Inherited real estate

[Nikanit]

I have inherited a mobile home here in Alberta that was under my deceased mothers name, and when she died suddenly last year, it naturally went to my stepdad who was in a care home, and I managed things for him as I was the Power of Attorney as well as the executor of both my parents wills. What do I need to do now to sell the place? It stated in dad's will that if mom wasn't alive, that I was to inherit it. I want to sell the place ASAP and divide among my brothers and I to be fair

I cannot seem to find an answer. Confused. Never inherited anything before

[Digger1]

You’re gonna need your friendly neighbourhood lawyer to sort it out for a small fee. I think it took a few months to get my in-laws place sorted out.

[schmedlap]

As executor, you have to apply for and obtain probate of the Will of the legal owner in order to legally sell and transfer title to the mobile home, and to any other assets that were not subject to separate legal beneficiary designations. You will most likely need a lawyer's assistance. Your POA is terminated by decease of the grantor. You will also have to file terminal and estate tax returns for both deceased people.

[Nikanit]

I agree about having to get a lawyer. They owned the place outright and there was no debt. When Mom died I just assumed it to be dads automatically, and no one in all the paperwork chasing i had to do ever mentioned this to me, so i will head down to a lawyer.

[Dean2]

Since there were actual wills your job will be a lot easier, especially if none of your siblings start a legal fight.

Is the mobile home on its own land or a rented lot? If it is on its own land, go to land titles and get a copy of the title. This will show who's name it is in. You will need to get the will probated to be able to sell the land as executor. Once you know who's name it is in it will be easier to tell how much work it is going to be.

Phone a few lawyers and find one that is willing to quote a price. If you can't find one that will quote a fixed reasonable price you can apply to have the letters probate issued without a lawyer, it just means a little more research. It really isn't that complicated or hard, it is just forms you have to fill in and provide death certificate, will etc..

Make sure you apply for the CPP death benefit for both your mother and father, this will help offset burial costs. Locate any bank accounts and give them copies of the will and death certificate so the money is accessible to you to cover burial expenses. If your mother or father had private pensions ensure you notify the pension companies and see what, if any, death benefits there are. Also check for Life Insurance.

You also have to settle any secured debts, unsecured ones die with the debtor. If you google "Settle Estate with will and probate" you will find a ton of material to help. Best of luck and sorry for your loss.

[pikergolf]

For those that are smarter than myself. I am the executor of my fathers will. What does probate mean and can I do it without a lawyer being involved. Dads stuff is all cash if that matters.

[Dean2]

Originally Posted by pikergolf

For those that are smarter than myself. I am the executor of my fathers will. What does probate mean and can I do it without a lawyer being involved. Dads stuff is all cash if that matters.

Depending on how much cash, will or not and whether anyone contests the spend and distribution you may not need probate at all. In Alberta probate is only actually required if there is land not in joint name with the beneficiary.

[schmedlap]

Originally Posted by pikergolf

For those that are smarter than myself. I am the executor of my fathers will. What does probate mean and can I do it without a lawyer being involved. Dads stuff is all cash if that matters.

It depends on what kind of accounts or investments the cash is in, with whom, and whether any components have designated beneficiaries. Different forms of accounts and investments, and different institutions, have different rules in this regard. My Dad's estate was all cash, and some of it was just paid out to the designated beneficiaries, but about half of it had to go through probate in order to be paid out to the estate, and it is wise for the executor to hold at least some of it back until final filing of tax returns and obtaining tax clearance, due to potential personal liabilities. There may also be things like CPP death benefit, any other pension death benefits, tax refunds, etc. that will be paid to the "Estate of ....", and will need an estate account set up, which cannot be done without probate. Get legal advice on whether or not probate is needed or advisable.

[Roderek]

Originally Posted by Dean2

Depending on how much cash, will or not and whether anyone contests the spend and distribution you may not need probate at all. In Alberta probate is only actually required if there is land not in joint name with the beneficiary.

That may be true but banks usually need to see a probated will before they will release lump sums of cash, so that someone can't come back on them, saying they shouldn't have released it.

[Puma]

I thought you could not be the executor and a beneficiary in a persons will ?

[Talking moose]

Originally Posted by Puma

I thought you could not be the executor and a beneficiary in a persons will ?

Yes you can.