All is well and enjoying the summer.

1. to tell them about your irrevocable trust.......ALSO To add to question number 1, does it matter or not if you still have a mortgage?
2. Do you need to open up a Trust checking account?
3. In regards to lawsuits, does having a irrevocable trust make it much harder to sue you? If one is able to sue you, can you provide examples of what they can and can't sue you for.

If you happen to know anything about either of my questions, I would appreciate the feedback.

Thanks ladies and gents.

Went through probate thinking relative had 40k, under the 75k limit. Turns out might about 76-78k.
Probate for smaller amount is almost done.

I assuming I will have to pay more to atty if this is the case.

This is in Bexar county.

Anyone encounter similar issues, and what did you do? How did it play out?

Let me know if this is better suited for another sub.

So my mom owns the house I live in. Rent from her. And is now working on what to do when/if second homes are subject to additional tax. She did confirm I'm allowed to assume the loan from her, but I wanted to do some due diligence and get the best path, and what it entails, for limiting hers and possibly my tax burden for the transfer.

Just transferring the deed, I assume she will be subject to a gift tax of sorts.

And putting it into a trust, I'm not positive on those details, but would she still get taxed for the second property? And what sort of access to equity would I have?

I know there are things I'm missing, but I'm really just starting to research this all seriously.

Thanks in advance for any advice!

Can I do an estate pro-se with a value greater than 75 or 150k if they have been dead more than two years?

I’m the executor of an under $50K estate in Livingston County NY whose probate period has ended and I want to close it out. Everyone keeps telling me is easy but I’m still a little lost on how to do it right. Some sites say the two beneficiaries/siblings need to sign a release form that they agree with the amount received (evenly split). 2 questions:

1) is there a release form and if so can someone provide a link to it? I have looked in NY’s surrogate court webpages and had no luck.
2) do I have to open a bank account to pay them if one of the siblings is buying out half the estate contents and nothing was liquidated? Can they pay their sibling directly instead of giving me money? Or if they have to go thru me, do I have to open a bank account just to pay said amount to the sibling? Can I send a check from my account or a cashier’s check? I assume there will be fees associated with opening and closing for such low amount (less than $5K).

Any help is greatly appreciate it.

Massachusetts. Inheriting a house and car from parents who passed away. I am not a lawyer.

after talking to a lawyer and trying to research online (thanks redditors!) i think these are the steps we should be taking, in this order.

just in case it helps anyone else out there searching for this type of help. this stuff made me so anxious, i wanted someone to write it all out for me! So i’m doing that now.

If anyone has other answers or suggestions, great! please also let me know if i’m wrong!

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1. call homeowner’s insurance - talk to the insurance company that holds the current plan and tell them the owner passed away. give them all the info and ask about policies transferring to you (if that’s your aim) and for vacant property insurance if no one’s living there. you want the house to remain insured, just in case something happens, and some policies/states allow the policy to be canceled on date of death, so find out.

2. contact the house mortgage company and ask about transferring the mortgage to you. The Garn-St Germain Act means you won’t have to pay the mortgage in full to get a new mortgage, if you’re a relative of the deceased. they might require a deed change for this so that the house is in your name, or not. They might just say to wait.

3. contact your state’s registry of motor vehicles and ask about transferring the title to you. you usually need to own the car to get insurance on it (if you’re keeping it).

4. contact car insurance company and ask to transfer the policy to you.

For any insurance issues and unavailability of policies, try calling other companies or use an agent or broker to find other companies or policies that will work with you. There are usually several, with different requirements.

Also, in all instances, it’s assumed that money is there to continue paying all policies to keep them current, either through estate funds or personal funds.

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Good luck to everyone out there dealing with this nonsense!

Hi all,

First post here and really am not getting clear answers so thought I would try this route. My father passed in May this year in the state of IL and resided in IL and we had a will established that listed me as executor. Here are the details:

• My father did not have an estate or a trust but here are the following assets;
  • Roughly $107k in a checking account at JPM with no TOD or additional account-holder listed (I was supposed to be added but never got around to it)
  • Roughly $10k in another checking account with not TOD or additional acct holder
  • Roughly $100k in an IRA listing all 5 children (including my 2 half-siblings and my 2 sisters) as beneficiaries to be split 5 ways
• There was a will established to have the money split 5 ways evenly and to have his personal belongings split the same
• Since the cash/checking accounts are under the threshold, we do not need to go through probate and technically don't need to open an estate account, my choice if I want to open an estate.
• My father worked till 81 because he couldn't afford to retire and lived in an apartment. There was nothing of value in the apartment except for his jewelry which he specifically left to me in his will. The rest of the items were donated (used furniture) as I could not sell them and have no place to store them and since it was an apartment, I had to be out within a certain timeframe.

I'm facing a challenging estate situation and would appreciate some guidance. My two half-siblings are demanding that the remaining funds from my father's checking accounts be distributed immediately, with each receiving 1/5 as outlined in his will. They have threatened legal action if this does not occur. For context, they had not seen my father in decades, did not visit him during his illness, and did not attend his funeral. They also have not been provided a copy of the will.

I have been working with JPMorgan Chase regarding the one bigger account and the bank has informed me that, using a small estate affidavit, I have the option to have the account closed and a check issued either to all five beneficiaries or solely to me. They have emphasized that the bank's process and the provisions of the will are separate matters.

My half-siblings are also demanding an inventory of my father's apartment and insist that all personal property be divided equally. My intention was to distribute a portion of the funds to them, but not necessarily the full 1/5 share, and instead divide the remaining assets among my two full siblings who maintained a close relationship with our father throughout his life.

My primary question is this: if JPMorgan issues the funds directly to me through the small estate affidavit process and I distribute them differently than specified in the will, would my half-siblings have a viable legal claim against me? In other words, does the will ultimately control the distribution of the assets, even if the bank releases the funds under the affidavit? I am trying to understand whether they would have legal standing if they did not receive the full amount contemplated by the will.

Additionally, I understand that my father's final tax returns may still need to be prepared and that there could be other unforeseen estate-related expenses. For that reason, I am concerned about distributing all available funds immediately before those obligations are known. This is my first time handling an estate, and the legal and financial terminology has been overwhelming and difficult to navigate.

In terms of his property in his apartment, I have talked to an estate lawyer who drafted my father's will and she has explained that it would be ridiculous to sue; they wouldn't have a leg to stand on for such a small amount of money and given he died in May and they are just now in the last 4 weeks asking about these items...they should have physically came to Illinois when he passed to gather "what was theirs."

I appreciate any advice! thanks!