So this happened on July 11th, 2021 in the great state of Florida. He was 58 y/o. I live in Michigan if that matters.
Now, to start, his Will was drafted in 2010 with his beneficiary being his then wife, and second would be to the Trust. A few years afterwards he divorced his wife, removing her from the Will. However, he never updated his Will to replace someone as the beneficiary, making the Trust the next option. He had 3 children, all with my mother. Due to myself being the only one who stuck by his side and had a relationship with him, he stated in his Will that his two daughters are to be presumed to have pre-deceased him. I have been informed by my attorney that at the end of the day, this means that everything he had goes to his Trust, then to only me.
I think it is important to state that my father and his ex-wife still had joint bank accounts. This is where I'm a little unsure of what is to come in the future months when the Trust is resolved and turned over to me. My dad had quite a bit of debt, most that I know of was $33k on his car, which we are just having repossessed, and another $15k for his boat which I am taking the same action. He really doesn't have more than a car full of belongings and debt at the end of the day since he rented everything and only his ex-wife owned their two homes on Marco Island and in Orlando. So my main questions are:
- Am I responsible for any of his debts, either required to pay them with the money from his IRA and Trust?
- Once my attorney and I go through the Florida probate court, what next? Am I just awarded his IRA or Trust and cut a check or what?
- Is there any way for me to find out what his IRA account and/or Trust even consists of?
- Does it matter that his bank accounts were still joint with his ex-wife?
- Are his debts assumed to have been both of their debts which would leave her with them?
I know there is a lot to unpack, some questions contained multiple questions, and my attorney will likely walk me through everything and make it pretty easy. I am trusting him but I just have so many questions. Anything is appreciated, whether answers, suggestions, etc. If more information is required, just ask and I will provide.
Submitted August 14, 2021 at 12:59AM by StarVulpes https://ift.tt/37Jt746
