estate question about cd's and pod's

[SuzyQ2]

What is the name of your state? OHIO

My grandmother just passed away. My mom had power of attorney for her but 2 months ago had the power of attorney changed to my uncle because my mother found out she has cancer and is doing chemo (not feeling well too). Well my mom thought the will was changed to make my uncle the executor too but they only switched the power of attorney. The original will from 2001 has my mom the executor and my aunt listed next if my mom is unable.

Here go the questions: Am I correct in that my uncle's power of attorney
papers are no longer good since my grandmother has passed?

Am I correct that my mother is still legally the executor since that is what the original will states?


My grandmother had her bank accounts all paid upon death to her 3 children.
Do they just need to take the death certificate to the bank and have all three present?

Also, my grandmother had money in CD's. Do they turn those in the same way or are taxes paid from them?

My grandma's house is paid for but only in her name. My uncle wants to buy the house. Does the house have to go through probate since no one's name is on the deed but my grandma's?

When you hire a lawyer to do probate, what assets are figured into the estate for them to take their % from? Do IRA's , Cd's , and bank account amounts go into the estate total since they have beneficiaries listed?

I know I have a lot of questions but my grandma worked very hard to avoid
probate and the lawyer fees.

Thank you for your time and assistance & advice!

 

[I AM ALWAYS LIABLE]

What is the name of your state? OHIO

My grandmother just passed away. My mom had power of attorney for her but 2 months ago had the power of attorney changed to my uncle because my mother found out she has cancer and is doing chemo (not feeling well too). Well my mom thought the will was changed to make my uncle the executor too but they only switched the power of attorney. The original will from 2001 has my mom the executor and my aunt listed next if my mom is unable.

Here go the questions:



Am I correct in that my uncle's power of attorney papers are no longer good since my grandmother has passed?

MY RESPONSE: You are correct. A "Power of Attorney" dies right along with the person for whose benefit it was written. In short, it's void.




Am I correct that my mother is still legally the executor since that is what the original will states?

MY RESPONSE: While the Will "wants" her to be the Executor, she's not the Executor until the Probate court judge affirms her appointment. If she's not willing, or is unable, to perform her duties as the Executor, she can let the court know that she doesn't want to be appointed, and then your Aunt, if she wants it, will be appointed.




My grandmother had her bank accounts all paid upon death to her 3 children.
Do they just need to take the death certificate to the bank and have all three present?

MY RESPONSE: That's correct. The money does NOT go through Probate because of the "Payable on Death" terms and conditions of the account. Just show the bank a "Certified copy" (not just a regular copy) of the Death Certificate, and the money goes to the 3 children.




Also, my grandmother had money in CD's. Do they turn those in the same way or are taxes paid from them?

MY RESPONSE: Depending on the contract terms with the bank, will determine whether taxes are taken out at the time of withdrawal, or whether it will be the responsibility of each of the 3 children - - again, presuming these are also POD accounts.




My grandma's house is paid for but only in her name. My uncle wants to buy the house. Does the house have to go through probate since no one's name is on the deed but my grandma's?

MY RESPONSE: Yes. The court needs to grant orders allowing the Deed to be changed, and to allow the Estate Executor, or Administrator of the Estate, to sell the house. Right now, without Probate orders, the house cannot be sold. It must pass through the Probate process.




When you hire a lawyer to do probate, what assets are figured into the estate for them to take their % from? Do IRA's , Cd's , and bank account amounts go into the estate total since they have beneficiaries listed?

MY RESPONSE: All "Real Estate" and "Personal Property" that is solely in the name of the decedent; e.g., the house, furnishings, bank accounts (that have no POD), vehicles, etc.




I know I have a lot of questions but my grandma worked very hard to avoid
probate and the lawyer fees.

MY RESPONSE: Perhaps she should have planned her Estate a little better by placing all of her worldly possessions and money in a Trust. That way, she could have avoided Probate, attorney's fees, and any taxes that might be due. But, she didn't (with the exception of the POD accounts) and now everything that's in her name is subject to Probate.


Good luck to all of you.

IAAL