My parent owned a house since 1978, and they both passed away, the house worth $400,000 now because it looks bad overall but the house already paid off, and in according with will said it is going to split 50/50 between me and my brother, we as...
I respond to your specific questions as follows:
1. Yes, but the Court will need to approve any distributions.
2. Your brother is entitled to his share. If the property is distributed to both, then you can work out whatever payment arrangements you want. There are tax advantages, however, to you "buying him out" during the probate if it can be accomplished.
3. No. All distributions have to be Court supervised and approved.
4. Your brother is entitled to his fair share of the asset, including any increase in value of the asset. If your brother will agree to accept less (the original value), then great. But the law doesn't allow you to force him to take less.
Although these matters seem simple in concept, the devil is in the details. Seek legal counsel to do it once and do it right.See question
A family member moved in with my grandmother sold her house. My grandmother's name was forged on the documents. We need to get it back
If the house won't be returned voluntarily, she needs to sue. Act quickly before liens attach, the property is re-sold or they try to evict you both. Best of luck.See question
My 61 year old brother has early onset alzheimers, MMSE socre: 11/30, I was the designated primary health contact until his couch dwelling friend (only) who lost all her money started alienating me by convincing my brother I was after his money...
With an MME score that low, you have a very good chance of securing a conservator appointment. See experienced counsel for more details.See question
My mother had 5 kids before she married my step father. Then they had 2 more kids. We are in total 7 kids. 2 years ago my mom and step father wanted to write a will, so we went to a paralegal and they wrote the will. The paralegal never told me th...
If your mother left her assets to your step-father without restriction, there is little you can do. The assets belong to your step-father and he has the right to do what he wants to do with them.
If you believe your step-father is incompetent or subject to undue influence (which is very challenging to prove), you can consider commencing a conservatorship proceeding, but they are very expensive and not guaranteed to secure the result you want.
A paralegal is not a licensed attorney and cannot give you legal advice. I'm sorry to tell you that you may have learned a painful lesson about the importance of having good legal counsel.See question
With my late father's recent passing, the family trust drawn up by my parents several years ago became irrevocable, and my brother and I are the only beneficiaries. My brother, who is also trustee, has asked me to waive the 120-day allowance of t...
Waiving this deadline allows the trustee to finish the business of the trust and distribute assets. Otherwise, the trustee is generally wise to wait for this period to expire before making distributions. I would not be afraid to waive as long as you understand the trust, have had the chance to obtain objective legal advice, agree to the terms of the trust and are ready to move on.See question
I reside in a home that is part of a family trust. Another family member has the lean. It is not my debt.
If the Settlor (creator of the trust) owes the IRS a debt, the Settlor does not escape the debt by moving his assets into a family trust. The IRS can enforce the debt against the trust (I assume this is what you mean by "break" the trust).
On the other hand, if the IRS debt is owed by a beneficiary, a good spendthrift clause in the trust should immunize the trust from collection.
Whether the IRS or another debtor get paid first is generally a matter of priority. See an attorney for more details.See question
My sister is executor and I just found out she takes a fee
The minimum fee (called statutory fee or statutory commission) is found at Section 10800 of the California Probate Code. The fees are calculated on the gross value of the estate, not the equity. Both the personal representative (executor or administrator) and the personal representative get the same statutory fee.
Both parties can also earn extraordinary compensation for work beyond the normal scope of administration.See question
Mom is 87 & needs more care than I can physically provide or my siblings are willing to provide. I am looking into a reverse mortgage to offset cost so I can manage. Her home is in a revocable trust now but for long term care med-cal planning I'm ...
It is possible that the transfer to an irrevocable trust will not trigger the due on sale clause, but why risk it if you don't need to?
I believe the better approach is to keep the home in a revocable trust while using the reverse mortgage. The residence is not counted in Medi-Cal qualification and as long as it is in any trust, it is immune from recovery. When the date and time comes to apply for Medi-Cal and move Mom into a skilled nursing facility, the residence can be moved into an irrevocable trust prior to it being sold. Once sold out of the irrevocable trust, the proceeds would not count in Medi-Cal qualification. A foreclosure takes at least four months and the planning can be coordinated to make sure that the sale is ready before the transfer.
From my perspective, the most important thing is to make sure you have Medi-Cal planning powers (in the revocable trust and a DPOA), so that you can move the residence without penalty when and if the time is right.See question
Trustee/landlord/authorized agent is evicting two beneficiary tenants in her own name and without written consent from owner. Trustee alleges tenants were served a 60-day notice but 1 tenant was not in possession when the notice was served but tru...
A demurrer could challenge the standing issue if you can prove it via judicial notice (a copy of the proper vesting deed). A motion to quash is necessary to attack the defective service. Otherwise you are going to have to answer and either move for summary judgment or these issues defend at trial.See question
my mother is under stress due to my abusive 48 year old brother!! But cant find the way to get him out. she feels sorry for him!
File an application for an elder abuse restraining order. As part of the application, you can request that he be removed from the premises. The forms and instructions can be found on-line. Good luck.See question