What to do with death in family without a will?

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momopi_IHB

momopi_IHB

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My friend's father passed away over the weekend, but he didn't leave a last will. He was divorced and has 3 sons.





His son is a buddy of mine, who is currently trying to do all the paperwork. But he has no clue on what to do. Can anyone advise?
 
<p>Probate time. . . Get an attorney (probably 3-one for each son) and it will save your friend a lot of problems. A little to pay now as oppose to a huge fight later.</p>

<p> </p>
 
It depends.

If he owned property and had assets then the attorney is a must.

If all he left was some $$ in a bank account and its under $ 200,000.00 it can be split between the brothers

with some simple paperwork and a notary. Your bank can handle that normally. Stocks and bonds usually have a benificiary lised as well as with CD`s



My Dad did this to me too when he passed away 10 years ago. My brother and sister both got a good chunk of cash.

But because I was the oldest they felt I was doing something that was not in their interest. To this day we have issues

beacuse I still have that money. Theirs is long gone.
 
<p>In CA, if someone dies intestate, which means without having a will, I belive probate is legally required for all probate assets. CA has laws regarding intestate succession and at a minimum a summary probate or set-aside proceeding would be required without a will. Summary probates are much quicker, less costly, etc.</p>

<p>Give your buddy this link:</p>

<p><a href="http://www.nolo.com/product.cfm/objectID/5296CE23-8FE5-4884-AE9185E0751B9BD7/309/">http://www.nolo.com/product.cfm/objectID/5296CE23-8FE5-4884-AE9185E0751B9BD7/309/</a></p>

<p>Nolo has great resources for people that have to go through such things. In my 20's, I had to take my mother's estate through probate, and I didn't have a clue either. Probate attorney fees are mandated by statute in CA, so the fees are fixed based on the size of the probate estate. The probate estate is typically all assets not held in joint tenancy or that don't have a beneficiary of some sort. Normally things like life insurance, 401k, IRAs, etc. have beneficiaries and aren't considered part of the probate estate.</p>

<p>I disagree with bitserv. Stocks and bonds held in a regular brokerage account do not typically have a beneficiary. They may be held in joint tenancy and the surviving tenant takes owership of the assets on the others deaths. Stocks and bonds in an IRA, 401k, etc. do typically have a beneficiary. Some cash accounts, CDs, money markets, etc. are POD, but most are not. POD means "payable on death" and essentially is the naming of a beneficiary.</p>

<p>All estates with probate assets over $100K in CA should probably go through the probate process. It's not particularly expensive and for small estates, it's actually pretty quick.</p>
 
<p>BLTserv, </p>

<p> Yep, it just happens that way. I know my twin can be very greedy when he wants to be. It is quite suprising. </p>

<p>I agree with Commuter here, its is probably the best way to split evenly, that way there are no issues whatever the outcome.</p>

<p>-bix</p>
 
<p>it also depends on whether he had any property that is NOT subject to probate (RE held in joint tenancy, life insurance, contracts with passable on death clause, whether he gave anyone a life estate). </p>

<p>For the probate court to assume jurisdiction, I believe they will need to file a death certificate with the court. Then the court will appoint an administrator. Trusts & wlls is one of the most compelx areas of law, so hiring a good attorney will make all the difference, especially if there is a dispute between the heirs. </p>
 
<p>momopi - hiring an attorney, especially a probate one, can be tough task as it is hard to find good references. </p>

<p>The guy I used many years ago for my mom's estate is named Bruce Gleit. It appears he is still in business here in Irvine:</p>

<p><a href="http://www.lawgb.com/">http://www.lawgb.com/</a></p>

<p>He was pretty good. Straight forward, explained things well, etc.</p>

<p> </p>
 
<p>If you don't have a will, the state makes a will for you, under the laws of intestate succession.</p>

<p>If there are 3 kids and no wife, in Florida the 3 kids divide stuff equally. That is, probatable assets. Lots of times, when people get older they put a child's name on the bank account etc, so it can go directly to that child.</p>

<p>I do a bit of probate, and I wouldn't think it would be necessary to hire a lawyer for each kid, unless there was a lot of hostility.</p>

<p>I would think that most states would provide the 3 kids would equally share. Now if there are grandparents vs nieces and 2nd cousins once removed, the different states may come to a different conclusion. </p>
 
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