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How do handle an estate. - 11/23/2008 7:04:48 PM
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-J-
Posts: 63
Joined: 10/6/2006
Status: offline
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Hi there,
My father recently passed away. It was unexpected, untimely, and devastating.
I am at a complete loss, and could use any advice that anyone might have regarding how to handle an estate.
Basically I was wondering if I need to use a lawyer for Probate Court. The woman at the bank said that I can do so without a lawyer, especially since he didn't have very much money, and that it was just a matter of filling out papers. The will he left is pretty straight forward, pretty much 50/50 with my brother. And I really don't see any complications or strife between my brother and I.
Has anyone gone about this unfortunate procedure without a lawyer? I believe it varies from state to state... I'm in NY.
as I typed that above sentence it just dawned on me to search my states website...but since I already typed this message..I'll post it.
Thanks,
-J-
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RE: How do handle an estate. - 11/23/2008 9:15:59 PM
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TorchHeart
Posts: 1975
Joined: 6/4/2008
From: One of the coldest places on Earth
Status: offline
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First off, J, I'm sorry for your loss. I pray your father is in Heaven with our Lord.
Dealing with your matter at hand, I think it could be a good thing to at least consult with a lawyer on the subject. This can help with matters other than money, such as property and other belongings. Do you know if your father had any outstanding debts that your brother and yourself might have to contend with? If so, a lawyer might be able to let you know what your resonsibilites would be to his creditors.
Also, do you have things that need liquidating (property, furniture, other belongings)? I work with an auction service and might be able to give you advice on dealing with those kinds of circumstances.
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RE: How do handle an estate. - 11/23/2008 10:29:50 PM
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-J-
Posts: 63
Joined: 10/6/2006
Status: offline
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Thank You TorchHeart.
He really didn't have much, in terms of material things... He lived very simply, not much furniture and just his clothes and his Cross.
Fortunately he didn't have much debt, just car payments.
My brother and I did assume the responsibility of his apartment and his car payments (he still owes about $4000 on the car, I'm supposed to talk with a Probate person from the bank this week regarding the loan.)
As for the apt, my brother and I decided to fix it up a bit and sell it. Though, realistically it probably won't sell that quickly in this market, so what will probably happen is that we will wither rent it or I'll move in there and keep it up until we can.
I did talk with a Lawyer... actually the Lawyer who drew up the will contacted me. He basically made it seem that I had to go with him, didn't really give me much information, and wouldn't talk bout fees. I really didn't get a good "vibe" from him to be honest. I was clear with him that I didn't want him to do anything until I was a bit further along in the grieving process ... so I can think a bit more clearly. It's really difficult to reduce someone to paperwork, and a dollar value.
As I'm writing this I'm coming up with ideas.... I suppose finding the lawyers final fee would be a good start.
ugggg.
-J-
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RE: How do handle an estate. - 11/23/2008 10:35:37 PM
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WhiteRoseBlessings
Posts: 23489
Joined: 4/11/2005
From: Here . . . but subject to change; stay tuned
Status: offline
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You do NOT have to use the lawyer that drew up the will.
Go to your local probate court (you can find them in the yellow pages), and ask them some preliminary questions as to what needs to be done, and in what order.
If everything is pretty simple and straightforward and you and your brother are on the same page about everything, most likely you will not need a lawyer.
Again, your local probate court will be able to tell you what you'll need to do. I'm saying this, going on the assumption that you're the personal representative.
My sincere condolences on the loss of your father.
Blessings,
Sharon-Marie
_____________________________
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RE: How do handle an estate. - 11/24/2008 12:45:37 AM
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metoo
Posts: 36
Status: offline
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I am sorry for your loss.
It sounds like your dad owned his apartment. If that's the case I would not try to do the probate without a lawyer.
I was the executor of my parent's estate (they died within four month's of each other.) The only item they had that needed to go through probate was their home. I was the joint tenant on all of their accounts so they passed directly to me and I was able to divide them with my siblings. I would have never, ever attempted to do the probate on the house without a lawyer. I wish I would have chosen a different lawyer, but know that I needed one. He made sure the proper forms were filed, the notifcations placed in the newspaper for people to make claims against the estate (there were none, but it was a requirement of the probate court). Once the house sold the proceeds had to be held until a certain number of months had passed in case their were any claims against the estate. As executor I could have been held personally liable if I had made distributions prior to then.
If there is real estate involved I recommend you get a lawyer. Spending some money upfront could save a lot more down the road if things are done incorrectly.
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RE: How do handle an estate. - 11/24/2008 7:38:49 AM
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duffer1
Posts: 64
Joined: 4/11/2005
From: snowy frozen wasteland of NNY
Status: offline
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I echo the sentiments offering condolences for your loss.
That being said, I also join the club that believes you should consult a lawyer. I live in New York and have had to deal with estates, etc. The big thing to consider is that all estates are not alike. Different resources mean different steps in the process. Probate may not even be necessary.
If you have a copy of the will, make an appointment with an estate lawyer that you feel comfortable with. More often than not, a one time consultation is free. That lawyer can walk you through the steps. Prepare yourself ahead of time by writing all your questions out on a sheet of paper and don't leave until you are satisfied you have covered all the bases. Also, bring a list of ALL resources that may be considered.
Doing this now will help ensure that you don't get a financial "surprise" about 18 months down the road.
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RE: How do handle an estate. - 11/24/2008 10:06:20 AM
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-J-
Posts: 63
Joined: 10/6/2006
Status: offline
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Thank you all so much for your sage advice, it really helps.
Yes everything is pretty straight forward. The only complicated matter is his Co-op apt. I'll take your advice and go to the probate office today... thank you.
Even though I'm the executor of the estate, I'll ask my brother to consult his Real Estate Lawyer. Since as I mentioned earlier I really didn't get a good vibe from the Lawyer who drew up the will. Plus I was warned about using him by 3 different people. (why can't people just be fair?)
Again.... thank you all so much, you all made a very difficult time a little bit easier.... Thnks :)
-J-
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RE: How do handle an estate. - 11/24/2008 12:13:58 PM
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metoo
Posts: 36
Status: offline
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quote:
ORIGINAL: duffer1
If you have a copy of the will, make an appointment with an estate lawyer that you feel comfortable with.
You NEED and ESTATE attorney and NOT a real estate attorney. I cannot emphasize this enough. Most lawyers will say they know what needs to be done but unless they deal with probate on a regular basis you may not get what you need or you will be paying them to get up to speed since they charge by the hour.
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RE: How do handle an estate. - 11/24/2008 2:38:02 PM
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-J-
Posts: 63
Joined: 10/6/2006
Status: offline
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quote:
ORIGINAL: metoo
quote:
ORIGINAL: duffer1
If you have a copy of the will, make an appointment with an estate lawyer that you feel comfortable with.
You NEED and ESTATE attorney and NOT a real estate attorney. I cannot emphasize this enough. Most lawyers will say they know what needs to be done but unless they deal with probate on a regular basis you may not get what you need or you will be paying them to get up to speed since they charge by the hour.
Got it...thanks!
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