Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login
Site Notices
9/22/2017 12:11:25 AM
Posted: 2/18/2006 2:14:25 PM EDT
[Last Edit: 2/18/2006 2:15:02 PM EDT by FourStringSlinger]
Here's the story:

My bro passed away last summer [suicide]. He had no will. His only living relatives are our Mom and me.
He had 9 vehicles, including a 30 foot Airstream trailer.

Things are moving at a snail's pace, a lawyer in the family is supposed to be handling the situation, but getting him to return calls is next to impossible. Technically, as I understand it, my mother will be the beneficiary, so it falls on her to get this shit sewed up...lots of $$$'s are being spent trying to maintain the vehicles and storage unit wiyth his posessions etc.

Mu question...is it illegal to sell one or more if his vehicles to cover expenses? I'm thinking yes, but if we were to reimburse the estate, would that fly?

Thanks in advance...
Link Posted: 2/27/2006 2:26:32 PM EDT
I don't do any estate planning/probate work. But my recollection from law school is that the administrator can sell assets to pay expenses. HOWEVER, because there was no will and I think the administration is not independent, the court may have to approve. The attorney should be able to answer the question, but I guess that's the point of the post because he will not answer. Again, I don't do any of this type of work (and this isn't advice . . . disclaimer boiler plate language . . . ), but I think the answer is yes assets can be sold.

The question is whether approval is needed. The administrator would be the one to sell or contract with someone to sell the designated property. That money is the estate's money that would be used to pay the expenses. My recollection is that if there is no spouse or children, the next intestate beneficiary is the parents, which confirms what you said. Perhaps send a letter to the attorney, and if you want it to pack punch send it certified (with the green card) and keep a copy. Even if the attorney is doing it for free, he still has a fiduciary obligation to the client (your mom). I wonder what is taking so long if no one is contesting. There are requirements about notice, etc., but part of the problem is this not being a big priority for the attorney. Enough hounding and the attorney will move.
Link Posted: 3/2/2006 4:45:35 PM EDT

Originally Posted By BT7:
I don't do any estate planning/probate work. But my recollection from law school is that the administrator can sell assets to pay expenses. HOWEVER, because there was no will and I think the administration is not independent, the court may have to approve. The attorney should be able to answer the question, but I guess that's the point of the post because he will not answer. Again, I don't do any of this type of work (and this isn't advice . . . disclaimer boiler plate language . . . ), but I think the answer is yes assets can be sold.

The question is whether approval is needed. The administrator would be the one to sell or contract with someone to sell the designated property. That money is the estate's money that would be used to pay the expenses. My recollection is that if there is no spouse or children, the next intestate beneficiary is the parents, which confirms what you said. Perhaps send a letter to the attorney, and if you want it to pack punch send it certified (with the green card) and keep a copy. Even if the attorney is doing it for free, he still has a fiduciary obligation to the client (your mom). I wonder what is taking so long if no one is contesting. There are requirements about notice, etc., but part of the problem is this not being a big priority for the attorney. Enough hounding and the attorney will move.



Thanks for your help, it's much appreciated.
Link Posted: 3/8/2006 5:31:21 AM EDT
Sorry for your loss.
Short answer is YES
As the matter is before the probate court it is a rather simple matter to make a request of the Court for Letters Testamentary. These are used as a judicial substitute for a power of attorney in title matters for transfers of property such as motor vehicles which can be sold to fund the estate expenses and so forth as it moves forward to settlement. You buying the car wouldn't be very close to an arms length transaction if that is contemplated but given the only other taker under the will is your Mom and she is the appointed executrix (I assume) then there is little inherent conflict. I would transfer the vehicels , all of them into her name as a matter of course in order to make final disposition easier- some buyers may balk if the title doesn't appear clear from the seller and require anything unusual (to them) in the transfer of title.
Link Posted: 3/8/2006 10:00:24 AM EDT

Originally Posted By OldFalGuy:
Sorry for your loss.
Short answer is YES
As the matter is before the probate court it is a rather simple matter to make a request of the Court for Letters Testamentary. These are used as a judicial substitute for a power of attorney in title matters for transfers of property such as motor vehicles which can be sold to fund the estate expenses and so forth as it moves forward to settlement. You buying the car wouldn't be very close to an arms length transaction if that is contemplated but given the only other taker under the will is your Mom and she is the appointed executrix (I assume) then there is little inherent conflict. I would transfer the vehicels , all of them into her name as a matter of course in order to make final disposition easier- some buyers may balk if the title doesn't appear clear from the seller and require anything unusual (to them) in the transfer of title.



Thanks for the info, I've sent an IM also.
Top Top