Legal Question in Wills and Trusts in Massachusetts

Re: Massachusetts requirement for probate

It is a combination of both, the mutual fund company and the state

law.

1) The mutual fund

company at some level doesn't want the

responsibility of having paid the wrong heir, so they

want a Mass. court to determine

who should be paid, a function of probate. With that

judgment being made by a court, they can rely upon it. The

alternative would be to pay their customer's heirs as the

customer may have wished, but if someone subsequently came

forward and made a probate claim, the mutual fund company

would have to pay them as well. However, using the court

system, under our state's laws, the mutual fund company

would not be required to pay a second person if the first

claimant's claim (again, through the use of probate) had

been approved by the Court.

2) If they are incorporated under this state's

laws as an investment(mutual fund) company, the state regulatory agency

requires many (standard) policies and procedures

for security against theft, fraud, etc. most of which

safeguard customers and help ensure that the company will be able

to pay back what's given to it.

When a probate case is opened for someone outside the state where they

died, it is called ancillary probate.

If you would like me to establish an ancillary probate for you, please

start by writing to me directly at [email protected] or else by telephoning

me. I am actually going to the courthouse this Friday morning to open two

probate cases and could file for you

if by some miracle we connect before then.

to start the file, I would

at least need to have a death certificate in hand (and a retainer).

If there's a will, for now, I'd want a copy of it. If there is no will,

I'd want to see a copy of a statement from the brokerage house.

Shall I assume that one of you (man and wife?) has had a parent die recently,

leaving no spouse? Are there any other children? If so, are you named excecutor

in the will? What is the estate's total value? Are you Hoosiers?

I'll be available by telephone this evening as well as tomorrow, at (617) 527-0050.

What is the name of the mutual fund company?