.... That the child must be alive at the time of Sheila's death in order to inherit? I dont think that is universally true.... So it seems you do not necessarily have to have been born at the time of a persons death to inherit.
Obviously, we would want toknow at least two things: what exactly is the law in the jurisdiction where Sheilas estate is probated (Im assumingIllinois), and what conditions Sheila placed in her will and trust(s).I am not a lawyer, this is not a legal opinion, and this is the internet, so consider all with caution!
BBM SBM
Another
factor about distribution of SVWM's prop is
how the prop, a/c's, assets are held (titled, registered, or recorded).
Ex: SVWM
(only); SVWM & other (HM? Or S's bro?) as Joint Ten w Rt/Surv.;
SVWM trustee, for SVWM Trust of [date].
3 Categories of Property
Hypo ex's of property, a/c's or assets she may have
titled various ways, maybe had not yet transferred to her trust?
1st: Probate Estate Property
$
,000 CD, a/c ..........
SVWM & S's brother,
Joint Ten w Rt/Surv..........
No probate ct involvement;
.....................................................................................................................................................after providing death cert, etc. to bank, bro wd receive $.
.
$
,000CD, a/c .................
SVWM only (no jt ten or co-owner)...........
Goes thruprobate ct, to be dist'ed per will
.
$ XX,000 money mkt.............
SNWM only............................................ Ditto
Auto.....................................
SVWM only. ........................................... Ditto.
Prsnl prop
(jewelry, art, antique furn.).... untitled................................................. Ditto.
W ^
these assets^ subject to probate, what would S's brother,executor of her estate, do?
If SVWM bequeathed any/some/all of probate estate to HM,
would he
file motion in IL probate ct to postpone distribution to her, pending disposition of Bali crim case against HM and her (presumed) eventual return to US? And/or possibly after-born child? Or ___?
Conceivably, that could be years
.
2nd: Trust property
Condo.......................... SVWM tt'ee, SVWM trust...............................To be dist'ed per trust, to bnfcry she designated in tr doc.*
.
Wrt condo, a trust asset, not subject to probate ct jurisdiction, what would S's brother do?
Presumably as successor tt'ee, S's bro has flexibility about administering trust, per powers clause.
If he anticipates lapse of couple yrs for Bali crim procedure, does trust have
sufficient $$$ to pay mortgage, prop taxes, ins, maintenance on condo, if he is to retain it for HM, on her (presumed) eventual return to US? And/or possibly after-born child? ?
If insufficient $ in tr, does he have discretion to
sell condo (& other tr assets?), retain $ for HM and/or possibly after-born child?
3rd: $ payable to life ins beneficiary; surv. jt ten.
$
,000
life ins policy ...
SVWM insured & owner,
HM beneficiary......No probate ct involvemt; n
ormally, after providing death cert,
....................................................................................................................................................etc. to ins co., HM wd receive $ from ins co.
$
,000 CD, a/c .............
SVWM & HM, Joint Ten w Rt/Surv...............No probate ct involvemt; n
ormally, after providing death cert,
....................................................................................................................................................etc. to bank, HM wd receive $ from bank.
.
Crim case against HM (we're presuming to be the named beneficiary of hypo life ins policy) is pending in foreign country.
W notoriety of death, could i
ns co slip up & pay HM $ (EFT-a US bk ac of hers), if she finangled the right docs to ins co?
What language would Bali-issued death cert be written in? Would it show MoD of homocide, like US, etc?
Wondering about any assets or a/c's that SVWM might have held like this.
Glad I'm not in SVWM's brother's shoes.
Hoping SVWM rcv'ed competent legal counsel about her estate planning and followed thru w approp doc's & measures
RIP.
JM2cts. I am not an atty, don't play one on TV, but have stayed at Holiday Inns. jmo moo imo etc.
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*
IIRC, a Chi-town atty quoted in one MSM article early on said (my paraphrasing) - I/my law firm did some estate planning for SVWM.
IIRC, ~1-2 mo prior to her Bali trip, SVWM transferred condo from her name only, to hold in her trust's name.
IOW, she signed a deed to transfer condo to trust; deed was recorded in Cook County Recorder's office in past couple mo.
IIRC, same atty said (my pp'ing) - I/my law firm filed SVWM's will in probate ct, as we were obligated to do, on learning of her death.
I came across this article again ^^^ that Quester had previously linked.
