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I need legal advice regarding father in law's estate- PLEASE
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<blockquote data-quote="hearts and roses" data-source="post: 449645" data-attributes="member: 2211"><p><span style="color: #8b4513">Thank you keista. There was a will and there were no stipulations about our home. Everything automatically will go to mother in law if her name was on it (whatever property, accounts, etc.) but the items, such as our home, that were solely in father in law's name need to be processed through probate so they can be transferred to mother in law's name. There are a couple of accounts in FL that were solely in father in law's name that she will need to process through probate in FL. </span></p><p><span style="color: #8b4513"></span></p><p><span style="color: #8b4513">So you're saying that through probate court, we could have the title of the house put directly into our names but keep the mortgage the way it is for the time being. Then, we can go ahead and get a mortgage for whatever the balance is on the existing mortgage and just pay off mother in law with the end result being the house is in our name and we secured our own mortgage...and mother in law is out of it completely. Correct? </span></p><p><span style="color: #8b4513"></span></p><p><span style="color: #8b4513">Also, it is best for us to actually PURCHASE the house from mother in law rather than receive it as a gift because the tax burden will be greater, correct?</span></p><p><span style="color: #8b4513"></span></p><p><span style="color: #8b4513">I printed out your post so I could fully understand it and jot down some relative questions for when we meet with the attorney. I want to make sure I ask all the right questions and find out which scenario is best for US. I feel like we're so close to getting this matter behind us and I'm not going to allow H to mess it up. And if there is any monkey business concerning his mother or him, I'm feeling ready to walk. I'm just so sick of the entire thing, honestly. I've been after him for YEARS to get this straightened out and now this. Ugh. Thanks!!! </span></p></blockquote><p></p>
[QUOTE="hearts and roses, post: 449645, member: 2211"] [COLOR=#8b4513]Thank you keista. There was a will and there were no stipulations about our home. Everything automatically will go to mother in law if her name was on it (whatever property, accounts, etc.) but the items, such as our home, that were solely in father in law's name need to be processed through probate so they can be transferred to mother in law's name. There are a couple of accounts in FL that were solely in father in law's name that she will need to process through probate in FL. So you're saying that through probate court, we could have the title of the house put directly into our names but keep the mortgage the way it is for the time being. Then, we can go ahead and get a mortgage for whatever the balance is on the existing mortgage and just pay off mother in law with the end result being the house is in our name and we secured our own mortgage...and mother in law is out of it completely. Correct? Also, it is best for us to actually PURCHASE the house from mother in law rather than receive it as a gift because the tax burden will be greater, correct? I printed out your post so I could fully understand it and jot down some relative questions for when we meet with the attorney. I want to make sure I ask all the right questions and find out which scenario is best for US. I feel like we're so close to getting this matter behind us and I'm not going to allow H to mess it up. And if there is any monkey business concerning his mother or him, I'm feeling ready to walk. I'm just so sick of the entire thing, honestly. I've been after him for YEARS to get this straightened out and now this. Ugh. Thanks!!! [/COLOR] [/QUOTE]
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I need legal advice regarding father in law's estate- PLEASE
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