If the trust names you as a co-trustee and beneficiary, then the other trustees cannot exclude you. Trustees are obligated by law to follow the terms of the trust. If trustees ignore the trust and do whatever they so desire, they can be sued for breach of their duties. Tell your siblings that they...Read more »
My brother is a friend of the CFP but has no legal authority for my estate - living trust. The CFP is in Georgia. I think he breached client confindentiality at the very least and likely violated a code of ethics. What recourse do I have? Is there a Board where I can lodge a complaint? Thank... Read more »
The person in charge of a Trust is call the Trustee (or Successor Trustee). Yes, the Trustee has authority to file a lawsuit for damages on behalf of the beneficiaries of the Trust. Whether that lawsuit is successful will depend on many factors, of course. When anyone is filing a lawsuit I...Read more »
He has been living off her pension for 12 years and took over her finances. We had a will done in 2006 which was 50/50 between my brother and I and in 2020 my brother had my mom do a new will giving him 60 and me 40 making him the executor and hid it from me for two years. He is selling and... Read more »
Since your mom owned a home, I am going to assume the total value of all of your mother’s assets exceeds the probate limit. That means your brother or you MUST file a Petition in Probate Court in order to transfer title to the property from your mom to both of you, unless title to the home was in...Read more »
Is there a law in Oklahoma that you must leave any portion of your estate to family members that are not in the state? Can you leave your entire estate to your church? If you must leave something for married children that live in another state, is there a minimum amount that you must leave?
In the state of Oklahoma, your spouse is the only person who can make a claim if you don't leave them an inheritance. However, it is necessary that you specifically reference and/or disinherit your children if you don't want to leave them anything. It's best to work with an estate...Read more »
From your questions, I'm assuming the property was properly funded into a valid trust prior to passing away. If so, I highly recommend reading the relevant trust document provisions to see if there is any particular directive regarding the disposition of this asset. Frankly, it's...Read more »
Once someone dies, the trust becomes unchangeable (irrevocable) simply because the “owner” of the trust is no longer around to change it as the person sees fit. If the trust in your case has an attachment (usually called Schedule “A”) that lists all the person’s assets and that attachment...Read more »
Your revocable trust does not need to be recorded or registered anywhere. There used to be a statute, that has since been revoked, that required irrevocable trusts to be recorded. This is no longer a requirement.
Upon a Trustors death, during administration, there may be a need to file the...Read more »
I am very sorry for your loss of your dad, please accept my condolences for you and your family. You will want and probably need to contact a Florida Probate Attorney, based on the type of assets and their overall value that have to be probated will determine the type of probate, if any, that will...Read more »
Tax laws and ERISA Qualification laws come to mind. Banking Statutes also cover Trust Regulation. Securities Law may often be indirectly determinative. There are probably many others. Obviously Anti-Trust Statutes. State Laws control most disputes, but Trusts often involve several possible...Read more »
My fiancée of whom we shared a child together passed away unexpectedly from a stroke. And of course it’s a case of I ntestate succession. Vital statistics customer service told me that since our daughter is a minor and I am not next of kin I can’t obtain a death certificate. Is this true??... Read more »
Interesting issue. His daughter plainly has standing, and you are surely eligible to be her next friend. But, let's start simpler by approaching this through the need you have. If he has an estate, are his parents filing it? You don't need the death certificate if they get it unless...Read more »
Oh my, yes, there are a TON of federal statutes that impact trust planning, too many to list. You will find a great deal in the Internal Revenue Code and also Title 42. That is not necessarily a complete list, but it is where a great many exist, and it is a good start.
The settlement came in my name but went through bankruptcy court to pay both our debts. The rest comes to me. But has both our names on it. Husband had no assets of value. Never opened probate estate I just pay his bills as they came in. Now what do I do
It sounds like the check came from the bankruptcy trustee. Contact the trustee and ask to re-issue the check in your name only. Be prepared to submit the certificate of death for the Trustee's due diligence.
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