Get Your Deeds In Order - ISSUE TWO - Other Deceased Relative or Person Still on Deed

Yesterday, I discussed taking a deceased spouse's name off of your Deed. Today, we look at other deceased people whose names still appear on a Deed. In order to remove a deceased person's name off of a Deed, it has to be determined who received the interest in the property upon the person's death. Did the person hold title with the others as Joint Tenants with Rights of Survivorship or was the interest held as Tenants in Common?

Joint Tenants with Rights of Survivorship
If the property was held with rights of survivorship then the interest of the deceased person will go to the other owners named on the Deed. A new Deed can be issued with just the names of those currently listed with the deletion of the deceased person.

Tenants in Common
If the property was held as Tenants in Common than the interest of the deceased person will be distributed in accordance with the person's will or if the person died without a will the interest will be distributed in accordance with the state's intestate laws. This could get very complex and confusing. But, it must be addressed because it will continue to grow more complex otherwise. For example, what if the deceased person's heirs are also deceased? Who did those heirs leave the property to? And it goes on and on the longer one waits to clean up family Deeds.

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Probate - Your Questions Answered

I address so many questions from clients going through the probate process. These questions are raised by beneficiaries under the will as well as executors. Here are a few with the answers.

(1) How do I know what I get under the will? The will is a public document. You can obtain a copy of the will from the register of wills if it the executor does not provide you with a copy.
(2) When do I receive my share? All debts must be paid prior to any distribution of assets to beneficiaries. This would include final funeral expenses, last medical expenses, taxes and all other debts. A notification placed in the paper regarding a death puts creditors on notice and gives them the opportunity to present their claim if it is not already known to the executor.
(3) Do I pay inheritance taxes on what I receive? Inheritance taxes must be paid. If the executor does not pay the taxes out of the estate, the beneficiary (the one receiving the asset) must pay the taxes. Since the executor is responsible for the complete administration of the estate, it would be prudent for the executor to make sure the inheritance taxes are paid prior to making distribution.
(4) How do I transfer real estate located in another state? This question is often raised by executors when the deceased person lived in one state and owned real estate in another state. If the property was owned jointly with rights of survivorship, then it would pass to the surviving owner without going through probate. However, if the person was the sole owner or was a joint owner (without rights of survivorship) then the real estate interest will pass through probate. The executor would have to open up probate in 2 states.
(5) How can I successfully challenge the will? A challenge to the will would have to be based upon its validity. Was it executed in accordance with the legal requirements in the state? Was the decedent of sound mind? Was the decedent under undue influence or duress? The evidence would have to support the allegations. It may be costly and it would delay any probate.

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