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Re: I'm going to do it.
[Re: John2]
#8412325
10/10/21 02:47 AM
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Joined: Sep 2013
Posts: 485
Uncle Zeek
Bird Dog
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Bird Dog
Joined: Sep 2013
Posts: 485 |
Ok, here's some free legal advice for the person who doesn't want a will:
Add the intended beneficiary (daughter, whoever) as the "payable on death beneficiary" (POD) to all bank accounts, IRA/401k/retirement accounts, stock brokerage accounts, etc. This bypasses any need for probate without giving a present right to access the accounts.
Deed the house to daughter now using a "Transfer on Death Deed", a "Lady Bird" deed, or similar recorded instrument.
Execute the same type of transfers on your vehicle titles - the state has them, just recall the exact wording right now.
If all the above is too much, then handwrite a simple will along the lines of "I leave everything to my wife. If my wife has died before me, I leave everything to my daughter". The ENTIRE document must be in your handwriting and signed by you. But don't put your daughter through the unholy hell of probating your house through an intestate proceeding unless you really hate her.
Last edited by Uncle Zeek; 10/10/21 02:48 AM.
"Decency is not news; it is buried in the obituaries - but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate, probate & taxes 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 work zac@artimlegal.com
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Re: I'm going to do it.
[Re: Uncle Zeek]
#8412361
10/10/21 03:16 AM
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Joined: Jul 2008
Posts: 21,617
pegasaurus
THF Celebrity
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THF Celebrity
Joined: Jul 2008
Posts: 21,617 |
Ok, here's some free legal advice for the person who doesn't want a will:
Add the intended beneficiary (daughter, whoever) as the "payable on death beneficiary" (POD) to all bank accounts, IRA/401k/retirement accounts, stock brokerage accounts, etc. This bypasses any need for probate without giving a present right to access the accounts.
Deed the house to daughter now using a "Transfer on Death Deed", a "Lady Bird" deed, or similar recorded instrument.
Execute the same type of transfers on your vehicle titles - the state has them, just recall the exact wording right now.
If all the above is too much, then handwrite a simple will along the lines of "I leave everything to my wife. If my wife has died before me, I leave everything to my daughter". The ENTIRE document must be in your handwriting and signed by you. But don't put your daughter through the unholy hell of probating your house through an intestate proceeding unless you really hate her.
This man speaks the truth. I just went through some similar things with my mom because of a poorly written will by her husband ( not my father). Without these things the court will have to be involved and it takes money for lawyers and and time for court. I learned a lot about the process and do not want to have my kids or wife to go through that mess.
Funny thing about getting older: Your eyesight starts getting weaker but your ability to see through people's BS gets much better.
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Re: I'm going to do it.
[Re: John2]
#8412780
10/10/21 02:47 PM
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Joined: Nov 2006
Posts: 14,033
John2
OP
THF Celebrity
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OP
THF Celebrity
Joined: Nov 2006
Posts: 14,033 |
Thank you Uncle Zeek for your valuable information,we love our daughter very much and I wouldn't put her through a hardship such as this.
Not all those that wander are lost..
Back The Men in Blue that wears a badge
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Re: I'm going to do it.
[Re: John2]
#8412798
10/10/21 03:12 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
THF Celebrity
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THF Celebrity
Joined: Nov 2009
Posts: 91,416 |
Love happy endings.
Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: I'm going to do it.
[Re: bill oxner]
#8412812
10/10/21 03:23 PM
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Joined: Sep 2004
Posts: 12,422
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,422 |
Love happy endings. You got enough money, head to the local massage parlor and enjoy, don't be a Jack Benny
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Re: I'm going to do it.
[Re: John2]
#8412841
10/10/21 04:01 PM
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Joined: Jul 2011
Posts: 9,972
Old Rabbit
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jul 2011
Posts: 9,972 |
You are doing the correct thing, John2 by getting a will. My mom and dad had one and it made it really easy for my older brother to handle everything. My wife and I both have wills that state everything very clearly. We also have our oldest son on our bank accounts, that way he can pay bills for us if we become unable. Thanks for changing your mind, your daughter will be thankful.
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Re: I'm going to do it.
[Re: Uncle Zeek]
#8412946
10/10/21 05:30 PM
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Joined: Sep 2004
Posts: 10,851
DannyB
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 10,851 |
Ok, here's some free legal advice for the person who doesn't want a will:
Add the intended beneficiary (daughter, whoever) as the "payable on death beneficiary" (POD) to all bank accounts, IRA/401k/retirement accounts, stock brokerage accounts, etc. This bypasses any need for probate without giving a present right to access the accounts.
Deed the house to daughter now using a "Transfer on Death Deed", a "Lady Bird" deed, or similar recorded instrument.
Execute the same type of transfers on your vehicle titles - the state has them, just recall the exact wording right now.
If all the above is too much, then handwrite a simple will along the lines of "I leave everything to my wife. If my wife has died before me, I leave everything to my daughter". The ENTIRE document must be in your handwriting and signed by you. But don't put your daughter through the unholy hell of probating your house through an intestate proceeding unless you really hate her.
If you have an Enhanced Life Estate Deed (Lady Bird) deed it can keep the home immune from the Medicaid Estate Recovery process because the home doesn't go through probate. The Medicaid Estate Recovery process only goes after probated assets. With the Lady Bird deed the home bypasses probate and automatically becomes your daughter's home when you pass. That info is if you have to apply for Medicaid to pay for nursing home expenses. Most long term residents of nursing homes are on Medicaid. Furthermore, get a referral from a title company for a property attorney that they will accept the Lady Bird deed from. The title company has to insure it and the one I use would not accept some online bought fill in the blank deed. Being a Realtor I thought to check into that first. I don't want to paint all Medicaid advisors with a broad brush, but the one I went to see just in case my parents might end up in a nursing home for a long time was a scam. He literally played a shell game that would sell us an annuity. Anyway, after much homework there was a plan. Luckily though neither parent needed to apply. They both had brief nursing home stays.
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