a real mess still going on in Ks.

[amberwave]

First let me say thanks to ans. my post a while back, but nothing has change as yet...but I am curious..my grandma died in 2000, as I said before my mom was executor...{ she passed away about 2 weeks from us getting this estate closed.} my aunt was named to take over in the will if any thing should happen to my mohter...its been almost 4 mo.s now since my mother passed away and he has yet to name my aunt to be grandmothers executor...I was named executor of my moms will...which had to do with what my grandmother will to my mom...which my "father " wants ...but was left to us kids. We cant do nothing until my aunt is swore in...and closes the estate...we have bills that have piled up for 5 mo. that have gone unpaid...and there is plenty of $ in the bank to pay them ...but no one to do it ...my ?s are these
#1. The estate is almost up to the 675k level...if waiting till after Jan. 02 to close ..will there be a different amount to go by instead of that 675k and WOULD it apply to this estate?
#2. There is over 250k in the bank ...all in one acc. shouldnt this be at least put in 3 acc. as to be lower than the ins. amount in case of bank going belly up or anything else happeing?
#3. My father was not in the will to share in the oil well...it was left to us 3 kids...but will he have to share in this? and for how long ...?

Thank you , for any help

 

[ALawyer]

Some quick answers:

The date of death determines the exclusion amount. If it was this year it is $675,000 and if 2002 $1 million.

As for baks failing, prudence suggests $100,000 per account is guaranteed, but if it is a major bank, many firms have far more on deposit.....
I don't have a clue on the well.

And ask your aunt what you can do to help and explain that you face a real problem.

 

[advisor10]

OCTOBER 11, 2001

DEAR AMBERWAVE:

You are somewhat confused--no one has to "name" your aunt to take over as executor--she has to go down to the county courthouse to file papers to be named executor by the court.

Is the grandmother who died (and who left the will) related on your father's side (is he her son or not) or on your mother's side (is she her daughter)? It's hard to decide whether or not he would be eligible to receive anything from the oil well/royalties without seeing the exact language of the will. If he is her son, there could be a small chance he might be eligible as an heir, but if he is her son-in-law there is not much of a chance he would be eligible since he was not named in the will.

The executor has authority to pay estate bills, so there is really no excuse for the bills going unpaid, except for the fact that you mentioned in your previous posting that the attorney executor is uncooperative and not performing his duties. Have you taken steps to fire him or replace him or are you too afraid to do that? If you were to complain to the local bar association about his poor conduct, that might get him to react. The longer you sit around and do nothing, the worse your situation will get.

SINCERELY,

[email protected]

 

[amberwave]

thank you so much for helping to both of you....

ans to your ?s ....no he was the son in law...he was not named any where in grandmas will....but he got a atty. ..." cause he only wants what was to be my mothers " ....which she {mom } also didnt leave to him....

grandmothers will states...per stripes ..." all of my royalty interests" to my daughter....so that should go to us...as were her stripes....?? and mom put in her will that too...it was to go to us...only...they even put this wording in mom 's will...." I have intentionally omitted my husband......---------....from taking anything under this will in that it is my intent to adequately provide for my spouse by way of jointly held property.." Which now the atty. says ...welll...he may get some ...it depends on how much his joint held propery is worth...and we may have to pay him off so to speak...as a husband can get half...of what she was to inherit....

the atty. is NOT the executor....he told us he would get right on getting my aunt " named" I should of said ...swore in....{as I have been for my moms}....before the judge....my aunt lives 5 hr.s away...but for some reason...he hasnt ...when I was swore in ..in the court house ..he told me this too...{this was 2 mos later}...as his reason was he didnt want my grandmothers estate to close while mom was passing and he didnt want the $ to go into my mom and "dad" acc. and have her pass on...then we have hell to pay if that monies was put in there joint acc.

one more ? about date of death and the 675k....so grandma died in Dec. of 2000....and if it goes by date of death...what would be the limit of the estate....we were thinking he may of been waiting till after Jan. when it is to go up to a million...but from what your saying that wont apply....? We havent done anything as were probally going to have to pay him if we fire him ....and he is makeing 4% on both estates....and then we go get another atty. there just chiping away at it...between him and my "dad"....I cant do anything I dont think as I am only a heir to my grandmothers estate....so ...what the heck can we do? There is no one in place to sign checks.......no one?

 

[advisor10]

OCTOBER 11, 2001



What good is this attorney if he is not paying the bills? You would be better off paying him his fee and getting another attorney to serve your interests.

Your real problem is not having an official executor. If your aunt can't or won't file the papers to be the executor because she lives too far away, then that would be another reason for you to hire an attorney to be executor so at least he would be more cooperative to helping you and your family's interest and at least you or your family could have some control about the estate affairs then.

The other attorney's excuses are bunk! (about not wanting the estate to close and "hell to pay" about monies being in a joint account) and he is only stalling you and misleading you so he can hang on to the estate.

As an heir of this estate, you (and the other heirs) are the primary people who have a right to decide what will be done.

Get rid of this attorney now or you are only asking for more heartache and delay. Face up to reality and ACT instead of hopelessly waiting for things to get better!

SINCERELY,

[email protected]