Smart Money: Improperly filed will lacks validity

Dear Bruce: My husband's father recently passed away. Before his death, my husband asked his stepmother if his father ever made a will. She answered rudely: "Yes, and he left everything to me." Yesterday, my husband went to the clerk's office to read the will, but the clerk told him there was never a will registered there. Does a will have to be registered to be valid? -B.M, via e-mail

Dear B.M.: A will has no validity unless it is filed with the probate's office in your state, period. In the event no will is filed, your husband's father will have died intestate - bringing the intestacy laws of his state to bear. Usually that means the wife gets one-third and the children the remaining two-thirds. Since you say she responded "rudely," it seems there's a certain amount of animosity here. It would be far better and cheaper for the family and this lady to sit down and talk. If, in fact, your dad did draw a will leaving everything to his wife, all she has to do is file his will and she gets it. Of course, the children can contest the will if they so choose. But contesting requires the services of an attorney, and it can be an expensive proposition.

Law requires sales tax for vendors

Dear Bruce: I have been picking up some spare money on the weekends at a local flea market. I rent a table, I buy stuff here and there, put it out on the table, and sell it for a little bit of a profit. We do quite well on a couple of items, but the big difference between the regular stores and us is that they charge sales tax and we don't. Last week, some inspectors from the tax division came through our place and scared the heck out of most of us. They told us that, if we didn't start charging tax by the following weekend, we would not be able to sell our items. Things are bad enough without having to add tax onto the cost of our products. -Reader, via e-mail

Dear Reader: Welcome to the real world. These folks don't charge sales tax; they collect sales tax as mandated by the law in your state. They don't have any choice in the matter; nor do you. Yes, you have a clear, unfair advantage if you don't collect the tax as the law requires, but that is hardly fair to those people who follow the law. Many folks in your position ignore that, but in some cases, it is to their sorrow because the penalties can be severe.

Sharing executor duties may be a hassle

Dear Bruce: My mother passed away and left my sister and me as co-executors of her estate. We are the only heirs. The problem is that we don't live in the same state. My sister wants me to sign papers to relinquish my status so that it will be easier for her to clear up the estate, instead of everything coming to me for a co-signature. My mother entrusted both of us to handle her affairs, and I hate the thought of relinquishing the status, but I don't know whether I have another choice. What should I do?-Reader, via e-mail

Dear Reader: Do you trust your sister? Do you think she's capable of carrying out the job as executrix? Although your mother wanted both of you to handle her affairs, it can unfortunately become a drag. If, on the other hand, you're not sure that your sister is capable of taking care of these matters, you're going to have to insist that everything be sent to you for your signature. In today's world, with overnight delivery, the time delay would be minimal.

What to do when the mortgage is paid

Dear Bruce: I recently paid off the mortgage on my home. The mortgage was purchased from the private individual who financed the entire transaction.

How do I file the cleared title? - Reader, via e-mail

Dear Reader: If the individual were acting as the mortgage company, he would be holding the appropriate releases. Check with him. If he can't figure it out, you might have to hire an attorney to sort it out. Congratulations on being debt-free.

Bruce Williams is a national radio talk-show host and syndicated columnist based in Florida. He can be reached at bruce@brucewilliams.com.[[In-content Ad]]