What to do if my father passed away last week and I am his POA?
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What to do if my father passed away last week and I am his POA?
He has a house that we will be selling in about 6 weeks. Does it have to go through probate and will the money from the sale of the house be taxed? I know of all outstanding bills and have enough cash to pay for said bills. Basically do I have to go through probate?
Asked on October 30, 2013 under Estate Planning, North Dakota
Answers:
Anne Brady / Law Office of Anne Brady
Answered 11 years ago | Contributor
First of all, a POA is meaningless after death. You can not have power of attorney for a dead person. What matters is who was named his executor in his will. If he did not have a will, then his possessions will pass according to your state's laws of intestacy. Unless the house was owned by a living trust with beneficiaries, then yes, it will have to go through probate. You are not going to be able to sell it in 6 weeks because you will not have a clear title. When you do sell the house, you will not have to pay estate tax unless the house is worth more than $5 million. Unless your father's bank accounts were held together with you as joint tenants with rights of survivorship, they will need to go through probate as well.
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