If you are “gifting” there are likely estate and gift tax consequences for the donors. They should be aware of that. Even if they are willing to make the gift, the tax consequences could come back to bite them. The tax thresholds are high now so people aren’t as worried, but if the Democrats come in I suspect the exemptions are going to go right back to zero.
The signed and filed will is the will. Period. If the executor does anything but follow the letter of the signed and filed will, the executor is violating the law and the door is open for lawsuits galore, and perhaps even for prosecution of the executor.
I’m surprised the attorney would suggest such a thing.
Not 100% positive but it doesn't sound like a legal will if no one has signed it other than him.
I haven't read the following, but thought it might provide more information for you.
What kind of lawyer advises a family to ignore a signed legal will in favor of one that is not signed? Especially if the person who wrote it was not in full possession of his faculties? They are free of course to follow the deceased wishes once the legacies of the original will are carried out. My advice: Get a new attorney, one who specializes in probate law and related matters.
If there is a challenge to a will by a beneficiary (or a person wanting to be a beneficiary), the court will decide, if no agreement is reached.
If there is a valid will and an invalid will, I don’t see where a court would go with the invalid one.
Good luck to whomever on sorting it out!
Makes me wonder if the FRIEND spent a lot of time with him and helped him a lot when he needed it but the sister and niece did not!! I don’t think the family will turn it over regardless!!!
[Not a lawyer and dont play one on TV]
I would say that the attorney needs to be put on the spot with a couple of simple questions:
1) According to state probate LAW, which will is current and correct? Usually a signed will is given priority
2) According to state probate LAW, what discretion does the executor of the will have with disregarding the provisions of the will? Usually none.
Usually the answer to those two question will clarify things quite a bit.
What he was saying that you could never be certain how a judge was gonna rule on a certain matter...or in a particular case.
That may,or may not,apply to other states...including yours.
There is literally, no choice. There is only one legally signed will. The executor has to follow it.
What the beneficiaries do with their inheritance is their choice.
They have no legal obligation to follow the second unsigned will. Neither do they morally. The living owe the dead nothing. Sucks for the beneficiaries of the 2nd will and the lawyer was lazy in not getting it signed in a timely fashion.
What about the third Will he “intended” to Write making me the Sole Beneficiary? Man oh man, I’m screwed again.
Seriously, the Signed Will is the Legal Will, period.
IMHO, stay out of their Family Business. You don’t want to get sucked into this mess.
My brother was the executor of an estate which went through a very similar situation. The legal guidance he got was to follow the last will filed at the county and close out the estate asap, then let the parties fight it out in court. This was about 5 years ago, and from what I hear, the kids are still fighting in court.
Beneficiaries have every right to accept, gift, or pass altogether in any probate situation.
People always say it’s not about the money.
It always is.
Any lawyer that would tell and executor to violate his fiduciary duty should be disbarred.
And the folks that had influenced him to change the bequest (ultimately unsucessfully) should demand an autopsy.
I’m a Financial Advisor, 28 yrs.
You need to contest the will.
But fact is, the IRA already had beneficiaries listed on them, as a contract. Same with the annuity.
Any bank or brokerage accounts may have had TOD/POD on them, a contractual beneficiary that supersedes a will and only requires a death cert for processing, not probate. Likewise, the annuity and ira are outside of probate.
I have once seen a successful fight in court on a TOD/POD listing. Stands for Transfer on death, Paid on death, synonymous terms.
The person or persons named as Executor(s) of the signed Will are legally and morally obligated to distribute the assets as specified therein. Unless the deceased’s attorney referenced in the story is the Executor, his job is to provide a copy of the last Will that the deceased DID sign.
Since the new will wasn’t signed, it’s not a legal document.
It’s up to the beneficiaries in the active will to decide if they want to honor his second will and I’m guessing the other women who were looking to hit the jackpot with this one, won’t be.
Likely he was not in the best mental condition when they got to him.
As an aside, a friend thought she was going to lose her entire inheritance to a gold digger who began dating he divorced and elderly father. Happened he died before either getting married or signing the documents, I don’t remember which. They all knew she was just after the money.
That’s all younger women ever go for when they are dating elderly men. There’s no other reason to date that far out of your age range.
GO WITH THE ORIGINAL SIGNED WILL!!!!!
I have just spent the last several years of my life and literally tens of thousands of dollars in fees to clean up almost the same situation.
This will be contested no matter which will you follow, or what anyone named in said will says.
1. DOCUMENT EVERYTHING
2. Only follow the letter of the will DO NOT IMPROVISE OR INTERPRET last wishes. this is the job of a probate judge.
3. IMMEDIATELY get a really good family law/will/trust attorney (good ones are EXPENSIVE)
4. The opposing attorneys will be “contingency” layers who will work for a cut of ANY settlement as well as hourly fees.
5.Be prepared to be called every vile name in the book by people you would not expect. (and they will turn against you too)
6.Unless you are blessed, and there is no contention, it will still take several months in probate, and several months after to finally EXECUTE the will.
7. Seek help and counseling from a clergy person you can trust. You will start off strong, but the opposition lawyers main strategy will be to overwhelm you and wear you down.
Best of luck.
Sean
Probate courts sucks. Not following documentation can end up in court and a hassle and a loss for attorney fees.
Not signed is not signed... a year, a day, a minute isn't the issue. The issue is not signed.
Since he was dying of cancer a case could be made the cancer had gone to his brain causing recent changes to be questioned.
Was there a conflict of interest with the lawyer - possible dragging his feet so the new will would not be signed 'in time'?
As someone wrote up the thread, lawyers would be more than happy to fight this out until all the money's gone... I never even stayed at a Motel 6 so any comment I've made should be taken with a grain of salt.