The fourth heir wants to put house on market to see if a bidding war would happen to maybe get a few thousand more as where the other three are willing to take the garunteed cash offer at apprised value. Can the executor accept the cash offer or do all have to be in agreement
What exactly do you mean by "I have the deed"? Is the deed in your name? Did a transfer deed into your name ever get recorded or even written? Merely having possession of the piece of paper (the deed) does not give you possession of the property, even if it was given to you with that...Read more »
Yes, definitely the Revocable Trust can be the beneficiary of the IRA. And the Trust can then distribute proceeds, per the terms of the Trust, to the children. Taxes on the IRA would normally be paid by the IRA at the time of distribution to the Trust.
What is a typical payment arrangement? I assume no payment is necessary until the agent actually begins carrying out his duties. Is the payment arrangement something that should be spelled out in the power of attorney document?
Living Trusts are not filed. You may do so if you choose, but most folks do not file (record) them but instead keep them private. Should you choose to record it, it is done as your local County Recorder's Office, where deeds are recorded.
Assuming all the boxes on the standard form POA are checked, then YES. In fact, I am doing just that this very week for another family. Love to help with yours if you wish. Thank you. email@example.com.
Family member A has Family member B as beneficiary in their will. Family member A's financial advisor has Family member C as beneficiary. What entity take precedence upon death of Family member A's death?
Under what NYS SCPA provision, can a beneficiary petition the Court to commence a proceeding against a fiduciary if the Executor refuses to refund property taxes that the beneficiary paid on behalf of the Estate? The testator directed that all his debts and administrative expenses be paid out of... Read more »
The executor of the estate, who is also a beneficiary has removed "all" personal items of the decedent from the home. The executor was given the home in the will. The other two beneficiaries were not given an opportunity to go through any of their father's personal items, furniture,... Read more »
Yes, they should sue. The Executor is not authorized on their own to do this. They should be communicating with the other beneficiaries. Yes, this certainly could be grounds to have them removed and replaced.
We just wanted to know if it's in our best interests to vacate as soon as possible. I assume the landlord will get a much higher rent since it's rent stabilized. Can the landlord charge double rent, i.e., to my mom's estate and to the new tenant? I don't think so, but just thought i'd confirm.
No. Landlord cannot charge double rent. Were you on the lease? If not, they you cannot be charged a dime either. But it is even questionable about charging the estate while you are there. But you should immediately vacate to avoid the issue.
Yes, but only if you have your living trust well crafted. It needs to make it clear and specific that the ownership will be only in your son and not as community property or marital property with his wife. I do this frequently.
I did not want to purchase the warranty but without it I was not going to be allowed to purchase the vehicle. I requested written information regarding the warranty but nobody at the dealership was able to provide me with that, all they could do was tell me that it was mandatory and would be valid... Read more »
Hi! I'm an international student at Cornell University. My roommate and I currently live in an off-campus apartment in Ithaca. Due to the virus situation, we decided to move to Long Island and study online next semester. However, before the pandemic, we renewed and extended our lease to next... Read more »
Afraid all you are likely to be able to do is try to negotiate with your landlord for a reduced amount as payment in full. Unless NY passes an emergency exception for student leases, and they have not I understand, you are stuck. Common problem.
This lawyer did parents estate when mom had dementia put her on medicaid for $. Then sibling gets excess income I have to pay, created accounts w mom as joint, refused to pay me back, I couldnt object no lawyer, really want them all caught but no help but need to know my future I have mom and... Read more »
We have an irrevocable trust in New York state from 2012. This was created as part of a larger estate planning that included wills, health care proxies and two trusts. Everything else was properly notarized except this one trust. It is signed by the grantors, however where the grantors signed is... Read more »
The bond is to protect all of the heirs if the administrator does wrong. Signing a waiver of bond will permit the administrator to proceed without a bond, thus without the heirs being protected. Bonds cost money and the waiver saves that cost, which comes out of the inheritance.
The husband had a stroke and is on disability. He wants to put his house, co-owned with wife , in an irrevocable trust for his children. He is then going to receive Medicaid to pay for his maintenance in an assisted living institution. Is the house protected from the liens or other governmental... Read more »
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