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Steven M Zelinger
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Steven Zelinger’s Answers

5,476 total


  • How to I file a will?

    About 3 weeks ago my mom died and have learned a lot of things recently about what happens after someone dies, such as probate. My mom has a house in Wichita that she also has a loan which she is about even. My mom always wanted my sister and I to...

    Steven’s Answer

    You should still at least have a consult with an attorney. If there truly are no other assets and you won't realize any proceeds from the house sale after the mortgage is paid off, you may be wise not to do anything. On the other hand, if the house is worth a bit more than you think you may end up with at least something. I would speak to an attorney and also consider speaking to some realtors about a market analysis to see what the house might be worth - once you start as executor its difficult or impossible to go back so you have to choose wisely.

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  • Is it legal to privately raise money for a specific cause and then use the funds for something else?

    In the days after my husband was mortally injured, his family (my estranged in-laws) set up a private bank account and solicited money specifically for his extensive medical expenses. After he died, they never contributed toward his medical expen...

    Steven’s Answer

    Well, it is certainly dishonest. If I were handling his estate I would make a claim that those are assets of his estate and sue them.

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  • Does this order of beneficiaries make sense in a will? Spouse > ILIT (benefiting children) > children

    My husband and I have very young children and are preparing our first wills. We are planning on leaving all of our assets to each other, and if the other doesn't survive us, then to our ILITs (which benefit our children). Is it advisable to name...

    Steven’s Answer

    You should sit down with an attorney - I suppose you could do what you are saying but it does not make much sense. Most married couples with young children typically have wills/trust benefiting the surviving spouse, and if not living, their children. If someone has an ILIT the respective ILIT would basically do the same thing - benefit the surviving spouse and if not living the children with both the primary trust and ILIT trust shares providing similar provisions for the children.

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  • Without capital gains tax being involved can I sale my home to my son for what I own on it? Who do we hire to write it up?

    The house is worth $125,000. I owe the bank $23,000 and a personal loan from family for $20,000. So he will pay $43,000. I will continue to live there till I need medical help. I'm in good health so that will be a long time from now.

    Steven’s Answer

    I think you need to discuss your goals with an estate planning attorney. Why would you do this and what are you trying to accomplish? I can think of several reasons not to do this as well...there just isn't enough info here to give you a good answer.

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  • Having written proof, can I sue a non profit organization for their staff member defaming my name and reputation needlessly?

    Myself as a paying member of a non profit organization, attending a night meeting there was light verbal friction between me and a staff member. The head of the organization was made fully aware of the situation via email which was 8 months ago. H...

    Steven’s Answer

    What is defamatory about what happened here? Did she say something that is not true and spread that untruth to others? Sounds like there are many more facts that you could review with an attorney to determine if you have a cause of action.

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  • Explanation of IRS Transcripts Transaction Codes

    I recently did my id verification by phone and when I was finally able to access my transcripts the following Transaction Codes showed up in the following order: TC 150 TC 766 TC 768 TC 570 TC 810 TC 971 TC 420 TC 971 Thank you in a...

    Steven’s Answer

    Hard to give you an answer with out context but the attached document may be helpful.

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  • Purchased rental properties in Frostburg, Md 25 yrs. ago. They now sell for 50% of what I paid. How does recapture tax work

    Ho does recapture tax work when value of property foes down.

    Steven’s Answer

    Speak to your CPA (or get one). It is a capital loss based on the income tax basis of the property.

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  • How do I get deceased husbands name off of car title from PA now that I live in SC? Car is paid off, have SC license & paid tax?

    Have been to DMV many times with original death cert., power of attorney, went to probate office here in SC, told they could do nothing since he's not a resident nor home owner in SC. Called courthouse in PA, told they could do nothing. There is n...

    Steven’s Answer

    Car titles in PA are handled by the department of motor vehicles. They have forms for this on their website - if it is a joint ownership you should only have to provide the form and death cert to have title issued in just your name.

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  • Can a bank foreclose on a house if the house is part of an estate that is being held up in probate

    i am trying to settle my mothers estate in new york and the house is the main asset. the bank is trying to foreclose on the house while the estate is still in probate. can the house be foreclosed on while the estate is still in probate? the house ...

    Steven’s Answer

    Yes they still can. Do you have a lawyer? Is there a way to catch up on the arrearages? Is the house on the market?

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  • I purchased towhhouse for daughter when her husband left. How do i make sure she gets it upon my death

    Accountant advised me to rent it to her which I did. I have to subsidize and will have to pay the recapture tax. Is there a better way

    Steven’s Answer

    If you own it, the simplest thing to do is provide the home to her in your will or trust. There are other factors to consider of course but that is the short answer. You should sit down with an estate planning attorney to discuss your visitation and get a good idea of your options. Depending on the size of your estate you could also have MD estate tax concerns or concerns about things such as long-term care expenses.

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