Blog & Resources

From our “Ask a Question” mailbag: How do I make sure the inheritance that I leave my daughter passes to my grandchildren at her death?

If you leave your daughter an inheritance outright, then-at her death-it will be available to satisfy any creditors or law suits she might have. It might even end up in her husband’s name, rather than passing to your grandchildren.

From our “Ask a Question” mailbag: My husband died several years ago, so I now own the family house. My children get along fairly well, but they should not own this house together. It would cause conflict. There is little else that I own, so I want to make sure that the house is sold and that there is no fight about it. How do I do that?

Two things come to mind.

First, in circumstances like this, I will place specific language in the will instructing the executor to sell the property for fair market value. A child may buy the property, but it must be without any loan from the estate. Therefore, the child is treated like any other buyer.

From our “Ask a Question” mailbag: My grandmother died in Chester County without any real assets, except for a small bank account and some solely owned stock. Her will says her assets are to pay her last bills and anything left is divided among the grandchildren. We’re confused as to how to sell the stock. Do we have to sell it through Computershare or can we sell it through any brokerage?

During her lifetime, the stock and bank account could only be accessed or liquidated by your grandmother. Now that she is dead, the accounts will sit until an authorized person contacts the bank and brokerage. Since your grandmother died with a will, it likely names an executor. That person needs to take the will to the Chester County Register of Wills along with the death certificate, legal identification and a checkbook.

From our “Ask a Question” mailbag: My husband died a resident of Atlantic County without a will. All his assets were owned joint accounts with me. This week, I received a form letter in the mail saying they had issued a statement and a proof of claim against my husband’s estate. They’re also requesting immediate payment in full. The letter is addressed to his estate, but came in the mail to me. What should I do?

When someone dies without a will and all their assets are held jointly with a spouse, there is no need to file a will as the assets pass to the surviving spouse because of joint ownership. That being said, avoiding probate by using a joint ownership does not mean that he avoided his creditors.

From our “Ask a Question” mailbag: Years ago, I gave a friend a General Durable Power of Attorney. Now I am married, living in Chester County and want to give Power of Attorney to my spouse. My former-friend will not give me the old Power of Attorney. Can I revoke or void the Power of Attorney if he still has the original?

Yes, you can void a Power of Attorney at any time as long as you have the requisite mental capacity. Your situation will be a little more complex, as you have given the original document to your former agent. I have not seen that Power of Attorney, but it may have a paragraph that states that banks and others need not confirm with you that the document is still in power.

From our “Ask a Question” mailbag: My mother is incapacitated and living in an assisted living facility in Burlington County, New Jersey. She appointed my brother agent under her power of attorney. My mother has a life insurance policy on her life that names me as beneficiary. My brother refuses to make the payment, so the policy will soon lapse. Can I make the payment?

You certainly can make the payment, as the insurance company does not care who sends the check. The life insurance company will only care if the check clears. If the policy is a term policy, you should consider when the policy lapses.

From our “Ask a Question” mailbag: My entire life, I have lived in Camden County, New Jersey. My parents and lived in Camden, and so do I. My father died two years ago, and my mother passed away last week. I was an only child, everything in my mother’s will was left to me, and I am executor. Do I need to probate her will, or open an estate? Her only assets were the family home (valued at $600,000) and her car.

The short answer is: yes, because you cannot transfer the deed without going through probate. In New Jersey, there are only a few cases where there is no need to probate a will.

From our “Ask a Question” mailbag: I am the executor of my Father’s estate in Delaware County, Pennsylvania. I want to distribute the estate assets according to the will. Is there a statute of limitations, or a time period for creditors making claims against the estate? If I distribute the assets, can I be held responsible if creditors make a claim?

First, your father’s death did not end his obligation to pay unpaid bills. By taking on the job of executor you have the power and responsibility to assemble his assets and pay those bills. Compared to other states, Pennsylvania is rather creditor-friendly.

From our “Ask a Question” mailbag: Before she died, my mother-in-law lived in my Montgomery County, Pennsylvania house and required around-the-clock care, which I provided. My husband’s brother and sister did not even visit. Now that she has died, her estate is being divided up between the children and they refuse to compensate me for all the work I did caring for their mother. Can I make a claim to be paid?

Your mother-in-law’s estate is to be divided up between the heirs as her will dictates, or through the rules of intestacy if she had no will. Prior to the division of the assets, all creditors must be paid.

From our “Ask a Question” mailbag: My grandfather, a resident of Bucks County, Pennsylvania, died of dementia 12 years ago. Shortly before his death, his will was changed, giving everything to my aunt. We believed that my grandfather died broke, but now that my aunt died, we found out that he had a joint account with her containing a large sum of money. The prior will states that I would receive a portion of his estate. Can I challenge the will?

First, a will challenge case alone based on incapacity or undue influence, even if successful, would not help you. You stated that the funds were in a joint account. A joint account passes outside of probate, meaning the will has no effect on the joint ownership. To be successful, you would first have to prove that the joint account was created improperly—perhaps under undue influence or forgery—so that the assets would pour into the estate.