Q&A: Is there a similar document as a Power of attorney that will not stop when the granter dies?
Thursday, January 26th, 2012 at
11:35 am
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Filed under: property investment advice
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There are all kinds of docs, each with a different function, and each with limitations (general POA is the only one that is unrestricted).
I believe you can use a will to give someone power of attorney by making them your executor, but the will has to be filed with the courts to function.
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If you were married, you could actually call him “hubby” and you could do a marital trust. That’s where you have property that is owned by one spouse and passes to the other automatically before probate. Between spouses, the property is actually awarded and never becomes part of the estate. I think they’re also called “bypass trusts”.
Jaker is right…get a will drawn up. Definitely get something to show he is the parent to the kids.
Executor of the Estate. is a very good form. IMHO? Do not invest one dime till he clears this up. Keep your money budgeted for you and the kids. Pay your share of utilities and other payments. He wants the house in his name and you not even honored with his last name? Unworkable.
Not being married you have zero natural rights in any part of his estate. You need to find out WHO is executor and who is granted title to any real property. If, no one is appointed as an heir in the will? Or, worse, no will at all? The state decides. Usually the closet relative. Sometimes the state may decide to liquidate ALL property and use the result to pay off debts and leave the remainder in trust. To the children.
My wife had like doubts. I proved her worth to me. I married her and we co-own the title to the house. Ended the whole matter at a stroke. Marriage is a partnership between equals. At the very least he should wed you. I mean two kids?