Estate Planning Legal Questions

Hello - I am an attorney in Oregon. You have 2 options to accesst the funds in your brother's bank account. First, a  bank may, but is not required to, disburse a deceased depositor’s account of $25,000 or less if the claimant furnishes the affidavit prescribed in ORS 708A.430(2). So, if you can point that process out to the bank they likely have a form of affidavit that you can sign to get access to the funds. Second, you can file a small estate affidavit in the probate court of the county where your brother lived. Unfortunately the cost of filing this affidavit would be almost as much as what is left in the account. So, this may not be a viable alternative. You can likely get a form of a small estate affidavit from the probate court where it would be filed. Hope that helps.   John SorlieBryant, Lovlien & Jarvis... Read Answer

It is my practice, and that of many estate planning attorneys, that a trust be witnessed by two persons that are unrelated by blood or marriage to the grantor, as well as being notarized.  If the orginial trust was witnessed by two people and notarized, I would follow that and have the amendment witnessed as notarized as well.  ... Read Answer

My first question would be why does the grantor not have a copy of their own trust?  If for whatever reason they did not retain a copy, they have a legal right to demand one.  The drafting attorney has a legal obligation to give a copy of a document that they drafted to their client.  I would recommend the grantor request a copy in writing from the drafting attorney.  If a copy is not furnished within a couple of days, the grantor should contact the Office of Lawyer Regulation for guidance on how to proceed.  ... Read Answer

Depending on the terms of the reverse mortgage will depend what happens when you pass.  Typically these loans have a window for repayment after which the real estate belongs to them.  You might be able to do a TODD or LAdy Bird Deed of your interest, but until you meet with a lawyer who is versed in these areas, I would not recommend this as a DIY project.... Read Answer

Your grandmother certainly has the right to set up her estate plan as she chooses, assuming she has the legal mental capacity and is not under any undue influence. There are many pros and cons to the plan you described (too many to cover here), so I recommend your grandmother meet with a good estate planning attorney to discuss those issues and options.... Read Answer

Yes, a named charity who is a beneficiary of the CRT can be the trustee after your death. There are many additional issues that you may want to consider with regard to a charitable remainder trust. I suggest that you consider consulting with an estate planning attorney who is experienced with charitable remainder trusts to determine whether any of those additional issues that might be applicable to your circumstances. For instance, if you have highly appreciated assets, contributing those assets to a CRT during your lifetime can result in the trust having the ability to sell the highly appreciated assets without incurring capital gaines taxes on the gain, which leaves all of the asset value available to increase the amount of income you can receive from the CRT during your lifetime (and your spouse's lifetime if appropraite) compared to just selling the assets outright. In addition, you receive a charitable contribution deduction for the lifetime transfer to the CRT. You can be the trustee of the CRT during your lifetime so that you can manage the investments in the CRT. Then at the passing of you and your spouse, you can provide for a second level of income beneficiaries (up to 20 years), before the assets are turned over to the charities named in the trust. That is just one example of the benefits of a CRT. Good luck with your planning.... Read Answer

In general, all property that has been properly moved into a Trust will avoid probate.  It appears that your parents trust was in SC.  You first step would be to contact a SC attorney who handles Trust Administration.  This can be any attorney, it does not have to be the attorney or the law firm that drafted the trust.  A Trust Administration attorney can provide you with the information and/or guidance that you need to settle your parents' estate.  ... Read Answer

Hello. My name is Damien. I am a Trusts & Estates attorney in New York City practicing in the New York City metropolitan area.  Without a will, when the last of the parents die, the siblings inherit equally. Grandchildren do not inherit when their parent is living who would inherit. If the siblings do not agree on who will represent the estate or upon the split of specific assets, the court could decide who represents the estate and the split, which could also include a sale of specific property wherein the proceeds would be split among the siblings. Each party would be responsible for their own legal fees or could challenge legal fees being deducted from the assets of the estate if the personal administrator deducts fees from the estate, or attempt to claim legal fees should be paid from the estate due to them benefiting the estate. Separately, when the first parent dies without a will, the children could have a right to inherit at that point also. See section 4-1.1 of the Estate Powers and Trust law. If you need any assistance, a New York Trusts & Estates Attorney could help you.... Read Answer

A quit claim deed is a deed without warranties of title from the owner of the property to one or more individuals or entities.  It effectively (even though it is not a great way to transfer title) removes the title from the owner's estate.  When the owner who deeded the interest away dies, the property is not part of his estate and thus not subject to his will or intestacy laws.... Read Answer

Ask a local probate attorney whether Illinois has a transfer on death deed and, if so, transfer the deed not to your son directly but to a trust which will allow him life time occupancy but, when he abandons the property, divide the proceeds ot any sale among him (or his estate) and your other two sons.  Note that (1) you must create a trust and have a trustee other than this son and (2) you may want to incorporate a special provision for any spouse or minor children who remain behind, whether because your son has died or because he has entered an assisted living or nursing facility.... Read Answer

I dont know if your mother has any assets ( home, pension plan, etc) but if she does, then maybe you and your siblings agree in writing that you will get a larger share of the remaining assets of her estate upon her passing to compensate you for the expenses incurred in caring for your mother. Since your mother has dementia, who has the power of attorney over her care and over her finances? Again, maybe you and your siblings can agree that you will be paid from her assets for the time spent and to be spent caring for her. ... Read Answer

Your sister can sue, because anybody can sue anybody for anything, but unless there is some relevant fact that you've omited, I don't see that she has any kind of a case.  Assuming that  your mother is competent and not being unduly influenced by yourand/or  your husband, she can do what she wants with her money, including using it to put an addition on your house.  Neither the money she  spent, nor the addition to your home, are her possessions. Executing a will means having it signed, witnessed, etc.  I think you mean that you would like to abide by its terms when your mother passes, and I see no reason why you can't (although you may have to probate the will, particularly if your sister disputes any of the division of property.... Read Answer

A person can only sign a Financial Power of Attorney if they are lucid, ie. can understand what they are signing and why.  If the person is lucid, have her sign a POA as soon as possible as once her condition has deteriorated, she will be unable to do so.  At that time, the only option will be to file for a conservatorship over her financial affairs.  To be on the safe side, if there are questions about a person's mental state, you can have their doctor examine them and provide a short letter that on a certain date the patient was presented with a POA, understood the ramifications of signing it and did in fact want to sign it.  I would err on the side of caution to avoid any appearance of influence in this regard.  ... Read Answer

Your parents can name whomever they want as successor trustees but are generally advised not to appoint co-trustees.  Co-trustees can be responsible for one another's actions.  In an already fractious situation, this could lead to more trouble.  The person who is not a trustee is entitled to annual accountings (in most states if 25 or older).  Most revocable living trusts distribute assets and terminate quickly after the death of the second spouse to avoid high taxes.  Your parents should discuss the particulars with their estate planning attorney.  It is really none of your business.... Read Answer

You do not.  You are not the current beneficiary.  If you were your father's agent under a Durable Power of Attorney and HE wants to sell the house, you could ask the trustee to approach the other owner about selling and buy him out or file an action for partition, forcing a sale.... Read Answer

Based on your description, a lawyer may require a statement of competency from a doctor before allowing your husband to sign a financial Power of Attorney.  But, as you know, people's mental status varies.  Try seeing a lawyer at the best tme of day and in the best circumstances for your husband. Most people remain able to sign a medical Power of Attorney until relatively late in the progression of the disease.... Read Answer

In short, no.  A POA is only valid while the principal (person giving authority) is still alive.  From the facts provided it sounds like you are stuck going through probate for the real estate.  As for who gets the property, since there is no Will, the Ohio rules of descent and distribution determine who gets what. (O.R.C. 2105.06) https://codes.ohio.gov/ohio-revised-code/section-2105.06 You may want to sit down with an attorney to review your situation and assist you.  Administering a probate estate without legal counsel can be very difficult and time consuming. Best of luck.... Read Answer