My sons are inheriting assets from grandparents. Their father is deceased-left no known assets and grandparents bank/IRA is asking for a Letter of Testamentary. What do we need to do to obtain this?
Family Law Attorney
If there was no will, you will not be able to obtain Letters Testamentary. You can get Letters of Administration, which are the equivalent when there is no will.
You, or another appropriate person, would need to file a Petition for Letters of Administration in the county where the person died. This is essentially how you begin to probate the estate of someone who's died without a will.
If you can't afford an attorney, a great self-help resource is www.gaprobate.org. That site can answer a lot of questions and even provides some of the basic forms to get the process going.
If you have further questions, call me at 770-904-5115. The information and opinion rendered herein is done as a courtesy and is for general informational purposes. Nothing herein may be construed by any party as to give rise to an attorney-client relationship.
6 lawyers agree
What was the order of death. If the grandparents died first and the son was the beneficiary of their assets then those assets are the son's and probate my be necessary. Letters are issued by a probate court to the personal representative. You need to consult a local attorney and present all the facts.
The general advice above does not constitute an attorney-client relationship: you haven't hired me or my firm or given me confidential information by posting on this public forum, and my answer on this public forum does not constitute attorney-client advice. IRS Circular 230 Disclosure: In order to comply with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
2 lawyers agree
I agree with my colleagues, but I would point out that you appear to have an unusual situation. IRAs are contracts that work on beneficiary designations. If there were beneficiaries designated, then the IRA would pass outside of probate and no letters would be required from the court. So you need to review this with the bank to determine if there were beneficiaries or not. If there was no beneficiary named on the IRA, or if the beneficiary was deceased, then there could have been contingent (or secondary) beneficiaries. If the beneficiary was deceased and there were no contingent beneficiaries, then it appears the bank is taking the position that the IRA passed through the father's estate and not the grandparents. This is not a simple situation, however, and it may require review by a probate attorney. You will certainly need an attorney to assist you with probating the father's estate. There could be other intervening interests that would interfere with your sons' inheritances, depending on what took place.
***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!
4 lawyers agree