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Post by anothermom2two on Dec 2, 2016 6:04:59 GMT
My brother passed away earlier this year and he didn't leave a will, so his estate is in probate. My sister stepped up and has been dealing with the the lawyer, creditors, etc. His main asset is a house boat, which we have an offer on for $330,000. Problem is, when they took the boat to dry dock for inspection, they found that the hull is full of dry rot and needs to be replaced. This could cost upwards of $60,000 according to the inspector. My sister has put $30,000 of her own money into paying to have the boat fixed up to sell, as well as paying off some of his creditors.
Now she is hearing from the lawyer that the mortgage holder and creditors come before her on getting paid back. If that is the case, it is very likely that there won't be enough left to reimburse her.
Has anyone dealt with something like this? I feel so bad that she put the money into taking care of the estate instead of walking away, and now she might get screwed in the deal. I'm hoping that there is an angle that we're missing on how she can get her money before the creditors?
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Deleted
Posts: 0
May 16, 2024 21:48:02 GMT
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Post by Deleted on Dec 2, 2016 6:21:49 GMT
Did your sister talk to the attorney for advice before forking over her own money for the boat repairs and paying your brother's bills? I would think that she should have waited to see who is going to be the administrator or whatever it is called for his estate. I am pretty sure they will pay his creditors before paying her back, so I fear that your sister may be out of luck, but I am not an attorney, so I don't know for sure. I hope she has kept good documentation of what she has been spending on his affairs. Wishing her the best. I know it is a hard time for both of you. So sorry for your loss.
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Post by MalleyCat on Dec 2, 2016 6:48:07 GMT
I am sorry for your loss. Our family just went through probate for my mother, who didn't have a will in CA. Your sister really should have consulted with the probate lawyer before spending any money. Did she have any idea what was still owed on the house boat before she made the repairs?
Even when there is a will in CA, assets usually need to go through probate court. It's very costly and takes a long time. My husband and I are setting up a Living Trust, so our heirs don't have to deal with probate court.
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scrapaddie
Drama Llama
Posts: 5,090 
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Post by scrapaddie on Dec 2, 2016 10:02:49 GMT
I am sorry for your loss. Our family just went through probate for my mother, who didn't have a will in CA. Your sister really should have consulted with the probate lawyer before spending any money. Did she have any idea what was still owed on the house boat before she made the repairs? Even when there is a will in CA, assets usually need to go through probate court. It's very costly and takes a long time. My husband and I are setting up a Living Trust, so our heirs don't have to deal with probate court. My dad did this. At the time he died, he owned only a car and his personal property by clothing books etc. I believe his checking account was also included in this. We still had to go through probate. |
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Post by anothermom2two on Dec 2, 2016 14:49:01 GMT
Thanks for the responses. She did meet with the attorney before starting the process, but when I asked her about it yesterday, she said that she must have misunderstood him originally. She has told me all along that she would be getting the money that she had put in first. I'm just so sad for her. This has been such an emotionally difficult time for both of us, and the only reason that she's been spending her money to take care of things was so that our mom would have some money in the end from our brother's estate.
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Post by mikklynn on Dec 2, 2016 16:28:38 GMT
I have no advice, just sending my sympathy to you and your family.
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