QUESTION
What options do my children have regarding inheriting my debt? How?
Asked on Aug 06th, 2015 on Estate Planning - California
More details to this question:
My children inherited approximately 400 acres of farmland from their grandfather about 4 years ago and the estate will stipulates that their mother, his daughter, will receive any proceeds from this property while she is alive. The property consists of 200 acres of land with a house, with debt of about 79k, also 200 acres of crp land with debt of 15k. The mother is trying to take the property from them, what are their options?
11 ANSWERS
Mother has a life estate in the land but the children are the ultimate owners. There are cases where the terms of a will can be overturned by a court but they are very rare. You don't indicate why Mother is trying to obtain the land. There may be some legitimate reasons, such as one of the children is severely disabled and inheritance of this much property would cause problems with disability or medical benefits. But generally Mother would have no legitimate claim to the property unless all the children agreed to turn it over to her. And there could be some significant tax consequences to that action.
Answered on Aug 07th, 2015 at 9:48 AM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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Unfortunately, there is not enough information here to answer your question, except to say that your children probably need to consult with an attorney who handles real estate and/or inheritance disputes. Key information will be how title is held to the property, and what exactly the mother is doing to try to take the property from them. There may be other questions, which can be addressed in an interview with an attorney. There are any number of attorneys on LawQA that should be able to assist your children. You can also check with the Bar Association in your county for a referral panel.
Answered on Aug 07th, 2015 at 4:30 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The answer to this question depends on the terms of the will. Your children need to consult an attorney to interpret the will for them.
Answered on Aug 06th, 2015 at 8:15 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would need more details coming but it is unlikely that their mother is going to be able to disinherit them.
Answered on Aug 06th, 2015 at 5:16 PM
Based on the facts you provided, the mother cannot take the property. Hopefully, it is all in a trust and the trustee can mediate. If not, start hiring lawyers.
Answered on Aug 06th, 2015 at 3:15 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Much more information, and a review of pertinent documents, is required to properly answer your question.
Answered on Aug 06th, 2015 at 2:50 PM
3 Awards
Your question is confusing. You ask about your debt, but then refer to debt on property that another get an income interest on. I urge you and/or them to seek counsel. The specifics of the details will have a bearing on the response. This forum is intended to let you know if an attorney think you need to hire an attorney. The answer is yes. This is opinion is solely based upon the facts presented in the inquiry. Additional facts may be important and may change the analysis. If you are uncertain, seek legal counsel. We are not your attorneys. This answer is being offered to assist you in determining if you need to retain legal counsel to assist you, not to resolve your issue through an email inquiry.
Answered on Aug 06th, 2015 at 2:46 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Obtain probate litigation legal counsel for your children immediately to represent them in the protection of their inheritance rights.DO NOT DELAY.
Answered on Aug 06th, 2015 at 2:43 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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Your children's responsibility for the debt on the assets and the mother's rights to take action now depend upon how the property was distributed at the time of the grandfather's death. Was the property put into a trust? If by trust, is the mother an income beneficiary under a trust? Did the grandchildren receive the property in a distribution by deed? If by deed, does the mother have a life estate? Typically, the party receiving a distribution in kind would take subject to whatever debt burdens the property. You need to review the state of title to the real estate and the grandfather's estate plan documents with an attorney.
Answered on Aug 06th, 2015 at 2:42 PM
Edwin K. Niles
You don't say how she is trying to take the property, but the question is too broad, and too important, to be addressed here. Please see an estate lawyer ASAP.
Answered on Aug 06th, 2015 at 2:18 PM
Trusts and Estates Attorney serving Jacksonville, FL
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Law Office of David M. Goldman PLLC
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If the debt is not associated with the property, there may be a way to separate the assets so the debt is left behind. You should talk with an estate planning and asset protection lawyer to see what your options are.
Answered on Aug 06th, 2015 at 2:18 PM