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

It looks to me like this is a 'call an attorney' situation, which is always a good idea in situations like this (family legal disputes). But, some information. First off, if your family is going to ...
Joe's user avatar
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84 votes

Looking after a wayward brother in mother's will

You do need a trust - but the fee is for professional trustees. If your mother appoints some people she trusts as unpaid trustees, then it's free. You are the obvious choice, but she will need some ...
Martin Bonner supports Monica's user avatar
27 votes

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

If you've been paying on the car for three years, it's possible that your credit is in a place where you don't need a co-signer any more. See if your bank will re-fi with you as the sole debtor. If ...
Xavier J's user avatar
  • 666
14 votes

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

You're driving a car worth about $6000 which has a $12,000 loan against it. You're driving around in a nett debt of $6000. The best thing your grandfather could do for you, if possible, is to take ...
SQB's user avatar
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9 votes

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

If no will was written, the Gesetzliche Erbfolge is followed. It has different orders of heirs. descendants parents and their descendants grandparents and their descendants … and so on The first ...
amon's user avatar
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9 votes

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

No. In the US inheritances are taxed through what is called "estate tax", and it is the estate that pays it. Since in this case the estate is foreign and (assuming) not under the US ...
littleadv's user avatar
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8 votes
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Will: Leaving property to beneficiaries until their deaths only

Your wish is to leave money to your brother to help him take care of your parents until they die with the condition that any balance of the money to be transferred to your wife or, if she is deceased, ...
Bob Baerker's user avatar
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7 votes
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How should one bequeath a large asset (e.g. real estate) in a way that will cause the least disagreements among multiple heirs

The first step is to talk to your heirs and fund out if they even want the large asset. If they don't want the asset, then it would be far better to leave instructions in your will for the asset to be ...
Eric Johnson's user avatar
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7 votes
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Would this inherited house have half-equity or simply a good deal?

Your cousin should be able to obtain a loan on favorable terms. The actual legal document that will be signed by your cousin's sibling is a quit claim deed. This is basically a form assigning sole ...
NL - Apologize to Monica's user avatar
7 votes
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What's the normal course of events when someone who owes on a mortgage dies?

I can answer this question for my jurisdiction (Florida, USA), because I lived through it. My Dad ("Alice") passed away in 2008, just as the housing crisis was starting to heat up. What happened to ...
Ogre Psalm33's user avatar
  • 1,517
7 votes

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

The house becomes an asset belonging to the estate of Alice. The debt also goes with the estate. The executor of the will should arrange for the debt to be paid off as part of sorting out the estate ...
Simon B's user avatar
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7 votes

Looking after a wayward brother in mother's will

When you say 'wayward' I assume he might have a drinking/gambling/addiction/loose women problem, and that any sum of money on his hands won't last long. One further possibility you might want to ...
Quora Feans's user avatar
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6 votes
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What happens to your assets if there is no heir?

The short version is that the state government claims the estate when no relatives can be found and no will/estate plan exists. How the government uses that varies by state. From Legal Zoom: ...
Hart CO's user avatar
  • 70.4k
6 votes

Looking after a wayward brother in mother's will

It looks like the United Kingdom has annuities. It might be possible to set up an escalating annuity with a provision that on the death of the beneficiary the principal would go to his heirs (...
Brythan's user avatar
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6 votes

Looking after a wayward brother in mother's will

The answer is a trust, but the kind you want is quite specific. You want to ask a solicitor to set up for you, what is called a protective trust. In the UK, that's a name given to a trust whose ...
Stilez's user avatar
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5 votes
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Is there a need for a Living Trust in my situation?

Everything depends on your local law. In general, joint assets are not a problem whereas sole ownership assets are. Depending on location, the size of the estate may determine the need for probate. ...
Bob Baerker's user avatar
  • 76.1k
5 votes

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

The reason a bank wants you to have 'equity' in your house (meaning, value that you hold free and clear, without anyone else being owed money for it) is that it makes it harder for you to ignore your ...
Grade 'Eh' Bacon's user avatar
5 votes

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

My grandmother passed away earlier this year. When I got my car 3 years ago, I did not have good enough credit to do it on my own or have her as a co-signer. We had arranged so that my grandmother was ...
Daerik's user avatar
  • 159
4 votes

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

I think Joe is right, it seems that you will get the car once grandpa passes. It clearly states that on the DMV page. I would work like crazy to get this car paid off ASAP. Work extra and see if ...
Pete B.'s user avatar
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4 votes

Legal right to ask for someone bank records UK

You might want to head on over to https://law.stackexchange.com/ and ask the same question. However from a personal finance perspective this kind of drama is somewhat common when someone is ...
Pete B.'s user avatar
  • 76.3k
4 votes

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

There are two different possible taxes based on various scenarios proposed by the OP or the lawyer who drew up the OP's father's will or the OP's mother. First, there is the estate tax which is ...
Dilip Sarwate's user avatar
4 votes

Can a will or trust have more than one executor?

Can we name both children as co-executors? Yes, you can name both children as co-executors. Can they be the witnesses? Maybe, in most states Witnesses must be not be beneficiaries of your estate ...
Hart CO's user avatar
  • 70.4k
4 votes
Accepted

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

The way it has been explained to me by estate planning attorneys is that wills in general don't keep anything from going through probate. Your will gives instructions to the probate court for how you ...
T. M.'s user avatar
  • 1,523
4 votes

Looking after a wayward brother in mother's will

A trust is what you need. However a trust which costs £50k/pa to manage is either ripping you off or for management of +£5 million in assets. I would suggest you start with an Accountant (not a ...
DarcyThomas's user avatar
4 votes

Looking after a wayward brother in mother's will

First, all due respect, if you're talking 2% returns and £50k/year for management, then you should recognize your own limitations: your own knowledge of money has its limits, and that is relevant ...
Harper - Reinstate Monica's user avatar
4 votes
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Do I need a will if beneficiaries are designated?

IRA Designation of Beneficiary: Most are written assuming that the beneficiaries of the IRA will outlive the owner. Will they? Will they all? Are there contingent beneficiaries designated? Are they ...
chili555's user avatar
  • 1,667
4 votes
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What happens to all my assets outside US if I die?

First question: Do I need to register this house in my tax return here in US? There is no "registration" of foreign property (whether real estate or stocks or anything else) on a US tax ...
Dilip Sarwate's user avatar
3 votes
Accepted

Can a will or trust have more than one executor?

Can we name both children as co-executors? Yes but that means that they both have to act together to make any decisions, which may sound good but there's often a lot of small decisions that have to ...
D Stanley's user avatar
  • 133k
3 votes

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

She is very wrong. If the IRA is a traditional, i.e. A pretax IRA (not a Roth), all withdrawals are subject to tax at one's marginal rate. Read that to mean that a large sum can easily push her into ...
JTP - Apologise to Monica's user avatar
3 votes

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

My family members, particularly my aunt (his daughter), are telling me that when my grandpa dies they are taking my car. Bring this up with Grandpa. If this is what he wants to have happen, then ...
Adam Davis's user avatar
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