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My elderly Mother died in California and I am 3,000 miles away in Canada.
I have been researching how to handle this small estate. A property worth just under 100,000 K thus probably avoiding "hopefully" a probate. I have talked to her lawyer but he didn't give me much in the way of instructions. At this time today I am not holding the death certificates.
Some questions I have floating around in my mind is if I should not sell the property at this time as in the Inland Empire in Southern California has taken a beating. I think to rent it out would be a bother in the sense that I am 3,000 miles away and would need a property manager. I intend to stay in Canada.
There will be tax filing concerns too for U.S. I am a U.S. citizen but with Canada land immigrant status as again, I live in Canada. The Lawyer has suggested I could start looking for a broker and that I will have the California court do a property valuation.
Another issue is that my parent had annuities. Single payment premium and that as I understand it that ends when she dies. Money is a big issue with expenses that will be incurred and that have already started. I am broke and this is a big problem.
I need to get down there to pour over paperwork and whom was her accountant ect. I could get a neighbor of hers to go in and look in the filing cabinet. I may not be able to get down there for a month or so. Again, money problems on my end.
I am the only child and beneficiary. I have the will, POA which I think has exterminated with Mom's death. I am researching on the internet steps
to do the right thing but I am wondering if anyone has any advice concerning
what to do that I am clueless about. Maybe you have been through this. I know I have to go to court no matter what and the Lawyer has said he would help ( for a fee or fee's naturally) . I have taken care of other details like stopping mail. I understand that her car and annuities will not be included as assets for a probate if I got that right.
In general you go to probate court when there is no will or when the will is contested.
Wills and POAs are not the same thing. A POA can survive death if it is a durable POA. Read it to see what it says.
You don't need a property manager to rent property, you just need to screen your tenants very carefully. On your rental application, make them give you particulars regarding employment history, and previous addresses and landlord's names and phone numbers, then follow through and contact them.
In nearly every state you can search court records on-line for free by going to the county court's web-site to determine if they've been sued for debts. You can also check federal bankruptcy courts to see if they've filed bankruptcy any time in the last 10 years.
Once you select a tenant, set up a bank account and have the tenant deposit the rent directly into the count via cash or check. Then you can go on-line to see when the tenant made the deposits (ie paid the rent).
You can contract with a maintenance company on an as needed basis to fix plumbing or electrical problems.
A word of advice, no matter what, never let a tenant know that you're an absentee landlord. You can get an answering service for practically nothing to take calls for you so the tenant never has to know you live 3,000 miles away
Your lawyer sucks. There are no tax filing concerns. If you derive income from rent, you'll need to pay state taxes, and you'll have to pay taxes to either the US or Canadian government. It isn't complicated, although you might want to take advantage of a tax preparer.
Lol, Thanks Mircea for your imput. So my Lawyer sucks, hunh? I guess he is close to retiring and is just not too interested. I may go w/ another one. My POA did say it ends when Mom dies. Good advice if I rent out. I just don't want to wake up in ten years in at the age of 61 and lament a chance I had for some financial security if I can just try and do the right thing/things. No one will contest the will. I would prefer no probate. Again,
Thanks.
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