What is the name of your state (only U.S. law)? CT.
This is in Connecticut. My mom passed away in December. She left a will. She had investments that were sold in January and given to the 3 beneficiaries (myself, brother and niece). We were told that doesn't need to go through Probate as she left beneficiaries.
She also left a house, also to be divided amongst us. My niece would like to buy the house, but we are getting conflicting advice as to whether we can sell it to her now or whether it has to go through Probate. She would essentially buy my brother and I out of our share of the house. We will be selling it to her a bit lower than market value. Maybe someone could make this clearer to us. Because she left the house (free and clear) to us, beneficiaries, does it need to go through Probate? (of course I'd really like to know why we get conflicting information! ). We are trying to get the Probate forms together and are wondering if we should hire an Attorney (who only basic has said so far how much she charges for Probate and per hour. I'm not getting a good warm feeling over that
Her estate is so simple:
1) leaving investments with beneficiaries named.
2) a car - which my brother will take (no loan or anything)
3) a house which has a small equity loan on it - beneficiaries listed in her will like above.
4) a College fund for a grandchild - a state run program, I believe - beneficiary listed.
I don't see why we get conflicting information.
Is this really so simple we are just seemingly making it more difficult (none of us speak 'legalese') - and I've been on many Probate sites for the state of CT. and asking questions.
As for her household bills - we are paying them. Small balances on a few credit cards - we have closed them and are paying them. The equity loan (house value over $150K and loan of 20K) will be paid until selling the house. Does the equity loan factor into being able to sell the house now *or* after Probate?
We would really like to sell the house to my niece now , but would really appreciate some insight before actually filling out the paperwork, going to Probate, etc. It seems it would be either 'yes you can' or 'no you can't until Probate is done. It confuses us that so far we've been told conflicting things.
Thank you for your time in reading this:
Issy
This is in Connecticut. My mom passed away in December. She left a will. She had investments that were sold in January and given to the 3 beneficiaries (myself, brother and niece). We were told that doesn't need to go through Probate as she left beneficiaries.
She also left a house, also to be divided amongst us. My niece would like to buy the house, but we are getting conflicting advice as to whether we can sell it to her now or whether it has to go through Probate. She would essentially buy my brother and I out of our share of the house. We will be selling it to her a bit lower than market value. Maybe someone could make this clearer to us. Because she left the house (free and clear) to us, beneficiaries, does it need to go through Probate? (of course I'd really like to know why we get conflicting information! ). We are trying to get the Probate forms together and are wondering if we should hire an Attorney (who only basic has said so far how much she charges for Probate and per hour. I'm not getting a good warm feeling over that
Her estate is so simple:
1) leaving investments with beneficiaries named.
2) a car - which my brother will take (no loan or anything)
3) a house which has a small equity loan on it - beneficiaries listed in her will like above.
4) a College fund for a grandchild - a state run program, I believe - beneficiary listed.
I don't see why we get conflicting information.
Is this really so simple we are just seemingly making it more difficult (none of us speak 'legalese') - and I've been on many Probate sites for the state of CT. and asking questions.
As for her household bills - we are paying them. Small balances on a few credit cards - we have closed them and are paying them. The equity loan (house value over $150K and loan of 20K) will be paid until selling the house. Does the equity loan factor into being able to sell the house now *or* after Probate?
We would really like to sell the house to my niece now , but would really appreciate some insight before actually filling out the paperwork, going to Probate, etc. It seems it would be either 'yes you can' or 'no you can't until Probate is done. It confuses us that so far we've been told conflicting things.
Thank you for your time in reading this:
Issy