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Question about wills?

Tinkerer

Senior Member
Joined
May 21, 2009
Messages
9,342
Location
The shore of the illinois river USA
As far as your house & contents..
There’s this thing called a SURVIVORSHIP DEED..
U and your significant other sign a contract & u file it w your county office.. So when 1 or the other passes.. the house and contents are AUTOMATICALLY transferred to the other with NO WAITING ON PROBATE COURT.!!
I went thru this and was afraid I was going to get kicked out of MY HOME.. so I called and asked..
The county official said the probate can take up to a year.. UNLESS U have a survivorship deed..
I yelled. I HAVE 1..(lol) she said then it’s yours and NOBODY can kick u out..

In Illinois that type of deed is called a sole right of survivorship.
There is a downfall to them tho, at least for me, and that is, my wife has developed a severe case of dementia.
I will be talking to an attorney about what to do about those deeds as soon as I get full protection from my Covid shots.
I get the second shot this coming Friday. YAY !!
 

Tunneldigger

Well-Known Member
Joined
Aug 9, 2017
Messages
54
Location
Southeast Iowa
Occupation
Farmer with a job in town
I am the executor of an estate as we speak. I thought everything would be cut and dried. Well his late wife who died in Columbia has no death certificate. They had a joint checking account. I took that money and put it into a estate account and started paying his bills. The bank wanted a death certificate, which I can't produce and they took the money out. They then put it into the old account and sent me a letter stating I am personally responsible to restore the account back to time of death. I started another estate account at another bank and have sold the house so I got money again. Fifty four thousand dollars sits in the first bank on their balance sheet that I am unsure what will happen to. Then the kicker to all this is, she was still getting social security checks sent to Bogota. I am sure her family has a joint account and enjoyed 7 or 8 thousand a year since 2014. I found this out unofficially from a social security agent. It has been 4 months since I called the inspector general and they stopped payments. There has been no " where are my benefits?" To date from her.
The whole point is get it done!!! Inheritance is a gift from one generation to the next. Your executor will have to send a letter to all known heirs notifying them of your death. They, as far as I know can't contest what you lay out unless it is something really out there. I was in contact with the banker when I had power of attorney and could have transferred the money into another account, but I didn't in any way want to be perceived as a gold digger.
Back to what I said earlier, get it done!!!!
 

Tones

Senior Member
Joined
Mar 15, 2009
Messages
3,062
Location
Ubique
Occupation
Ex land clearing contractor, part-time retired
My will quite clearly states that those who choose not to be part of my life won't be part of my death. Another way of circumnavigating the BS after you die is to divide up and give to those you think are deserving before you die
 

Welder Dave

Senior Member
Joined
Oct 11, 2014
Messages
12,260
Location
Canada
Wills and inheritance bring out the absolute worst in some people. Too sad. Maybe the idea of spending all your money or donating it before you pass is the best way to do it.
 

Tones

Senior Member
Joined
Mar 15, 2009
Messages
3,062
Location
Ubique
Occupation
Ex land clearing contractor, part-time retired
Wills and inheritance bring out the absolute worst in some people. Too sad. Maybe the idea of spending all your money or donating it before you pass is the best way to do it.
And another upside of doing that is when the people who missed out find out you can stick a bur under their saddle n die with a grin on your face.
 

DMiller

Senior Member
Joined
Feb 21, 2010
Messages
16,434
Location
Hermann, Missouri
Occupation
Cheap "old" Geezer
I set up a trust some years ago, was before many of the nieces and nephews got all important feeling where we are pretty well left out as relatives, wife tried being insistent as to a great Niece getting something and I said NO as she has next to nothing to do with us unless needs money. Wife wanted to make sure everyone got something and I chose a different route, decided only the two nephews that gave a crap enough to call and check on us or did not argue politics with me would get it all. The one in TX and the other here are listed as co-executors of the estate, it is controlled by them to divvy out as THEY see fit(Written Instruction NOT in the Trust) not as wife wanted it should we both part at same time(Cycle wreck?) or I survive the wife and pass last. Wife has NO Clue as to how the world runs, wanted little part of getting it written and was rather snippy as placed nephew on my side as TOD on machine titles. Ours is revocable, can change it at will where I know can be challenged in courts but usually are not.

Not worth a lot, have some investments moneys flowing in and some value to property is about all. Just do NOT want Uncle Sam or State to get it all. Wife has a few dollars in jewelry, have some antique pieces from relatives in my safety deposit box. Have some firearms worth considerable cash and some personal antiques left from my Mom that should stay with nephew on my side. Tools and such I will likely disperse over the next few years as my arthritis gets worse, farm machines will get hauled to wife side nephew's place to use as he sees fit until so worn out he has to replace them. Farm will more than likely be sold off before die but is listed for now until it too goes away where the kids can negotiate sale of it. Whatever property we own at the end will be sold and cash dispersed as the executors see fit, do not care/will not care after gone as they will receive it all!!

Want to add, Great Grandfather on Dad's side got pissed off by my Grandmother(His Daughter), he to keep her from challenging his will left her $1, the estate pays ANYTHING in the old days you could not challenge, do not think that holds today. Never found out what she had done, went to her grave with her and her kids(Dad, my Uncle and Aunt).
 

Tones

Senior Member
Joined
Mar 15, 2009
Messages
3,062
Location
Ubique
Occupation
Ex land clearing contractor, part-time retired
All the things in this thread I'll never have to worry about
I'm going to die without any enemies cause I'll outlive the barstards. :D
 

DMiller

Senior Member
Joined
Feb 21, 2010
Messages
16,434
Location
Hermann, Missouri
Occupation
Cheap "old" Geezer
Still get teary eyed watching it and KNOW its all a fantasy movie, strikes a chord with me.
 

Tones

Senior Member
Joined
Mar 15, 2009
Messages
3,062
Location
Ubique
Occupation
Ex land clearing contractor, part-time retired
A true yarn of a old farmer here who lost his farm due to the misbehaviour of the large banking corporations and who had bankrupted him. After the dust settled he started getting credit card applications so he filled them out, sent them back and low and behold cards started arriving. He never repayed any money so the banks kept upping the credit limits. There was a vital bit of information the banks had know idea about, the old bloke was dying and shortly before his death he held the biggest wake the district had ever witnessed. He had mixed out every card including paying for his funeral. A bankers rep called around trying to find out where the old farmer was so the problem of the monies owed could be addressed. The rep was a day late. So you see even after death Kama rules
 

lantraxco

Senior Member
Joined
Jan 1, 2009
Messages
7,704
Location
Elsewhen
The lawyer that wrote up my Dad's trust put a clause in there, if anybody challenges the trust in court, they lose anything they may have had coming from the trust. Maybe not bulletproof, but should give some pause. In our case it's just my brother and I, with one daughter apiece. Now if the spouses stay the hell out of it, should be a piece of cake right? What are the odds.....
 
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