Marcos P Martinez’s Answers

Marcos P Martinez

Arlington Estate Planning Attorney.

Contributor Level 13
  1. Removing Dad's Name from Home Ownership

    Answered over 1 year ago.

    1. Marcos P Martinez
    2. Brent Allan Rose
    3. Astrid de Parry
    4. Gregory Herman-Giddens
    5. Carol Anne Johnson
    6. ···
    6 lawyer answers

    If your father is listed as an owner, then you would need his consent to remove his ownership rights. You cannot simply remove him from the Deed without his consent. Assuming that he consents to the transfer, then he simply needs to record a deed transferring his ownership in the property to you and your brother. I would, however, advise that you retain an attorney to at least review your current situation and any relevant documents to ensure that there are no complications that arise,...

    13 lawyers agreed with this answer

  2. Can I give my adult child $10,000 of her inheritance annually while I am still alive?

    Answered over 1 year ago.

    1. Marcos P Martinez
    2. David Phillip Folkenflik
    3. Brantley Daw Oakey
    4. Andrew Thomas White
    5. Martha J. Sullivan
    6. ···
    7 lawyer answers

    Yes. In fact it is a good idea in most estate planning situations, provided that you are sufficiently financially secure. Any amount under the exemption amount (currently $13,000, per year, per person) will pass without tax. If your wife agrees to gift-splitting then you can actually give twice this amount. Ultimately, when you pass, any amount gifted away in such a manner will be exempt from the Estate Tax. The numbers for the above are all in flux and it would be wise to consult with...

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    1 person marked this answer as helpful

  3. How do I discontinue our relationship with an estate lawyer?

    Answered over 1 year ago.

    1. Galen J Criscione
    2. Adam Troy Rauman
    3. Marcos P Martinez
    4. James P. Frederick
    5. Joseph Franklin Pippen Jr.
    5 lawyer answers

    I agree with Mr. Criscione. You can "fire" an attorney at any time. However, this may not free you from liability for any fees/expenses that have already been incurred by your former attorney. You should definitely contact him immediately to inform him of your decision. I would recommend that you make a phone call then follow that up with an email or letter.

    11 lawyers agreed with this answer

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  4. Should I employ a lawyer to handle my recently deceased fathers estate? Florida residents.

    Answered almost 2 years ago.

    1. Marcos P Martinez
    2. Heather Morcroft
    3. Joseph Franklin Pippen Jr.
    3 lawyer answers

    Your father died "intestate", the legal term for when a person dies without a Will. As such, his property will pass according to Florida's Intestate Succession rules (See Chapter 732 of the Florida Statutes). Based only on the light information you presented, you and your step-mother are each going to be entitled to half of the probate estate. The manner and form of this division can be complicated without a attorney to assist you. There are many factors that will need to be considered,...

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  5. What rights do I have as the Administrator of my childrens' father's estate/ He did not have a will and my children are minors.

    Answered over 1 year ago.

    1. Marcos P Martinez
    2. Gregory Herman-Giddens
    3. Israel Sands
    4. Linda Carol Singer
    4 lawyer answers

    I agree with Attorney Herman-Giddons. Where minors are beneficiaries, the court will determine who is to be Custodian for the property. The money does not have to stay in the bank "untouched" necessarily. The custodian will be able to determine the best use or non-use of the funds in the best interests of the children. This could be a medical/educational need, etc. If the money is substantial, then the guardian may be in charge of investments of the money until such time as the children...

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  6. I have inherited 200K USD post probate tax from my late brother's estate in Ireland.

    Answered almost 2 years ago.

    1. Marcos P Martinez
    2. Eric Jerome Gold
    3. Evan A Nielsen
    3 lawyer answers

    You will not be taxed on foreign inheritance, but you will likely need to report this on IRS Form 3520. Form 3520 is for the reporting of "Certain Foreign Gifts", which happen to include foreign bequests greater than $100,000.

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  7. If you are mentioned in someone's Last Will & Testament, is it not the law that they must leave you a dollar?

    Answered almost 2 years ago.

    1. David Chastain Agee
    2. Marcos P Martinez
    3. Jeffrey B. Lampert
    4. Joseph Franklin Pippen Jr.
    4 lawyer answers

    Short answer is no. Long answer is that you can try to challenge it if you want, but the odds will be against you. .

    10 lawyers agreed with this answer

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  8. I want to revise my will.

    Answered over 1 year ago.

    1. Marcos P Martinez
    2. Carol Anne Johnson
    3. Barry Evan Haimo
    4. Helen M Smith
    5. Giovanna A Abreu
    5 lawyer answers

    A revision to a Will would be called a codicil. Be very careful when making any such changes because often one clause of a Will has an effect on other portions. I would recommend that you visit the attorney that drafted your first Will to be sure that all changes have legal effect. Moreover, the codicil would need to be executed (signed) with the exact formalities as a full Will, meaning that you will need two witnesses and a notary (generally). The last thing you want is for your wishes to...

    10 lawyers agreed with this answer

  9. Estate, inheritor refuses car that has a bank loan. Are they still responsible for any money due after car is sold.

    Answered almost 2 years ago.

    1. Marcos P Martinez
    2. Matthew Howard Hinson
    3. Joseph Franklin Pippen Jr.
    4. James P. Frederick
    4 lawyer answers

    I agree with Attorney Frederick in that more information is needed. If the money is the only money available to pay for creditors and/or administrative expenses (which include the reasonable handing of assets like the vehicle), then the interest in the property would have been used to satisfy that debt eventually. Otherwise, it would depend on whether the beneficiary actually relinquished his or her interest in the vehicle. A written disclaimer would extinguish all of her rights, but that is...

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  10. If property is put in probate can a person live there?

    Answered over 1 year ago.

    1. Marcos P Martinez
    2. Jeramie J. Fortenberry
    3. Richard Kenneth Britton
    4. Astrid de Parry
    5. James P. Frederick
    5 lawyer answers

    There are far too many variables that would need to be considered before this question could be answered. If you do not have a lease, ownership, or other legal right to live in the property, then you are not entitled to live there simply because there is an ongoing dispute. However, as a practical matter, it will be complicated to force you out of the property if there is a genuine dispute as to ownership (assuming you are one of the parties claiming ownership). But again, you do not have a "...

    9 lawyers agreed with this answer