Legal Question in Wills and Trusts in Alabama
Will
My father passed away and his will was made several years ago. What do I do if in that will it mentions an estate. And that estate he sold just before he died, and never changed his will? Thank you!
1 Answer from Attorneys
Re: Will
When a will refers to an "estate", it is referring to the entire collection of things a person owns, real estate, personal property, bank accounts etc. Everything that is listed in his name is part of the estate. Some things pass by operation of contract, such as payable on death accounts, joint tenancy real estate and anything listed in two peoples' names. While your father may have disposed of literally everything he owned prior to his death, chances are there are some things he still held onto. Your question though, what do you do if nothing is left- well, when a will refers to an asset that cannot be found or has been disposed of, that is called a lapsed gift and it is ignored for probate purposes. Hope that answered your question. Call a lawyer if you need anything additional.
William G. Nolan
www.NolanElderLaw.com
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