I, along with 3 others (one of whom is my husband) are looking at buying a large plot of land. Two of us have experience farming and we would like to farm the land for personal use. We would also like to provide food from the farm to those in need. So we would like to apply for nonprofit status and... View More
answered on Dec 7, 2020
The "simple" answer to your question is it is possible to operate a non-profit and a for-profit on the same land. However the more important and complex questions are (i) does it make sense from a tax and business point of view; and (ii) what are your for-profit goals or objectives. You... View More
If he transfer deed now. Will he need to redo his will, which states his estate is shared among his seven children?
answered on Oct 30, 2020
if your dad wants to give his house to your sister he may do so by deed now. He should however meet with an estate planning attorney since the gift of the house may change his mind about sharing the rest of his estate equally among the 7 children (since your sister would then get the house + 1/7... View More
answered on Oct 2, 2020
you will have to look at the Deed. "Joint tenancy" can be either Joint tenants with the right of survivorship (in which case the survivor of the two joint tenants owns 100% of the property) or tenants in common (in which case your aunt can state in her Will who inherits her 1/2 of the property)
Must an executor be named and an Estate Account established if there will be no sale of property, just the reclaim of a small amount of funds?
answered on Sep 24, 2020
There is not enough specific information here to give you any specific answers. There is no requirement to open an Estate administration every time someone dies. If there are no assets to collect and no debts to pay it may be possible to avoid an administration. There are times when companies... View More
He has another one that was revived twice it expires again in 2021 do I have to pay them it ran out last time and they still let them revive it
answered on Sep 18, 2020
you have a number of issues going on that make it too complicated to give you a short answer in an email like this. you need to meet with an attorney with experience in probate and real estate to determine what your obligations and options are, especially if you are the estate administrator.
Need advice re Highly valuable international energy saving patents authored by recently deceased inventor and assigned to small Pa. company in which I hold shares and from which I am owed $.
No will or probate action I can find. Death in early 2020. Processes now being used by Morton... View More
answered on Sep 14, 2020
There are a lot of unknown facts in your question/scenario which require review of existing documents ( the Company documents -Bylaws or Operating Agreement / Buy-sell / your loans to Company) (the Assignment of patent rights) and possibly some research regarding registration of the patents and the... View More
The house is in his mothers name. He never transferred it to his. The house is a Lost cause and will cost more than it is worth. I don’t want the property.
answered on Aug 28, 2020
You will need to meet with an estate attorney to review the Deed and your dad's Estate (if there is one). There are several steps you can take to protect yourself, including not opening an estate and having the executor refuse to accept the property, but you will want to review your options... View More
The estate was just a bank account consisting of around $76,000, of which I have already paid funeral and state taxes. Additionally, all beneficiaries have received their share.
answered on Aug 27, 2020
You do not have to file a 1041 / PA-41 if the Estate did not have any income. Some individuals file a -0- income 1041 and PA-41 and check the "Initial Return" and "Final Return" boxes on the returns to create a record that the Estate did not have any income and will not be... View More
No estate account was opened.
answered on Aug 24, 2020
There are limited opportunities where the issuer of the check may be willing to issue new check to surviving spouse or surviving child. Banks and brokerages will usually require proof that funeral was paid for.
When is she entitled to that income--upon the death of my father(1) or upon the official establishment of the trust(2) And if answer is (1) how should the payment of these expenses be allocated between income and principal? Thank you.
answered on Aug 14, 2020
This is a general answer to your questions since to give specific answers one would have to review the Trust document itself. You refer to a Testamentary Trust, so by definition the Trust does not become effective until the death of your father. You then refer to "payment of these... View More
Everything else of the deceased was jointly owned except for the PayPal account. The PayPal account is tied to a jointly held bank account. Can the surviving spouse transfer the money into that account? Can PayPal be required to release the money with just a death certificate? Would anything else... View More
answered on Aug 3, 2020
Have not tried it with PayPal yet but most banks will release accounts of less than $10,000 when provided with copy of death certificate by surviving spouse and proof that the funeral has been paid for
How do I proceed to obtain the money in the bank account? It's under $2000.
answered on Jul 29, 2020
Assuming that your daughter had no Will, was not married and had no children, as the surviving parent you should be able to go to bank with a copy of death certificate and proof that the funeral has been paid for and the bank should then be willing to give you the money since it is less than... View More
My Mother left a Will pertaining that my if my sibling no longer live at resident the house has to be sold.The sibling wasn't living there when the Will was written hasn't live there for over 2 yrs. never changed there mailing address so all the mail goes there,another sibling and... View More
answered on Jul 25, 2020
This is a case where cannot give you an answer without reading the exact words of the Will. But in general conditions in a Will such as this are enforceable. So if the Will names a particular sibling, and states that the house is to be sold if that sibling is not living there, and that sibling is... View More
We have separate wills. I have provided for my son and my husband has provided for his son. If I pass first, would my husbands son receive everything and my son nothing?
answered on Jul 20, 2020
You state that you have separate Wills, but it is not clear if you are leaving everything to your husband if you die first (in which case his Will would control all assets when he dies (and vice versa if he dies first) or if you are leaving your husband out of your Will and trying to leave all... View More
My father, whom I was estranged from, died in April 2020. I am curious about his will and would like to know its content. I have no idea who the executor is or if there is one. He died in a nursing home. County says no will has been registered at this time. 1) Does someone have to file a... View More
answered on Jul 2, 2020
Your post shows Oregon as the origin so I will start off by saying probate is state specific, depending on where the decedent resided at the time of death. That being said, in Pennsylvania there is no requirement to probate a Will unless the decedent had sufficient assets to open an estate, and... View More
Hi, Here’s my question.
My father has own land in Puerto Rico for about 30+ years Maybe even reaching 40 yrs.
Me my brother and my sister are all adults, we were supposed to keep the land and the house in Puerto Rico after his death.
But he has been married now for quite a... View More
answered on Jun 29, 2020
This is not the kind of question that you can get a general answer to. Many questions such as does dad live in Pennsylvania or in Puerto Rico. And where were they married? and does dad have a will? you (and dad) will need to meet with an experienced estate planning attorney to make sure dad has... View More
I have registered an LLC called XYZ INVESTMENTS. With this newly registered entity, I have invested in a produce store called FRESH PRODUCTS, and bought 25% share under XYZ INVESTMENTS in FRESH PRODUCTS business. Now FRESH PRODUCTS has 4 business partners (which also includes my LLC - XYZ... View More
answered on Jun 16, 2020
there is no way to give you a general answer to this question. the primary document you need to review is the Operating Agreement or Partnership Agreement for Fresh Produce. Most agreements have provisions that either allow or prohibit the partners/members from engaging in competitive businesses... View More
answered on Jun 8, 2020
you really need to meet with your own business attorney to discuss not only the sale of the recipe but also all the issues with being a less than 50% owner in someone else's business. you may prefer a royalty agreement (% of sales) to being a co-owner
My brother says since he shared a joint account with my mother when she passed he is not legally obligated to split the estate and inheritance. And all her money belongs to him. She had no Will from what I understand which means her estate should have gone through the probate process.
I... View More
answered on May 3, 2020
you should consult with a lawyer familiar with estates on this. the answer is "it depends" if the only asset mother owned was the joint account with your brother there is a good chance he is correct. but there are other factors which could be involved which could change that answer
Grantor still alive, Pennsylvania. All other assets divided evenly. Trustee-brother wants to sell, put back in trust so that he can take HALF of proceeds of house upon grantors death instead of daughter getting 100%. Commingling?
answered on Apr 27, 2020
there are so many unanswered questions here. Would have to review documents, relationship between the parties, timing and capacity of the Grantor. First step would be to meet with an attorney to start to review all of the above
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