyld consult an attorney to try to help them save the property from foreclosure. They may need to start a probate quickly so that an executor can borrow money on the property to bring it current, assuming there is a lender that would make the required loan in this situation. The mortgage holder can foreclose whether or not the property is in probate.

  4. What is Probate on an estate

    Answered over 5 years ago.

    1. Douglas L. Kaune
    2. Christian Glen Sullivan
    3. James Leslie Walker IV
    4. Randy Marvin Spiro
    4 lawyer answers

    Each state has its own laws on Wills and Probate. Assets that are in the name of a person who has died and which are not in joint tenancy, which do not have a beneficiary and which are not held in a trust go through probate at the owner's death. Probate is a state court procedure to clear title to an asset and to authenticate a deceased person's Will. The person designated to manage the estate in the Will is called the Executor, and he petition's the court for admission of the Will to probate...

  5. Is it OK to use a POA to write a check for an incapacitated executrix on an estate account?

    Answered over 5 years ago.

    1. James P. Frederick
    2. Randy Marvin Spiro
    2 lawyer answers

    If state law says that a power of attorney can only be executed by a natural person, then that state's law may not allow an executor to delegate his or her powers in that manner. Also state law may say there is a specific procedure where the executor has become incapacitated, for example a petition may be required to be filed with the court to remove the incapacitated executor and to replace him or her with a different executor.

  6. Can I give my son and his wife each 13,000.00 as a gift without any of us paying a tax?

    Answered over 5 years ago.

    1. Thuong-Tri Nguyen
    2. Randy Marvin Spiro
    2 lawyer answers

    You can give each of them $13,000 in one calendar year without it being charged against your $1,000,000 free lifetime giving amount and without it being charged against your at death free giving amount ($3,500,000 in 2009). But if your son and his wife divorce, she will have a good argument that she should be awarded the $13,000 that you gave her.

  7. Estate Planning

    Answered over 5 years ago.

    1. Charles Kennedy
    2. James P. Frederick
    3. Thomas Glenn Martin
    4. Randy Marvin Spiro
    4 lawyer answers

    Each legal entity is formed under the laws of a particular state. It is advisable that it be formed by an attorney. The goal is to have assets which are owned outside of the entity to be exempt from liabilities generated inside the entity. It is important to follow all formalities and to adequately capitalize the entity. The entity should also have adequate insurance for all relevant risks. One estate planning strategy involves transferring a business or real estate to a family limited...