Probate

When someone is made executor should there not be some bookkeeping records provide to the others named in the will?

ADDITIONAL INFORMATION: Brother is executor. All was to be divided equally, only the executor knows the full amount in the estate, there have been some shady purchases. Has caused a divide in the family, feel there should be some accountability for the executor to be sure they are following the requirements of the will. Bank statements list of expenses. ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: Personal representatives are required to file an inventory within 3 months

Can you make a trust trump a will

ADDITIONAL INFORMATION: My Grandfather died leaving money and assets to my father who was alive when my grandfather died, now my grnadmother still lived but went behind my fathers back and made a trust to kick him out of the will and had thier attorney never settle the will after my grandfather died and now doesnt want to give my father anything. they told us she made the trust to trump the will can they do

What can we do about a discrepancy between a verbal agreement and the wording in a will?

ADDITIONAL INFORMATION: My husband’s mother asked us to move to her property to take care of it after she remarried when her husband died. She would then give the house and five acres to us in her will. She gave money to her oldest son and said she would take an equal amount off what the youngest son owed on a loan. Their mom has passed away. The will states the house and acres go to

My mother died so I was appointed the PR over the estate when I did the deed of distribution I did it in all Four heirs name

ADDITIONAL INFORMATION: My brother has been told he has cancer so it was to my understanding that the estate would be left to the other three to keep things straight ; then after his sickness 2 heirs had words leaving their share to the youngest of their gran children is this possible ? ATTORNEY ANSWER BY MARGARET L. CROSS BELIVEAU: As personal representative, it is your responsibility to distribute the estate assets according to the terms

Tax consequences of foreclosure and capital gains.

ADDITIONAL INFORMATION: My mom passed away in September 2014. Her mortgage co filed foreclosure a month later. $74,000 was owed on the original debt, but unpaid taxes and fees made it closer to $104,000. Property sold for a profit in June 2016 and her estate received a check for $10,000. Mortgage co reported original debt of $74,000 and sale price of $114,00, meaning it looks as though her estate earned $40,000 instead of the $10,000 received.

How do I decline my inheritance?

ADDITIONAL INFORMATION: I do not want to accept any inheritance that my parents may leave me. Can I just write a letter and have it notarized or is there some type of legal form/letter that I need to fill out? ATTORNEY ANSWER BY MARGARET L. CROSS BELIVEAU: To decline a gift or inheritance, you need to execute a disclaimer. In order for the disclaimer not to have any effect on you for estate or gift tax

Does a beneficiary of an IRA payable upon death amount satisfies an amount designated to be left from an estate in a will?

ADDITIONAL INFORMATION: In Massachusetts, My dad left his IRA payable upon death to my brother and myself 50/50. His will states $50,000 for each of us. His IRA is not in the will. His cousin gets what’s left over from estate. Does the fact he left us money in his IRA satisfies the will’s listed amount or is that from the sale of his house? The financial advisor says the IRA is a contract and has

Is it necessary to have a will if you have beneficiaries on everything?

ADDITIONAL INFORMATION: Beneficiaries are on everything. ATTORNEY ANSWER BY MARGARET L. CROSS BELIVEAU: Assets with beneficiary designations typically avoid probate. Occasionally things go awry if a beneficiary predeceases you and alternates are not named. The account could end up going to a person you don’t want, a minor, or the deceased person’s probate estate. Owning property jointly with another is risky because the joint owner has total access to the account. This means that the joint

How should I disperse savings of a deceased sibling of whom I was the guardian

ADDITIONAL INFORMATION: My brother passed away recently I was his Guardian he has money in the bank with my name as representative what should I do with the money he told me to split it up amongst the siblings and Dad can I do this legally ATTORNEY ANSWER BY MARGARET L. CROSS BELIVEAU: Your representative payee and guardian status ended upon your brother’s death. The bank account will need to be probated. The assets will be

If a house is forclosed by the bank during probate is the PR and others named in the Will be liable or responsible for any unpaid

ADDITIONAL INFORMATION: I am the PR or executor of my mothers will. I entered into probate as there is a house to consider in the mix. I am no longer able to make payments and thought I would have time before forclosure but did not. Will I and my siblings be liable for any part of the unpaid mortgage? will it affect our credit? ATTORNEY ANSWER BY MARGARET L. CROSS BELIVEAU: Only the estate is responsible

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