Gregory Herman-Giddens's Answers

My taxes were filed with wrong deductions. What do I do?

If you fail to amend a return when you know it contains a mistake you may have to pay penalties if the return is audited. I recommend that you file an amended return as soon as possible. If you do not want to do it yourself you should choose a competent accountant or tax lawyer - don't use the tax prep office on the corner.

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Have an estate already probated in PA with real estate in Florida. What are the Florida ancillary Administration steps required

I am licensed and practice in Florida. You are required to have a Florida attorney assist with all Florida estate matters. The ancillary administration procedures vary depending on the value of the property and how long it has been since the decedent's death. The fees would probably range from about $2,000 inclusive of costs to about $3.500. Please let me know if I can be of assistance. ghgiddens@trustcounselpa.com

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Why will my bank not let me close the CD account that is part of an Irrevocable Trust, of which I'm the trustee?

It's possible that the account was not properly titled in the name of the trust or given a separate trust EIN. As Mr. Fromm stated, you may need to hire an attorney to sort it out. BOA and other big banks, especially, can be very hard to deal with.

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I am 94 and in a NC nursing home on medicaid. my income is $30 per month. have home with no money to keep it up. Help

No, putting the home in a trust would be considered a transfer and would disqualify you from Medicaid. If you have children and are willing to transfer the home to them, I recommend that you consult with an elder law attorney about possibly transferring a small percentage interest in the house to them as joint tenants with right of survivorship. If this is possible then they could rent it out to get money to pay the expenses.

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Can a promissory note and deed of trust be signed overseas, and recorded afterwards?. The real estate is in Wake County, NC

There is no required time period to record the deed of trust, but until it is recorded there is no evidence of record of the lien, and the property could be sold in the meatime.

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My estate lawyer has missed the deadline for my widow allowance is there anything I can do in the state of NC?

There's nothing you can do as far as the court is concerned, but you can consider filing suit against the attorney for malpractice and filing a grievance against the attorney with the North Carolina State Bar.

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Beneficiary income distribution

I don't really understand your question. As a beneficiary, you should have been issued a Schedule K-1 that detailed the items of income for you to report on your personal return. That is normally a percentage share of the distributable net income of trust.

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Can my siblings block me from becoming executor of my father's estate?

The best defense in this case is a good offense. Hire an experienced probate attorney to assist you with the estate - one who can also defend any proceeding to remove you.

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Is it legal to gift a family member from my dad's checking account without a "look back" by Medicare?

I agree that you should consult with a North Carolina attorney to advise you on the numerous legal issues regarding your father's health and finances.

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What would I pay in Estate Tax?

Your wife has a $3.5 million exemption from the federal estate tax (Florida has no estate tax). Thus, if her estate is worth $500,000, there would be no tax.

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