| Subject | Date Asked | Expert |
|
| Lose inheritance due to judgement? | 8/29/2008 | Janet Brewer |
Q: I am due to receive an inheritance from an estate of a deceased family member. It was said to me ...
A: In California, the answer would be it could be true, under certain circumstances. For example, if ...
|
| beneficiary determination | 8/28/2008 | Janet Brewer |
Q: I am co-trustee of an estate in Michigan for a deceased Aunt who had no children or husband. She ...
A: If this were California, I would suggest that you take the position that the clause is ambiguous (if ...
|
| Living Trust-California | 8/28/2008 | Janet Brewer |
Q: I am the successor trustee of a living trust. The dispersions of the estate is to take place on the ...
A: Yes, you need a new TIN. The way you handle the income depends upon the terms of the trust. If all ...
|
| Who can be a trustee | 8/27/2008 | Janet Brewer |
Q: Is it possible for the son of a beneficiary to act as trustee if he resides out of state? (Delaware) ...
A: The answer to both questions is generally "yes". The only legal requirement in California for a ...
|
| Trust Funds Distributed to Minors (CA) | 8/27/2008 | Janet Brewer |
Q: Good morning! My children's great-grandmother passed away last year and left money to each of them. ...
A: Your instincts are right. Your children are too young to endorse the checks (they need to be 18), ...
|
| tod transfer | 8/27/2008 | Janet Brewer |
Q: in regards to my previous question yes my sister said she is putting all lawsuits on "hold" to ...
A: What does your sister mean that she's "putting all lawsuits on 'hold'"? It sounds like an idle ...
|
| Trust | 8/26/2008 | Janet Brewer |
Q: My father in law had a trust and when he died his daughter was to handle the estate. We are going ...
A: You don't say what state's law applies to the trust, so I'll use California as a reference. In ...
|
| Execution of a will | 8/24/2008 | Janet Brewer |
Q: Is there a time limit? My father died in Jan. Is it too late to execute his will?
A: To execute a will means to sign it. Only your father can sign his own will. I assume what you ...
|
| property tax | 8/23/2008 | Janet Brewer |
Q: my parents have a house in california, valued at approximately $2.5m. they have set up a trust for ...
A: 58), your parents' house qualifies for a "parent-child" exclusion. Prop. 58 provides that transfers ...
|
| replace persons in my trust | 8/23/2008 | Alexander J. Hay |
Q: I have no children so I am giving my estate to the grown children of a friend in my Living Trust, ...
A: The things you just described are not simple. They are very complicated. Complicated is not ...
|
| Mother's Will | 8/22/2008 | Alexander J. Hay |
Q: My mother has a huge interest in a nice piece of property in Maryland. Her exact share and what she ...
A: Yes. The location of the lawyer's office does not matter. The will is enforceable if it is properly ...
|
| Spousal rights to Estate Assets | 8/21/2008 | Janet Brewer |
Q: In a community property state, when a spouse dies does the surviving spouse automatically have ...
A: I'm sorry about your brother's death. There are several different questions here, so let me be sure ...
|
| trusts & assets | 8/20/2008 | Janet Brewer |
Q: My mom recently passed away before having the chance to complete her will. My siblings and I aren't ...
A: I'm sorry about your mother's death. You will need to become a bit of a detective. Go through her ...
|
| Estate money | 8/20/2008 | Janet Brewer |
Q: My mom past last year. Before she passed, she inherited $365,000. There is a total of 5 siblings. ...
A: I'm sorry about your mother's death. You don't say what state your mother lived in, so I can only ...
|
| Trust distribution to a benificiary | 8/16/2008 | Alexander J. Hay |
Q: My fiance is a beneficiary on a trust left to him by his late mother. He also shares this trust with ...
A: It is almost impossible to answer this question without looking at the trust. Was the trust ...
|
| Trust Property Allocation Upon Death | 8/13/2008 | Janet Brewer |
Q: If a husband and wife who are the trustees of their revocable living trust which holds virtually all ...
A: I don't know that I have enough information to answer this question. Where do the husband and wife ...
|
| Taxes question | 8/12/2008 | Janet Brewer |
Q: My father passed away in March and my mother had previously passed away. She worked as a nurse and ...
A: I'm sorry about your father's death. First, the "big" issue: income taxes. Generally inheritances ...
|
| beneficiary notification | 8/10/2008 | Janet Brewer |
Q: Is there a formal letter that can be down-loaded from the computer to notify beneficiaries, after ...
A: If you are in California, the probate code has a specific code section with the notice you need to ...
|
| Joint checking accounts | 8/9/2008 | Janet Brewer |
Q: I am familiar with a joint checking account with rights of survivorship. Is there a joint account ...
A: I can't say what the law is in other states, but in California the short answer is "no". The law is ...
|
| Life Insurance Paying for Funeral | 8/7/2008 | Janet Brewer |
Q: My sister did not have a beneficary listed on her life insurance policy. When making the funeral ...
A: Wait until the executor has been appointed. It should be on the date of the first hearing, unless ...
|
| taxation of trust asset | 8/6/2008 | Janet Brewer |
Q: I am trustee for dad's trust that was set up when he passed. The income goes to mom via an annual ...
A: I was tempted to reject this as being outside of my expertise, since I don't prepare fiduciary ...
|
| Crummy Trust | 8/5/2008 | Janet Brewer |
Q: Can a mother be named as trustee to her own childs Crummy Trust? I was told that the IRS has a rule ...
A: If the mother is the one who is setting up the trust, it's generally a very bad idea from a tax ...
|
| Probate and Contesting | 8/5/2008 | Janet Brewer |
Q: Dad died in July 2008 in Georgia with a last will that was prepared in 1996. He had remarried in ...
A: I don't know if this amendment would qualify as a "codicil" (legalese for an amendment to a will) or ...
|
| Probate and Contesting | 8/4/2008 | Janet Brewer |
Q: Dad died in July 2008 in Georgia with a last will that was prepared in 1996. He had remarried in ...
A: I don't know the rule in Georgia, but if it were California, the wife would probably get her ...
|
| Will distrbution | 8/3/2008 | Janet Brewer |
Q: My father passed away leaving his only asset (the home) to his 4 children. The asset distribution ...
A: You have no idea what a joy it is to hear about siblings who are cooperating after their parents' ...
|
| Executor fees | 8/3/2008 | Janet Brewer |
Q: I am the executor (for 15 months now)of an estate that belonged to my late aunt.There are 2 other ...
A: It's hard for me to say whether that would be excessive or not. I would think it would not be ...
|
| selling family home | 8/3/2008 | Alexander J. Hay |
Q: Two of three living childten agree to sell home place-both parents deceased-ho will-I am executor ...
A: You are most likely going to need to retain an attorney and proceed to an intestate succession ...
|
| cost of setting up a will with a special needs trust | 8/2/2008 | Janet Brewer |
Q: I was referred to a non-profit organization that supposed to help parents of children with special ...
A: Since I don't practice in New York state, I don't know the "going rate" for special needs trusts ...
|
| Trust Loan to Avoid Annual and Lifetime Gift Tax Limits | 8/2/2008 | Janet Brewer |
Q: I'm trying to confirm and obtain details on this - Can a living trust give me a "cash payout" which ...
A: I'm not sure I totally understand the question. Why is the living trust making the loan? Has the ...
|
| probate | 8/1/2008 | Janet Brewer |
Q: My dad, mom and I are in the title to our house. He passed away in 2003. There were no wills, ...
A: I'm not sure if this is a probate question or a real estate title question. It appears to be a ...
|
| Inheretence wjen on disability insurance | 7/31/2008 | Alexander J. Hay |
Q: My Grandfather recently passed away and my Mother and her step sister were named as the sole ...
A: I think your mother should go talk to the attorney. I don't think it is an issue of her being ...
|
| Life Insurance Paying for Funeral | 7/31/2008 | Janet Brewer |
Q: My sister did not have a beneficary listed on her life insurance policy. When making the funeral ...
A: Assuming that there is a probate, you are considered a "priority" creditor. In fact, you are the ...
|
| re: trust | 7/30/2008 | Alexander J. Hay |
Q: My grandfather resided in PA. The trustee also resides their. He passed several years ago. However ...
A: You are probably going to need to retain an attorney with experience in these matters. This is ...
|
| inheritance dispute | 7/30/2008 | Janet Brewer |
Q: My dad left my older brother in control of 25,000 that was left to me when he died in 2002. He gave ...
A: Without reading the trust I can't give you much useful advice. Also, if the trust is based in ...
|
| Money received after the estate has settled | 7/29/2008 | Janet Brewer |
Q: If a father passed away and the son was the executor. There was an outstanding lawsuit filed ...
A: In California, the estate would need to be reopened if there has been an "Order of Final Discharge ...
|
| changeing a revocable trust | 7/28/2008 | Janet Brewer |
Q: can i change the name on a revocable trust???
A: If you created the trust and it is revocable, then yes, you should be able to change the name. But ...
|
| Grandmother's will vs. Mother's will | 7/27/2008 | Janet Brewer |
Q: My grandmother passed away a few years ago and left a special needs trust to my mother; my aunt was ...
A: Without reading your grandmother's trust, I cannot really answer this question. If your grandmother ...
|
| Trust dissolution | 7/27/2008 | Janet Brewer |
Q: My parents established an A/B family trust in Santa Clara County. My mother passed in 2000 and my ...
A: Check California Probate Code sections 16061 and 16061.5(a). You need to speak with a probate ...
|
| Trust dissolution | 7/26/2008 | Janet Brewer |
Q: My parents established an A/B family trust in Santa Clara County. My mother passed in 2000 and my ...
A: Generally, a trust isn't required to be filed anywhere. California law does require the trustee to ...
|
| A Will, or a Will and a Trust? | 7/26/2008 | Janet Brewer |
Q: I am a divorced man, living in Tennessee. I'd like to leave my assets (including my IRA's) to my ...
A: The only way I know of to leave your IRA to your children under your will (as opposed to under a ...
|
