Does my father need a will if i'm an only child? : my mom just died and my father doesn't think its necessary for him to have a will since i am the only child . he owns the house he lives in and mom left some bank accounts, not much over 100k. he is getting social security and a pension.
Roman’s answer:
Very common question.
Some questions your father should consider are:
1. What are his assets?
2. What happens if you predecease him?
3. What if you are unable to administer the estate for any number of reasons - who manages the money for you.
There are many many others, but hopefully this will stimulate a conversation with an estate planning attorney as attorney Robinson suggested.
What do I do if my father passed away and his name is still on the loan and we keep paying it for him?: My father passed away and the house was passed on to my mother and me before he died. The loan is still in my father's name and the bill gets paid every month but we can't keep paying this bill with his name on the loan. It's been some time that we have been paying the loan in his name.
Roman’s answer:
Without looking at the specific loan documents, its difficult to tell, but there is a federal law which prohibits banks from foreclosing the mortgage if is being paid. Whether it makes sense for you to assume the loan or refinance is a different story, one best discussed with a qualified professional. If you want to look at the statute I am referencing, you can find it here:
https://www.law.cornell.edu/uscode/text/12/1701...
My parent passed away owning a condominium in her name that I her son Reside in .can I transfer in My name .no other relatives.?:
Hi parent mother passed away I live in condominium that's in her name and board had POA from her regarding g it, the condo I know that's no good now.
There are no others relatives dad passed away earlier .So can I transfer it to my name no probate court or not?
Any other assets she may have .can I sell or not
Roman’s answer: The answer depends on a few factors and you really should speak with an estate attorney to determine whether you can or should use an heir at law deed or need to go through the Surrogate's Court. My advice is to have a free consultation with an attorney who can give you appropriate advice based on your situation.