Re: Inheritance Question and State Police Advice - Friend Needs Help
Simple: Talk to a lawyer.
Re: Inheritance Question and State Police Advice - Friend Needs Help
I'd just walk away and tell the bitch not to bother me.
Re: Inheritance Question and State Police Advice - Friend Needs Help
Quote:
Originally Posted by
JDshoots
Of course I default to the above contributorS. My concerns were the next of kin kind of stuff, If there is NO will, then what? And with this guy getting involved what's his liability? I mean the girlfriend said there is one, but ....
Noah, you say if there is no will the state appoints an executor, what, if people disagree? I mean if both parties just walk away from it what then?
Inquiring mind's would like to know:)
Without a Will, the rules of intestacy apply.
It's not uncommon for people who die without homes or cars or much money to NOT have an estate raised, and there's even an informal procedure for resolving small estates. I suspect that a lot of widows don't formally do anything much except continue living in their home (especially if owned by the entireties) and doing what they did before, albeit with more choice as to what they watch on TV.
But there are some things that require that someone be the administrator, including the disposition of firearms, legally. Otherwise, police tend to seize them, hold them, and eventually forfeit them. You also need an admin to empty bank accounts, sell off estate property, publish legal notices, pay off the creditors, etc.
If no estate is raised, then anyone with a stake in the assets can apply to be the admin. That includes major creditors. Let's say you owe the bank for your home, and the family walks away after you die. The bank needs someone upon whom they can serve the foreclosure papers, and if nobody steps up, the bank itself will send someone in to apply to be the admin. Alternatively, if you end up holding serious property of a decedent and there's nobody representing the estate, you might find it worthwhile to appoint someone to receive that property on behalf of the estate and give you a valid receipt.
Re: Inheritance Question and State Police Advice - Friend Needs Help
Re: Inheritance Question and State Police Advice - Friend Needs Help
Quote:
Originally Posted by
GunLawyer001
The only caveat is if the Will says "my nephew the felon gets my guns" or otherwise specifies an unlawful act. If the named heir is ineligible to get the bequest, they don't get that bequest. If the girlfriend is a prohibited person then she is still prohibited no matter what...
Looking a little closer at the finer grains.....could it be argued (and be the default) that if a prohibited person is willed the guns, that even though they cannot take possession of them, they're still entitled to the equivalent value? Presumably by putting them up for sale on the open market and giving the proceeds (minus sales costs) to the prohibited person? If that IS true, is the executor required to put out that effort? Can the executor say, "not bothering with that" or refuse to consider this finer issue? Will the prohibited person have a strong case if we're talking $5000 worth of guns and files a claim against the estate for $5000? Or the executor for that amount?
Re: Inheritance Question and State Police Advice - Friend Needs Help
Quote:
Originally Posted by
free
Looking a little closer at the finer grains.....could it be argued (and be the default) that if a prohibited person is willed the guns, that even though they cannot take possession of them, they're still entitled to the equivalent value? Presumably by putting them up for sale on the open market and giving the proceeds (minus sales costs) to the prohibited person? If that IS true, is the executor required to put out that effort? Can the executor say, "not bothering with that" or refuse to consider this finer issue? Will the prohibited person have a strong case if we're talking $5000 worth of guns and files a claim against the estate for $5000? Or the executor for that amount?
The prohibited beneficiary can sell off the guns using an FFL. IANAL.
Re: Inheritance Question and State Police Advice - Friend Needs Help
Quote:
Originally Posted by
free
Looking a little closer at the finer grains.....could it be argued (and be the default) that if a prohibited person is willed the guns, that even though they cannot take possession of them, they're still entitled to the equivalent value? Presumably by putting them up for sale on the open market and giving the proceeds (minus sales costs) to the prohibited person? If that IS true, is the executor required to put out that effort? Can the executor say, "not bothering with that" or refuse to consider this finer issue? Will the prohibited person have a strong case if we're talking $5000 worth of guns and files a claim against the estate for $5000? Or the executor for that amount?
Yes, and one of the high courts(state or fed, cant remember) ruled something similar in the past 8 years.
While a prohibited person may not possess firearms, they are entitled to their value.
If the executor and only living heirs are all prohibited persons, none shall be in direct possession(control and custody) of the firearms. It would be up to the executor to find a lawful 3rd party to handle the firearms so that they can be converted into their monetary equivalent.
Re: Inheritance Question and State Police Advice - Friend Needs Help
Quote:
Originally Posted by
GunLawyer001
Estates almost always get ugly.
Like Dr. Seuss said "that is truer than true"