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Jeffrey L Crown
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Jeffrey Crown’s Answers

150 total


  • Will and Trust

    When a trust fund becomes escheated, what happens to the bank account? Does it remain open?

    Jeffrey’s Answer

    Atty. Seltzer is correct. In CT, there is a published list of unclaimed assets. These assets are essentially in a "pre-escheat" account. The owner can make a claim for them. If they are unclaimed within a specified period of time, they then escheat to the state.

    To see whether you have any assets on the unclaimed list, go to: http://www.state.ct.us/ott/aboutucp.htm

    Good Luck

    Jeffrey L. Crown
    Trustlawyer, LLC
    Rocky Hill, CT

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    See question 
  • A question about a will

    What does it mean when a will gives the trustees discretionary power to "Register and hold stock and other securities or property, real or personal, in the name of a nominee or nominees"?? What is a nominee any way?

    Jeffrey’s Answer

    I hope that this helps regarding "nominee registration." Suppose a bank or a brokerage owns securities as trustee of many trusts. If the securities were registered in the names of the separate trusts, it could be hard to transfer them because transfer agents might want evidence of the trustee's authority.

    To eliminate this problem, a corporate trustee may create a "nominee" to hold those securities. For example, First Big Bank creates a nominee called Trustco. Trustco could hold securities of many trusts and could buy and sell them without having to show that it had the authority under each of the relevant trust documents to do so.

    Nominee registrations are often used by corporate trustees. I haven't seen them used by individual trustees, although they could be if the individual trustee were administering a number of trusts.

    The power to hold assets in nominee name is fairly common in trust documents.

    I hope that this makes sense.

    Jeffrey L. Crown
    Trustlawyer, LLC
    Rocky Hill, CT

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    See question 
  • Statute of Limitations.

    What is the statute of limitations for trustee/attorney to claim part of a will intestate?

    Jeffrey’s Answer

    I don't know whether I understand your question. If there was a will, then the estate is not "intestate." I hope that this somewhat general information is helpful.

    When someone petitions the probate court to open an estate, the court sends notice to all of the"heirs." Those are the people who would receive the assets if there were no will.

    The court then schedules a hearing on opening the estate and, if no one objects, issues a decree appointing the executor or administrator.

    People who have a legal right to challenge this decree may appeal to the superior court. They have thirty days to file an appeal or twelve months if they did not receive notice.

    Otherwise, except for fraud, the decree is final.

    I hope that this helps.

    Jeffrey L. Crown

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    See question 
  • Trustee

    Can a person be trustee and beneficiary of a inter vivos trust in Connecticut? When my grandmother died my uncle is saying he is both the beneficiary and trustee of his inter vivos trust which was set up for him. Doesnt that fall under Merger doc...

    Jeffrey’s Answer

    You appear to have done some research on trust law. The merger doctrine applies if ALL of the interests in a trust, both present and future, legal and equitable, are held by the same person. As long as there is at least one remainderman or a class of remaindermen who take after the trustee/beneficiary's lifetime, the merger doctrine does not apply.

    Under Sec. 45a-175 of the Statutes, a beneficiary of an inter-vivos trust can petition the probate court to order the trustee to file an accounting. As to removal of trustees, this is quite difficult in most circumstances. See CGS Sec. 45a-242 and Ramsdell v. Union and New Haven Trust Co.

    I hope that this help.

    Jeffrey L. Crown
    Trustlawyer, LLC
    21 New Britain Ave.
    Rocky Hill, CT 06067
    860-257-4330

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    Jeffrey L. Crown
    Trustlawyer, LLC
    21 New Britain Ave.
    Rocky Hill, CT 06067
    860-257-4330

    See question 
  • Will/Trust

    Can someone please explain this clause to me? "No interest of any beneficiary under this my will whether in income or principal shall be subject to pledge, mortgage, assignment or transfer in any manner, or be liable for the obligations of and...

    Jeffrey’s Answer

    Atty. Bowen is correct. This type of provision is commonly referred to as a "spendthrift clause." In Connecticut, this clause does not necessarily insulate the trust assets from claims of creditors.

    Section 52-321 of the CT General Statutes provides three ways to create a spendthrift trust. They are: where the trustee can withhold income from a beneficiary, can accumulate the income of the trust or where the trust is "expressly given for the support of the beneficiary or his family. The statute is exclusive. These are the ONLY ways to create a spendthrift trust in CT under current law.

    I hope that this is helpful.

    Jeffrey L. Crown
    Trustlawyer, LLC
    21 New Britain Ave.
    Rocky Hill, CT 06067
    860-257-4330
    www.trustlawyer.com

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    See question 
  • Does power of attorney override last will and testament

    Mother became ill, daughter got power of attorney, changed deed of house into her name. Last will states house to be divided between two children. She is currently attempting to sell house but i want my share as stated in the last will and testament.

    Jeffrey’s Answer

    There are two aspects to your question. I am not a GA lawyer, I'm a CT lawyer. However, I'll try to answer your question on general principles of law. You really need to speak with a GA lawyer who deals with estates and trusts.

    First, In most states, unless a power of attorney specifically authorizes the agent to make transfers to herself, those transfers are improper and can be set aside by a court.

    Second. When your mother passed away, the power of attorney became void. Her will disposes of all of her assets. Her executor, named in her will, would have the authority to pursue the claim against your sister and restore the house to the estate. If your sister is the executor, your lawyer might ask the probate court to appoint a temporary adminstrator to pursue this claim.

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  • How do I not pay taxes on money I received from a trust

    I am one of the beneficiaries of a trust. The trust gave me 12000.00 dollars this year and it looks like I have to claim is on my taxes. How do I get around paying the taxes. Can the trust gift me an annual amount? The trust is a family holdin...

    Jeffrey’s Answer

    Generally, distributions from a trust "carry out" ordinary income of the trust (dividends, interest and rents) to the beneficiaries, to the extent that the trust had income. That income is generally allocated against all of the distributions pro rata. "Income" for this purpose does not normally include capital gains, which are taxed to the trust.

    The amount and character of the income that may be included in your distribution may depend on several factors. As the other lawyer said, you should speak with a lawyer or CPA who understands the special rules that apply to income taxation of trusts, estates and beneficiaries. This is called "Subchapter 'J'" of the Internal Revenue Code.

    Jeffrey L. Crown
    Trustlawyer, LLC
    21 New Britain Avenue
    Rocky Hill, CT 860-257-4330
    www.trustlawyer.com

    See question 
  • How to get a copy of a trust that is stated in a will?

    My ex father-in-law passed away in June. His wife is deceased. My husband is named as beneficiary and our grown children and I are estranged from him. My children are not named as beneficiaries but as descendants in the will. My father-in-law ...

    Jeffrey’s Answer

    I'm a Connecticut lawyer, not a New Jersey lawyer, but I think that in most states, once a will is admitted to probate, anyone can go to the probate court to read it and request a copy. You should contact the clerk or your county probate court.

    I hope that this is helpful.

    Jeffrey L. Crown

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  • Investment made by trustee.

    Hello, My question has to do with an "investment" made by the trustee of my Dads revocable trust. I am one of 2 beneficiaries, and I have questioned the attorney several times about this "investment". He has yet to divuldge any details about it, ...

    Jeffrey’s Answer

    You need to contact a Colorado lawyer who is well versed in estate and trust law. The best place to start is to log onto the website of the American College of Estate and Trust Counsel {www.ACTEC.org). ACTEC is the premier professional association for estate and trust lawyers. Membership is by invitation only and the requirements are rigorous. You can find an ACTEC Fellow on the web site.

    I'm not a Colorado lawyer. I'm a Connecticut lawyer and can only give you some generalities. We have a statute [you might too] allowing beneficiaries to petition probate courts to compel a trustee to file an accounting. Even without a statute, general principles of trust law provide that a trustee must keep the beneficiaries reasonably apprised of the investments, payments and distributions of a trust.

    You should get on this as soon as you can.

    I wish you well.

    Jeffrey L. Crown

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    See question 
  • Greetings, my mom passed away some time back and i the only assets i have found are several safe deposit boxes.

    She had no bank accounts or other that i can find. i have the keys to these boxes but the bank wont give me access to them to look for wills and such, any help would be appreciated.

    Jeffrey’s Answer

    I'm a Connecticut lawyer, not a Virginia lawyer, but here's a possible starting point. Try going to your county probate court and asking if there's a way you can have access to the safe deposit box to search for a will. In CT we have a statute that authorizes this procedure. You may have one too. If you find a will, then the executor can offer it for probate and begin to search for assets.

    If this doesn't work, you might ask to be appointed as temporary administrator by the probate court for the purpose of locating a will and searching for assets.

    I hope that this helps.

    Jeffrey L. Crown

    LEGAL DISCLAIMER

    Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com.

    This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received.

    By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.

    Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

    See question