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My late parents had assets in an irrevocable grantor trust. The beneficiaries are all in agreement, and wish to disolve the trust. How does one go about doing that? the trust holds some funds, a residential house, and a small interest in a commercial property. Thank you.
answered on Apr 4, 2023
I would want to see the terms of the trust. Generally, most terms would allow that with all the beneficiary's unanimous agreement, written and signed by them all, and presented to the Probate Court Judge, it would then be dissolved, as if it never existed.
Do i have any problems here? Or is this possible to partially own one company as another LLC ( B ) while still sharing ownership with a single individual of LLC (A)
Is a healthcare proxy sufficient or do I need more?
answered on Feb 4, 2024
A Healthcare Directive. Available for free at most hospitals. I prepare them regularly for you.
answered on Jan 10, 2024
Neither. With a Living Trust. I have done countless thousands for precisely this reason!
I am a man in my late 60s and I want all of my death assets (money, house) to go to a trustee (my attorney's office) when I die. When my underage sons turns the age of majority, then I want him to control these assets.
Should I do a testamentary trust or a pour over will?
Edit:... View More 
My girlfriend was admitted to the hospital with a very serious condition and she’s constantly complaining of pain which is very normal but doctors yesterday told me that they find it very strange and therefor won’t allow anyone from visiting her !
She needs me to be there for her and... View More
The person is married and has children, lives in New York..
My wife’s mother passed away. We are not sure if her bank account had a beneficiary or did she have a will.
Her mother is legal married..
would happen to her bank account now that she is deceased?
What... View More
Does A Lawyer have to review it and at what cost?
answered on Apr 4, 2023
I would not trust a pre written generic living trust document. You should have it prepared by an experienced expert.
I have a hand written contract signed by myself and the other party. The contract states I made a down payment of $2300 for concrete work on my property. The check was cashed and in the memo it states it's for a concrete patio. That was in may and no work has been done. I just keep getting... View More
answered on Jul 13, 2022
How much cash are you out? If it is within the limits of small claims court, it would make sense to sue that way, YES.
I recently signed a lease for an apartment that was advertised as having "private roof deck". The posting went as far as including staged photos of said roof-deck furnished with patio furniture.
The roof has only one entrance through a door inside the apartment.
The... View More
answered on May 23, 2022
Landlord is breaching the contract. You have right to roof deck, even if it means taking him to court!
the relatives left behind are a 23 year old daughter, 16 year old son, and 13 year old girl. No spouse exists.
answered on Mar 7, 2022
It will definitely go to Probate Court. There a judge will make the final decision. With only one adult child, the judge will rely heavily on that child and any wishes expressed by the deceased.
I have noted in writing and in person that I will not and cannot use this warranty, I dont keep my car for longer than 2-3 years and will never use it. The extended warranty would extend the basic warranty from 3 to 5 years. I never have a car that long and have asked for it to be removed. Is this... View More
answered on Jan 18, 2022
I would absolutely refuse the demand and contact the Attorney General's Consumer Fraud division for immediate assistance!
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
answered on Sep 1, 2021
What does the will say? Does it require unanimity? If not, then Executor may decide to proceed.
I’m being told that my cousins have rights to this house. My mother was the youngest of seven children and has died but now I’m being told that the house has to be divided among my cousins.
answered on Aug 28, 2021
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... View More
IRA value $700K. Can Inherited IRA live in trust with distributions to children's accounts? What/who is taxed?
answered on Aug 25, 2021
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?
answered on Jul 27, 2021
Do not use an attorney. No reason to spend that money. Anyone you trust who has reasonable acumen, can perform the task. If you wish to pay anyone, yes, be sue to spell it out.
answered on Jun 15, 2021
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.
answered on Jun 11, 2021
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. garyleelane1@gmail.com.
answered on May 5, 2021
I am available via zoom when you wish. I have been exclusively doing Living Trusts for 21 years. Thousands of client. Love to help you. garyleelane1@gmail.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?
answered on Jan 13, 2021
Which disposition is the most recent? The will can supersede the prior order, but it can also be superseded by a subsequent change.
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