13

No Pennsylvania law § 2104 requires: (10) Requirement that heir survive decedent for five days.--Any person who fails to survive the decedent by five days shall be deemed to have predeceased the decedent for purposes of intestate succession and the decedent's heirs shall be determined accordingly. Now, a will can provide contingencies for if an heir ...


10

Issue in this sense means a person's children or other lineal descendants such as grandchildren and great-grandchildren. It does not mean all heirs, but only the direct bloodline.


8

The default provision is that the uncle has to survive the grandfather for his estate to inherit. A will or trust can have contrary language (sometimes requiring survival by 120 hours to 6 months) but it would be unusual for a non-spouse inheritor to have to survive by more than 120 hours. In the case of a beneficiary designation on a life insurance annuity, ...


7

However, he wants a new security deposit and a month's rent for the time we will use it in March, claiming that the sale process makes us new tenants. What are the legal rights and legal obligations of an estate in a month-to-month rental situation? The estate is just starting the probate process, and I am unclear on whether the landlord is a "...


7

If the parents own the house (as shown on the official deed) it will go as they leave it in their wills, or as the local law for intestate inheritance (no will) directs. Who paid all or part of the down payment will not matter. If the intent was for that to matter, then the child who provided the down payment should have been listed as partial owner, or some ...


7

Possibly, but probably not in this case It is possible to make an estate the beneficiary of a life insurance policy or an annuity. For example, it is common to have the decadent's own estate to be a beneficiary or contingent beneficiary. However, to the best of my understanding, this happens only when an estate is explicitly specified, such as "John ...


6

That all seems perfectly legal, enforceable and, providing everyone had been given legal advice and agreed to it, would not breach a lawyer’s code of ethics. Of course, my response to a child of mine who proposed it would be to rewrite my will to give them nothing - it’s my money and I’ll do what I like with it.


5

What would be the best course of action now? It has been six months with no communication from him or his estate lawyer, and no will has been filed with the court. Since it's not entering probate, is there any guarantee that he has to faithfully execute the conditions of the will at all or notify any of the beneficiaries? Without probate, can he ...


5

A deed executed during life trumps a will. The other siblings would have to argue: Your mom did not have the capacity to execute the deed (which is a very low standard in terms of her capacity). The deed was procured from undue influence from you (which requires them to meet a high bar of proof). The deed was really the implementation of an agreement for ...


5

With forms AT-108 and AT-900 the license may be transferred to the personal representative and then the entire stock can be liquidated to any other license holding establishment. Licenses may be transferred by completion of Form AT-108, at no charge during the license year from one person to a court-appointed receiver as a result of foreclosure or ...


4

You are mistaken. Your sister is entitled to live in the home rent free for as long as she likes. Title to the house trumps whatever the Will has to say. If the house was titled in joint tenancy with right of survivorship, then she became the sole owner of the home at your mother's death and the house was not part of the probate estate that passes under ...


4

A trust, revocable or irrevocable, does not protect the estate from claims by creditors. Under ORS 115.125(1)(k), the Department of Human Services or the Oregon Health Authority has a claim against the estate, behind the claim for "the state’s monthly contribution to the federal government to defray the costs of outpatient prescription drug coverage ...


4

There is no requirement that a will, or a trust created by a will, be "fair". The will could have left $500,000 in trust for one set of siblings, and $5,000 to another set. It could specifically exclude one beneficiary from some of the benefits, or specify an unequal division. That is all the choice of the testator. As described in the question, the trust ...


4

It sort of depends on what the will says, for example if the will says "shall receive 1% of the value of my estate at the moment of my death", that answers your question. That's a bit unlikely, more probably it just says "shall receive 1% of my estate", in which case this refers to "the totality of what is left to disburse to ...


3

If structered as a trust, this might well fall foul of The Rule against Perpetuities, depending on the jurisdiction. See this law review article whre it is said: Those familiar with the rules of law concerning the duration of trust estates, have learned that private trusts may not be created for unlimited lengths of time. The rule of law controlling the ...


3

What would be an appropriate legal classification? A trust. How could this entity be structured so it could manage multiple estates? As a trust. Could this entity choose to keep, say, 30% for internal use e.g. resuscitation research? If that’s what it says in the trust deed, yes. How could this entity be made "recession-bulletproof," such that it could ...


3

could a case be made for breach of fiduciary duty? Yes, I think, although not every person or stakeholder would have standing to sue the board of trustees of the private university. The prima facie elements of breach of fiduciary duty are "(i) the existence of a fiduciary duty; (ii) a knowing breach of that duty; and (iii) damages resulting therefrom", ...


3

Short Answer If everything was set up correctly in the first place, it is probably unnecessary to open up either an informal probate case or a formal probate case, although it may be necessary to prepare a small estate affidavit. But, there aren't enough facts in your question to know for sure. There are also a couple of documents that have to be filed or ...


3

It is sometimes necessary or desirable to hold customer money in a separate account because it is their property. For lawyers, this kind of account is highly regulated. For most other kinds of businesses, this kind if account is not highly regulated. If you were required to have an account of this time, you could not borrow against it or pledge it as ...


3

Non-Profits Need Not Have Owners But Must Have A Lawful Purpose Any non-profit company, for example, a 501(c)(3), is ownerless and can be run by a self-perpetuating board if desired, rather than having delegates that provide an outside source for new board members. In that case you have to set forth a purpose of the company or trust, to which its assets and ...


3

These types of situations can, do and will get very messy and bitter fast. The key question here is actually two basic areas: What’s the legal situation now in terms of what you can actually claim etc? For this you need a lawyer familiar with the local laws. Second, and much more important, is how much you value your relationship with your sister. These ...


3

Let's say the trustee runs into a situation where the beneficiary demands some action, and the trustee thinks this action is a really, really bad idea. Then the trustee can either say "no". Or the trustee can say "yes" and be liable (so if the action is a really bad idea then the trustee won't do this). The trustee can NOT say "yes if you sign this paper ...


3

The parents are under no obligation to guarantee to one child fifty percent of their assets as of any particular date. If they wish to spend money on gifts to or support of one child, that is their right. The parents could, if they choose, change their will to reduce the sister's share by amounts that they provide to her after the will is signed, but that ...


3

First, agree w/Dale M re: it would be an egregious and likely career-ending move for an attorney to fake his representation. That said, there is likely no reason why you would be unable to request such proof of representation. Your job consists of protecting the assets of the trust, carrying out any other duties outlined in the trust document, being honest ...


3

It is easy to confirm (and you should confirm) that someone is a lawyer by checking the attorney registration data from the state where they purport to practice, usually available either online or with a quick phone call. If the person who claims to be a lawyer is not a lawyer then you are being defrauded. If person claiming to be a lawyer is really a ...


3

Titled property, like real estate, is not owned by a trust until title is transferred to the trust. The trust is, in a legal sense, a separate entity from you. Yes, it takes paperwork to effect that transfer, but that's the only way to get the benefits of having the property "in the trust." Wills, however, do not require a transfer. You can put your ...


3

You can do it using a US non-profit, but you need a lawyer We know it can be done in the US using a non-profit because it has been done. For example, the Clay Institute’s Millennium Prize does exactly what you propose: it pays people who solve unsolved math problems. Similarly, the the Everglades Foundation used a prize to get people to come up with new ways ...


3

When a debtor dies, with the debt outstanding, the debt enters default. The estate has to solve the outstanding debt before paying out any inheritances: The estate can and does pay up. This outstanding debt of the estate is gone, the car is paid off, and enters the estate as a value to be distributed as the will or rules dictate. The estate doesn't pay up, ...


3

This answer is under U.S. law, with one detour to Canadian tax law. Only the more general rules are stated. Most of the rules stated in the post have exceptions, although they rarely apply. Estate and Inheritance Tax Valuation For federal estate tax purposes, assets are valued on date of death unless the estate elects to use the "alternative valuation ...


3

The "SS" is a standard part of a the notarization language on a document which is known as the "jurat" of a document. The “SS” stands for the Latin term “scilicet” which means "in particular" or "namely" and simply indicates that the place where the document was signed is described in the preceding bracketed portion of ...


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