View Full Version : What happens to an inmates inheritance?


elbw2
06-01-2008, 03:36 PM
My mother in law and I were curious if anyone knows what happens if someone passes and leaves an inheritance to an inmate. Such as life insurance policy or property. Does it go into a trust or what. If they inherit property wouldnt they be responsible for taxes. She is very scared she might pass befor ehe gets out and wants to make sure that if she does he is not broke. Although we are married I do not hink I would be comfortable with her leaving stuff to me, I want to make sure no matter what he is taken care of, we are only 3 months into a 30 yr sentence so I also considered getting life insurance on myself even though I am only 26 anything can happen.

Mahatma
06-01-2008, 06:01 PM
I will keep searching for some information on the web but I think you are going to need an attorney for this. I think I know some things she could do, but without a lawyer saying yes or no I am afraid to even put it out there. Need someone or something that states for sure what the rights of a convicted offender who is incarcerated are.

RobinsMan
06-01-2008, 09:44 PM
My guess is that it is his inheritance regardless of the fact the he is incarcerated. He would need help on the outside to facilitate conducting business with it but it is his inheritance. Just how his mom might want to leave an inheritance for him is really up to her and like Mahatma said it is best to consult a (*choke*) attorney. I definitely keep life insurance on myself with Robin as beneficiary to pay off into an account that would also be the one that her commissary is automatically drawn from.

smallngood
06-02-2008, 12:28 AM
Consult an attorney- -BUT- -if the attorney charges you for the VERY first visit, don't hire him/her.
The first visit ought to be no charge since all you are finding out is GENERAL information.
Never trust a person that charges you for information on IF you want to hire them or not- -no matter WHO it is.
For the record, lots of inmate are supporting themselves in prison by a trust fund from a deceased person.
Be safe.

ReggiesLady
06-02-2008, 05:44 PM
I know several guys who were given an inheritance and who are serving LONG sentences. One of them handles his bank account stuff on the inside and says it takes him a long time to get anything done because he has to write letters to the bank etc. and another one has a friend appointed as his "power of attorney" who handles all the taxes on some land he inherited and makes sure he gets money on his books etc. Your husband's mother will have to set it up that way in her will because it won't just "automatically" happen. I'm not sure what part of texas you are in but if you need a few references for attorneys, let me know.

In my case, hubby's mom and dad are giving all land and monies to me when they die "just in case" they pass before he comes home. They could change their will to say otherwise when he comes home but for right now that's how they have it.

Mahatma
06-02-2008, 08:42 PM
Taxes, insured worth etc. are all things that change in time and have to be paid. It is hard to appeal a property tax or figure current insured worth of items from inside. I can spend and entire morning waiting on people to return calls, searching for the best price, or finding an actual replacement cost on an item. I wonder what that morning would translate to with someone serving time in ad-seg.

ReggiesLady
06-02-2008, 09:04 PM
I sure since it takes FOREVER. But I guess if that's the only means you have then you have to be VERY patient. I'd imagine a lot of things are set up to be paid automatically though.