What is the name of your state?What is the name of your state?What is the name of your state? = CA, Los Angeles County, Los Angeles City, Community of Encino.
Mother-in-Law, "MIL"
brother-in-law, "BIL"
Questions are preceeded with "Q:"
I appreciate in-line comments, TIA.
Q: Who pays the condo fees during the several months of probate?
Q: Can I continue to pay any remaining bills, property taxes, HOA fees etc from her checking account just like when she was alive?
Q: Can I continue to transfer money from my MIL's equity line to pay for my BIL's living expenses?
Q: Can my BIL continue to live in the condo and can I continue to pay for his housing expenses from his mother's account?
Q: I have made a few transfers into the joint checking account from the equity line, post death to ensure that we have enough money to pay for the condo HOA fees and property taxes for my MIL's real property. Is this bad?
Q: Ouside of a few nick-nack's the only item of value is a condo, a checking account with 6k AToD, that I've added another $20K to from the equity line, considering the previous question, as long as this money pays for the estate's expenses, what liability for spending this money, do my wife and I have?
Details:
After a 10 year battle with Parkinson's, my MIL passed away this week; her Will is not available, however a copy stipulates that her estate be divided equally between my wife and her brother.
Yes, we took her to a downtown LA Lawyer about 7 years ago, $500/hr for free as a favor from a family friend, my MIL declined to setup a trust, it was too expensive, $3,500. About 4 years ago we took her to a geriatric law attorney, who suggested a trust, she declined, saying the $1,700 fee was too much, we took her to a friend of the family who had taken over the practice of her cousin, she declined the trust saying it was too expensive.
My wife had(s) a Power-of-Attny (PoA), and a joint checking account with her mother, bound to her mother's equity line that we used to transfer money into the checking account to pay my MIL's bills.
My wife is not a signer on the equity line, but we do have access to the account, on-line to make transfers on her behalf, however this is all in question now that the PoA died along with my MIL.
My MIL has entrusted my wife and myself to do her banking and has asked us to watch over her son, however that is a job that we never agreed to.
My brother-in-law (BIL) (46 years old) lives in the condo but has no way of rent to cover the HOA fees.
Thanks.
JeffP....
Mother-in-Law, "MIL"
brother-in-law, "BIL"
Questions are preceeded with "Q:"
I appreciate in-line comments, TIA.
Q: Who pays the condo fees during the several months of probate?
Q: Can I continue to pay any remaining bills, property taxes, HOA fees etc from her checking account just like when she was alive?
Q: Can I continue to transfer money from my MIL's equity line to pay for my BIL's living expenses?
Q: Can my BIL continue to live in the condo and can I continue to pay for his housing expenses from his mother's account?
Q: I have made a few transfers into the joint checking account from the equity line, post death to ensure that we have enough money to pay for the condo HOA fees and property taxes for my MIL's real property. Is this bad?
Q: Ouside of a few nick-nack's the only item of value is a condo, a checking account with 6k AToD, that I've added another $20K to from the equity line, considering the previous question, as long as this money pays for the estate's expenses, what liability for spending this money, do my wife and I have?
Details:
After a 10 year battle with Parkinson's, my MIL passed away this week; her Will is not available, however a copy stipulates that her estate be divided equally between my wife and her brother.
Yes, we took her to a downtown LA Lawyer about 7 years ago, $500/hr for free as a favor from a family friend, my MIL declined to setup a trust, it was too expensive, $3,500. About 4 years ago we took her to a geriatric law attorney, who suggested a trust, she declined, saying the $1,700 fee was too much, we took her to a friend of the family who had taken over the practice of her cousin, she declined the trust saying it was too expensive.
My wife had(s) a Power-of-Attny (PoA), and a joint checking account with her mother, bound to her mother's equity line that we used to transfer money into the checking account to pay my MIL's bills.
My wife is not a signer on the equity line, but we do have access to the account, on-line to make transfers on her behalf, however this is all in question now that the PoA died along with my MIL.
My MIL has entrusted my wife and myself to do her banking and has asked us to watch over her son, however that is a job that we never agreed to.
My brother-in-law (BIL) (46 years old) lives in the condo but has no way of rent to cover the HOA fees.
Thanks.
JeffP....