lets talk Wills

[Jinx'd]

my wife told me that her mom is starting to not trust my wifes sister. said sister, i will call D. D is the executor of moms Will. i am looking to understand Wills and there execution's.

ok, mom dies,( could be any day now, but she is currectly in good heaalth). anyway.

where to start after mom dies ? go to her lawyer ? then what ? what will the lawyer do ?
i am sure mom will devide everything in 3rds = 3 of them. but could D take whatever she wants and tell the others to pound sand ?
house would have to be sold. whom would do this ?

i sure hope you guys can help me understaand. "i" need to know so my wife doesn't get screwed. thanx

 

[f1r3b1rd]

If mom is in good health and sound mind she can have said sister removed from executership. She can also have any person she trusts given a power of attorney and that person can make all decisions on her behalf in the event of death or loss of mental competence.

Either way it's best to have her do it while she can, its hard to fight executor of a will after death.

 

[Jinx'd]

thats what she wants to do. but that would involve "me" driving all over town. which, is probably not necessary. so, another question.

mom's Will lawyer now. can she just get another "local" lawyer, and that one would override the current one ?

 

[f1r3b1rd]

thats what she wants to do. but that would involve "me" driving all over town. which, is probably not necessary. so, another question.

mom's Will lawyer now. can she just get another "local" lawyer, and that one would override the current one ?

Yes the most current will negates the previous will.
Just bring the previous will and make sure the lawyer adds verbiage stating that will is now invalid or negated. He will probably not want to at first, but push him/her to do so and explain why.
Remember the lawyer works for you and mom, not the other way around.

And while you are there get that power of attorney to protect her, it will let anyone she decide make medical decisions and everything for her.

 

[MrMeowgi]

I leave all my vapes to @f1r3b1rd. Other than that I have nothing. Ha ha. Boom done.

 

[SpectoVia]

Have you seen documentation that appoints DD as the executor?
Or is this just "assumed" since she may be the oldest sibling?

If your MIL has a will, it should be filed in your local probate court or a copy held at her attorney's office.
The executor's role is not to decide what happens after the fact; it is literally to "execute" and follow the wishes of the deceased.

If your MIL is that concerned, have her make the necessary changes. It's hard to put a price on her peace of mind or yours.
Might be worth everyone's time to "driving all over town". Incorporate a stop at a Baskin/Robbins or Dairy Queen; ice cream will put a smile on everybody's face.

best wishes to you and yours

 

[SteveS45]

You can change a Will at any time as long as you are still living and breathing on your own. Been through this (Not Personally) recently and easiest way is to do it with the original lawyer but not needed if you want to use a different one.

 

[Jinx'd]

Have you seen documentation that appoints DD as the executor?
Or is this just "assumed" since she may be the oldest sibling?

If your MIL has a will, it should be filed in your local probate court or a copy held at her attorney's office.
The executor's role is not to decide what happens after the fact; it is literally to "execute" and follow the wishes of the deceased.


best wishes to you and yours

that is what she said, and i believe her.

she has a Will, but wants to amend it, as it is old = doesn't even have her new house on it . i am looking into having her use printed documents that she fills out, witnessed and notorized. looks to be legal in this state. then place said documents, where, idk yet.
MIL is thinking to have my wife executor. which means i would be doing most of it. selling the house being 90% of it.

thanx

 

[The Cromwell]

I only worry about my will. If I die all to wife. If she dies all to me. If both dead we don't care

 

[SteveS45]

MIL is thinking to have my wife executor.

Executor gets a fee for all the work so it isn't for free. Certain percentage of assets I believe.

 

[Jinx'd]

I only worry about my will. If I die all to wife. If she dies all to me. If both dead we don't care

my SIL and her family have been steeling shit from the mom the 30 years i have known them. when it comes time for inheritance, i don't see why that would change.

 

[Jinx'd]

Executor gets a fee for all the work so it isn't for free. Certain percentage of assets I believe.

i had no idea, how is that determined ? i mean, who is it that says "you get $xxx for doing this " ?
i had told my wife that she shouldd get a little something for doing the legwork.

 

[JuicyLucy]

i had no idea, how is that determined ? i mean, who is it that says "you get $xxx for doing this " ?
i had told my wife that she shouldd get a little something for doing the legwork.

It is usually written into the will what reasonable compensation the executor is allowed to execute the will

 

[JuicyLucy]

Also, it is not always necessary to write a new will to make amendments, such as changing executor, excluding assets no longer owned, or adding beneficiaries; you can add amendments or add codicils at less expense if you use the original attorney

Wills should be reviewed at least every five years or so, because even if you don't think anything has changed, I can almost guarantee you it has

 

[The Cromwell]

Just use Wills R Us based in the Ukraine?

 

[Jinx'd]

Just use Wills R Us based in the Ukraine?

and i could get my money laundered too.

 

[SteveS45]

So sad how some members never have anything worthwhile to contribute to a serious matter except their attempt at humor.

 

[SteveS45]

Laws vary by state.

 

[The Cromwell]

and i could get my money laundered too.

Yep they will clean it right up for ya.
None of that messy old ink left at all.

 

[lordmage]

if you have a new will draw up while mom is alive and of the right mind that new will will override the old one just be sure to have notarized copies sent out to all those listed in the old one and be sure to have all relatives listed as receiving something even a penny otherwise they might have grounds to sue for their fair share.


also look into transfering moms assets into a living trust and having that trust then sell her assets to then distribute it via her will.

 

[JuicyLucy]

the old one just be sure to have notarized copies sent out to all those listed in the old one and be sure to have all relatives listed as receiving something even a penny otherwise they might have grounds to sue for their fair share.

Not everyone shares their will before they die - it certainly is not required by law in any state I am aware of - though it is customary to at least share the provisions of a will with your intended executor

Trusts are a different matter, and best used if you wish to avoid tax issues/avoid probating a will - you can also have both

Also, it varies from state to state on how a person does not leave relatives assets from their estate - some, you have to specifically exclude close family members by name in your will if you wish to disinherit - that is why you should at least consult an attorney before signing a will

Also, it's important to note that Power of Attorney is automatically nullified the very second a person dies - it is completely invalid the moment of death

It is the executor of a trust or will that takes control of the estate of the dependent upon death, and often (depending on the state you live in) the executor cannot act until the will has been submitted to the proper courts for probate

If you are a beneficiary to a will and the executor does not follow the terms of the will, it is important to complain to the court very quickly because often the assets disappear, and it is costly to try to get what you feel you were entitled to if the executor willfully disregards the last wishes of the person who died

 

[lordmage]

yes indeed a trust is good for tax issues as well as the medicare 5 year look back if properly setup while the person is alive.
they are also good with a proper will and how those assets are handed out.

thanks for the fill in on POA and sometimes the POA is the executor separately and a trust if done correctly can at least avoid some of those issues where the will is not followed since a Trust is both part of and separate of the will.

 

[Jinx'd]

So sad how some members never have anything worthwhile to contribute to a serious matter except their attempt at humor.

Steve, its ok. this issue, for now, is not so imperative that it needs to be dead serious. and you know me, i like laughs.

 

[Jinx'd]

Laws vary by state.

View attachment 152911

yeah. i am looking into it a little, as in idk yet how open she is to doing it my way. as nice of a lady she is, she can be a hardhead.
much like my wife= more interested in talking, not so much about listening. and the MIL's sole income is SS, so she doesn't have much money. $2500 aain't gonna happen.

 

[Jinx'd]

Yep they will clean it right up for ya.
None of that messy old ink left at all.

well since i am not a democrat i don't think they would take kindly to me. they are far more used to dealing with democrats.

 

[Jinx'd]

if you have a new will draw up while mom is alive and of the right mind that new will will override the old one just be sure to have notarized copies sent out to all those listed in the old one and be sure to have all relatives listed as receiving something even a penny otherwise they might have grounds to sue for their fair share.


also look into transfering moms assets into a living trust and having that trust then sell her assets to then distribute it via her will.

other than sometimes being a hardhead, her mind is just fine. in our case NO ONE should be told what is in the will. as the others will try to make her change it to their benefit.

 

[Jinx'd]

Not everyone shares their will before they die - it certainly is not required by law in any state I am aware of - though it is customary to at least share the provisions of a will with your intended executor

Trusts are a different matter, and best used if you wish to avoid tax issues/avoid probating a will - you can also have both

Also, it varies from state to state on how a person does not leave relatives assets from their estate - some, you have to specifically exclude close family members by name in your will if you wish to disinherit - that is why you should at least consult an attorney before signing a will

Also, it's important to note that Power of Attorney is automatically nullified the very second a person dies - it is completely invalid the moment of death

It is the executor of a trust or will that takes control of the estate of the dependent upon death, and often (depending on the state you live in) the executor cannot act until the will has been submitted to the proper courts for probate

If you are a beneficiary to a will and the executor does not follow the terms of the will, it is important to complain to the court very quickly because often the assets disappear, and it is costly to try to get what you feel you were entitled to if the executor willfully disregards the last wishes of the person who died

thanx Lucy. if i may ask, if you know. could you give a little info on the tax thing. thanx

 

[JuicyLucy]

thanx Lucy. if i may ask, if you know. could you give a little info on the tax thing. thanx

You would need to consult a tax or probate attorney or other expert in your area to address state death tax and what is and isn't taxable federally - a lot depends on how it is passed on and to whom

Or, you might look to see if there are free or low cost nonprofits that can advise the elderly on estate planning

We updated our Alaska wills about 3 years ago, and are in the process creating new ones as we moved to a different state, and the laws are significantly different between the two

 

[f1r3b1rd]

If you have minor children, they can be used as a shell for tax purposes.
At least that used to be the case back when I used.

 

[Jinx'd]

thanx for the advice everyone. it was been passed on. but, sadly, like i said, a "hard head" doesn't know how to listen.
lead a horse to water thing ....

 

[JuicyLucy]

thanx for the advice everyone. it was been passed on. but, sadly, like i said, a "hard head" doesn't know how to listen.
lead a horse to water thing ....

Might need to "run her all over town" but could be worth it in the long run if she'll do it

 

[Jinx'd]

Might need to "run her all over town" but could be worth it in the long run if she'll do it

trying the "make phone calls first" thing. the problem is, she doesn't know her ass from a hole in the ground, but thinks she does.

btw, she is a real nice lady and i do like her.