Home Forums Hunting & Shooting Hunter's Campfire Inheritance

This has been a rather traumatic week. A few weeks ago, my FIL dropped dead (heart attack). Turns out he was hiding my MIL’s Alzheimer’s. We are now in process of getting her into our home for a short time as we get her into an assisted living home

Add to that I have now inherited his 2005 F150. Yes, it’s 16 years old, but it has only 36k miles, he was the only owner (bought cash) and besides the aluminum bed cap he had

https://i.imgur.com/igIqddp.jpg

https://i.imgur.com/CiLJZkC.jpg

https://i.imgur.com/XkCOI14.jpg

https://i.imgur.com/RjJ0woz.jpg

It has power-nothing, but I have to say, I like the old girl. But I’d rather have the FIL back

My first father in law was like a father to me. He was a tail gunner in a B-17, worked 35 years for Superior Oil Company. He was very good to me. It was tough when he passed. Sorry yours is gone!

I had an '05 F150 my father-in-law (still living) gave me, had about 40k on it when I got it in 2013 and had about 190k on it when I sold it a month ago. One of the best vehicles I ever had and especially if you overlook the difficult but not impossible job of replacing plugs in the 5.4L.

He's a cool dude and we have a lot in common: USN aviation and electronics backgrounds, and he's damn near as conservative as I am. Oddly enough, my politics align almost one-for-one with my mother in law's. We're like two peas in a pod.

I have great in-laws and I love them to pieces.

I hate to hear about your FIL . It sounds like he was fond of you and wanted you to have the truck . Maybe you can smile when you drive it and think about him .

I had a similar truck as a company vehicle with the 4.6 auto and it was good on fuel . A man cant have too many trucks .

Hate to say it but just 16 years ago things were simpler.

Sorry to hear about your FIL.

I just picked up a 2005 f150 with 80k. Nice thing is parts are easy to get.

No idea how this works, but how did you inherit it?

How is the home going to be paid?
It might be tied to their estate which has to pay for her care.

Be cautious, you could end up paying the home for the truck.

Again, not a lawyer. Not in your state, no idea what kind of
preparations have been made.

Sorry for your loss. Nice truck.

^^^This^^^

You'll need them too.

My wife already broke it after 3k miles

It was in the will. Still technically in probate but once it clears the MIL or the POA will sign it over to me

Thanks for the kind words. Found this guy stuffed behind the seat. My FIL loved Christmas, do I tossed it on the dash and gave it his name:

https://imgur.com/a/NraTzeg

In my state the state is not interested in vehicles over seven years old nor in household goods.

I’m taking as many steps as possible to take as much as possible out of the hands of the probate court. Beneficiary deed on my house takes my home out of my probate estate and will transfer my home straight to my kids...on the stepped up basis...upon my death. Beneficiary deeds on my vehicles takes my cars out of my probate estate and they’ll go straight to my kids upon my death. Transfer on death setups on all financial assets takes all financial assets out of my probate estate and they’ll go straight to my kids upon my death. The only thing left is my residual estate...basically the stuff in my house...and that’s the only thing that the probate court will have any say so over at all. And hopefully they won’t even wanna dick with any of it.

Good man. The government doesn't need its stinky fingers in any more than it already has.

Agreed. The whole system is setup so that the government can steal as much as they can from your heirs.

Amen. As is much of everything else.

Federal Estate tax doesn’t kick in until your estate exceeds 11 million. A few states tax estates larger than 1 million. Less than that and your heirs will be fine.

Transferring assets prior to death is sometimes done to help someone qualify for state benefits to fund a nursing home stay. Essentially, this is asking your neighbors to pay for your care while you hide your own money. Sounds pretty creepy to me.

In the OP’s case, the value of the old truck is really pretty small. Neat that it went to someone that could appreciate it.

The government can extort quite a bit from someone’s heirs during a 6 to 24 month probate, even if their assets are well under the federal threshold. Filings, motions, etc.. Makes sense to me to relieve the government of their opportunity to steal. It’s easily done.
Medicaid Estate Recovery will go after everything they can from the estate of a deceased person who racked up a big Medicaid bill for nursing home or assisted living. They can go back for a period of years. And if someone has taken steps to ensure that their assets do end up with their heirs, and ‘then’ require placement in a nursing home or assisted living, they can be denied. Granny with severe senile dementia who needs tube feedings and bladder and bowel care can live with her daughter and son-in-law and their children. Or they can collectively undo the protective mechanisms granny had in place, she can go into long term care, and the government will put liens on the house and any other assets they can get their mitts on.

I thought anything put in a will removed it from probate?