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we had a trust deemed defective by the court ….since it involved a business the court had
he advised us to reach an out of court settlement with them before he ruled ….
he said he understood the intent was for those step kids to get nothing but the court cannot rewrite history or missing words .
so we did and it took a few hundred thousand dollars and a year to settle.
legal fees were 100k by themselves , all because of a sentence missing in the trust.
it shows the importance of having a specialist draw up these documents and not some general practitioner as an attorney friend of the family did their paperwork but he was not an estate attorney.
In my experience, my medieval-torture experience, a "specialist" and a dollar will get you a cup of coffee at McDonalds. I'm not being blithe. Much, much more important than specialists is the level of animus of the warring parties, with what Seinfeld would call those with "hand" always walking away the victor. I wouldn't be reduced to posting on anonymous forums about what to do when one lacks an executor if this hadn't been my "lot." The great clean feeling is that one never took advantage of thieves but let them instead take advantage of you.
Very sorry for this heated response, but your experience did what the kids would call "triggered" some probate hell for me.
Checking your bank was a good idea. They also probably have a trust department and you will could leave everything to your trust (poor over will). That may solve your problems.
Thank you for taking the time to reply. My hahahaha estate wouldn't be worth their time.
Your bank accounts can definitely have a "Payable on Death" beneficiary. As can other financial accounts. You can also have a lawyer create a trust for your house,
Excellent . Believe it or not, the bank officer failed to mention this. If I can do this, vee-o-la! Problem solved.
In my experience, my medieval-torture experience, a "specialist" and a dollar will get you a cup of coffee at McDonalds. I'm not being blithe. Much, much more important than specialists is the level of animus of the warring parties, with what Seinfeld would call those with "hand" always walking away the victor. I wouldn't be reduced to posting on anonymous forums about what to do when one lacks an executor if this hadn't been my "lot." The great clean feeling is that one never took advantage of thieves but let them instead take advantage of you.
Very sorry for this heated response, but your experience did what the kids would call "triggered" some probate hell for me.
Pax
if the paperwork is deemed defective you dont have a snow balls chance in hell ….
good paperwork can make for very short litigation or none at all possible.
if not for the over looked verbege there never would have been a case.
when we went looking for an estate attorney for ourselves i put them to the test .
i had them look over the documents from that problem .
it took him about 15 seconds to say there was no predeceasing spelled out
You can designate a beneficiary for any financial account and avoid probate. Bank accounts. Brokerage accounts. Retirement accounts. Where I live, you have to use trusts to keep real estate and real assets like cars and boats away from probate. If you die with no will and you don’t have your house in a trust, some judge in probate court will decide who gets your house.
This varies from state to state.
In Missouri, anything with a title (cars, boats, trailers, etc) can have a Pay On Death beneficiary right on the title. Real estate can have a beneficiary deed - a one page document recorded at the courthouse that kicks in only after the last owner dies. No need for trusts.
I’m getting to a stage in my life where it looks as if the person I named as executor will predecease me. I have no debt, have final arrangements taken care of, and (maybe obviously) have no dependents. I have no pets. If I choose not to go to a lawyer and, like, just kick the bucket with affairs as described here, what will happen to my very small estate?
Thank you.
I'm on my way out. You really should put everything in a large envelope to leave out in your house where it will be found, so authorities or court appointed person can easily find it.
You do not want to end up being buried in a potters field because they can't find what you made plans for.
Maybe consider making an emergency contact in your cell phone that will detail who to call and where that envelope is in your home.
On my android, there is a section for emergency related information in case I'm found knocked out.
I'm on my way out. You really should put everything in a large envelope to leave out in your house where it will be found, so authorities or court appointed person can easily find it.
You do not want to end up being buried in a potters field because they can't find what you made plans for.
Maybe consider making an emergency contact in your cell phone that will detail who to call and where that envelope is in your home.
On my android, there is a section for emergency related information in case I'm found knocked out.
Yes, ma’am, I commented to the effect (down-thread) that my Will is in a prominent vase. It’s part of what I call a “Foot on a Banana Peel” ambiance
Chances are your assets might go a nursing home to take care of you down the road.
Very true. The government will take everything from us when we need a nursing home but can't pay for one. I'm not saying that's a bad thing. I'm only stating the reality of it. The only money the government can't take is money they don't know about. There really is something to be said for stuffing some money in a mattress.
I'm on my way out. You really should put everything in a large envelope to leave out in your house where it will be found, so authorities or court appointed person can easily find it.
You do not want to end up being buried in a potters field because they can't find what you made plans for.
Maybe consider making an emergency contact in your cell phone that will detail who to call and where that envelope is in your home.
On my android, there is a section for emergency related information in case I'm found knocked out.
What's wrong with that, really?
I honestly couldn't care what happens to my remains when I die. Does anyone else feel the same way?
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