The first fact to understand in such a circumstance is that a person cannot create a Will that distributes property they have already sold.
Last Will and Testament Questions
Answers to Frequently Asked Last Will and Testament Questions
How Is Money in a Will Distributed if the First Listed Beneficiary is Deceased?
The Will language itself should provide the instruction on how and to whom the assets should be distributed.
Does a Last Will and Testament Override a Promissory Note?
A Last Will & Testament may contain language that forgives indebtedness owed to the decedent by a third party, even if the indebtedness is confirmed through a written Promissory Note.
But if the holder of the Promissory Note is not a beneficiary of the assets of the estate, another solution is used.
Would a Probate Court Recognize a Beneficiary if Her Maiden Name is Used in the Will?
Such a question would be decided upon solely by the judge overseeing the Probate Court case.
Which Last Will and Testament is Valid If Two Different Signed Documents Exist?
The Probate Court will review each Last Will and Testament document presented before it, and make the determination as to which Will is valid and in force.
Must a Will Remained Sealed Until the Time it is Read?
A Last Will and Testament does not need to be sealed, nor remain sealed, to be legal and valid.
What Happens to Family Property Not Listed in a Trust if No Will Exists?
If property is not properly transferred to a Living Trust (known as “funding” the trust), then the property must be administrated by a probate court in order to be property distributed to the heirs.
If My Name is On the Deed to My Recently Deceased Parents House, Does Their Will Stating Distribution to All Siblings Override That Deed?
Only property that is wholly owned by the decedent at the time of his or her death will be handled by a probate proceeding, regardless of any provision in a Will.
Can a Last Will Dictate How Distributed Money from an Estate is to be Used by a Beneficiary?
Typically, a Last Will and Testament cannot be used to control the future use of an asset (including cash) once it has been distributed.
Usually, a Will can only designate the amount (or percentage) of the estate and name the beneficiary or beneficiaries.
If a Will’s Content Is Not Fully Clear, as Executor Can I Determine a Fair Resolution?
The Executor of the Will is responsible for following all of the mandates specifically outlined in said Will as to the distribution of an estate.
But if a Last Will and Testament lacks clarity, the decision is not up to the Executor of the Will to interpret those unclear directives nor to make changes to the stated distribution.