Robert Scott Williams's Answers

Declared Sole Benificiary to a Goverment Grant.

Sounds like a scam. If you deposit the check, they will then have your bank information. The check will bounce, and the will, or at least they will try, to steal your money. Disability funds are not usually taxable. So why all the discussion about paying state and federal taxes on the money. You know such taxes are not typically paid up front. Please throw this stuff away. If you filed for a grant program, please contact these folks to see if the correspondence is from them before you do...

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What are the minimal amount of stock/shares that you can put on your corporation registration forms when you are just starting.

The corporation may issue any amount of shares it chooses. You can simply use 100 shares. If you anticipate more shareholders you may want to go with 1,000, 10,000, etc. Hope this helps.

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Can the IRS claim money that I receive for a personal injury settlement if I owe back taxes

The short answer is yes. The IRS is a super creditor, and can reach pretty much any asset including your home and retirement accounts. You should make sure that the financial statement that you file with your offer in compromise clearly discloses the personal injury claim. Should the IRS accept your offer in compromise before you receive your settlement funds, they will not come back after the settlement proceeds. They will look to you to fulfill the terms of your offer in compromise. It is...

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Income taxes on a wrongful death settlement

The taxation of settlements is governed by the origin of the claim. If claim by its usual nature is taxable income, then the settlement (or the portion that relates to the taxable income) is itself taxable. A settlement can allocate the proceeds to a specific claim or claims. I am sure that if you can settle on a non-taxable claim, you may settle for a lesser amount that if it was taxable. This needs to be specified in the settlement agreement. If the settlement agreement does not allocate the...

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Trust Accounting

Please take a look at Florida Statutes Section 736.0813. You should be able to receive a copy of the information you are requesting.

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Business Tax

Starting a new business has its costs. For example, you spent money setting up the corporation and preparing your product line. These expenditures most likely will result in a tax loss for your first year of operation even though you have not begun selling your product. This loss can offset future profits. You should definitely file the tax return.

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Copy of Trust Document

You should be able to get a copy from the trustee as a beneficiary. Plus, you are entitled to accountings from the trustee as a beneficiary. Are there any other beneficiaries of the trust? You may need to engage a trust attorney who can help you with this matter.

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Irrevocable Trust compensation for services in FL.

It is true that you can be paid resonable compensation for your time and effort as the trustee. What is reasonable depends on the circumstances. You should address your specific question to the lawyer who prepared the trust agreement as he or she will know the "circumstances."

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Do I need a lawyer to file legal guardianship papers for a minor ?

The short answer is yes. You need to locate a lawyer who has experience in guardianship matters near where you live.

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First contact with a potential new attorney

Getting a referral to a qualified lawyer is usually the best way to reach the right professional. Check with others who you trust, and see if they can help you find a reputable senior lawyer to help you with your trust amendment. Maybe try a smaller law firm that is less likely to have junior associates. Many of us in smaller firms have large firm experience.

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