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The beneficiaries (I am one) are disputing the final Accounting provided by the Trustee for various reasons. The Trustee has retained counsel to push our hand, but in reviewing the Trust, there is a section regarding "Conflict Resolution" that specifically states thar arbitration should... View More 
answered on Sep 28, 2022
Thank you for your question. Getting to arbitration is a process, which generally requires a law suit to be filed. The language seems clear but it is not. The language is saying that a lawsuit which is governed by arbitration is generally less expensive than a full blown law suit. Both choices... View More
Im just trying to do what I can he past away in 2018 and my own family hasn't done a thing I'll pay almost anything
answered on Sep 12, 2022
Thank you for your question. It is important that you know that transferring real estate under circumstances like this can be very complicated. I recommend that you work in stages. The first thing your must do is find out if your father is still the legal owner of the property. Contact a real... View More
In the case of divorce - Trust 1, which has a clause that names the beneficiary as spouse A & states distributions are not community property, owns an S corp (an LLC). The S corp paid distributions to spouse A, which were claimed jointly as non passive income in a community property state (AZ).... View More
answered on May 25, 2022
Unfortunately, you are asking a very difficult question. The answers hinge on the documents currently in place as well as the status of the divorce. The attorney will need to see if there is premarital agreement in place. If so, that agreement may control. We also need to look at the S... View More
I am the Successor Trustee for a relative's Revocable Living Trust. Can I get either a Tax ID Number (TIN) or Employer ID Number (EIN) for the Trust prior to the Trustor's death? The purpose being to smooth things out a little after the Trustor's passing and not for taxes prior to... View More
answered on Apr 21, 2022
Thank you for your question. EIN and TIN are the same and are applied for on the same application.
The answer is you CAN get an EIN (Employer Identification Number) or TIN (Tax Identification Number) for a Trust, but it generally is not a good idea. When the Trustor is alive, the Trust... View More
Trust stated that upon sale of house, she receive 50% of the proceeds and 4 adult kids (2 from his previous marriage and 2 from hers) receive the other 50% of the proceeds divided evenly. She sold the house and is still living. Is this considered inheritance for the kids?
answered on Apr 4, 2022
Based upon the information you provided, the distribution is an inheritance to all parties.
However, there is more information you need to know. Even though the asset is an inheritance, there may be capital gains tax which must be paid upon the sale of the house. The house got a new... View More
I am in Arizona. I am the sole owner of the property. Do I need to file a deed revocation, revoking the beneficiary deed first, or will the quitclaim deed be sufficient to maintain chain of title?
answered on Mar 17, 2022
I understand that you believe that this type of transaction should be simple. Unfortunately real estate transfers are never simple.
I strongly urge you to have your estate planning attorney review what you have done, in light of what you want to do with the property. Then, your... View More
If a deceased person had both a Revocable Living Trust as well as Probatable assets, what are the requirements for Federal and Arizona State tax filing?
If the trust & estate are both settled in the same year the person dies, do the trust & estate need to file taxes?
Is... View More
answered on Mar 1, 2022
I am sorry for your loss. These are excellent questions. I will give you the general rules. Then I recommend you see an accountant who knows about filing income tax returns for trusts and for probate estates.
Legally a Probate Estate and a Trust whose Trustmaker is deceased (trust... View More
I need information on my parents who passed away and sister who is controlling the will and it's not allowing me any information on it of their state of their will of their house of any funds or any anything for that matter. What's the best way how to handle this matter?
answered on Nov 29, 2021
The State Bar of Arizona has a service where lawyers volunteer to work pro bono. or with out cost. Contact the State Bar directly. Someone will be able to help you.
FYI. The State Bar of Arizona may still be on lockdown. If you don't hear from them within a reasonable amount of... View More
My father was deceased as this Trust was written, he was the 3rd child of the Grantors', is he meant by the term issue?
Upon the death of both of the Grantors, the Trustee shall pay and distribute the
trust estate at that time remaining to the Grantors' issue, Sandra xyxy... View More
answered on Oct 11, 2021
Thanks so much for the question.
Unfortunately, trusts are complicated documents and the answer can probably be found in the trust. The terms of the Trust will control, not necessarily the laws about issue per stirpes.
Is your father a brother to Sandra and Patricia? Is he... View More
answered on Sep 23, 2021
In Arizona we generally don't initial every page of a Trust. However, different lawyers have different experiences and different styles.
I recommend that you ask your attorney why this is necessary.
I inherited my father’s share of a home that is titled “Tenancy in Common”. The other owner is his 2nd wife of 35 yrs. In his will, she has a life estate of my father’s share. My father passed 10 yrs ago. His will has not been probated; 50% of title is still in his name. The wife is... View More
answered on Sep 17, 2021
I am sorry for the loss of your father and all of these challenges.
Unfortunately I cannot answer your question about value of your interest, without reviewing your father's will, and without additional information. I strongly urge you to find an attorney in the county in which the... View More
My wife grandmother pasted away few days ago and we are looking to move inside her house but don’t want to make a mistake. My wife has a Will from her grandmother which state she is leaving the house to us. We are planning to start the probate process within the next 30 days.
answered on Sep 14, 2021
I am so sorry for your loss.
A Last Will only has authority after the Last Will is admitted into probate and a Personal Representative is appointed. Find an attorney in Mohave County to help you . After the Last Will is admitted and the Personal Representative is appointed, the attorney... View More
I am the personal rep of her estate. Will I need to do Deed of Distribution and quitclaim deeds for the two brothers? Also, one is in jail so what happens to his part of the buyout and how do I get those forms signed?
answered on Sep 13, 2021
I am so sorry for your loss.
Real estate is complicated and having one sibling in jail makes this transaction very complicated. I urge you not to attempt this yourself.
I advise you to work closely with an attorney and a title company.
My question is about his property. He had a truck, motorcycle, personal items and a bank account. My grandma said what's in the account he owes her so she gets that and she said the truck and other items aren't going anywhere until she says so. Is that legal? Is there something I have to... View More
answered on Sep 6, 2021
I am so sorry for your loss.
Unfortunately there may not be a simple answer to your questions. Assuming your father was not married, he had no other children, and he did not have any joint bank accounts with others, then you may be the sole heir.
I strongly urge you to set up a... View More
Funeral home says need both parents permission. Tho he has not had any contact with mother in over 15 years. I had custody when he was a juvenile. He had said he wanted cremation for years. Does the funeral home need my ex wife's permission. She has no issues with the cremation. But the... View More
answered on Jun 28, 2021
I am so sorry for your loss.
The law regarding burial and cremation in AZ is ARS 36-831. Cremation is not a right in Arizona. In order to be cremated one needs a cremation permit. In order to receive this permit the rule is generally that the decedent:
1. Has prepaid the... View More
answered on Jun 9, 2021
There are many ways to own property. Joint tenancy with rights of survivorship is the least efficient from an income tax perspective. You may also need to file a gift tax return if the value you are transferring is more than $15,000. Finally, if the family member ever has financial or legal... View More
answered on May 25, 2021
A holographic will may be valid, but they are very often prepared incorrectly. If the holographic will is prepared incorrectly, it may not be approved by the probate court. When that happens the law of default will apply. The family will have to apply for an intestate probate. Intestate means,... View More
Before my father's passing, he pulled out funds from his 401K. There must have been some discrepancy in the amount paid to him, as Discover Financial Services sent him a cheque for the amount of the difference (about $400) in 2020. The issue is that this cheque was sent out several months... View More
answered on Apr 13, 2021
I am so sorry for your loss.
I have a few questions though. If there is an Executor, a probate would have to be opened. The Letters of Personal Representative would give the company authority to issue the check. Only a court can appoint someone to be the Executor or Personal... View More
The estate has the funds but CITIBANK had forwarded to a debt collector. Ascension point.
answered on Mar 31, 2021
One of the jobs of Personal Representative of the estate is to pay all of the decedent's verified debts. If you look on the form that you signed to open the probate, which is called ORDER TO PERSONAL REPRESENTATIVE AND ACKNOWLEDGEMENT AND INFORMATION TO HEIRS/DEVISEES, item 13 says that your... View More
I have a copy of the will where he states who each property would go to. We also know he had life insurance and his business that was not distributed properly or at all for that matter. The homes he left to family in the will were in Forclosure due to the person not distributing everything the way... View More
answered on Mar 9, 2021
I am so sorry for your loss.
I apologize. I don't know if I understand you completely. If the estate is being held by Treasury, is it because there are back taxes which need to be paid?
To answer your other question. A copy of the Will won't be enough. The will must be... View More
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