What is the name of your state? New Jersey
I'm going to describe my situation, sit back & let you tell me whether I will need an attorney or not & if you could tell me why plus I have some other questions.
My parents have a small estate, under 675K, the current threshhold for estate tax in this state. They had their wills drawn by a competent local attorney years ago (before I moved in with them coming from another state), when they were both young enough, in good health, & no one could claim it was done under duress. In their wills they name me executor & sole beneficiary in the event they predecease me. As it were I came to live with them after my mother's illness prompted me to do so. She recovered & we spent many wonderful years together, I helping out, getting the medicines, taking them to doctors visits, etc, while working. A couple of years ago, mom died, & we probated the will, although I don't know why, ( can you tell me if it was necessary?) The probate process here was very simple, everything was transferred from both parents names to my dads, & I helped him change all his accounts, including banks, mutual fund, stocks, savings bonds, IRAs, annuities, etc from both names to his with myself being named TOD, POD, & beneficiary of all accounts.
Once my bothers & sisters got wind of this they began asking pop for money but he refused & now nobody's talking to one another, what a surprise.
In my father's will, if I should predecease my siblings, then they would split the estate, so they are specifically mentioned. But if dad goes before me I am named executor & sole beneficiary & the lawyer who drew up the will said, they could try but they wouldn't get anything. Now I ask you these questions:
Would I need a lawyerif my father dies before me & this scenario went to court or could I represent myself, would I get overwhelmed even though things are so clearly spelled out?
Do I need to or am I required to probate the will ? The accounts are to be transferred to me anyway as I spelled out above.
I've read that judges & lawyers can get together & completely alter what's clear in the will. if that were the case than what's the point in having a will & maybe I should stay away from probate?
Can they find out a will was made for dad simply by knowing one was probated years ago for mom? Did we need to probate mom's will?
If the will's not worth the paper it's printed on, the system being what it is, then why go through the probate process or have a will?
Should I tell dad to take the money out & hide everything?
Should I have dad add something now to the will, a codicile to make things even more clear? I personally don't think that's a good idea cause someone might conclude this was done under duress, when he was much older & I was living with him. It could possibly make things worse. What do you think?
What do you think of this whole scenario?
If you have any questions to make this more clear, please answer as many questions as possible & then I'll answer yours. Thanks folks!
I'm going to describe my situation, sit back & let you tell me whether I will need an attorney or not & if you could tell me why plus I have some other questions.
My parents have a small estate, under 675K, the current threshhold for estate tax in this state. They had their wills drawn by a competent local attorney years ago (before I moved in with them coming from another state), when they were both young enough, in good health, & no one could claim it was done under duress. In their wills they name me executor & sole beneficiary in the event they predecease me. As it were I came to live with them after my mother's illness prompted me to do so. She recovered & we spent many wonderful years together, I helping out, getting the medicines, taking them to doctors visits, etc, while working. A couple of years ago, mom died, & we probated the will, although I don't know why, ( can you tell me if it was necessary?) The probate process here was very simple, everything was transferred from both parents names to my dads, & I helped him change all his accounts, including banks, mutual fund, stocks, savings bonds, IRAs, annuities, etc from both names to his with myself being named TOD, POD, & beneficiary of all accounts.
Once my bothers & sisters got wind of this they began asking pop for money but he refused & now nobody's talking to one another, what a surprise.
In my father's will, if I should predecease my siblings, then they would split the estate, so they are specifically mentioned. But if dad goes before me I am named executor & sole beneficiary & the lawyer who drew up the will said, they could try but they wouldn't get anything. Now I ask you these questions:
Would I need a lawyerif my father dies before me & this scenario went to court or could I represent myself, would I get overwhelmed even though things are so clearly spelled out?
Do I need to or am I required to probate the will ? The accounts are to be transferred to me anyway as I spelled out above.
I've read that judges & lawyers can get together & completely alter what's clear in the will. if that were the case than what's the point in having a will & maybe I should stay away from probate?
Can they find out a will was made for dad simply by knowing one was probated years ago for mom? Did we need to probate mom's will?
If the will's not worth the paper it's printed on, the system being what it is, then why go through the probate process or have a will?
Should I tell dad to take the money out & hide everything?
Should I have dad add something now to the will, a codicile to make things even more clear? I personally don't think that's a good idea cause someone might conclude this was done under duress, when he was much older & I was living with him. It could possibly make things worse. What do you think?
What do you think of this whole scenario?
If you have any questions to make this more clear, please answer as many questions as possible & then I'll answer yours. Thanks folks!