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Michael Leo Potter
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Michael Potter’s Answers

4,424 total


  • My sister is head of my parents trust/will and both parents have past away.

    My sister is head of my parents trust/will and both parents have past away. My father on July 15, 2015. There is no property involved in the trust/will. Only monies that are to be divided equally between us two. How long do we have to wait to hea...

    Michael’s Answer

    Often the settlement of an Estate takes longer than expected. Have your attorney get involved in order to expedite the matter. Good Luck.

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  • If there are 3 siblings and only one files for successor do we split everything or does only successor get everything

    brother died sister applied for successor, now its been passed four months and sister said she doesn't have to give us anything

    Michael’s Answer

    Have your attorney file a Motion to Compel a Complete Fiduciary Accounting and a Motion to Replace the Trustee for Breach of Fiduciary Duty. Good Luck.

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  • Can a trustee use trust funds to pay off a car he got in the will and what would happen to the profits?

    My trustee got my dads car from the will and wants to use trust funds to pay it off. He says he will pay the trust back but I feel the debt should also be his and would think that is self dealing

    Michael’s Answer

    The trustee's fiduciary duty is paramount - and the trustee may not engage in self-dealing.

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  • Is it possible to close a special needs trust?

    I have had a special needs trust through Secured Futures and they only pay for my wants but not my needs. Which are bills such as lights, water,and etc. I have disability but that is not enough to get by and live comfortably. Is there any way that...

    Michael’s Answer

    Sit down in person face-to-face with the Trustee to review how the provisions of the Trust apply to your situation. See Avvo.com under 'Find-A-Lawyer'.

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  • What are my options? The trustee of my mother's irrevolcable trust changed the successor trustee illegally and has ruined me.

    Mom dies. Step-father hides $2 mil of $3.5 mil dollars. Brother takes him to court and signs settlement agreement changing successor trustee. 4 benificiaries =Trust A/B=2ea Old successor bank failed. BoA bought out old bank. BoA legal trustee. Set...

    Michael’s Answer

    Have your Attorney file a Motion to Compel a Complete Fiduciary Accounting and a Motion to Replace the Trustee for Breach of Fiduciary Duty. Good Luck.

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  • Am I entitle to anything if my grandparents are decease and her kids (my mother deceased also)are getting the property.

    Grantparents passed away last year five kids alive and my mother grandparents daughter deceased do me and my sibling have the right to anything

    Michael’s Answer

    Time to sit down face to face with an Estate / Probate attorney. See Avvo.com under the link "Find-A-Lawyer". Good Luck.

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  • I live in a mens home that is part of a charitable foundation. Is there a tax benefit for me living there

    NTEE Classification - Housing Development, Construction, Management NTEE Type - Housing, Shelter Classification - Charitable Organization Subsection - 501(c)(3) (View the list of codes) Activities - Foundation Status ...Organi...

    Michael’s Answer

    James is correct. If the home is actually a 'qualified charity' then the contributions are tax favored.

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  • My sister has presented two claims against my Fathers Trust totaling over $47,000.00. Dad made me Trustee of the Trust.

    My sister went to probate court, told numerous lies to the Judge and got Guardianship/Conservator ship of Dad. Sister told me in November after Dad died that she would leave me alone if I gave her $5,000.00. I had planned to do so after the Trus...

    Michael’s Answer

    Have your attorney file a Motion to Replace the Trustee for beach of fiduciary duty and a Motion to Compel a Complete Fiduciary Accounting.

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  • Can you create a living trust using a P.O. Box instead of a physical address?

    We are looking to start a living trust over Legal Zoom however we don't want to waste our time if we cannot use a P.0. Box. We do not have a physical address for mail. Can you create a living trust using a P.O. Box instead of a physical address?

    Michael’s Answer

    Steve's answer is very good. The banks may require a physical address. Good Luck.

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  • How do I file my mother's will in Las Vegas, Nevada?

    My mother passed away earlier this month, and I am the executor. Probate is unnecessary due to the size of her estate. I do not know where to take my mother's will to file it.

    Michael’s Answer

    My condolences on your Mother's death. File the Will and Certificate of Death with the Probate Court. Probate applies to deceased persons who pass owning any real estate whatsoever plus a certain amount of other property. If the Estate falls under that threshold you can do an Affidavit of Entitlement to accomplish the transfer of assets. Good Luck.

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