Susan met John, the love of her life and married him at age 50. She owned a house as her sole and separate property. She has two adult children from her previous relationship. She planned to leave her house to her two adult children. Too busy living, she died without a will. Who inherits the house?
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Mary, a married woman, holds title to a real property as her sole and separate property. Her husband signed a disclaimer deed. They have a child in common. They have no other children. She dies with a will giving all of her sole and separate assets to their child. Who inherits the property?
Mary, a married woman hold title to a real property as her sole and separate property. Her spouse signed a disclaimer deed. She and her husband have one child. They have no other children. Mary dies without a will. Who inherits the property?
Last Monday I OD on Benadryl. I read the box, it says "do not exceed 6 tablets in 24 hours." I took 5 in 3 hours. (I started with 2 tablets, but they did not work...) Long story short, I woke up David and said I could not feel my left arm.
He called poison control; next thing I knew the paramedics were there, and so was the ambulance. As they loaded me into the ambulance, I told my husband "Honey, don't come with me, it would be a long night! Go to bed. AND HE DID! When I was in emergency room, one of the first things the nurse asked me if I have a Living Will. I said YES. Can you say yes if you are in the same situation? How about your parents? Adult children? Your best friend? Few things are brought to a successful issue by impetuous desire, but most by calm and prudent forethought.
Napoleon Bonaparte Don’t you agree that it is easy to talk about sports and weather? It is very difficult to discuss life, and death with people, even with your love ones. HOWEVER, these are important subjects.
When you are not able to communicate, the Doctors are not able to decide what to do for you. If family members disagree with each other; or they disagree with the doctors, they may need to go to court to obtain authority to direct medical care. That is why it is important to complete your advance directive – a living will and POAs; otherwise, doctors and relatives make critical decisions for you that might not be based on your wishes. Decisions about medical care are deeply personal, and are based on your values and beliefs. Talking with your loved ones, your healthcare providers, and even your friends are all important steps to make your wishes known. These conversations will relieve loved ones and healthcare providers of the need to guess what you would want if you are ever facing a healthcare or medical crisis. I have Real Estate investments and a legal document preparation business that my husband is not a partner of. I have a business checking account on which I am the sole signer. What happens to my business if I have to travel overseas, or I’m injured and put in a hospital?
There is nothing my husband can do for my business. UNLESS, I give him a Power of Attorney. Do you have a similar bank account where you are the only signer? Or real estate where you are the sole owner? You can even create a limited POA to handle these temporary needs. I work with three CPAs in an office. Sometimes, I hear stories that make the hairs on the back of my neck rise!
A lady came to our office to meet one of the CPAs. She mentioned to the CPA that her brother was very ill, and he might not make it through the weekend. (Unfortunately, he did not.) She said “I had everything, I had a power of attorney (POA) over him to take care of his stuff….” Unfortunately, she did not know that the POA become worthless the moment he die. Two dads want to give their houses to their sons after they pass away....
One dad created a will, and the other added his son to the deed. Which one do you think make an easier choice? Which father, do you think, carry a higher risk of loosing the property? Which son, do you think, has better inheritance? And gets to pay less tax? |
Katrina OaseI am a Legal Document Preparer. I would like to share some thoughts and messages with you. Archives
April 2015
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