Some states allow for "muniment of title" rather than full probate for small estates. Kinda like "probate lite" or "probate low-calorie".
Probating a will as a “muniment of title” is simpler way to deal with probate. Instead of applying for letters testamentary and undertaking a full probate procedure, a person with a direct interest in the estate can submit an application to probate the will as a muniment of title. This can be used when all that is needed is the transfer of real estate and/or personal property from the decedent’s estate, and there is no other real need to manage the estate. For those of us who have parents on Medicaid, this may work as their assets are @ or below 2K except for their homestead and perhaps a car.
To do it there must be a will and no unpaid debts owed. If they were on Medicaid/Medicare, all medical would be paid by Medicaid or Medicare, so no medical debt there. If they had a funeral/burial policy, then no debts there either.
To proceed with a muniment of title, a direct beneficiary of the will needs to submit a specific application to the probate court, and attach the original will. The court must be satisfied that the will is admissible, that there are no debts, and there is no other necessity for administration of the estate. A hearing may be required. In my mom's county, it is a paperwork review first and then a hearing only if needed. If they had a home and were on Medicaid,and filed for MERP exemptions & approved, then they will need a release of claim from MERP (Medicaid Estate Recovery) that is included in the paperwork.
If the court approves the application, it will issue an Order Admitting Will As A Muniment of Title.The court’s order can be presented to persons owing money to the estate or having custody of estate property, and the property must be handed over to the beneficiaries in accordance with the terms of the will. Within 180 days after the will is admitted, you file an affidavit with the probate clerk stating that the terms of the decedent’s will have been fulfilled. Runs about $ 300 in my mom's county. If you are organized and comfortable with a courthouse, it can work!
I believe many people hire an attorney upon the death of a family member.....when in fact the "estate" does not have to go into probate. The matter can be handled by family members. People get so rattled by death.....then run to a attorney for help....when in fact they can save their money and handle it themselves.
In California a person has to have a least $150,000 in the bank or there will be no probate. Which means someone can drain all the funds below this amount and hide the rest $149,000! And not have to notify anyone else named in the Will.
What is so frustrating is when you have a parent who does not want to deal with anything, but bury their head in the sand. It just adds to the stress that I feel.
BTW....do NOT assume that all "professionals" are automatically impartial and will protect the elder's assets. There are unscrupulous attorneys & accountants that set up papers so that they can siphon off the person's assets. Sometimes, a close family friend (rather than blood relative) who is known to be trustworthy is a better choice for an executor of an estate. They can be more impartial than a relative at times.
I know of somebody whose house did not close because the attorney, instead of putting the money for the closing costs into escrow, SPENT the money - so it was not there when it was time to close the house. You can't get blood from a stone.
When a parent starts to "lose it" the most sensible thing is to have everything set up in a revocable living trust. (This has nothing to do with a will.) I dragged my ailing father around all over creation and had him sign papers to set up everything in a revocable living trust to avoid probate and protect his assets.
If somebody's name is on a bank account, that person has equal access to all money in the account. It is for this reason that NOBODY should ever agree to be on an account unless all parties are responsible with that money. One person has the legal right to suck all of the money out of that account, without the consent of the other person if it is a "joint" account (JTWROS).
Consequently, once an irresponsible party to a joint account siphons all of that money out of the account, there's not much legal recourse - after all, it was THEIR money also and they had a legal right to use it with or without consent of the other joint account holder.
By the way, he has already drained her accounts before her death. She had around fifty thousand before his name was added. Now, there is only six thousand and eight hundred left, after he has been withdrawing it for the past year.
When I get my mother's will probated, does her companion, not married, receive any money from her accounts? He has no deposits to mom's accounts, but she put his name on her accounts about a year ago.
Oh I am so sorry! Yes, no one knows and once the parent is gone it just gets worse I think. I'm so glad you got my message. I hope somehow you can find some peace with the other aspects of your life. I know I try to focus on all my blessings, it doesn't ALWAYS work but it helps a little. And then sometimes I just get all wrapped up with worry about my sister. Mom's health is still doing well, and she's mostly just forgetful so it's possible I can do something about it now while she's still relatively healthy and cares about ALL of us girls. Wish me luck. May God bless you.
My heart is broke. Also sad thing is my adopted mother was trying to make amends with me over the last 10 years of her life. Long story. But she was losing her mind and brother stole everything!!. No probate. LA Court system won't help. Assets very likely transferred overseas so no way to track the thievery. If mom had had a professional put an irrevocable will, while she was still of sound mind, this could not have happened! Everyone should have it where siblings can't have issues .........as no one knows what will REALLY happen when money is involved.
So, in other words, if the elderly person has Alzheimers and files jointly with Executor, that Executor can steal all assets, which believe happened to me. My wish is that all elderly sign irrevocable Executor agreement with non-family, but a professional!!!!
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Understanding Which Assets Must Go Through Probate
Kinda like "probate lite" or "probate low-calorie".
Probating a will as a “muniment of title” is simpler way to deal with probate. Instead of applying for letters testamentary and undertaking a full probate procedure, a person with a direct interest in the estate can submit an application to probate the will as a muniment of title. This can be used when all that is needed is the transfer of real estate and/or personal property from the decedent’s estate, and there is no other real need to manage the estate. For those of us who have parents on Medicaid, this may work as their assets are @ or below 2K except for their homestead and perhaps a car.
To do it there must be a will and no unpaid debts owed. If they were on Medicaid/Medicare, all medical would be paid by Medicaid or Medicare, so no medical debt there. If they had a funeral/burial policy, then no debts there either.
To proceed with a muniment of title, a direct beneficiary of the will needs to submit a specific application to the probate court, and attach the original will. The court must be satisfied that the will is admissible, that there are no debts, and there is no other necessity for administration of the estate. A hearing may be required. In my mom's county, it is a paperwork review first and then a hearing only if needed. If they had a home and were on Medicaid,and filed for MERP exemptions & approved, then they will need a release of claim from MERP (Medicaid Estate Recovery) that is included in the paperwork.
If the court approves the application, it will issue an Order Admitting Will As A Muniment of Title.The court’s order can be presented to persons owing money to the estate or having custody of estate property, and the property must be handed over to the beneficiaries in accordance with the terms of the will. Within 180 days after the will is admitted, you file an affidavit with the probate clerk stating that the terms of the decedent’s will have been fulfilled. Runs about $ 300 in my mom's county. If you are organized and comfortable with a courthouse, it can work!
I know of somebody whose house did not close because the attorney, instead of putting the money for the closing costs into escrow, SPENT the money - so it was not there when it was time to close the house. You can't get blood from a stone.
If somebody's name is on a bank account, that person has equal access to all money in the account. It is for this reason that NOBODY should ever agree to be on an account unless all parties are responsible with that money. One person has the legal right to suck all of the money out of that account, without the consent of the other person if it is a "joint" account (JTWROS).
Consequently, once an irresponsible party to a joint account siphons all of that money out of the account, there's not much legal recourse - after all, it was THEIR money also and they had a legal right to use it with or without consent of the other joint account holder.