Here I am again...

[wannawin]

What is the name of your state (only U.S. law)? Michigan

I am not sure where to ask this question. I recieved in the mail today , what I concider a threat from my sisters lawyer. Basically it said if I didn't turn over all assets to the estate within 14 days, they will file with probate court, a petition concerning conversoin under 700.1205 (4)... "the actions under conversion under MCL 600.2919a , entititling petitioner( xxxxx)on the behalf of the estate to recover three times the amount converted plus attorneys fees incurred as a result of the conversion. The actions of the Respondent xxxxx also constitute conversion under 700.1205 (4) and will entitle the estate to recover two times the amount converted " My name is listed as beneficiary on a few account, and also as a co-owner on a bank account. Anty info would help and be greatly appreciated !!

 

[wannawin]

So far, I have not recieved a penny, although I am planning on closing the joint bank accout with my sister tomorrow ....26 cents. The other account is 5to 6 thousand. I also have benifericary papers that I have not mailed back.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Michigan

I am not sure where to ask this question. I recieved in the mail today , what I concider a threat from my sisters lawyer. Basically it said if I didn't turn over all assets to the estate within 14 days, they will file with probate court, a petition concerning conversoin under 700.1205 (4)... "the actions under conversion under MCL 600.2919a , entititling petitioner( xxxxx)on the behalf of the estate to recover three times the amount converted plus attorneys fees incurred as a result of the conversion. The actions of the Respondent xxxxx also constitute conversion under 700.1205 (4) and will entitle the estate to recover two times the amount converted " My name is listed as beneficiary on a few account, and also as a co-owner on a bank account. Anty info would help and be greatly appreciated !!

**A: if the accounts that you have access to were not joint accounts (with survivorship), then those accounts belong to the estate and are subject to probate jurisdiction. The fact that you are listed on a few accounts as beneficiary does not automatically give you possession and ownership. For these such accounts you would need probate court approval.

 

[wannawin]

They had my name on then when the statements came, therefore I believe they were joint accounts.

 

[TheGeekess]

What is the name of your state (only U.S. law)? Michigan

I am not sure where to ask this question. I recieved in the mail today , what I concider a threat from my sisters lawyer. Basically it said if I didn't turn over all assets to the estate within 14 days, they will file with probate court, a petition concerning conversoin under 700.1205 (4)... "the actions under conversion under MCL 600.2919a , entititling petitioner( xxxxx)on the behalf of the estate to recover three times the amount converted plus attorneys fees incurred as a result of the conversion. The actions of the Respondent xxxxx also constitute conversion under 700.1205 (4) and will entitle the estate to recover two times the amount converted " My name is listed as beneficiary on a few account, and also as a co-owner on a bank account. Anty info would help and be greatly appreciated !!

Stop posting new threads for every thought you have.
https://forum.freeadvice.com/life-insurance-annuities-16/beneficiary-593810.html
https://forum.freeadvice.com/fringe-benefits-95/dexter-lock-593878.html
https://forum.freeadvice.com/banking-credit-cards-18/savings-account-593953.html
https://forum.freeadvice.com/probate-personal-representatives-114/here-i-am-again-594041.html

 

[HomeGuru]

They had my name on then when the statements came, therefore I believe they were joint accounts.

**A: you wannawin but you are not going to judging from your pretzel logic. And we are getting a bit tired of your numerous posts. This is not email or Twitter.

 

[wannawin]

I am more interested in the pention and life insurance with me as beneficiary. Another thing that the lawyer quoted from the will " FOURTH : I intend to place my Mother as co-owner with me on most of my assets and in the event she predeceases me the I intend to place some of my nieces as co-owners inating (sic(with me on most of my assets all for the purpose (sic) of eleminating (sic) the need of probating my estate upon death. Therefore, after my death such co-owner is to use all my assets for the purpose of payment of all my just debts and funeral expenses and then make distribution of the residue accoding to the terms of this Last Will and Testament "

 

[HomeGuru]

I am more interested in the pention and life insurance with me as beneficiary. Another thing that the lawyer quoted from the will " FOURTH : I intend to place my Mother as co-owner with me on most of my assets and in the event she predeceases me the I intend to place some of my nieces as co-owners inating (sic(with me on most of my assets all for the purpose (sic) of eleminating (sic) the need of probating my estate upon death. Therefore, after my death such co-owner is to use all my assets for the purpose of payment of all my just debts and funeral expenses and then make distribution of the residue accoding to the terms of this Last Will and Testament "

**A: alrighty then.

 

[wannawin]

I didn't know there was an acceptable amount of questions, I thought this forum was for anyone that had a question

 

[Proserpina]

I didn't know there was an acceptable amount of questions, I thought this forum was for anyone that had a question

Put. Them. All. In. The. Same. Relevant. Thread.

Come on - this isn't brain surgery

 

[wannawin]

Which thread would you suggest...and I will !! There are so many aspects to my question, and now my sisters lawyer.

 

[HomeGuru]

Which thread would you suggest...and I will !! There are so many aspects to my question, and now my sisters lawyer.

**A: have you talked to your sister's lawyer yet? Have you talked recently to the probate attorney?

 

[wannawin]

Home Grua

I m interested in your thoughts.

 

[ecmst12]

Not to mention the thread you deleted. Hire your own lawyer, since your questions have been answered numerous times but you keep asking anyway.

 

[anteater]

I am more interested in the pention and life insurance with me as beneficiary. Another thing that the lawyer quoted from the will " FOURTH : I intend to place my Mother as co-owner with me on most of my assets and in the event she predeceases me the I intend to place some of my nieces as co-owners inating (sic(with me on most of my assets all for the purpose (sic) of eleminating (sic) the need of probating my estate upon death. Therefore, after my death such co-owner is to use all my assets for the purpose of payment of all my just debts and funeral expenses and then make distribution of the residue accoding to the terms of this Last Will and Testament "

Remember the mention of a "rebuttable presumption" with regard to survivorship rights on jointly owned accounts? And the difficulty of determining the actual intent of the deceased? My opinion, and it is only opinion, is that this provision in the will probably gives your sister sufficient evidence of the deceased's actual intentions to shift the burden of proof to you to show that the deceased actually intended for the jointly-owned to pass to you upon the co-owner's death.

As for the double/triple the value and attorney fees stuff, my opinion is that this is nothing but scare tactics. 700.1205 (4) states:

(4) If a person embezzles or wrongfully converts a decedent's property before letters of authority are granted, or refuses, without colorable claim of right, to transfer possession of the decedent's property to the personal representative upon demand, that person is liable in an action brought by the personal representative for the benefit of the estate for double the value of the property embezzled, converted, or withheld.

"Colorable claim of right" means that you have plausible legal grounds to claim ownership of those accounts as a joint owner. My opinion would be is that you have colorable claim of right. That does mean that the court would side with you in an argument about retaining the funds in those accounts, especially given the will provision that you mention. Only that embezzlement or wrongful conversion are not present.

But you are on notice. Your sister(s) is playing hard ball. Consult with your own attorney or risk getting steamrollered.