POD accounts only so how to pay deceased expenses?

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bpg1234
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POD accounts only so how to pay deceased expenses?

Post by bpg1234 »

Much to my sadness my mom recently passed away and now I am in the process of settling her minimal estate as I am listed in her will as the Executor of the Estate.

Having had some planning foresight she prepaid the vast majority of her funeral expenses via an Irrevocable Trust fund I helped her get set up two years ago but there are still some additional funeral home, as well as other funeral-related expenses (e.g. several Long Term Care day expenses, dress, etc., additional Interment charges, flowers, repast gathering, monument engraving, etc.) which are above and beyond the dollars in the trust that need to be paid out of her estate.

In light of the timing of the funeral, I personally paid some of the immediate funeral expenses out of pocket in anticipation of getting reimbursed from the estate at some point and project that some of her other remaining expenses will start to show up over the next few weeks. In recently reviewing the details of my mom's finances, however, I see that all of her remaining funds are in savings and checking accounts with POD beneficiaries split between all of her four children in equal percentages. She had no home. car, or other valuables that could be sold and used so I spoke with the bank about any potential to pool the savings and checking account into an estate account so expenses could first be paid but they indicated POD beneficiaries supersede the will.

As such, everything my mom owns falls outside of the will and I'm not sure how to get reimbursed for other's share of her expenses other than asking my siblings to send back a portion of the money they receive directly from the bank as POD beneficiaries. Before proceeding down this path I'm interested to know if there are any other potential legal options to avoid having to potentially chase after the reimbursements?
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BrandonBogle
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Re: POD accounts only so how to pay deceased expenses?

Post by BrandonBogle »

bpg, I am sorry to say I do not have advice to give you to help you. I do however wish to convey my condolences. I am sorry for your loss.
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Re: POD accounts only so how to pay deceased expenses?

Post by BrandonBogle »

Hopefully you find an estate solution, but have you spoken with your siblings about splitting these costs between them so each child is equally paying for mom's expenses?
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bpg1234
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Re: POD accounts only so how to pay deceased expenses?

Post by bpg1234 »

BrandonBogle wrote:Hopefully you find an estate solution, but have you spoken with your siblings about splitting these costs between them so each child is equally paying for mom's expenses?
Thanks for your condolences BrandonBogle. I have spoken to them and it may work in two cases but not so sure about the last one which is one of the reasons I am posting to see if any other options. Also, I would like to protect against any other expenses that unexpectedly show up over the next month or two which may be too late if they already received their 25% POD beneficiary share of the account.
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BrandonBogle
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Re: POD accounts only so how to pay deceased expenses?

Post by BrandonBogle »

bpg1234 wrote:Also, I would like to protect against any other expenses that unexpectedly show up over the next month or two which may be too late if they already received their 25% POD beneficiary share of the account.
Given the details, there are no assets in the estate and you/the family has taken care of the funeral (which likely required payment prior to burial). Not to sound mean, but any other bills or creditors coming about her end of life costs may be able to be told to pound sand. I am unfamiliar with NJ law (and IANAL), but most likely the only recourse anyone has would be to her "destitute" estate, which won't yield them anything.

I feel for you as this cannot be easy and wish you the best of luck. Hopefully during US daytime hours, others may chime in with more advice.
2stepsbehind
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Re: POD accounts only so how to pay deceased expenses?

Post by 2stepsbehind »

BrandonBogle wrote:
bpg1234 wrote:Also, I would like to protect against any other expenses that unexpectedly show up over the next month or two which may be too late if they already received their 25% POD beneficiary share of the account.
Given the details, there are no assets in the estate and you/the family has taken care of the funeral (which likely required payment prior to burial). Not to sound mean, but any other bills or creditors coming about her end of life costs may be able to be told to pound sand. I am unfamiliar with NJ law (and IANAL), but most likely the only recourse anyone has would be to her "destitute" estate, which won't yield them anything.

I feel for you as this cannot be easy and wish you the best of luck. Hopefully during US daytime hours, others may chime in with more advice.
This. You and your siblings have no responsibility to your mother's creditors. I'd hope your siblings will reimburse you for the funeral related expenditures you've made, but I also hope you discussed these expenses with them before incurring them. Nobody likes being presented with an unexpected bill.

Very sorry for your loss. Grief can bring out the worst in us so try not to take the last sibling's reticence to heart. If you end up shouldering more than your fair share of the financial burden at least comfort yourself by the fact that you buried your mother with dignity. She'd be very proud of you.
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Re: POD accounts only so how to pay deceased expenses?

Post by Grt2bOutdoors »

Sorry for your loss. Unfortunately, the bank is correct, the POD supercedes the will. You are going to have to ask your siblings to pay their fair share of the estate costs - I can't imagine they will not want to settle their mother's affairs in a dignified manner. However, I could be wrong.
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bpg1234
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Re: POD accounts only so how to pay deceased expenses?

Post by bpg1234 »

Thanks all for your reply and condolences. I did speak with my siblings about there being shared funeral expenses under the premise they would ultimately be paid out of the estate account and then the remainder of her funds divided equally among all of us after all is said and done. As for any immediate monies required, it was agreed that I would pay and be made whole from the Estate account prior to monies being distributed.

There were some statements, however, from one sibling about not paying some of the remaining mom care expenses and questions on need for some other funeral-related expenses. As such, in light of the POD designations and getting their share first I'm not so sure of repayment for their share of expenses that they may not necessarily agree with. Hence the Original Post.
Bill M
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Re: POD accounts only so how to pay deceased expenses?

Post by Bill M »

IANAL, but dealt with almost exactly same POD situation with my Mom. My sister and I split the expenses out of the amounts we were paid by the banks.

There's the legal solution (pound sand, as stated in another response), and there's the "do what's right" solution (split expenses four ways).

Creditors are making claims on the estate. There is no estate. They can fight over their share of zero. It might get messy, especially if there was any personal property other than bank accounts (e.g. engagement ring??), or even minimal stuff, like clothes and furnishings in care facility. As executor, you have control of all of that. If you go this route, you may want to file the will with the probate court, file an inventory (listing zero assets) and get the court on your side arbitrating disputes.
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dm200
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Re: POD accounts only so how to pay deceased expenses?

Post by dm200 »

You and your siblings have no responsibility to your mother's creditors.
Narrowly and technically - this statement is true. BUT - your mom DID have responsibility to her creditors, and (in varying degrees) her assets were (or might have been) subject to creditor claims.

I will do some more research (and this may depend on state law), but I suggest the siblings NOT spend it all, just in case creditors and others might be successful in getting some of her money.
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Re: POD accounts only so how to pay deceased expenses?

Post by Gill »

From Nolo:

"Avoiding probate doesn't let you off the hook from legal obligations to your creditors. If you don't leave enough other assets to pay your debts and taxes, any assets that passed outside of probate may be subject to the claims of creditors after your death.

If there is any probate proceeding, your executor (the person named in your will to handle your affairs after your death) can demand that whoever inherited the property turn over some or all of it so that creditors can be paid. Creditors, however, have only a set amount of time—about three to six months, in most states—to submit formal claims to your executor. A creditor who is properly notified of the probate court proceeding cannot file a claim after the deadline passes."

Bottom line: You can't defeat the claims of a decedent's creditors by having all the property pass outside probate.
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dm200
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Re: POD accounts only so how to pay deceased expenses?

Post by dm200 »

Let me also add that if I were a creditor and I was owed money by a person who had, upon their death, passed all assets via POD beneficiary, I would pursue these "ill gotten gains" by the beneficiaries to a considerable degree (as well as, to the degree allowed by law - recovery of collections expenses). Note that (read the fine print) in many, if not most loan agreements and contracts, a loan is immediately "in default" upon the death of the borrower.
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Re: POD accounts only so how to pay deceased expenses?

Post by Spirit Rider »

Notwithstanding dm200 comments, the Nolo quotes are too neatly tied in a bow and misleading as to actual practice. First, probate courts like most legal proceedings are highly variable state to state. Second, probate courts are even variable within states due to the rulings of probate judges. Here they rule like little fiefdoms and are rarely overturned. They have tremendous discretion.

The quote "any assets that passed outside of probate may be subject to the claims of creditors after your death.", really hinges on the word may. Also, the description that the Executor can demand the clawback of beneficiary distributions is generally incorrect. The Executor may request the return of those funds. If this is not honored, he may petition the court to order the return. However, probate courts in many states may not have the legal authority or desire to do so.

Once there is the distribution of assets in an insolvent estate. Creditors who have filed timely claims which remain unpaid may petition to be paid from non-probate assets. However, in reality very few submit claims and even fewer persist in an insolvent estate. Primary consideration given to clawbacks are for funeral expenses, taxes, and Medicaid. If there is evidence that the decedent recently and intentionally named beneficiaries or moved assets into beneficiary accounts to evade the payment of debts then the claim is easier. In general it is not wise to piss off judges even from the grave. However, many state probate courts are not permitted or are loathe to order clawbacks.

Even the IRS can be rejected in some jurisdictions, but as one probate judge said "They have a legal right to the clawback, but I do not have to be their collection agency." Of course that doesn't really help you with the IRS. They may want their money from one source, but they are perfectly happy to go directly after the beneficiaries.
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bpg1234
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Re: POD accounts only so how to pay deceased expenses?

Post by bpg1234 »

Thanks again for everyone's input and condolences.

So in reading all of this and other info there are clearly post-death funeral expenses that I specifically signed/contracted for which were already paid/need to be paid by the family and hopefully shared by siblings (e.g. flowers, dress, cemetery fees, repast luncheon, headstone engraving, etc.). Since there are only POD designations on all of mom's bank accounts, etc. all available finances fall outside of the will so I will have to request reimbursement from my other siblings for these expenses.

As for my mom's personal debts incurred prior to her demise, such as a week of Nursing Home care private pay charges and any other expenses that arrive (e.g. ambulatory charges, etc.) these fall into a different category since solely signed for and owed by my mom and are legally her debts which would normally be paid out of her estate?

However (please correct me if I am wrong), since there are no other assets (and I mean no other assets e.g. no car, house, jewelry, etc.), there are no assets to probate and therefore no need to do anything with the will to set up an estate/account and no creditor claims can legally be made to us for these/her debts?
Last edited by bpg1234 on Fri Feb 20, 2015 11:36 pm, edited 3 times in total.
Anon1234
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Re: POD accounts only so how to pay deceased expenses?

Post by Anon1234 »

Gill wrote:From Nolo:

"Avoiding probate doesn't let you off the hook from legal obligations to your creditors. If you don't leave enough other assets to pay your debts and taxes, any assets that passed outside of probate may be subject to the claims of creditors after your death.

If there is any probate proceeding, your executor (the person named in your will to handle your affairs after your death) can demand that whoever inherited the property turn over some or all of it so that creditors can be paid. Creditors, however, have only a set amount of time—about three to six months, in most states—to submit formal claims to your executor. A creditor who is properly notified of the probate court proceeding cannot file a claim after the deadline passes."

Bottom line: You can't defeat the claims of a decedent's creditors by having all the property pass outside probate.
Gill
This.

When I went through it, my lawyer advised that the "formal claim" is any legitimate debt you know about. Credit card statements, utility bills, medical bills, etc, they all count as "formal claims" and must be paid before beneficiaries. I don't know how you decide which POD account pays, whether it's proportional to balance or equal amounts per beneficiary. It could even be taken 100% from her "normal" checking account, the one she paid her bills from. Proportional to balance seems correct to me, but that's just an opinion.
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Re: POD accounts only so how to pay deceased expenses?

Post by SimonJester »

bpg1234 wrote:Thanks again for everyone's input and condolences.

So in reading all of this and other info there are clearly post-death funeral expenses that I specifically signed/contracted for which were already paid/need to be paid by the family and hopefully shared by siblings (e.g. flowers, dress, cemetery fees, repast luncheon, headstone engraving, etc.). Since there are only POD designations on all of mom's bank accounts, etc. all available finances fall outside of the will so I will have to request reimbursement from my other siblings for these expenses.

As for my mom's personal debts incurred prior to her demise, such as a week of Nursing Home care private pay charges and any other expenses that arrive (e.g. ambulatory charges, etc.) these fall into a different category since solely signed for and owed by my mom and are legally her debts which would normally be paid out of her estate?

However (please correct me if I am wrong), since there are no other assets (and I mean no other assets e.g. no car, house, jewelry, etc.), there are no assets to probate and therefore no need to do anything with the will to set up an estate/account and no creditor claims can legally be made to us for these/her debts?
My condolences on your loss.

I would suggest you meet with a probate attorney in your area as much of this varies by jurisdiction.

But in general to answer your question yes the medical bills, ambulance etc are debts to be paid out of the estate, and there is no estate to pay those.

If you hire a probate attorney to probate the will, they will require an retainer and bill from that. You will have to write a check for that which would be an expense you likely wont be reimbursed for.

Something else to consider, Just because you were named executor doesn't mean you have to accept.

I too have been involved in an insolvent estate, I wish you well...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin
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bpg1234
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Re: POD accounts only so how to pay deceased expenses?

Post by bpg1234 »

SimonJester wrote:
bpg1234 wrote:Thanks again for everyone's input and condolences.

So in reading all of this and other info there are clearly post-death funeral expenses that I specifically signed/contracted for which were already paid/need to be paid by the family and hopefully shared by siblings (e.g. flowers, dress, cemetery fees, repast luncheon, headstone engraving, etc.). Since there are only POD designations on all of mom's bank accounts, etc. all available finances fall outside of the will so I will have to request reimbursement from my other siblings for these expenses.

As for my mom's personal debts incurred prior to her demise, such as a week of Nursing Home care private pay charges and any other expenses that arrive (e.g. ambulatory charges, etc.) these fall into a different category since solely signed for and owed by my mom and are legally her debts which would normally be paid out of her estate?

However (please correct me if I am wrong), since there are no other assets (and I mean no other assets e.g. no car, house, jewelry, etc.), there are no assets to probate and therefore no need to do anything with the will to set up an estate/account and no creditor claims can legally be made to us for these/her debts?
My condolences on your loss.

I would suggest you meet with a probate attorney in your area as much of this varies by jurisdiction.

But in general to answer your question yes the medical bills, ambulance etc are debts to be paid out of the estate, and there is no estate to pay those.

If you hire a probate attorney to probate the will, they will require an retainer and bill from that. You will have to write a check for that which would be an expense you likely wont be reimbursed for.

Something else to consider, Just because you were named executor doesn't mean you have to accept.

I too have been involved in an insolvent estate, I wish you well...
Thanks for your condolences. I have discussed this with my mother's attorney during the repast luncheon and she indicated that we can simply avoid the probate process in light of my mom's POD designations only. I did not specifically ask her about paying mom's specific medical, utility, etc. bills though which are solely in mom's name if there is no estate whatsoever so perhaps that is the next phone call.

From what I gather from what has been posted here and other info that I have read is that in most cases in many jurisdictions (believe we are in one) we may not "legally" be liable for her debts although "morally" it may be the right thing to do.
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Re: POD accounts only so how to pay deceased expenses?

Post by Anon1234 »

bpg1234 wrote: From what I gather from what has been posted here and other info that I have read is that in most cases in many jurisdictions (believe we are in one) we may not "legally" be liable for her debts although "morally" it may be the right thing to do.
I think your mental definition of "estate" is incorrect. The estate is not defined by assets that pass through probate. The estate is anything owned by the decedent at the time of passing. The POD accounts are part of the estate. The POD money must pay the creditors just like it would have to pay federal or state estate taxes if those were due.
Please call your lawyer. I would hate to see posts from you a year from now when the creditors are sueing you personally for failing to pay legitimate debts that were owed by the estate. I believe the executor (you) is legally responsible for using estate funds to pay debts owed by the decedent(and now owed by the estate).

Also, my condolences on your loss. I should have said that at the beginning of my first post.
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Re: POD accounts only so how to pay deceased expenses?

Post by harrylime »

dm200 wrote:
You and your siblings have no responsibility to your mother's creditors.
Narrowly and technically - this statement is true. BUT - your mom DID have responsibility to her creditors, and (in varying degrees) her assets were (or might have been) subject to creditor claims.

I will do some more research (and this may depend on state law), but I suggest the siblings NOT spend it all, just in case creditors and others might be successful in getting some of her money.
Good for you, dm200.

There is a widespread misapprehension that non-probate transfers are simply not subject to creditor claims. While subject to state law, most states allow for reclaiming non-probate transfers to satisfy creditor claims. The method may differ by state. In some states, the executor/personal representative is tasked with reclaiming sufficient non-probate transfers to satisfy creditors. In others, creditors are permitted to sue the recipients. All depends on state law.
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Re: POD accounts only so how to pay deceased expenses?

Post by ShiftF5 »

I'm very sorry to hear of your loss.

Try to slow things down a bit and take a little time for yourself.

If at all possible you really want to hold all monies until all bills have been paid, as referenced above possibly 6 months or more.

Once some people get the $$ in their hands, all bets are off.

Money does strange things to people.

Clawback is tough.

Best of luck. Peace.
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Re: POD accounts only so how to pay deceased expenses?

Post by mptfan »

harrylime wrote: There is a widespread misapprehension that non-probate transfers are simply not subject to creditor claims. While subject to state law, most states allow for reclaiming non-probate transfers to satisfy creditor claims. The method may differ by state. In some states, the executor/personal representative is tasked with reclaiming sufficient non-probate transfers to satisfy creditors. In others, creditors are permitted to sue the recipients. All depends on state law.
As you said, this is all based on state law. But in general, I don't think it is a misapprehension that non-probate transfers are not subject to creditor claims, rather, the understanding is based on the reality of how things actually work. In theory, most states probably do allow for reclaiming non-probate transfers, but that is in theory. There is a great disparity between theory and practice on this point. In practice, I believe that most creditors are simply not interested (for rational economic reasons) to spend the time and expense to attempt to reclaim non-probate transfers that have already been distributed (and likely spent) by the heirs, knowing that even if they were successful in proving their case, it would be difficult or impossible to actually collect.
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bpg1234
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Re: POD accounts only so how to pay deceased expenses?

Post by bpg1234 »

Thanks for everyone's input and condolences. I definitely will speak with my lawyer on Monday. It makes sense to me that non-probate assets are part of the estate but would be better if not legally paid out to beneficiaries before decedent debts are satisfied first. From a layman perspective, this would seem to be more fluid if ALL decedent assets went into the estate account and creditors were paid first as per the established order and only then is any remaining money paid out as per the will designations.

It is a real PITA that monies can easily be distributed to beneficiaries prior and then if there is nothing remaining in the estate to pay bills the executor of the estate has to do some legal process or whatever to clawback the funds from beneficiaries after the fact. As of now I have not done anything with the bank in presenting the death certificate so the bank accounts are not closed and I planned on leaving this way until I understand more on all of this (not sure how long I can let this go?).

As for Executor of the Estate role, I have been named in my mom's will but I have not done anything to this point in this regard and I am not even sure whether I even want to consider doing it or is it worth it if no assets for probate. So my question is what happens if I don't do anything with the will nor become Executor of Estate and the bank pays out the available monies to the beneficiaries? Who do creditors come after?
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dm200
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Re: POD accounts only so how to pay deceased expenses?

Post by dm200 »

harrylime wrote:
dm200 wrote:
You and your siblings have no responsibility to your mother's creditors.
Narrowly and technically - this statement is true. BUT - your mom DID have responsibility to her creditors, and (in varying degrees) her assets were (or might have been) subject to creditor claims.

I will do some more research (and this may depend on state law), but I suggest the siblings NOT spend it all, just in case creditors and others might be successful in getting some of her money.
Good for you, dm200.

There is a widespread misapprehension that non-probate transfers are simply not subject to creditor claims. While subject to state law, most states allow for reclaiming non-probate transfers to satisfy creditor claims. The method may differ by state. In some states, the executor/personal representative is tasked with reclaiming sufficient non-probate transfers to satisfy creditors. In others, creditors are permitted to sue the recipients. All depends on state law.
Another slight "twist" on this scenario might be a situation where one (or some) intended beneficiaries of the deceased pay (or are assessed) a much larger part of estate expenses, taxes, etc. than what was probably intended by the deceased.

Say, just as an example, deceased leaves total assets of $1 Million to be distributed to 4 heirs/beneficiaries in differing amounts. Let's call them Pat, Chris, Kelly and Jamie. Pat is POD beneficiary of $250,000 (taxable, not retirement) savings account/CDs. Chris is beneficary of $250,000 traditional IRA. Kelly is POD beneficiary of $100,000 Vanguard (taxable) Mutual Funds. The remaining $400,000 of the deceased (all taxablle deposits/investments/etc.) are distributed by the will of the estate in equal shares to these 4 individuals. It was the intention of the deceased that each of the 4 get this share. On a gross level, then, Pat and Chris would get $350,000 each, Kelly would get $200,000 and Jamie $100,000. The $1 Million is the gross amount of the deceased's assets. The "bottom line" share each gets (net) might be very different. While Pat and Chris may get $250,000 each as beneficriiaies, Chris would be subject to tax when the tradiitonal IRA is distributed. So, Pat would get more than Chris (net). Suppose that the deceased had obligations (debts, etc.) of $100,000. I suspect the creditors would place a claim on the probate estate for this, bringing down the value to $300,000. Let's also suppose that estate expenses (funeral, burial, associated expenses, legal, etc.) amount to $60,000. That brings the probate este down to $240,000. Each of the 4 now gets $60,000 of this. In this example, Jamie (as a percentage of beginning gross) is hardest hit (from the original intention) and Pat/Chris are treated (net) unequally.

The details may be different, bit this is the idea of what could happen - and could cause tension/dispute/hostility/etc. between and among the four.
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Re: POD accounts only so how to pay deceased expenses?

Post by Spirit Rider »

bpg1234 wrote:As for Executor of the Estate role, I have been named in my mom's will but I have not done anything to this point in this regard and I am not even sure whether I even want to consider doing it or is it worth it if no assets for probate. So my question is what happens if I don't do anything with the will nor become Executor of Estate and the bank pays out the available monies to the beneficiaries? Who do creditors come after?
This depends on probate rules in your state. Usually, there is a formal process where you can decline to serve as Executor. In my state, the form allows both the primary and secondary individuals to decline on the same form.

I think you really need to get legal advice for your specific jurisdiction. In my insolvent estate, the probate court clerk advised me to do nothing, not even to decline. I checked with my lawyer (thinking they just wanted less work to do). He confirmed that they don't want to deal with insolvent estates that have no estate assets. There was < $100 in bank accounts, no car or anything of significant value, just personal possessions, ~= $3000 in debts, and ~= $2000 in non-probate assets (Roth IRA left to a college freshman). The two ex-husbands split the funeral expenses. Never heard from the probate court and the creditors never went after the kid's Inherited Roth.

If there are significant debts the creditors might go after the non-probate assets of the beneficiaries. To reiterate, you really need legal advise as whether to do nothing, formally decline, or petition for appointment as executor. With my suggested preference in that order. I don't see how you have liability to the creditors unless you are a beneficiary or petition and are appointed as Executor and breach some fiduciary responsibility in that capacity.
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Re: POD accounts only so how to pay deceased expenses?

Post by 2stepsbehind »

mptfan wrote:
harrylime wrote: There is a widespread misapprehension that non-probate transfers are simply not subject to creditor claims. While subject to state law, most states allow for reclaiming non-probate transfers to satisfy creditor claims. The method may differ by state. In some states, the executor/personal representative is tasked with reclaiming sufficient non-probate transfers to satisfy creditors. In others, creditors are permitted to sue the recipients. All depends on state law.
As you said, this is all based on state law. But in general, I don't think it is a misapprehension that non-probate transfers are not subject to creditor claims, rather, the understanding is based on the reality of how things actually work. In theory, most states probably do allow for reclaiming non-probate transfers, but that is in theory. There is a great disparity between theory and practice on this point. In practice, I believe that most creditors are simply not interested (for rational economic reasons) to spend the time and expense to attempt to reclaim non-probate transfers that have already been distributed (and likely spent) by the heirs, knowing that even if they were successful in proving their case, it would be difficult or impossible to actually collect.
This. I am a lawyer, but obviously not your lawyer, nor do I pretend to know what the rules are in your state. Most creditors don't bother to file claims even when the will has been probated not to mention where it appears that that there are no assets to probate. Unless the creditors have reason to believe that there are a sizable amount of assets, they will likely let it go.
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Re: POD accounts only so how to pay deceased expenses?

Post by sammyjenkins »

I have had a similar dilemma. My mother passed and left no arrangements for her cremation. She had a POD checking account and 3 beneficiaries designated (me and my two siblings). I paid for my mom's cremation and agreed with siblings that whatever is in the account would cover this expense and then if there's any shortfall we cover it - or if anything remaining, we split it. POD accounts are non-probate assets - so even though I filed and had successful petition of assignment of account assets less than $2000 it would have covered the funeral expenses reimbursement and given a small share to each heir. The bank refused the court mandate reassigning the designation of funds and each sibling gets 1/3 of the balance remaining. I am out of pocket cremation expenses, court fees minus my share of the assets. My siblings reneged on their agreement as they can't afford to not take the money and see my effort to provide this service for our mother as my responsibility solely as I had the means and wanted a dignified burial for her (both siblings were useless in helping to get our mother's affairs sorted after her passing). The emotional cost has been much greater than the money. I feel butt-hurt about it for sure - my good deed affords my siblings a small windfall and I'm left holding the bill. POD accounts are great if there's a provision set aside for the burial expenses above all beneficiaries - otherwise, someone will get burned.

:oops:
mptfan
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Re: POD accounts only so how to pay deceased expenses?

Post by mptfan »

sammyjenkins wrote:The emotional cost has been much greater than the money. I feel butt-hurt about it for sure - my good deed affords my siblings a small windfall and I'm left holding the bill. POD accounts are great if there's a provision set aside for the burial expenses above all beneficiaries - otherwise, someone will get burned.
I am curious, if you had known before you paid for your mother's dignified service that your siblings would not pay their share, would you have still paid for it yourself?
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