Do I need a lawyer?

[artbuc]

What is the name of your state? PA

This is a slightly different question so I will start a new thread.

I am executor of mother's simple will. All of her assets will flow directly to beneficiaries except for $40,000 cash account which has her estate listed as beneficiary. All of my siblings agree that I will distribute this money to them equally as called for in mother's will.

Do I need to hire a lawyer? Why can't I simply pay mother's funeral expenses out of this $40,000 and distribute the balance to my siblings? Does the will have to be recorded or are there other functions which must be performed by a lawyer?

 

[seniorjudge]

What is the name of your state? PA

This is a slightly different question so I will start a new thread.

I am executor of mother's simple will. All of her assets will flow directly to beneficiaries except for $40,000 cash account which has her estate listed as beneficiary. All of my siblings agree that I will distribute this money to them equally as called for in mother's will.

Do I need to hire a lawyer? Why can't I simply pay mother's funeral expenses out of this $40,000 and distribute the balance to my siblings? Does the will have to be recorded or are there other functions which must be performed by a lawyer?

double post

Keep all your questions in the original thread you started on this subject.

https://forum.freeadvice.com/showthread.php?t=349865

 

[Dandy Don]

Check at the county courthouse to see what qualifies as a smaller estate--there may be simplified procedures available.

You don't necessarily need to hire an attorney as executor--you can do it yourself and then as needed hire a probate attorney on an hourly basis for consultation only.

Probate is needed to have an official record of how the funds were handled and distributed to heirs as well as paying all outstanding debts, and the public notice of the probate is a way to notify any potential creditors, if there are any, to file a claim for payment.

DANDY DON IN OKLAHOMA ([email protected])

 

[seniorjudge]

double post

Keep all your questions in the original thread you started on this subject.

https://forum.freeadvice.com/showthread.php?t=349865

Discussed and answered in the thread above.

 

[DakotaJosh]

How can you ask this?

I have been reading all of the post from this person. I can't understand how she can ask these things when her mother is alive. Can't you even wait until she is in the ground or whatever her wishes are? This is distasteful and just wrong.

 

[garrula lingua]

You're right, DakotaJosh.

OP's attitude and questions are creepy.

 

[artbuc]

I have been reading all of the post from this person. I can't understand how she can ask these things when her mother is alive. Can't you even wait until she is in the ground or whatever her wishes are? This is distasteful and just wrong.

When my mother is dead it will be too late to change beneficiaries and/or do other things to minimize taxes. Yes, I should have doing these things years ago but, in my heart, I never admitted my mother would ever die with assets. I was quite sure she would need all of her funds for long term care. However, we put her under hospice care last year and expenses were reduced significantly. Also, her decline from Alzheimer's has been faster than we thought.

You think I am creepy? I tell you what is creepy. Changing your mother's diaper when she doesn't even know who you are. Or, asking the Medical Examiner for assurances that he will not disfigure your mother when he removes her brain & spinal cord for an autopsy. I pray you never find yourself in my position.

 

[garrula lingua]

I have full sympathy for anyone in that position - many of us have been there.
It's great to have something to absorb yourself, but ...

What a fantastic conincidence that your wife is a beneficiary on her aunt's estate and is upset the aunt's atty didn't answer some questions about that ...


....I'm very glad I'm not related to you; it would make me very nervous.

 

[artbuc]

I have full sympathy for anyone in that position - many of us have been there.
It's great to have something to absorb yourself, but ...

What a fantastic conincidence that your wife is a beneficiary on her aunt's estate and is upset the aunt's atty didn't answer some questions about that ...


....I'm very glad I'm not related to you; it would make me very nervous.

My wife's aunt never had any children. Her husband was my wife's father's only sibling. My wife was kind to her aunt but never had an especially close relationship with her and certainly never expected to be named in her will. When my wife's aunt's nephews began a legal proceeding to have their aunt deemed incompetent, the lawyer sent everyone named in her will a copy of aunt's will along with other related paperwork. This was the first time my wife knew she was in the will. My wife called the lawyer to find out what was going on. She did this out of concern, not greed. The lawyer assumed otherwise and treated her unkindly. I thought I would use this forum to get a better understanding of wife's aunt's will and to determine what, if anything my wife should be doing. Since you have done the research you know my primary question was related to the residuary estate. Since I knew nothing about this term or wills, etc in general, I was curious.

One of my main financial planning considerations is making sure I leave enough money to my wife. If my wife is going to inherit a substantial amount of money, this is important for me to know - not out of greed, but simply for good financial planning.

You are certainly free to think whatever you want about me. This forum is about wills, trusts, estate planning, etc. Many people post here because they have loved ones who are going to die someday and some questions have to be asked before they die. Asking these questions doesn't automatically make you creepy, greedy, uncaring buzzards circling the dying.

 

[DakotaJosh]

If you read all your post it's MONEY and TAXES.

You seem to be more worried about how to get out of paying taxes on what your poor mother is leaving behind than her.

I am sorry that you are facing the death of your mother, but she is not dead yet.
I have had to deal with a lot of the same thing. The names should have been done right the first time or not done at all. I see you wanting a way out of paying taxes, that’s your big question. To me that is cold and that would be the least of my worries if I was facing what you are. Someday we all face that, I just loss my dad in September. Now after the fact of dealing with the loss come the worries about debt and what to do with estate matters. I did not do this before he was cold. Estate planning is something everyone needs to think about and put it in writing what you want down to the last nickel. Maybe I am wrong but that is just the way I feel and everyone can have their opinion.