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Questions tagged [will]

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3
votes
1answer
114 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 ...
1
vote
1answer
86 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 ...
3
votes
1answer
164 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 ...
0
votes
3answers
945 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. ...
3
votes
1answer
222 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 ...
6
votes
2answers
167 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 ...
4
votes
1answer
83 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 ...
10
votes
3answers
360 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, ...
6
votes
2answers
157 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 ...
1
vote
3answers
620 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 ...
5
votes
1answer
212 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 ...
3
votes
4answers
248 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-...
1
vote
3answers
204 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 ...
2
votes
1answer
181 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 ...
71
votes
9answers
29k 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 ...
4
votes
1answer
106 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 ...
5
votes
1answer
55 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 ...
3
votes
1answer
253 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 ...
1
vote
2answers
157 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 ...
1
vote
2answers
165 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 ...
2
votes
1answer
56 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 ...
7
votes
1answer
235 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 ...
4
votes
3answers
2k 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 ...
1
vote
1answer
272 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 ...
7
votes
3answers
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 ...
6
votes
3answers
7k 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 ...
4
votes
2answers
248 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 ...
10
votes
4answers
2k 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 ...
16
votes
2answers
368 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 ...
17
votes
1answer
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), ...
4
votes
1answer
195 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 ...
8
votes
2answers
273 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?...
8
votes
3answers
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 ...
7
votes
3answers
171 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?