My mom died a week ago she was entitle money from settlements, how do i obtain info on collecting her money?

Asked over 1 year ago - Bowie, MD

My mother was entittle money from her settlements,investment, the 2 younger kids grandmother died and father who was in the army. my mom was entitle to get a settlement, her lawyer past away a month ago and she did a week ago. how to i get the money entitle to me and my sisters and brothers

Attorney answers (4)

  1. Thomas C Valkenet

    Pro

    Contributor Level 17

    7

    Lawyers agree

    Answered . The out-of-state lawyers have shared good general advice-- you need to sit with a lawyer and sort through all the facts. The moment Mom died, her propert became part of her Maryland "estate." Whether you or anyone else inherits money through the estate will be determined by her Will, or by the laws about how stuff passes when there is no Will (it is called "intestacy"). And whether bank accounts, insurance and other pots of money flow into the estate, or whether they get paid outside the estate, is determined by going to the bank and reading the documents. Now, to get all this done, the estate needs a "Personal Representative." That only happens when someone in the family files a petition with the Orphan's Court in the County where Mom died (and we are assuming she passed in Maryland, for the moment), and the court issues "Letters of Administration." A lawyer can help you set up this entire process, and advise on each step. And the lawyer's fee is established by statute, based on the value of estate assets being administered. Does that help?

  2. Joseph Michael Pankowski Jr

    Contributor Level 18

    7

    Lawyers agree

    Answered . I am sorry for your loss. Did your mother have a will? If she did, then the Executor named therein will need to be appointed by a probate court to collect these funds. If not, the court will appoint an Administrator to take on this role.

    Your next move should be to retain an attorney of your own. He or she will review the situation and determine how to best provide assistance. Good luck to you.

    This information is presented as a public service. It should not be construed to be formal legal advice nor... more
  3. Dennis Michael Phillips

    Contributor Level 17

    6

    Lawyers agree

    Answered . Her investment accounts may have Transfer on Death beneficiary designations on them. In that case, then the financial institutions must be presented with a death certificate and identification in order to change the title to the accounts.
    I'm uncertain about her entitlement to settlements. If that means that she was receiving structured settlement payments, then someone must contact the administrator of the annuity and follow their instructions, if there remain assets to be paid. If so, then there should be a beneficiary designation form on file.
    But if she were just waiting on a check, then I would want to follow up with her bank to see what the status of the funds are and how they plan to handle the situation.
    I'm sorry for your loss.

    Do you know the consequences of your legal situation on your Financial & Estate Plan? Dennis Phillips is an... more
  4. James P. Frederick

    Contributor Level 20

    6

    Lawyers agree

    Answered . I agree with Attorney Pankowski, although I would see a probate lawyer as your FIRST step. If there is a Will, great. If not, you are still going to need to probate the estate, in order to get someone appointed who can pursue or at least handle the settlement proceeds.

    I too am very sorry for your loss.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******... more

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