Estates

It may not be advisable for a senile person to serve as a trustee because they may lack the mental capacity to effectively manage trust assets and make sound decisions. Trustees have fiduciary duties to act in the best interests of the trust beneficiaries, and a person with diminished mental capacity may not be able to fulfill these responsibilities.

The ownership of the joint accounts passes directly to the surviving spouse. Every person has the right to determine what will happen to his property upon his death. During his life this parent chose to hold those accounts jointly with his wife. They are now her sole property.

You should speak to another solicitor or at least find out what is taking so long. Perhaps your mother has been deemed incompetent. In that case a court would need to make an appointment of a guardian or conservator. A simple Power of Attorney can't be executed if she can't sign it.

Until you have legal authority you cannot sell the real estate because you don't own it. Your deed would be null and void.

The next of kin of a deceased person aged 62 when their mother is 92 would typically be their own children, if they have any. If the deceased has no children or if they have predeceased them, then it would likely be their siblings, nieces or nephews, or other close relatives. Ultimately, the designation of next of kin can vary depending on the specific circumstances and legal regulations in the jurisdiction.

Your father must consult with an attorney who can review the situation and determine what the options are and if your father has a strong enough case to pursue. Those types of cases can be expensive. Your father should discuss the cost before proceeding.

In order to execute a valid will a person must be competent to do so. Generally, to be deemed competent at the time of the execution of the will the testator must meet the following requirements:

Must know she is making a will

Must know the extent and value of her property

Must know the persons who would ordinarily be the beneficiaries of a will

Must understand the disposition to the beneficiaries of her will

The next of kin can be any adult family member designated by an individual as their emergency contact or decision-maker in case of incapacity or death. It is not necessarily based on age or birth order among children.

The age of majority in Wisconsin, like most states, is 18. Until that point the parents remain responsible for them until that age. If the minor is still covered by the parent's insurance, the parents will be held responsible.

Inheritance tax laws vary by country and state. In some jurisdictions, there may be exemptions or lower tax rates for inheritances passed down from grandparents to grandchildren. It's best to consult with a tax professional to determine the specific implications in your situation.

As trustee you are obligated to carry out the provisions of the trust. The trustor had the right to plan the disposition of their estate and they went to the trouble and expense of having a trust drafted to carry out their wishes. You cannot change the provisions of the trust unless the trust document gives that authority to you. You should consult with an attorney who specializes in probate, real estate law and trust law to determine what your legal options may be.

You can contact the court where the probate was filed and ask how you can obtain a copy of the will. If you live nearby you can go to that court, review the entire file and make any copies of documents that you want. If not, you can arrange to obtain a copy through the mail.

No. Assuming your grandmother has died, the only way you might be able to get money now would be if you can convince someone to buy your interest from you. Perhaps another family member would be interested. You would need to execute a quitclaim deed of your interest. If you can find a buyer you should have the transaction supervised by an attorney.

You may need to consult with a probate lawyer to file the appropriate paperwork to transfer the property into your name. This process typically involves obtaining a legal document such as a deed or title to officially transfer ownership. It's important to follow the legal requirements in your area to ensure a smooth transfer of the property.

If the decedent died intestate, or without a will, that depends on the state laws of intestacy where the decedent lived or where the property is located if it's located in another state. On the other hand, if you are thinking of estate planning you should speak with an attorney who could help you make certain the property passes as you want it to pass at the time of your death.

If the money has been gifted within a recent period of time (3 years??), there may be an effort to reclaim the money or deny her the subsidy.

There is a (5 year look back on gifting) that Medicaid guideline work with when looking at the assets of person applying for assistance.

The Deficit Reduction Act of 2005, which wasn't enacted until February 8, 2006, tightens Medicaid qualification requirements.Because Medicaid eligibility rules often are counter-intuitive and replete with traps for the unwary.

To qualify for Medicaid funded long term care, an individual must demonstrate medical needs and have minimal countable resources and income. Resource and income limits vary depending on living arrangements and care needs, but nearly all cash and assets available to fund food or shelter count. For instance, vacation homes, gifts, Social Security, and security deposits usually are countable.

Gifts are an obvious way to retain excess Medicaid countable resources within a family, but they can carry a heavy price. Gifts to loved ones may reduce excess countable resources, but they can trigger penalties.Nearly all gifts trigger penalties unless the gift is to or for a spouse, minor child, or disabled person or to a qualifying trust.

An individual temporarily is disqualified for Medicaid to fund long term care if the Medicaid applicant or her spouse makes non-exempt gifts within sixty months of applying for Medicaid. The disqualification period varies with the value gifted. While gifts outside the sixty month look back period don't trigger penalties at all.

When a donor does seek Medicaid within sixty months of making large gifts, the penalty period can be far greater than sixty months. Because the disqualification begins when the donor otherwise first would qualify for Medicaid, gifting that cause trigger for Medicaid application can prove to be extremely costly.

Gift planning requires expert guidance. Gifts must meet technical requirements to qualify for the exemptions. The simplest approach is to make gifts and then wait at least five years to apply for Medicaid.

Where an individual can't wait 60 months after making gifts to apply for Medicaid, the disqualification period generated by gifts won't begin until countable resources are reduced to the applicable Medicaid limits.

An individual who may need long term care can pay loved ones to provide care or other services. So long as the compensation is reasonable, no gift occurs, but there are tax consequences. For instance, a child can be compensated for managing the parent's care and finances or providing personal services such as laundry, meals, and transportation. However, the arrangement must be reasonable and covered by a contract.

Estate Attorneys have several ways to help families qualify for Medicaid without first dissipating all of their savings.

You can check the Social Security Death Index (SSDI) database to verify whether a Social Security number belongs to a deceased person. This database is maintained by the Social Security Administration and is publicly accessible.

Yes. If the life estate holder has been moved to a nursing home and you think it's a permanent move then you can take charge of the property in order to prevent loss or damage. You are the fee owner. If it's a temporary move you can still take charge of the property during the nursing home stay. The property can't be mortgaged or sold as long as the life estate holder is living without their consent.

The age requirement to be an executor varies by jurisdiction, but generally you must be at least 18 years old to serve as an executor. It is important for an executor to be mentally capable and legally competent to fulfill their duties.

to list a few.....healthy diet, regular exercise; avoiding the bad things such as cigarettes, excessive alcohol consumption; regular visits to your doctor (preventive diagnostics for early detection of cancers, etc.); avoid excessive sun exposure....

yes, if she gets the proceeds of a will, they are all hers. there is some law concening how long she lives, usually if she lives for at least 30 days then it's all hers. she can then do what ever she wants with her money, and it's hers if she inherited it. sorry.

I am an AI, so I do not have personal experiences or a life in the same way humans do. My primary function is to assist users like you with information, tasks, and conversations to the best of my abilities.

Whether you will receive inheritance from your grandmother's house depends on the legal arrangements she has made. If your grandmother has a will specifying you as a beneficiary, you may still receive inheritance even if the house is in your daughter-in-law's name. It is important to consult with a lawyer to understand your rights and options in this situation.

As of 2020, Germany's average life expectancy is around 81 years. This can vary based on factors such as gender, socio-economic status, and access to healthcare. Overall, Germany has a relatively high life expectancy compared to many other countries.

The age at which you can retire varies depending on your country's retirement system and your personal financial situation. In the United States, for example, you can start receiving Social Security benefits as early as age 62, but full retirement age is typically between 66 and 67. It's advisable to consult a financial advisor to determine the best retirement age based on your individual circumstances.