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Politics : Sharks in the Septic Tank -- Ignore unavailable to you. Want to Upgrade?

To: maried. who wrote (40352)	12/4/2001 1:19:02 PM
From: jlallen	Read Replies (1) \| Respond to of 82486

He sold the family house to one of his daughter's boyfriends for $1.00..etc. I can not believe the Probate Court would approve of such an arrangement....... JLA

To: maried. who wrote (40352)	12/4/2001 1:24:26 PM
From: Neocon	Read Replies (1) \| Respond to of 82486

That is a more bizarre instance than I was contemplating. Thanks for bringing it up. I will say that, even as executor, he is subject to review by probate court, and cannot act against the interests of the heirs. If she died intestate, and the spouse could not inherit, normally the children will get an even split of the net cash value of the estate. If they are minors, their assets would be placed in trust funds, under the control of the executor until their majority. This may be the loophole which is allowing abuse. Nevertheless, if the court is aware of the abuse, it cannot go on.......

To: maried. who wrote (40352)	12/4/2001 1:30:00 PM
From: The Philosopher	Read Replies (2) \| Respond to of 82486

Are there any children, or other persons who would normally inherit from the wife? They should have the ability to challenge any such transfers. Or the State would, if there are no heirs. Do you have a cite somewhere for this, did you read it, or do you have personal knowledge of it? It sounds to me a bit like an urban legend, or one of those situations where there are critical facts missing. Edit: since you mentioned a daughter, presumably she would be a natural heir. If she is the only child, and if she approves the sale to her boyfriend, there's probably no problem with it, except maybe an attempt to cheat on inheritance taxes, but those are valued as of market value on the date of death or a later date, so that wouldn't seem to be an issue.