Do I Have to Pay the Decedent Credit Card Bills and Medical Bills From a Joint Acct?
Video Summary
Do I have to pay the decedent’s credit card bills and medical bills from a joint account which was maintained during his lifetime and I the co-owner? The answer is no. Creditors are required to file their claims in a probate proceeding, and if there is no probate proceeding, they have no way to file a claim and no way to recover whatever bills that are owed. This even goes to Medicaid liens. If there are no assets in the decedent’s name, they’re not able to recover these and you have no responsibility to use the money that was in a joint account to pay the decedent’s bills. The joint accounts are by statute become the asset or the sole owner of the co-owner of account. So if you have any questions, give a call (727) 847-2288.
- Published in Medicaid Planning, Probate, Videos
Why Would I Need a Disposition Without Administration?
Video Summary
Why would I need a disposition without administration? You’re entitled to obtain this disposition without administration. If the funeral bill that you paid exceeds the amount of a bank account, so let’s say that you paid $3,500 for the funeral bill for the decedent, and they had a bank account which has $1,200 in it, you can then apply to the court, go to the probate court, and ask to file this petition for disposition without administration. Provide them with the paid funeral bill and also the information as far as the bank account’s concerned, and the court of the judge on interim order directing the bank to give you the money and without having to go through a probate proceeding. I believe there is a filing fee for that. So if you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Probate, Videos
Is There A Time Limit For Probate?
Video Summary
Is there a time limit for probate? No. the law is that as far as real estate concerned that the title to the property vested the beneficiaries or heirs the incident of death, probate is necessary to determine who the heirs or the beneficiaries are of the decedent to know who owns the property as of the date of death. So there is no time period in which to proceed with a probate proceeding. If there are bank accounts or whatever and the decedent’s name and probate didn’t commence, the banks will eventually turn the money over to the state of Florida’s unclaimed funds. And so they will sit there until the probate proceeding has been filed. So, there is no limit once the probate proceeding has commenced. The courts, the probate judges like to have the estate proceeding closed within one year. However, you can petition to extend the time period, for administration, giving them reasons why. If you have any questions give a call at (727) 847-2288.
How Do I Get My Deceased Parents Annuity?
Video Summary
How do I get my deceased parents annuity? The annuities are a life insurance product and they have a designated beneficiary. Most of the time, if it was your father’s annuity, he would’ve named your mother and vice versa. And they should designate an alternate beneficiary. But any about that is how you do it. If you’re the designated beneficiary, you have to send the death certificate to the company that issued the annuity or whoever purchased the annuity, and then they will send you the benefits of the annuity or give you any options as far as that’s concerned. So if there is no beneficiary or the beneficiary is deceased, then you must file a probate proceeding in order to obtain the annuity benefits. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Probate, Videos
Do I Have To Pay The Decedent Credit Card Bills And Medical Bills From A Joint Account?
Video Summary
Do I have to pay the decedent’s credit card bills and medical bills from a joint account which was maintained during his lifetime? And I am the co-owner? The answer is no. Creditors are required to file their claims in a probate proceeding, and if there is no probate proceeding, they have no way to file a claim and no way to recover whatever bills that are owed. This even goes to Medicaid liens. If there are no assets in the decedent’s name, they’re not able to recover these, and you have no responsibility to use the money that was in a joint account to pay the decedent’s bills. The joint accounts are by statute become the asset or the sole owner of the co-owner of the account. So if you have any questions, give a call at (727) 847-2288.
- Published in Estate Planning, Medicaid Planning, Probate, Videos