Legal Question in Wills and Trusts in New York

Dad has no will & his only assets are bank accounts In Totten trust to me. He is very ill in nursing home & they started process of applying for guardianship because he never appointed Power of Attorney & can't do it now because of his dementia. He will likely pass before this guardianship process is completed. I live out of state, caring for husband with cancer & am not up for taking on burden of his several months of unpaid bills. If I want to hire someone to handle these admin duties how does that work with the Totten trusts? Do I turn the the money over to myself first & does the administrator then create an estate account out of that?


Asked on 3/02/10, 5:25 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Q. If I want to hire someone to handle these admin duties how does that work with the Totten trusts?

A. Before or after your father passes? If it is after his death, you would simply file the death certificate with the bank and the money should immediately be placed in your name. If there are no assets in your father's name, there is no reason to file an administration proceeding.

Mike

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Answered on 3/08/10, 5:16 am


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