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Questions Answered by R.J. Connelly III
1 Answer | Asked in Elder Law for Rhode Island on
Q: Can a joint owner of a bank account be the financial Power of Attorney of the other joint owner?

I'm a joint owner listed on my dad's bank account. He is elderly and needs a financial power of attorney. Can I be his financial power of attorney while listed as a joint owner on the bank account?

R.J. Connelly III
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R.J. Connelly III
answered on Mar 26, 2022

Yes as to his interest in the account but should not have to as both co-owners should have equal access to 100% of the value

1 Answer | Asked in Elder Law for Rhode Island on
Q: Are there any situations when a home in an irrevocable trust doesn't get a step up in basis when the grantor dies?

CPA is telling me I have to pay capital gains on the sale of my deceased mother's home because the irrevocable trust was set up as a Medicaid protection,

R.J. Connelly III
PREMIUM
R.J. Connelly III
answered on Mar 5, 2022

yes there are many situations where a home held as corpus of an irrevocable trust will not receive a stepped up basis.

1 Answer | Asked in Estate Planning and Probate for Rhode Island on
Q: Thank you so much for your time! Is an attorney required or can she file on her own?

My friend basically has nothing! She needs these funds to payoff the loan she borrowed for the services she had for her brother and then her sister 4 days later. If there is a chance I can help w/o an attorney (no disrespect), please advise. Again, thank you for time and consideration.

R.J. Connelly III
PREMIUM
R.J. Connelly III
answered on Oct 14, 2017

technically an attorney is rarely required, but (a loaded question) is always a good idea. essential if it is a contested matter.

1 Answer | Asked in Estate Planning and Probate for Rhode Island on
Q: My friend's brother was due proceeds from an accident. Does she have to become admin? Proceeds 10k

No Will in place. Does this fall under Intestate Succession Law?

R.J. Connelly III
PREMIUM
R.J. Connelly III
answered on Oct 14, 2017

Short answer-yes for all probate assets ( without joint owners or beneficiary designations)

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