Legal Question in Wills and Trusts in California
probate- I took a loan from accelerated inheritance, contingent on the sale of my mother's home in 2004.
The house sold for less than we thought it would. The owner of Acclerated Inheriance did not receive the total amount, but signed off on the probate papers in 2007, stating requirement of Probate Code 11604 had been satisfied. Now inn 2015, my mothher has some stock with unclaiimed property and they are trying to take that ...can he accelerated inheritance take those moies
2 Answers from Attorneys
After a careful review of all the paperwork involved my opinion is ....... wait no paperwork, so no opinion.
It depends on what the probate court's order for final distribution says. There's usually a clean-up provision in the order that specifies what happens to any estate assets that are discovered later, such as these unclaimed accounts. If that portion of the order says that these assets would go to the lender, then the lender should get it. If the order says that only a portion of these assets go to the lender the lender gets that portion. If the order says it goes to you then you should get it.
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