To Whom it may concern, thank you in advance for responding to this message,I need to honestly know,if there is any way,I can track down a living trust, my Dad passed away and because at the time, I was in the US military special ops unit,I was unaware of his passing, once the mission was... Read more »
Obviously under California law my father is entitled to the funds in the joint bank account because his name is also on it. But if there is no will or the other accounts are not listed in the trust is he also entitled to 100% of the funds in the personal savings and checking accounts?
My mother had to put my father in a residential facility due to dementia and not being able to care for him. She is 86 and he is 84. Can she apply for Medicaid? She only gets $700 from Social security and has to pay rent,utilities and prescriptions.
Among the things to watch for is protecting her assets from "pay back" to Medi-Cal. If either or both spouses go into nursing home care, Medi-Cal will keep track of how much money they are spending and try to recover that money from the estate after they have both...Read more »
First of all, you almost never want IRAs or 401Ks in a Trust. Those sorts of retirement plans have named beneficiaries so that the money automatically goes to the beneficiary upon the death of the owner. Having the IRAs in a Trust serves no purpose.
I am my 95 year old aunt's attorney in fact. She is in an assisted living home in Culver City, CA. I need to apply for long term care for her. She has some cash in the bank, but not enough to pay her assisted living bill which is in arrears. California goes back 30 months and says they will deny... Read more »
I am Administrator of this estate and I need some money to pay a contractor. I openned court order blocked account where the funds are deposited. While i wait for other issue to be resolved Is it possible to use that money? How do i ask judge?
It certainly can be elder abuse, but you would have to prove bad faith by the landlord. Is it possible that you don't get your deposit back for legitimate reasons? If the landlord is just a crook, then I am afraid you may just have to sue to get it back.
The Probate process begins with someone filing a Petition with the Probate Court, along with the Will if there is one. A court date is assigned 15 to 30 days out. The petitioner is required to give notice of ths to all heirs, beneficiaries, creditors and persons of interest so that they can...Read more »
If your friend executes a Power of Attorney it will list specific authorities that he gives you over his property. He may have made a very limited one, or a very broad one. If he gave you a broad Power of Attorney then he gave you the authority to handle his taxes, buy and sell real estate, pay...Read more »
My aunt and my mom found out from hospitals my dad passed away in 1989. He owned many properties under his name before and after marriage to another woman since he never married my mom here in California. That was 30 years ago. Searching those properties today online in his name, it's still active.... Read more »
Trust A is generation skipping. Trust B is divided amongst children. Standard HEMS. Otherwise beneficiaries cannot take out money, only what trust generates. Each settlor is deceased, one very recently and he hadn’t been of sound mind for years. Trust was made when tax exempt rate was $600,000.... Read more »
The grantor transferred a trust asset's title to a beneficiary–my brother. But per the trust: upon the death of the grantor, the asset, a condo, goes to my brother, but not for free. To equalize, an amount equal to its appraised value is to be withheld from my brother's share of the trust... Read more »
All questions like this of course depend on exactly what the Trust states.
However, normally a grantor retains rights (written this way explicitly in the Trust) to do pretty much as he pleases with every asset. This only applies to a Revocable ("Living") Trust. If the Trust was...Read more »
Daughter is on SSI, requests mother to be trustee and make new SNT for litigation proceeds resulting from her deceased father's inheritance litigation. Litigation atty claims SNT would be fraud, suggests use of an ABLE acct, but proceeds will be ~$50-60k.
I'm 83 and she is my caretaker and we live together. She has put her life on hold to care for me and I want her to own the house before I die. I have an old living trust that is no longer relevant. I believe the trust splits the property equally between my five children. What type of attorney... Read more »
Do NOT give the house away. It will ruin the tax advantage you have for holding it. If you let your daughter inherit it then she will get to inherit the house with the present value as her tax basis. If you just give it to her she will take YOUR tax basis, which is the amount you paid for it...Read more »
Both of them have grown children. I was wondering if my grandfather's step children had any claim to the property or the finances made if the property was sold? My grandfather inherited the property from his parents.
What you want to do is find something to show what the value of the property was when she died. A good idea is to have the property appraised (cost a few hundred dollars). That will give you a reasonable and fact based idea from a trained...Read more »
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