Posts Tagged ‘heirs’
Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values
Common Sense Approach Looks at Wealth Transition With Insight and Integrity
Are you concerned about the impact of wealth on your heirs? Are your heirs prepared for the responsibilities of wealth? In Preparing Heirs, Roy Williams and Vic Preisser disclose the surprising findings from their research into the legacies of 3,250 wealthy families. With extraordinary insight, they reveal what the relatively small number of successful families had in common?how they achieved and maintained family harmony, and ensured the smooth transition of their wealth to well-adjusted heirs. They also warn of the wide range of factors that cause the majority of wealthy families to fail in their transition.
Preparing Heirs offers clear, concise, well-organized, and easy-to-follow instructions that will enable you to evaluate your plan for transitioning family wealth. Used in conjunction with qualified professionals such as attorneys and accountants, this book can help you develop a plan to transmit the family values underlying the accumulation of wealth and prepare your heirs to be good stewards and thoughtful administrators of that wealth.
Price: $29.95
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Aunt's approx. $45,000 home. Do they need to probate will?
My wife’s aunt died and left my wife, her brother and her cousin sole heirs, ( by will), to her home and any incidentals. The home and everything probably are valued at approx. -50 thousand.
All they want to do is satisfy the tax debt and and recover our cost of upkeep for the house with the sale of home.
Everyone lives in Texas.
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Executor of Will — Cost of Probate — Foreclosure of deceased home?
I need some help. I am the Executrix/Executor of a family member’s Last Will and Testament. At the time of the decedents death, I was told that I had two years upon when I could probate. The cost was near ,500 (State of Texas) so I am told.
Due to financial set backs and the suffering economy I intermittently did and then again, did not have stable employment. I do not have the financial resources to probate the Will at this time and still have about 8 months before the two year deadline is in effect. I am now employed. Although I barely make ends-meet at this time, I do foresee that I will be able to save the probate cost by the time I must probate.
In the meanwhile, the bank upon which the mortgage is held is taking legal action against myself and the heirs — one of which is not even mentioned in the Will due to being estranged from the deceased for over 15 years. However, the bank has served them with papers stating that they (and I am) are being sued.
I really need some advice and guidance here. I most certainly want to do the right thing and get this Will probated. I’ve just had a very difficult time with income and employment for the last 14 plus months. The bank does need to recover its mortgage costs, however, I do not want the house in question — nor to I want to live in or rent out that property. The house is located in a town that I would NEVER live in.
What can I do to stop legal action against myself as well as the other two heirs listed in the suit. The Will stated that I am the recipient of familial heirlooms, etc. But, I am in no way affiliated with the mortgage.
Help?!?!?!
In order to sell the house, prior to foreclosure proceedings, I understood that I would have needed to put quite a bit of money back into the house to remodel etc to bring it up to sell’able and competitive standards. There are many houses in that particular neighborhood whose curb appeal, condition of property,etc were in better shape for a comparable price structure. I did not and do not have the funds to remodel the home to make this house compete with other houses in the same neighborhood and price range. Before the now deceased passed, I was told by the owner/deceased to "just let the house go back to the bank…." And, that’ is what I have tried to do. Now, the bank/mortgage holder is suing me….
I would be grateful for guidance here –
Not to be snarky….but please only reply if you have solutions because this is seemingly a serious situation I am in.
In advance, I thank all of those who go to the time and trouble to respond responsibly.
Thank you, Thank you, Thank you
Take care !!
…Be Well !!
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Need information on preparing our own will or living trust.?
Our house has been homesteaded. How does that affect our heirs? Is it legal for us to fill out our own wills or living trust forms if we get them notarized? Our estate is small. What other important information do we need to know before we do this? We’re trying to avoid paying an attorney’s fee.
When you probate a will, do you have to notify the heirs?
Last Jan 07 my wife’s father-in-law died. We have been waiting for the will to be probated. We just found out today that the step mother-in-law had already probated the will back in June without letting the children know. The county clerk told us that there was a lot of other paper work filed. A motion to dismiss, a motion to reinstate, and something about a lost will. We also found out that she was the executor of the will. Can you be an executor of a will that you will benefit from? And can you probate a will without notifying the heirs?
When she pop her clogs as you put, wouldn’t she just put her own family in her will still leaving us out?
Sorry, I meant he is my father-in-law and her father. The house is not the problem. It is his business that had been the family business for 3 gen. She has taken it and sold the whole thing. His boys and his daughter got nothing. They didn’t want any money. Just his old hand tools and mementos of the business. All of that is gone now.
She did put a public notice in a newspaper. Only she put it in the paper in the town she lives in and we are on the other side of the state of Tx
When we got over to town the day after his death, the step-mother told us that he had just re-written a new will. But that he never got it filed so that they would have to use his old will that was filed in 2001. She said not to worry about it cause we would be happy with what we got. The step-mother grandson told me that he was the executor of the will and he had a copy and his lawyer had a copy on file. The next day the boys got into a fight over his personal handtools and she kicked them out saying that she would be changing the will. Now 8 months later we find that the will has been probated, she was the executor and there was some kind of filing for a lost will. What lost will if there were two copies? Since the children were never notified this must mean that their names was not mentioned in the will. Even tho when we talked with the file clerk after the funeral she said that there were papers with the boys names mentioned on file.
This man loved all his children.
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Can a lawyer file a will in probate even if the waivers are not signed?
My mother and my uncle are contesting my grandfather’s will. The lawyer says he will go on and file the will after 10 days in probate with or without the waivers and state that the heirs who do not sign the waivers are being "uncooperative". My mother has a lawyer who she will show the papers to on Monday, but I was wondering, can the will be filed without the waivers? Should my mother go ahead and contest the will before the 10 days are up?