Legal Question in Wills and Trusts in California

Inheritance

My sister is the Executor of my mother's will. She is on the checking account and not handling everything appropriately. Mother just passed away 6 weeks ago. There are outstanding loans Mother made to individuals. We children have verbally agreed it would be okay for these individuals to continue to repay the loans monthly. What is the best way for these monthly payments to be disbursed to us on a monthly basis without paying taxes? My sister and brother both borrowed $10,000 each from Mom, I did not and my bother and sister both want me to receive the loan payments until I am paid a match amount of their loans, what is the best way to handle this transaction?

Thanks

B. Daniel


Asked on 8/09/04, 7:45 pm

1 Answer from Attorneys
Scott Linden Scott H. Linden, Esq.

Re: Inheritance

If this is a will and not a trust, is it in Probate? Was there a total GROSS value of over $100K?

Your question has many levels so it might be best if you first review the information we provide on our web site about the Probate process. The site is www.No-Probate.com. We, obviously, prefer trusts to avoid Probate, but if it is too late in your case we may still be able to provide you with some assistance or at least direction.

Please take a moment to look over the information we provide and if you still have additional questions, please feel free to contact me directly through No-Probate.com or at (626) 578-0708.

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Answered on 8/10/04, 2:39 pm


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