OK folks, here are the facts: My uncle died in LA two weeks ago. My parents and I searched his apartment for a Will but found nothing so far. May it have been overlooked? Yes. We found many statements of investments in various credit unions and stock trading companies. We found lots of coins. My uncle had told my mother many times, that as his relationship with his brother was horrible, he was going to leave all of his money to my sister and I. My other uncle, had some serious emotional issues and a bad relationship with his brother, my Uncle who died. The living Uncle borrowed money from the dead Uncle, and didn't pay it back. He did the same thing to my parents. He threatened to kill himself if my parents didn't loan him the money that he never paid back. I found documentation of the financial disputes between my living and deceased uncles. It appears he also owed money with interest to my dead uncle. I found a beneficiary form for one of my dead Uncle's accounts, where my living uncle and my mom were listed as the primary beneficiaries and my sister and I listed as the secondary beneficiaies. My living uncle's name had been crossed out. We've been told that as the assets were more than $300,000, the case has to go to probate court, especially because we could not find a Will. My living uncle didn't come to the funeral or the burial. His first email upon hearing of his brother's death, listed his issues with his brother and "Rest in Peace but I want nothing to do with any of this". My parents have hired an estate attorney to deal with these issues, but they keep forgetting to mention important details to him, like the beneficiary form that we found and the letters detailing financial disputes. My mother doesn't want to leave my uncle out in the cold, and I agree that we should give him something. My concern is that he would just throw it away on another financial scheme. But I can accept giving the guy $50,000 or so...but the great majority of the money should go to my sister and I, as these were my Uncles wishes. What can I do to make sure this happens? I am thinking of flying out to California again, to search that apartment with a fine tooth comb, for that Will. It should be there somewhere, as he kept sooo many records of financial things. What else can I do?
Did he ever say he had a will? Did your uncle have a lawyer? Sometimes they keep a copy. Have they found any records of him having a safe deposit box? I realize you all have probably thought of those already but without the will you may have a hard time getting what you want unless the other family members just agree to go along with it. The fact that your other uncle may blow the money on stupid things won't be a good enough reason for the judge to keep him from getting his equal share. And sorry for your loss.
Don't know if it applies in California, but in some states, wills can be recorded with the court clerk. You might look into that.
his main bank said he has no safety-deposit box. we saw the name of a few lawyers that he worked with over the years, I hope the estaate lawyer my parents have hired will contact these guys about a copy of a Will. I am seriously considering flying back to Cali, to search again for that Will. I could be under boxes, under couch cushions, under the matress, who the hell knows where it is. it means the difference between me and my sister having a good financial future, and not. it means the difference between my baby niece having a good college fund, and not.
Unlikely there is anything you can do about it. My understanding is that if he still had the beneficiary form and never sent it in, then it is worthless. In my state, a copy of a will is no good either--the Courts only accept the original for probate and administration--so that depend on what the state laws are. If you want to go look that is your prerogative, but is it still going to be a worthwhile trip for you if you find nothing (i.e. can you afford to eat the loss of time and plane ticket for nothing)? If he lived in an apartment, then I assume that whomever is in charge of the estate will be clearing the thing out soon to avoid having to pay rent.
well, he had two IRAs and two stock trading accounts. all four have a beneficiary form that I must assume he filled out and mailed in years ago. spending $350 to fly to and from LA and maybe $100 on lodging and food, to possibly find a Will that gives me maybe 50% of $375,000....is worth it.
To the best of my knowledge, whoever his beneficiaries of record on those at the time of his death are are the beneficiaries if they are alive. If they are alive, then it wouldn't even be in his estate in my state. Otherwise it seems as if the California intestate succession laws will control. Whoever administers the accounts should be able to tell the person in charge of the estate who the beneficiaries are if they exist.
First of all sorry for your loss. Secondly whether your living Uncle was and is a jerk really isn't material. My mother doesn't want to leave my uncle out in the cold, and I agree that we should give him something. My concern is that he would just throw it away on another financial scheme. But I can accept giving the guy $50,000 or so...but the great majority of the money should go to my sister and I, as these were my Uncles wishes. From what you have laid out to us, I don't think you have any legal claim to any of this- your mom does- and your Uncle. Sadly, if your deceased Uncle's wishes were that you and your sister be his heirs, he should have taken steps to make sure that happened. May I suggest that this would be a good opportunity to have a discussion with your parents a regarding their estate? Just so that there is no confusion if something happens to them. On the plus side- we are having a very mild winter in California- nice time to come out for a trip anyway- and as you said you might find something in his apartment. And the less scrupulous side of me would suggest that if a complete inventory of his apartment has not been completed yet- as you look around, secure all valuables and either lock them away, or give them to your mother- or keep them.
valuables have been taken by my sister to northern cali. I have also learned that regardless of the lack of a Will, all investments and IRAs that have designated beneficiaries upon death, will be dispersed to said beneficiaries. I know that the vast majority of the money was in these accounts, and if beneficiaries are listed that means there is no need for probate court as the estate, being all funds not with designated beneficiaries, is much less than $300,000. I just have to hope and pray that my uncle updated his beneficiaries to reflect his current wishes.
Fascinating. My father chooses to believe that my uncle did not fill out beneficiary forms. He seems to want to go to probate court and want the judge to split the money between my uncle and my mom. I told my dad, that I will look out for the best interest of my sister, my niece, and I. If all of the accounts had listed beneficiaries and this favors me and my sister over my uncle, this needs to be respected.
Ron, just a friendly thought here. The estate lawyer your parents are working with has probably already contacted the funds that hold your late Uncles accounts and notified them that he has died- and asked them if any beneficiaries were declared. Find out what the funds say- don't get in argument with your dad about it- the facts should be very simple and clear- either the funds were told who the beneficiaries were or they weren't. If they were, the funds I believe will be obligated to distribute them as they were instructed. Talk with your mother and father and find out what the funds have actually said, rather than let speculation by anyone cause problems in the family.
