Settling an estate: advice needed!

JHS
Thu, 20 Jan 2011 16:40:18 +0000

For what it is worth, I would NOT “sign over executor powers” to a lawyer. You DO need a lawyer who knows local probate, but you should keep control of things in order to deal with family situations like the one you are describing. Consolidating accounts is not complicated.

It occurs to me that if the FIL had a will (which he must have had for your husband to be the executor, if you are using terminology precisely), it is very surprising if the will doesn’t make clear what is supposed to happen with the house. If it doesn’t, and the will postdates whenever the FIL entered into the house arrangement, it probably means that the FIL didn’t see himself as having an ongoing economic interest in the house.

It also occurs to me that if the FIL was guaranteeing his grandson’s mortgage, the FIL’s death is almost certainly a default on the mortgage. And while at common law death terminates a guarantee, I would not be surprised if the bank’s guarantee purports to let it claim against the estate if the mortgage isn’t paid in full now, after the guarantor’s death. So . . . more complications to talk to a lawyer about.