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Power of Attorney for Estate

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R

RickC

Guest
California
My cousin was incarcerated last week for homicide and will probably be in jail for several years. He has asked me to accept power-of-attorney for his estate, which includes a home valued at $280,000. His mortgage balance is currently $170,000. Prior to incarceration he was paying child support for two pre-teen children by his ex-wife, who relinguished her interest in his home and assets. He trusts his ex-wife and her new husband. As power-of-attorney, I am considering quick deeding his property to his ex-wife in lieu of future child support. I am making this decision so that he will qualify for a Public Defender and so that he won't lose his assets to the victim's family (lawsuit) or the prosecuter (court costs). What do you think of this idea? What type of attorney should I consult with and what questions should I ask or be prepared to answer? Can you offer any other alternative suggestions? Thank you.
 


I AM ALWAYS LIABLE

Senior Member
RickC said:
California
My cousin was incarcerated last week for homicide and will probably be in jail for several years. He has asked me to accept power-of-attorney for his estate, which includes a home valued at $280,000. His mortgage balance is currently $170,000. Prior to incarceration he was paying child support for two pre-teen children by his ex-wife, who relinguished her interest in his home and assets. He trusts his ex-wife and her new husband. As power-of-attorney, I am considering quick deeding his property to his ex-wife in lieu of future child support. I am making this decision so that he will qualify for a Public Defender and so that he won't lose his assets to the victim's family (lawsuit) or the prosecuter (court costs). What do you think of this idea? What type of attorney should I consult with and what questions should I ask or be prepared to answer? Can you offer any other alternative suggestions? Thank you.

My response:

It won't work. Any transfers of property within 3 years of his crime, when there's a possibility of a Civil lawsuit, will be reversed being deemed a "fraudulent transfer."

There's nothing that can be done.

IAAL
 
R

RickC

Guest
Thanks but...

Thanks for the quick reply, but what am I supposed to do, let the property go into foreclosure? I've found that he owes about $7,000 in back taxes also. I'm seeing a probate/estate lawyer tomorrow and I had hoped for more feedback before our meeting. Any other advise is greatly appreciated.
 

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