[WSBARP] To probate or not to probate
Richard Wills
richardwills at washington-probate.com
Wed Mar 4 09:22:57 PST 2015
*I've been in this situation many, many times, & Jeanne expresses my
experiences with it. Moreover, I've had bank counsel call me after a
foreclosure & beg me to have the heirs remove all the TPP from the
house, to reduce the bank's expense. **Decedents in these matters are
usually ho**arders & l**eave their home piled high with years of
accu**mulations**--- oh, my!, what a mess!** In one of these cases I
had, the Decedent was a doll collector, & you should have seen the
hundreds of dolls, piled high, many in unopened boxes. God only knows
all the $$$ she must have spent on them. I called the heirs & met them
to go through the house & take what they wanted, although most of the
dolls & everything else was left for the bank. Lucky them!*
On 3/3/2015 10:07 AM, Jeanne Dawes wrote:
>
> My inclination is to walk away. The retirement funds proceeds are not
> subject to creditors claims. My experience with lenders and property
> underwater, is that they are almost impossible to work with. They
> want to treat the PR like he or she is the borrower. Can’t do
> that. I’ve tried on many occasions to get the lender to accept a
> deed in lieu, and it has taken months and months for that to happen,
> in the meantime, the lender has no problem starting a foreclosure
> action. It makes no sense.
>
> As to removing the personal property from the home, that is not part
> of the lender’s security, but the value of it could be subject to
> creditor’s claims. I guess it would depend on the value. If there is
> a high value, it might be worth opening a probate in order to comply
> with the creditor claim process and see what’s out there. My
> experience is lenders do not typically file a claim against the
> estate. If the personal property only has sentimental value, and she
> is the sole beneficiary, I don’t think anyone would raise the issue.
>
> Others may have a different experience or opinion. Hope this is helpful.
>
> /Jeanne/
>
> */Jeanne J./**//**/Dawes/*
>
> Attorney at Law
>
> Gore & Grewe, P.S.
>
> 103 E. Indiana Avenue, Suite A
>
> Spokane, WA 99207-2317
>
> Voice: 509-326-7500
>
> Fax: 509-326-7503
>
> jjdawes at goregrewe.com <mailto:jjdawes at goregrewe.com>
>
> INFORMATION CONTAINED IN THIS E-MAIL TRANSMISSION IS PRIVILEGED AND
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> *From:*wsbarp-bounces at lists.wsbarppt.com
> [mailto:wsbarp-bounces at lists.wsbarppt.com] *On Behalf Of *Margaret Delp
> *Sent:* Monday, March 02, 2015 2:18 PM
> *To:* wsbarp at lists.wsbarppt.com
> *Subject:* [WSBARP] To probate or not to probate
>
> Hello Everyone:
>
> I have a hypothetical low income client who is the sole heir at law to
> her daughter’s estate. Daughter died intestate. Estate has 2 assets
> – a home which is slightly “under water” and a very small 401(k)
> account which designates the client as beneficiary. The lender sent a
> Notice of Pre-Foreclosure Options to the family because of failure of
> the decedent to make a mortgage payment. Neither the client nor the
> estate has the money to pay for a probate.
>
> Question 1 – if the client walks away from the estate, and allows the
> house to go into foreclosure, are there any negative ramifications for
> the client? She has already received the distribution from the 401(k).
>
> Question 2 -- Client has access to the house. Can client (who is the
> only heir) take possession of the personal property of decedent before
> bank forecloses – in other words, can she and the other family members
> who all get along clear everything out the house without a probate?
>
> I’d appreciate your thoughts.
>
> --Margaret
>
> --
>
> Law Office of Margaret Delp
>
> 2815 Howard Road, Second Floor
>
> P.O. Box 292
>
> Langley, WA 98260
>
> (360) 579-4530 (telephone)
>
> (360) 512-3114 (facsimile)
>
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