PERS retirement death benefits VA insurance 2011 car no disagreement with beneficiaries I am the executor named in the will
I'm sorry about your father's death. You don't provide enough information to determine whether a probate is necessary. Any assets that have a POD beneficiary named would not need to go through probate. That is also true of any assets he has in a living trust. Likewise, assets that were held in "joint tenancy" would not need to be probated.
If the rest of his assets (that is, assets without POD beneficiaries, not held in a trust, not held in joint accounts or in joint tenancy) are worth $150,000 or less, then a probate will not be necessary. The estate can be settled with a "small estates affidavit". To use a small estates affidavit, you need to wait 40 days after his death and then follow the affidavit procedure. You can find a sample here: http://www.saclaw.lib.ca.us/Uploads/files/forms/small_estate_affidavit.pdfSee question
It is in the state of california one of the two borrrowers is also the poa for the the estate of the family member carring the note.
I agree with Mr. Mashal. The lender still has the right to enforce the promissory note. If the estate of the deceased family member fails to pay, the lender may have the right to foreclose on the security (that is, force the sale of the house if the promissory note was secured by a RECORDED deed of trust) or file a collection suit.
Be aware, though, that certain "statutes of limitations" may apply to the ability to collect on an unsecured loan. You need to contact an attorney immediately if you want to be sure you can enforce your claim.
I am 1 of 2 beneficiaries of my father's estate in Ca. The executor lives out of state. Iv'e lived in the decedent's home since he passed away 1 yr. ago. The executor & I agreed I could remain in the home until it sold (it's currently on the marke...
There is a specific California civil code section that states no "owner" of a property can be charged rent unless s/he has agreed in writing to pay it. If you are a beneficiary of the estate, you are an owner of the property.
As for your claim for reimbursement, you may need to hire an attorney to assist you in obtaining this .
I would be happy to assist you. My office is in Palo Alto, but I have represented probate clients as far north as Mendocino County and as far south as San Diego County.See question
Father's estate is under 5 million, and from what I read there is no inheritance tax in CA.
I'm sorry about your father's death. If his house was not held in a living trust, I doubt that you will be able to sign the papers to transfer it to a new owner unless/until you are appointed as his "executor".
You need to contact a probate lawyer in the state where he resided (which may or may not be the state in which he owned a home) IMMEDIATELY.
If your father resided in California, I would be happy to help you.
As to your tax question, if your father owned the property as of the date of his death, it should qualify for a "step up" in cost basis and there would be no capital gains tax on its sale. Whether there is estate tax or not depends on the value of his entire estate (including bank accounts, life insurance policies, brokerage accounts, 401ks, IRAs, checking & savings accounts, etc.).See question
please help us with this ty...
I've had to deal with this issue. The long and short of it is that you're then in a "double probate" situation unless the beneficiary did not outlive the "survival" period (in most wills there's a clause that says something like "if the beneficiary fails to survive for x number of days, the beneficiary will be deemed to have predeceased me").
If you need the assistance of a probate lawyer, I'd be happy to help. My office is in Palo Alto, but I've handled a number of San Francisco probates.
Husband and wife have a joint trust with only each other as cotrustee/beneficiary. The husband's will gives everything to the trust. However not all properties were added to the trust. Can wife file spousal prpperty petition to avoid full probate?
In addition to the response Bob Bergman gave, the Santa Clara County Probate Court is also quite amenable to what's sometimes called a "Heggstad" petition - it's a petition that says, in effect, "we meant to put everything into the name of our trust, but we forgot a few things; please confirm that these assets really belong to the trust."
My office is in Palo Alto; I'd be happy to assist.
My partner is the executor of his mothers will. She has left an absolute mess of unpaid taxes and debt. She has named my partner as the sole heir because his brother is going through bankruptcy. The biggest concern is the property in California. I...
Your question isn't clear. You say that the loan was in "both names". Whose names? Your partner can certainly "disclaim" his right to inherit the property and then he would not be responsible for either the house or the debt.
You partner needs to talk to an attorney to determine his best course of action here.See question
Basically I want to be executor to my Moms extate which she wants me to do, to protector her, we have a sibling and a significan other that are trying to move in and i want to prevent any unauthorized changes to the house or structure. I want to k...
It's not clear to me what a rental agreement will do to protect your mother's property against unauthorized changes to the house. Just having a rental agreement in place certainly would not prevent your mother from signing ownership over to someone.
As Mr. Frederick said, you need to speak with a competent estate planning lawyer. Do-it-yourself planning is foolish - especially in a case like this.See question
My mom owns a house-wants to make a simple will divided 3-way me(the daughter) 2 grandsons. One grandson is on the deed of the house for few years,now she needs to take him off in order to devide the house properly and fair.My concern is what if...
Your mother has another issue that the out-of-state lawyers probably aren't familiar with: PROPERTY TAXES. If the grandson transfers his interest in the house back to your mother, HER property taxes will increase to fair market value on the portion transferred.
Do it yourself estate planning is costly ... I'm willing to bet that the increase in property taxes alone will greatly outweigh what it would have cost your mother to have a lawyer assist her with her plan. Don't compound the problem by continuing to do it yourselves.See question
Does it have to be official - witnessed and notarized? How about a casual note with final wishes and it's signed at the end.
Under the right circumstances a fairly "casual" note that's signed and dated can be admitted as a will ... as long as it's entirely in your own handwriting. It can be on the back of an envelope if it says "this is my will. Give all my property to (name)." .. I got one like that admitted to probate a number of years ago.
BUT, it would be better if the will were more formal - that way, it's less likely to be challenged. And since there are no "do-overs" after you're gone, if it's important to you that your assets go to the people (or organizations) you want them to go to, then it should be important to you to do it right.See question