Finance
My late aunt gave her husband a lifetime lease on her house, but her lawyer won’t even show us the will. Is this a bad sign?
Dear Quentin,
My aunt and uncle never had children, so they made a will in which their six nieces and nephews, of which I am one, would inherit their estate in equal shares upon their death. This property is located in Ohio. My uncle died and my aunt remarried years later, but never changed the will – with the only exception being a lifetime lease for her second husband. All her nieces and nephews are surviving males, and they can still inherit this estate.
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When she died, we were told by her attorney that we were responsible for taxes and property insurance during the time the tenant lived in the house. We were never allowed to see a copy of this will to confirm whether the lifetime lease was actually set up this way or not. Is it unusual for named beneficiaries not to be given copies of the will, or at least allowed to see them?
I did some research on lifetime leases and found that unless specifically stated in the will, the lifetime tenant pays taxes, property insurance and is responsible for the general maintenance and upkeep of the property. But because we have not received a copy of the will and requests to inspect it have gone unanswered, we do not know what it actually says. Nothing had to be investigated, so there is no copy of the will in the district court office.
What is our best story in this situation?
One of the remaining men
Dear restman,
Trust your Spidey senses. If something feels wrong, it probably is.
An executor or administrator of an estate must keep beneficiaries “reasonably informed” of the contents of the will after the probationary period has expired. What constitutes “reasonably informed” is a gray area, but when you’re asked (or told) to pay the homeowners insurance and property taxes on your aunt’s house, your expectation is that you’d like to see the instructions in black and white. not unreasonable.
You are also correct in saying that the person to whom the lifetime lease is made is almost always responsible for paying title insurance, taxes, and maintenance fees. Any other arrangement, unless specified in your aunt’s will, seems highly unusual. A tenant for life may even rent out the property in most cases, but may not do anything that would reduce the value of the home; Additionally, the lifetime lease may impact their ability to apply for Medicaid.
‘Suppose it has been months since a deceased person’s will was approved, but there has been no communication from the executor. This could be because the executor was not aware of his duty to keep the beneficiaries informed, but it could also be because there has been misconduct by the executor, and the executor is trying to hide this by withholding information. keep,” said the executor. Keystone Law Group.
“If beneficiaries fail to take action against an executor who may have engaged in misconduct, the estate may ultimately be irreversibly harmed,” the law firm added. “Ultimately, executors of wills must remember that they are fiduciaries who are obligated to act in the best interests of beneficiaries at all times. When an executor breaches his fiduciary duties, he exposes himself to legal remedies.”
In many states, the executor must provide you with an inventory and appraisal of the assets of your deceased aunt’s estate. In Ohio, it can take up to nine months for a will to be drafted, and creditors typically have six months to file a claim. If you want to replace the executor, you must go to probate court and prove that he is self-dealing, incompetent, or has some other conflict of interest. (Does he know your aunt’s husband?)
The good news: Once a will is approved in Ohio – assuming it is indeed approved – it becomes part of the public record and must be filed with the court. Depending on the province, courts may charge you a fee to access the will, or it can be viewed online for free. In addition to reading the will, you can also see any creditors or debtors of your aunt’s estate, and even the judge who presided over the will’s probation.
Your best options? Know your rights – and act on them.
Previous columns by Quentin Fottrell:
