THE TRUSTEE was asked if the grantor would lose control of the estate before all papers were signed and the TRUSTEE said they would not lose control of the estate and now the TRUSTEE is saying that they are selling the house. There are to grantor ...
Steve is correct. If the grantors are still competent, they can remove and replace the trustee at any time. This is what keeps the grantors in control. They should contact a lawyer immediately if they wish to do this.See question
someone in the family is required to change the name on green card due to lawful reason.
I have changed the area of practice to immigration answer your question will be seen by the proper attorneys.See question
My father passed and left me a small sum of money. My aunt was holding it for me. She recently passed away and had a will naming an executor. She informed the executor before she passed, that it was my money and should be given to me if anythi...
As a general rule, if your aunt was "holding" money for you under her name, then under the eyes of the law it was her money. It would therefore be part of her estate. Hopefully, you are a beneficiary named in her will, and will inherit this money through your aunt's estate. There is no such thing as a "reading" of the will; that is a Hollywood fiction. You simply need to ask the executor for a copy of it.See question
My father accidentaly overdosed on his prescribed morphine and several other medications. Once in the hospital they discovered he also had Xanax in his system that he is not prescribed, his wife is. My brother and I feel that she cannot make good ...
A Judge cannot grant power of attorney over someone. A Judge can declare someone incompetent and appoint a guardian and a conservator over that person and his assets. You will need an elder law attorney to pursue this type of petition. And be prepared for the fact that it may get quite expensive if his wife challenges the petition.See question
Uncle passed Friday 90 years old, I was told I was the executor by the Uncle and Aunt(Aunt passed 6 months ago). The caregiver(not related) told us, Our Uncle changed the will before he died and she is the executor. He died Friday night and on Mon...
You need a probate litigation attorney immediately to challenge the new will based on undue influence and whatever other grounds that the attorney can come up with. You can find a lawyer here on Avenue, or at the website of the Virginia Academy of elder law attorneys at www.vaela.org.See question
My father passed away in june 2010 without a will. His wish was for me to have his truck in which his wife signed over the title to me in November 2010. She then went and filed for a new title and gave the truck to somebody else. The person whom h...
You need to hire a local attorney who handles general consumer litigation. If the title was legally signed over to you, then the vehicle is yours. Unfortunately, if someone else possesses it and also has a title, you are going to need to go to court to sort this out. I am changing the practice area of this question to litigation so it will be seen by the proper attorneys.See question
can they set up a living trust at their bank and if so do they have to pay taxes on interest earned
Banks are not law firms and cannot draft a living trust for your parents. Your parents need an experienced Elder Law Attorney to draft an appropriate living trust based on their age and circumstances (this might be a revocable living trust or it might be an irrevocable Medicaid Asset Protection Trust). On the other hand, a trust might not be appropriate at all depending on their circumstances. And income tax should be the least of their worries -- the main concern for most people of their age is protecting their assets in connection with Medicaid, so that they won't have to go broke if one or both of them wind up in a nursing home.
Have them go to an experienced Elder Law Atoorney ASAP. You can find one here or VAELA.org. Some of us offer free initial consultations.See question
No will. More debt than assets. Private lender expects children to pay monthly mortgage
Unless the children signed the promissory note securing the mortgage (unlikely), then the children are not liable for paying the note/mortgage. Assuming that none of the children are living in the house, then your best bet is probably to ignore the lender and let the lender foreclose against the mortgage, assuming that the house has no equity in it. If the house does have equity in it, then it may be wise for the four children to get together and pay the mortgage until the house can be sold by the four children, who are now the owners (although a simple filing in court would need to be made in order to document that the four children are now owners). There are many other options and possibilities as well. The bottom line here is that you have not provided enough facts (and really cannot provide enough facts in this forum), and you will need to meet with a probate attorney in order to provide all of the facts and for the attorney to analyze the entire situation and give you the best advice under the circumstances.
One important thing -- before getting legal advice, none of the children should go to probate court to become the administrator of the estate, given the fact that you have stated that there is more debt than assets. Probating an insolvent estate is a waste of time, and a potential liability for anyone who would qualify as administrator of the estate.See question
Would it be possible to set up a living trust in such a way that both of us would have to agree before assets are withdrawn from the trust?
The legal answer is yes, but the practical answer is not always yes. Even if you create a trust and name yourself as co-trustees, and require that both of you must act, there are numerous banks that will not enforce the requirement that both of you act. in fact, some banks will not allow a trust account to be set up that requires of trustees to act together.See question
My son wants to buy the house but we are worried a direct sale to him will risk her getting Medicaid later if needed. She has dementia and is living with us for past 5years
You need to meet with and work with an experienced elder law attorney to discuss and consider all of your options. Getting Medicaid for your mother is of primary concern, but so is preserving your benefits, which might be endangered depending upon what type of disability benefits you are on, if any.See question