My Brothers Estate

[ruffdog]

An executor has to be established and the estate will have to go through probate. Most times, a notice to creditors will have to be posted in the paper and also, notices will be sent out by executor to anyone and everyone that may be owed money. Debt will be taken out of the estate. All items will be listed on probate papers as well as all debt and accounts. Get a folder and start writing everything that you may tie together...banks...account numbers...addresses...etc.

Two good books to get from the library..."When Someone Dies" by Scott Taylor Smith pg 1-25 and "The Executor's Guide" by Mary Randolph pg 73-

The executor should establish a bank account for the estate. It is good having a solid money trail. The people at the county probate office are there to help you. Ask questions and keep notes. The lady at our office was a god-send as she helped us during the pandemic.

good luck

 

[KennyG]

As much as we complain about lawyers, a good one is really valuable in a case like this.

 

[EddieWalker]

An executor has to be established and the estate will have to go through probate. Most times, a notice to creditors will have to be posted in the paper and also, notices will be sent out by executor to anyone and everyone that may be owed money. Debt will be taken out of the estate. All items will be listed on probate papers as well as all debt and accounts. Get a folder and start writing everything that you may tie together...banks...account numbers...addresses...etc.

Two good books to get from the library..."When Someone Dies" by Scott Taylor Smith pg 1-25 and "The Executor's Guide" by Mary Randolph pg 73-

The executor should establish a bank account for the estate. It is good having a solid money trail. The people at the county probate office are there to help you. Ask questions and keep notes. The lady at our office was a god-send as she helped us during the pandemic.

good luck

Thank you, I'm looking at them on Amazon right now.

 

[RustyA]

Very likely a title search on the property should show if there is a lien/mortgage on it. Perhaps the DMV will take pity with license plate number and do a title search for lienholder. If not insurance agent may be of help with any loss payables listed on insurance policies?

 

[ruffdog]

Once it's over for your brother, get multiple death certificates, each credit card company wants a copy. They usually settle for 50 cent on the dollar but it depends on the estate. Is it going to be able to pay all the bills?

I should have just walked away from my mother's estate, it cost ME $12,000 to get out from under it since the lawyer put it all in our names (even though I told him not to do that). Once it was out of the courts, I had to deal with it.

The time to get enough death certificates for the estate is at the time of death....not a year later. They are harder to get and cost more later. Banks, insurance companies, everyone, will want a death certificate to roll over accounts, deeds, etc.

My wife just said..."start at 2 dozen".

 

[ruffdog]

Also start searching online:

Texas Probate Process | Elder Options of Texas.

 

[EddieWalker]

The time to get enough death certificates for the estate is at the time of death....not a year later. They are harder to get and cost more later. Banks, insurance companies, everyone, will want a death certificate to roll over accounts, deeds, etc.

My wife just said..."start at 2 dozen".

I was thinking 20, but now that I've been through some of his papers, 25 copies sounds better.

 

[ROUSTABOUT]

I'd get any valuables, safe, out right now.

 

[Streetcar]

The land is worth something, so if we sell it, that should pay off all his debt.

But for some reason, I'm not too excited to pay off his credit cards. What happens if they are not paid?

Sorry about your brother. All brothers debts will need to be paid before the land can be transferred, if in Ohio, Texas may be different

 

[Streetcar]

I was thinking 20, but now that I've been through some of his papers, 25 copies sounds better.

Check for Texas, in Ohio no volume discount for death certificates. $25 each, not hard to get more later