The past few months have not been great. At the end of October my grandmother died, and then a few days after Thanksgiving, my father passed away as well. My aunt revealed to me that my father had been left a small annuity by his mother, but he had not submitted it since he was so sick that he probably would never have seen any of it.
So, apparently the annuity would pass on to me and my brother.
I called the company that holds the money yesterday, and I was informed that I would have to have an estate set up for my father and go into probate. I have no idea what that means. Do I need a lawyer? Does this process take months and cost thousands of dollars? I believe my father still owed some child support (for the aforementioned brother) to the state - will this be taken out of the annuity?
I need some of the money just to pay for my dad’s funeral, but if it’s all going to be eaten up by the government and lawyers, then I’d just as soon not fuck with it at all.
My problem right now is that I don’t know what the hell I’m doing, and I don’t even know the correct questions to ask to find out how to learn what to do. I’m not soliciting legal advice, just some general hints on what I should do at this point. Thanks!
Sorry to hear about your Father’s ill health.
You need to contact a probate attorney. Check the yellow pages and find one that offers free consultation. For something this simple, I would be surprised if it would cost too much money.
However, we are talking about lawyers and their sole puprpose in life is to create billable hours. I am assuming that you and your brother are not arguing over this or anything else in the estate. If you are, you should try and iron all of that out (as best you can) before you go to an attorney.
As far as the back child support goes, it will most likely depend on Arkansas law. I would also caution you against people that will try and collect your father’s debts from you. This happened to my buddy when his wife died.
I was simply amazed at what so-called reputable companies were trying to do to get my buddy to pay for things in his wife’s name. If your name is not on the note/contract/agreement, tell them to kiss your ass. These are the kind of things that a competent attorney should be able to advise you of.
Best of luck.
Yes, you need a lawyer.
I’m sure you can find do it yourself books and advice on estate planning, but if you get fucked over, and you will, you won’t see a dime.
Pay a lawyer fee and get what is due.
Probate is basically taking care of your fathers debts. Which you can challenge, but no money or properties are given out until the probate is complete. At least it is here.
Edit: A lawyer is worth every penny, can’t believe I said that. Save your self a head ache.
So is it more likely for a lawyer to have a set fee for this type of service, or to take a percentage? I said the annuity is small, and I meant it. Something in the range of $18k, minus taxes, minus 3k for the funeral, minus the lawyer, and whatever is left split in half. Might not even be worth dealing with really.
I would bet that most probate attorneys are going to work on an hourly basis. If the situation is as simple as you describe, it would be foolish to have an attorney work on a percentage basis.
Even if you end up with $50 in your pocket, you should do it - just to wrap everything up. Sadly, this is part of life and I would encourage you to keep doing the right thing and see it to the end.
Call a lawyer and talk to them about it. I am guessing that your case will be relatively simple.
[quote]VanderLaan wrote:
I would bet that most probate attorneys are going to work on an hourly basis. If the situation is as simple as you describe, it would be foolish to have an attorney work on a percentage basis.
Even if you end up with $50 in your pocket, you should do it - just to wrap everything up. Sadly, this is part of life and I would encourage you to keep doing the right thing and see it to the end.
Call a lawyer and talk to them about it. I am guessing that your case will be relatively simple. [/quote]
For a simple probate, I would charge a flat fee. If it is more complex (people challenge a will, property in multiple states, etc.) it might go hourly.
You should contact an attorney, to make sure the debts are paid, any property is properly disposed of, etc. It really isn’t that difficult, esp. if he didn’t have any real property.
You might also note that your state may have probate forms available online, as well as a “how to” guide. You might be able to do this yourself, if you want to invest the time.
You are an attorney? I new there was something evil lurking underneath that smiling facade…
[quote]VanderLaan wrote:
You are an attorney? I new there was something evil lurking underneath that smiling facade…[/quote]
I’m an attorney, but I’m transactional, not litigation.
I’m the nice kind. 
I did one probate thing at my old job, but it was kind of a mess because the rich old dude had a wife, two ex wives, a couple of kids, a live-in girlfriend, a pre-nup, a trust, and a will. Everybody wanted something from him, including one old friend who had a written IOU for a million dollars for a bet or something.
[quote]pushmepullme wrote:
VanderLaan wrote:
You are an attorney? I new there was something evil lurking underneath that smiling facade…
I’m an attorney, but I’m transactional, not litigation.
I’m the nice kind.
I did one probate thing at my old job, but it was kind of a mess because the rich old dude had a wife, two ex wives, a couple of kids, a live-in girlfriend, a pre-nup, a trust, and a will. Everybody wanted something from him, including one old friend who had a written IOU for a million dollars for a bet or something.[/quote]
Are you at liberty to tell us what happened in the end? Were you present at the judgement? I bet that was pretty sweet.
[quote]VanderLaan wrote:
pushmepullme wrote:
VanderLaan wrote:
You are an attorney? I new there was something evil lurking underneath that smiling facade…
I’m an attorney, but I’m transactional, not litigation.
I’m the nice kind.
I did one probate thing at my old job, but it was kind of a mess because the rich old dude had a wife, two ex wives, a couple of kids, a live-in girlfriend, a pre-nup, a trust, and a will. Everybody wanted something from him, including one old friend who had a written IOU for a million dollars for a bet or something.
Are you at liberty to tell us what happened in the end? Were you present at the judgement? I bet that was pretty sweet. [/quote]
Sure!
I got the fuck out of that firm. 
It was a very bad place.
It shouldn’t be complicated. It’s just me and my brother and this one annuity, no fighting or anything. Thanks for the info everyone!
Another tip. Your state will likely have a probate court. You can contact the clerk of the court. S/he will be very used to helping untrained people through this process. My state even has a dumbed down probate process for simple estates.
I’d encourage you to contact the clerk of probate court and see what you learn before contacting an attorney.
Probate can be very simple. You create a bank account for the estate of the decedent and then publish notice (as the clerk can teach you) to creditors and devisees (people to whom something has been left by your father). Then you wait for an allotted period of time for creditors to come forward. Then, once debts are paid, any money left in the estate is left for the gifts your father left in a will. If there is no will, then he died what is called “intestate” and your state’s laws on inheritance will apply.
To sum up: call or visit the clerk of probate court in your area. If it seems overwheling or complicated, then call an atty. Most likely, you can do it yourself with a little patience.
P.S. I am also an attorney.
Want a horror story about this? My ex’s father died and her brother – a not too bright business-wise hippie – came out to manage it. After a week or so, he stopped by toting everything from the estate plus he was driving his father’s car.
He hadn’t transferred the car title to himself, so he had effectively stolen it.
He also only had a stack of personal letters and other memorabilia. I asked him where all the paperwork was. Remember this guy is an avowed anarchist too (seriously). “Oh, I threw them out.” His old man was a small time insurance broker. No record of any policies, bank statements remained. Nothing. He just took some letters and threw everything in the desk out. (!!) After grilling him for a bit, he got really upset and asked if I would become executor of the estate. Not just no but Hell no, said I. He drove back home (though he did finally get the title transferred). Yikes! Guess he showed “the System”… I’m still not sure he fully realizes what he did.
Definitely follow the advice of everyone here and get a lawyer if need be.
– jj