Questions & Answers

How do I find out if I was removed has beneficiary on my mother’s traditional IRA plan?

Did my sister remove me as a beneficiary from my mother’s traditional IRA plan in Florida right before my mom passed? Sis had POA over mom that would make my sis primary beneficiary. ANSWER BY MARGARET CROSS-BELIVEAU: If you call the company that is holding the funds and it won’t speak with you, then you aren’t the beneficiary. Your sister had a fiduciary duty to your mother to handle her assets in her best interest and

Would backdated pension payments be exempt from probate?

The pension company sent a letter stating that my relative’s estate is owed payments dating back to 2018. His only creditors are from the hospital stay prior to death. Do these funds need to be listed as an asset and go through probate? ANSWER BY MARGARET CROSS-BELIVEAU: Yes, the funds would go through probate. Follow us on Facebook Follow us on LinkedIn Legal Disclaimer: Please note that this answer does not constitute legal advice, and should

Dead relative no will but owned property?

A close relative of mines passed away. There was a property in their name. Unfortunately, my name wasn’t added to the deed before the person passed away. I am wondering if probate court would be simple since the person did not owe any debt, no kids, no spouse and nobody in the family wants anything to do with the property other than me so it will not be contested. ANSWER BY MARGARET CROSS-BELIVEAU: Probate is never

Do I have the same rights as my husband on life estate?

My husband died. His brother’s name on deed for life estate. Do I have the same rights? ANSWER BY MARGARET CROSS-BELIVEAU: A life estate grants the life tenant the right to live in the property for his lifetime. The other owner of the property is called the remainderman because he gets the remainder. Once the life tenant dies, the remainderman becomes a full owner of the property. If a remainderman owns the property in his own

Is it okay to name a revocable trust as beneficiary of a bank account if the bank does not allow trusts to own accounts?

Many online-only banks offer higher interest rates for online savings accounts but I found that most of these banks do not allow accounts to be owned by a trust. If I list my trust as beneficiary, is it just as good as having the trust own the account? ANSWER BY MARGARET CROSS-BELIVEAU: Naming the trust as a beneficiary is a way to fund the trust at your death, thus avoiding probate. There is one drawback. As

A lady my mom trusted, mom passed 2018, to date no payments. How do I get land back?

I just would like to get my land back now. No improvements, it’s basically abandoned. What can I do to get title into my name? ANSWER BY MARGARET CROSS-BELIVEAU: The debt owed to your mother is now owned by your mother’s estate. You will need to consult with a Florida litigation attorney. (I am assuming it was Florida land.) You may have to open a probate for your mother to file the lawsuit. Hopefully your mother

If 2 parties were named trustees of an irrevocable trust, do we apply for the EIN with 2 responsible parties?

My parents set up an irrevocable trust with my brother and I as Trustees. We have to open a trust bank account and therefore need to apply for and EIN to open the account. Does the application for EIN allow for designation of 2 trustee and both social security numbers? We only need the EIN and account to distribute a small life insurance policy which will be made the trust. The insurance check will be deposited

How do I find my father’s trust dated 1969 that is the beneficiary of a term life policy?

My father passed away recently. Most of his estate is under a trust that we know about. However, there is a term life policy he owned that has as its beneficiary a trust in my father’s name, under indenture, dated 1969. My mother and their current estate lawyer have no clue about this trust or even where to find the original policy contract. Is there any way to locate a copy of this trust somewhere online

Can we legally move any of my elderly terminally ill father’s money, before he has to start paying out of pocket for 24/7 care?

My dad never did a will, and never wanted to talk about it when brought up, but he wanted his money to go to his children. My brother’s name is on his accounts, so can any of that money be gifted to us, before the nursing home takes it all, and he’s flat broke within a few months, then has to file for Medicare? ANSWER BY MARGARET CROSS-BELIVEAU: You would be applying for Medicaid, not Medicare.

Can children of divorced parents trade quitclaim deeds on respective parent’s houses upon their death.

Both adult children are 50/50 beneficiaries of divorced parent’s houses. Both adult children are living in either the mom’s or dad’s house. The mom where my sis lives just died. Sis wants to stay there. The houses are the same in value. Can we trade our quick claims to the houses so she stays at mom’s old house and in the future I get my dad’s house free and clear? ANSWER BY MARGARET CROSS-BELIVEAU: As you

Florida

Massachusetts

New Hampshire

Beliveau Law Group