The answer to your question depends on the language in your specific deeds. If the grantor is still alive and has a revocable trust, it’s possible the property could be in either trust. Some people have more than one trust (for example, a separate property trust and a community property trust)...Read more »
It depends on whether your brother had a trust or will. Since the divorce was not final, she will definitely be entitled to something. But, whether she gets everything will depend on the language in the trust or will, if there was one in place. Otherwise, if your brother had assets totalling more...Read more »
My mother and father set up a trust my mother passed away of cancer in May of 2020 starting it was irrevocable but as of today my brother and I have not received a copy of the trust since then my father has remarried in June of 2021 and have no idea of how to go about getting a copy from him... Read more »
I'm sorry to hear about your mom. You shouldn't feel bad about asking your dad for a copy of the Trust document since you are clearly entitled to a copy. Under California law (Probate Code section 16061.7) every Trust beneficiary, and every heir-at-law of the decedent, is entitled to...Read more »
If you want to terminate (revoke) the trust, just sign a simple letter to the trustee which says you hereby revoke the trust and to return all trust property to your management and control. If you want to keep the trust and simply change the trustee of the trust (from your buddy to you), again, a...Read more »
The easiest way for you to accomplish your goal would be to just accept distributions and then gift like amounts to your sibling. Be sure to talk with your tax advisor first about the gift tax consequences and talk to your attorney about the Medicaid penalty consequences.
Yes, that is entirely possible, but there are pros and cons to that structure. Whether that is a suitable structure for your purposes is something you should discuss with an experienced estate planning attorney.
My 80+ year old parents own 2 homes. They live in one of the homes, I live in their second home, and have lived here for 28 years. I have always paid them "rent." The home I live in is paid off. My parents' will states that all of their assets are to be split between my sister and I... Read more »
Your parents need to work with their estate planning attorney. Giving you the home now, while they are alive, is not the best way to go from a tax perspective. If you wait to get the home after your parents pass away, your parents will save a lot of money in taxes -- that is, unless the law changes...Read more »
As long as your father is not incapacitated, an attorney can assist him in preparing a Will or Revocable Living Trust to allow him to designated how his property would be distributed if he were to pass away. Advance Health Care Directive and Durable Power of Attorney documents are also important...Read more »
A lot of estate planning documents online are faulty, so it is always best to have a lawyer prepare your documents. I know that sounds self-serving but, just yesterday, I met with a person who drafted her own trust and amended it several times on her own. She ended up creating four different trusts...Read more »
The executor is using funds from the trust to improve the house that is part of the trust so she can sell the house to her sister. Since I have 30% stake on this, what it my legal standing on this? Can I ask the executor to cease and stop what she is doing and just divide up the trust immediately... Read more »
It depends on what the trust says. The trustee must follow the terms of the trust, but some trusts give the trustee discretion to act in certain ways. Give a copy of the trust to a lawyer in your area and he/she/they can advise you on your rights.
My parents passed away just over a year ago in August 2020. My sister is the trustee and I am just a beneficiary. She hired an attorney and we are near the last stage of closing the trust. The law firm is in the process of putting together the accounting and keep telling my sister that... Read more »
Your sister needs to tell the law firm exactly what you said here, i.e., that they are the cause of the delay and she needs the document by the end of the day tomorrow. Other than that, your sister can just show up at the law firm and take a chance that they're open (due to COVID many people...Read more »
It's just me and my brother and at one point I was excluded from the will. After my father passed I moved in with my mother and took care of her for well over a year. She couldn't walk or anything and I barely left her side. She suddenly passed recently from an aneurysm and when we went... Read more »
It's possible, but here is no way to answer your question based on the facts you gave us. There will be a presumption that you are not inheriting anything because that is what the will says. However, you can get around that presumption if you can PROVE in court that your mother intended for...Read more »
I'm not sure what type of legal document you have, so it is hard to answer your question. I'll guess that you are asking what happens when a beneficiary of a trust passes away before the settlor (the person who sets up the trust.) In that case -- as with most situations -- the trust...Read more »
Attorneys for the executor are not fiduciaries. Attorneys for the executor get paid from the estate but only after court approval of their fees. Any beneficiary of the estate can file their objections to the reasonableness of the fee request. Statutory fees are reasonable by law.
The lawyer wants to go over materials things, as well as discuss any contents my mother had with my stepdad while he was alive (verbal discussions); will that hurt her (in terms of what she will be getting)? She hasn't seen any copies of the will/trust and I am afraid what she says might do... Read more »
There are a number of tasks that must be done after someone passes away, including a formal written notice that must be sent to beneficiaries with specific legal language. Most people do not know what to write or to whom the notice must go. Lawyers can tell your mother all of the tasks she must do,...Read more »
If your sister did not leave you anything in her will, then no. If your sister did not have a will then her estate passes according to the laws of intestate succession pursuant to which very likely everything will pass to her husband but if she had any separate property then her children will...Read more »
Step son have power of attorney over medical but brother can sign for his own finances as far as he knows. I’m in California and he is Alaska living with them. He is not happy because they are controlling him.
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