Skip to main content

Questions tagged [will]

The tag has no usage guidance.

Filter by
Sorted by
Tagged with
9 votes
2 answers
4k views

How to set up passive income from investments for children?

Let's imagine the following: Mr. Leopold is an investor. He managed to save fifty million rubles by investing by now. He has children, but he is afraid that they will waste all his fortune after he ...
Жёлудь-мистэ́р's user avatar
7 votes
1 answer
3k views

Will my daughter, a USA resident, owe Taxes on a UK inheritance?

My daughter, who now lives in the USA, has inherited some money from her grandmother in the UK. It is approx £25k. Will she be liable for any tax when it gets transferred to her USA bank account?
Ian's user avatar
  • 71
0 votes
1 answer
74 views

How does insurance work in the US in case of long hospitalizations?

I have been reading some advance directive (living will) documents online and I wondered what happens when one is in the hospital and is in a vegetative state. I am trying to cover my dependents and ...
heretoinfinity's user avatar
0 votes
1 answer
33 views

US - Taxation of foreign trust before distribution

My wife and I are US green card holders with an annual income of around $270,000. All of her family is in the UK. Her father passed away in 2016 in the UK and left a will where all his money would be ...
MisterStrickland's user avatar
1 vote
1 answer
159 views

Is this inheritance will fair, or only equitable? [closed]

I'm formulating my will and I wish to provide for my three children. They are all aged near 50. Two children earn 300k+ and have assets of over two million dollars each. The third child has no income ...
Stewart Anstey's user avatar
1 vote
1 answer
123 views

How to keep a will up-to-date?

I am not sure if I have a misunderstanding about how the will works. Scenario: Let's suppose I: have accounts in RobinHood, TD Ameritrade and Wells Fargo. then I prepare my will listing all these ...
Wagner Patriota's user avatar
2 votes
1 answer
157 views

What happens to all my assets outside US if I die?

The event: I am Brazilian and a Green Card holder and I bought a house in Brazil. First question: Do I need to register this house in my tax return here in US? Second question: Suppose the scenario ...
Wagner Patriota's user avatar
0 votes
0 answers
59 views

i am co-buyer on auto loan

the buyer is deceased and the title is in his name. I am co-buyer on paperwork with finance co. Can anyone make claim on car if he willed it to me?
dee's user avatar
  • 1
2 votes
1 answer
139 views

Do I need a will if beneficiaries are designated?

Beneficiaries are properly designated in brokerage accounts: spouse primary, children secondary, etc. The only major thing outside brokerage accounts is the house. And I live in FL. Should I bother ...
jacknad's user avatar
  • 189
3 votes
3 answers
4k views

How to name a revocable living trust?

The abbreviated context of the question is this: I have young children that are too young to name as secondary beneficiaries (my wife is the primary beneficiary) on various accounts. I am creating a ...
Henry Lee's user avatar
  • 163
56 votes
7 answers
12k views

Looking after a wayward brother in mother's will

My brother has a problem with money; twice personally bankrupt, 3 marriages and 2 kids (from the 2nd marriage). Our mother is getting old and getting worried. She worries that if she wills him money,...
bendecko's user avatar
  • 619
3 votes
1 answer
336 views

My mother’s brother died in Germany. He had no wife or children. She is the only living sister

I would like to know if she gets half of what he had and then it is split with nieces and nephews? Or is it all the same? He had a document for his house that said the house is to be sold and will ...
Susan's user avatar
  • 31
3 votes
1 answer
151 views

Canada - how to proceed with deceased parent's mortgage

My father died without a will and so there's a lengthy legal process for obtaining ownership/title of the house. In the meantime we have the property rented out and I've been making mortgage payments ...
Chris's user avatar
  • 437
1 vote
1 answer
173 views

Is my house handled differently from other property in my will?

My personal will states that my possessions, money, and property are to be given equally to my son and my wife upon my death. However, I was told that my house is an exception and still has to go to ...
Headblender's user avatar
3 votes
1 answer
190 views

If I carry a lot of debt and few assets, how should I make out a will?

How should I word my will if my debts outweigh my assets? I don't want to leave any family members stuck with a huge bill when I finally pass away, so what should my will say? Clarification: This is ...
Octopus's user avatar
  • 523
0 votes
3 answers
1k views

Will: Leaving property to beneficiaries until their deaths only

I am in the process of writing my will and overall it's a very simple one, apart from one thing: I would like to leave some money for my brother to help him take care of my parents until they die. ...
MisterStrickland's user avatar
3 votes
1 answer
274 views

Can a life insurance policy benefit be paid if the estate is contested?

My grandfather passed away and left an insurance policy in my name. My mother is contesting the last will and testament due to another family member completing fraudulent acts with my grandfather's ...
Joy Green's user avatar
6 votes
2 answers
230 views

Is there a need for a Living Trust in my situation?

I was thinking of having a Living Trust drawn up for the benefit of my wife should I pass away so that she would have access to all of our assets without going through probate. It occurred to me ...
Barney Cowell's user avatar
4 votes
1 answer
107 views

When and how to create a will document Vs. inheritance rules

I few questions related to will: Q1: Is there any particular kind of assets for which you must have a will document or inheritance rules are sufficient? In particular: Real Estate Automobile ...
Connect The Dots's user avatar
10 votes
3 answers
522 views

What's the normal course of events when someone who owes on a mortgage dies?

Alice owns a house she lives in and has a mortgage on it. She unfortunately dies, owing money on the mortgage. Her son Bob inherits the entire house. Assuming nothing too far out of the ordinary, ...
DJClayworth's user avatar
  • 33.6k
6 votes
2 answers
302 views

Should an IRA be disclaimed to allow it to be distributed according to a will?

My father recently passed away and left me as executor of his estate. His intention was to leave my mother 50% of his estate and my sister and me 25% each. He had told us this verbally and also had ...
FDRobinette's user avatar
1 vote
3 answers
1k views

Can a will or trust have more than one executor?

I am married with 2 grown children. I'd like do my own will and/or trust without an attorney that eventually leaves everything equally to my 2 children when the both of us have passed. We currently ...
jacknad's user avatar
  • 189
5 votes
1 answer
446 views

What happens to your assets if there is no heir?

I have read a lot of articles about what happens if you die without a will in a variety of situations (married, single, domestic partners, with/without children, etc.). Most "extreme" is that you die ...
Michael's user avatar
  • 10.2k
3 votes
4 answers
306 views

Would this inherited house have half-equity or simply a good deal?

The scenario: I have a cousin C who will be left (they've seen the will in advance) their parent's house jointly with their sibling S. The will has a provision for C to buy out S's share at a pre-...
sharur's user avatar
  • 207
1 vote
3 answers
246 views

How should one bequeath a large asset (e.g. real estate) in a way that will cause the least disagreements among multiple heirs

Say that I have a large asset, like a real estate or a valuable possession, that I want to handle in my will. I have three children and would like to bequeath it to them (I don't think it would be ...
Thunderforge's user avatar
  • 1,345
3 votes
1 answer
2k views

Legal right to ask for someone bank records UK

My mother is involved in a dispute with her recently deceased partners daughter, who is demanding to see records of the joint bank account she held with her partner. My mother acted as her partner's ...
Lee Far Out East's user avatar
72 votes
9 answers
42k views

If the co-signer on my car loan dies, can the family take the car from me like they're threatening to?

I have a car, both me and by grandpa are on the title. As I cannot get loan on my own, my grandpa is my cosigner. My grandpa is almost 90, and chances are he may not be around till the loan is paid ...
JWea417's user avatar
  • 613
4 votes
1 answer
121 views

How should I leave money to a minor?

I'm single and have no children of my own. I'm contemplating leaving a little bit of money that I currently have set aside to my cousins kids (3 of them). I'm talking about less than 20,000 split ...
Justin808's user avatar
  • 163
5 votes
1 answer
67 views

Designating Beneficiaries

I have several accounts 401k, Roth IRA, etc. at a variety of different financial institutions (Fidelity, Vanguard, local Credit Union, etc). I want to set up my beneficiaries like the following: I ...
tbenz9's user avatar
  • 251
3 votes
1 answer
316 views

Italian mother-in-law died but also had UK Bank account - bank wants UK Probate to move money

My mother-in-law was Italian citizen and lived in Italy (with Italian husband), she died last week. The problem is she also had a UK bank account (which was opened years ago and registered to our UK ...
Recycled Steel's user avatar
1 vote
2 answers
184 views

Is Quit Deed all I need?

I would like to get the title of my late grandparents house out of his trust, and into my name (Grandson) and my uncle's(Son) name. Should I get a lawyer or is this really all I need. Its Illinois ...
Mark Monforti's user avatar
1 vote
2 answers
195 views

Can a father structure his estate's inheritance to his children & one son-in-law in set percentages?

In a will from father to 3 daughters (I don't have a son), I can make a will giving equal shares to my 3 daughters. But, one of my son-in-law is giving me 50% of the total cost of the flat to ...
user13051's user avatar
2 votes
1 answer
76 views

Who Can I Hire To Calculate the Value of An Estate?

My grandfather in Russia recently died, and he was very private about the state of his finances and did not leave a will. Because of that, nobody, not even his son, really knows what he's worth. He ...
John Roberts's user avatar
7 votes
1 answer
273 views

Am I required to have a lawyer create / oversee creation of my will?

While specific to my current state of residence (Kentucky), I'm wondering in the general case for the US. Am I required to have a lawyer create / oversee writing my and my wife's wills? What do I ...
warren's user avatar
  • 3,229
4 votes
3 answers
3k views

Is it more tax advantageous to add an owner to a car in the event of a death, over inheriting?

Trying due diligence with updating my will and all that. (What do you get when you mix byzantine loophole-laws with contemplating your own death? A barrel of fun, that's what.) Question one of one ...
HostileFork says dont trust SE's user avatar
1 vote
1 answer
333 views

"Revocable Living Trust Agreement" without a lawyer?

As with the question on a will without an attorney, I'm wondering how well it would work to draw up a "Revocable Living Trust Agreement" without a lawyer. If it varies hugely by state, my specific ...
nealmcb's user avatar
  • 220
8 votes
3 answers
2k views

How should minor children be listed as IRA beneficiaries?

I've heard conflicting information on how minor children should be listed as beneficiaries of an IRA. (And perhaps for life insurance.) This is where there is a testamentary trust to provide for the ...
bstpierre's user avatar
  • 10k
6 votes
3 answers
8k views

What are my options if I don't have a relative who can be the executor of my will?

My wife and I have a new child and we're meeting with an attorney this week to draft a will. After doing some initial research, there are a few issues that make our situation a bit complicated: We ...
Finch's user avatar
  • 265
4 votes
2 answers
339 views

Executor of my will

I am drawing up my will. My lawyer wishes to know who I would like to name as executor (or personal representative, as they appear to be known in Canada). Can I name a person who already stands to ...
ChrisInEdmonton's user avatar
10 votes
4 answers
3k views

Will says "divide estate equally". Life insurance has one named beneficiary. Can proceeds be made estate property?

If a parent dies and leaves a will that divides the estate equally, but also leaves a life insurance plan that names only one child as a beneficiary, can the other siblings force the life insurance ...
sharon's user avatar
  • 101
19 votes
2 answers
616 views

Making a basic will without an attorney

I've been reading that wills for the "basic" scenario is pretty much a cut-and-paste at the attorney's office. Rather than spend the money with a lawyer (300-600USD) I thought I'd look into a DIY ...
Fixee's user avatar
  • 4,524
17 votes
1 answer
2k views

Should I set up a family trust?

I'm setting up a will in the near future and trying to decide if a trust is the right way to go. I'm in my thirties, married, and have two small children. Our assets consist of our home (mortgaged), ...
Matt Solnit's user avatar
6 votes
1 answer
346 views

Any reason not to use a trusted friend known to my family as a will/estate executor?

I am not married and have no children, which means the handling of my personal property and finances in the tragic event of my death is less cut and dry than if either of those existed. I am putting ...
Glorified Plumber's user avatar
8 votes
2 answers
596 views

Locating all the deceased's assets in the UK

Is there anyway, in the UK, for an executor of a will to locate all the deceased person's assets? Or, to put it another way, how can one be sure that all the deceased person's assets have been located?...
Derek Jennings's user avatar
8 votes
3 answers
2k views

If the beneficiary of a Will is implicated or convicted of the deceased murder, does the Will still stand?

Honestly, I don't consider this to be a valid concern to my own financial planning, but having had the thought, I just wondered whether there are automatic provisions in law to nullify or remove ...
Andrew's user avatar
  • 303
7 votes
3 answers
344 views

When should I start thinking about a will?

What would happen with my savings on a bank account and personal property in a case of death? I don't have a family, only a brother and separated parents. Do I need to think about a will?
serg's user avatar
  • 885