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Old 02-10-2010, 12:14 AM
  #11  
Bruce W
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Join Date: Feb 2001
Location: VA
Posts: 14,983
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Thank you ALL for the comments and info! It caused me to think about some questions for the lawyer.

I contacted the lawyer yesterday and he said we SHOULD chat beFORE I make the appointment to go to the Circuit Court to start the probate. I am seeing him Friday morning.

Talked to a neighbor today that had to probate a Will a few years ago and he also gave me a little info on the process. He said he thinks there is about a $1M "exemption" on estate taxes from the Feds now? Also, sounds like that because my aunt had a Will, and currently owned no real estate, it will make it easier, and quicker! Ran into the real estate agent that sold my aunt's condo (her last "real estate") and she said the current exemption on capital gains on real estate is $500K - that's good! Neighbor said he thinks it's a one year "wait" for distribution, to allow time for claims/liens, if any, to be filed.

Neighbor even mentioned that there are "estate bonds" that can be purchased that will "guarantee" an amount from the estate, based on provided info? But he said they are expensive, and, if the "net" from the estate is LESS than the bond, the estate (or an heir?) will have to pay BACK the difference?

Interesting stuff, but I will verify and LISTEN to what the LAWYER has to say!

Will post anything I find out that may help someone else who may have to go through the process - even though it differs from state to state.

Thanks again!
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