My mother sold her house, which was her only asset (besides her old car), so now her only asset is the money in the bank account. It is a joint account with me, so I have full access. So this won't be considered as part of the estate. So there really is no estate to speak of. Do we need to... View More 
answered on Jun 11, 2023
The issue is whether we need to protect that money from long term health care. That is a crap shoot to some extent, so it depends on mom's age and health. But if it goes into an irrevocable trust and is in there 30 months then it becomes invisible to the government when they look to see if... View More
ordinance # so there is no transfer tax due, can you help
answered on Mar 31, 2023
Not sure what you are looking at. There will be no transfer tax due for a transfer in or out of a trust for your own benefit. You need the deed to state that it is a transfer per Tax and Rev Code 11930 so that the clerk know no tax is due. You will also need a PCOR form from the clerk which is... View More
Basically my father wants to leave the property he has in New York State to me in a Will, 4 acres, 2 to me and 2 acres to his stepson and Step Daughter. What I would like to know if it is best to Will it to us or if there is another way we should be handling it before he passes on? I and him live... View More
answered on Jan 28, 2023
Most people will benefit from a Living Trust, coupled with a "pour over" Will (it pours your stuff over into the Trust -- I did NOT invent that name myself). A Trust allows you to plan your estate without it going through the Probate process after your death (even a modest estate without... View More
If a beneficiary is going through a civil lawsuit right now can I change my revocable family trust to remove them legally? Or will this get questioned as me trying to hide assets from potential future creditors?
answered on Dec 21, 2022
The beneficiary has no rights or expectation of assets from a Living Trust because the gift is just a plan to give, maybe. Change the Trust all you like. You might even want to change the gift to this person to an irrevocable trust that can be proof against his creditors.
She is on a fixed income and recently refinanced the home because he demanded she pay him back for the down payment which was over 20 yrs ago. She has been the only one paying mortage, utilities. Hes been there freeloading. Now hes demanding she leave, its his house. Shes not allowed to eat his... View More
answered on Aug 17, 2022
It is past time to go to the court and ask for a restraining order. Your local courthouse will have a free clinic that can advise mom on how to do it, they will prepare the papers and point he in the right direction. Financial abuse, violence or the threat of violence and isolating from family... View More
He won’t let us visit but has POA over her
answered on Jun 26, 2023
He is not allowed to isolate the senior. This is a form of elder abuse.
Go to your local court house to find the restraining order clinic and they will help you get a restraining order to fix this.
answered on Feb 14, 2023
That depends on his residency status and whether the IRS would look at him as a resident of the US with intent to stay. If you pass the test then he is taxed like a US citizen and no issues arise. If not, then the tax situation is much different (worse).
No children or living parents. Sibling is beneficiary, niece if sibling dies before me. Only assets in the trust will be my share of a home and personal financial assets.
answered on Dec 5, 2022
Nothing beats an attorney giving you personal service tailored to your needs, because mistakes are very expensive in this field. BUT, yes, FreeWill is reputable and honest.
This would involve removing one who has died, adding names and changing % distribution; other text would be copied remaining as is.
answered on Aug 1, 2022
Yes, but be VERY careful.
Some trusts are very complex and some aren't. The trick is to make sure that you only change what you want, without effecting any other part.
There is a 2nd adult daughter that he is excluding. How can he do this? Will a quit claim deed suffice? I believe the house is free and clear. Hispanic family but full citizenship. Please advise me what to tell him or where I can send him for legal advice. He is definitely low income.
answered on Jan 8, 2022
Don’t gift away large assets!
This is all about your tax basis in the asset. The tax basis is the amount the IRS uses to figure out your profit when you sell, so they can tax the profit. Usually, this amount is the purchase price.
If you give someone an asset, you also give... View More
answered on Dec 26, 2021
That depends on how the deed is worded. If it lists you as a joint tenant with rights of survivorship then you are now the full owner and skip Probate, but you need to file an affidavit with the county clerk and show them the death certificate to get the house recorded in your name alone.... View More
Clearlake not San Lorendro
answered on Dec 15, 2021
If she left it in a Will then you have to go through the Probate Court and get the court to order the new deed.
If she used a Trust then you could skip that step.
The value of the property is under 300 K.
answered on Dec 2, 2021
You bypass Probate. But you need to file an Affidavit of Death of Joint Tenant with the County Clerk. The clerk's web site will have the form.
Jack and Jill transfer property to Jack and Jill has Trustees of 2005 trust later jack-and-jill transfer to Jack and Jill as Trustees of 2010 Trust which trust is the property in is any corrective action necessary where would the hang-up be at the title company the recorder the Assessor and does... View More
answered on Oct 15, 2021
It sounds like only the first deed is valid. Jack & Jill were not the owners as individuals at the time of the second execution, that is, if the second transfer was as individuals as you imply.
There is no will. She started the divorce paperwork but didn't finalize anything. Is she entitled to everything. My brother does have a daughter.
answered on Sep 23, 2021
Probably she gets everything if there is no divorce and no Will or Trust that says differently.
If they are divorced then she gets nothing.
If they have children then they get a share.
She is unable to pay her bills and refuses any type of help or to go to the doctor. I fear for her safety. Wellness checks from the Department of Public Safety in La Mirada have resulted in reports that state that she should not be alone. Home visits from SASSFA have stated that she is confused... View More
answered on Jun 22, 2021
She can grant you Power of Attorney if she has the capacity to.
It sounds like it might be too late for her to sign anything. In that case you have to get the court to grant you a conservatorship. It will require a form from her doctor plus a pile of papers, and an investigator will... View More
...because they know how things work in that county, they know county staff if document issues arise, and their travel fees will be lower?
answered on May 9, 2021
Do you mean to do the Probate, or to do the planning?
For Probate, then yes local will be best.
For estate planning, find someone you are comfortable with. Location won't matter.
Her brother died, he was 75 and had no dependents. Mom is the next of Kin. She receives her deceased spouses SS Retirement benefits that started when she retired at 62. She was left to take care/close out his banking and found out he had a 401K and an IRA. She is a beneficiary on one and had to... View More
answered on Apr 14, 2021
If she is receiving SSI then sudden money will kick her off, probably. If she is getting regular SS then that won't stop, but it may make some of it taxable.
The Special Needs Trust would have to be a Pooled Trust because of her age. A charity runs it and decides how to spend the... View More
We both want to be able to remain in the home, make improvements, or sell if the other passes away. He wants to ensure his children to receive his share of the proceeds if the house is sold after his death. We may get married and have more children in the future. What is the best ownership... View More
answered on Apr 12, 2021
TIC, or put it in a Trust.
Joint tenancy would mean that when A dies, B gets it all. B may not remember or want to give assets to the children of A. B might just meet a new person after the funeral and forget A completely! It happens, and poor A's kids get left out in the cold.... View More
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