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Michael Leo Potter
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Michael Potter’s Answers

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  • Picking between a Last will and testament or a Living Trust

    I want to make sure all of my assets go to who I have listed as watching over my things, House, insurance, cars, everything I own.

    Michael’s Answer

    Best Answer: Use a Living Trust Estate Plan with a Pour Over Will, Power of Attorney for Health Care, Springing Durable General Power of Attorney, a Physician's Directive on Artificial Life Support, Trustee's Instructions, HIPAA Instructions etc. See Avvo.com under 'Find-A-Lawyer'. Good Luck.

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  • Can a spouse have a will or trust made regarding the couple's community properties, etc without the knowledge of other?

    Can a spouse make out a trust or will without the other person knowing regarding their personal property?

    Michael’s Answer

    Both my colleagues are correct. But the violation of the TRO is a serious matter if indeed a divorce has been filed. Sit down with an attorney and map out a strategy that accomplishes your goals without violating a court order. Good Luck.

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  • My 17+ year old daughter is named in a trust from my mother. My ex-wife wants to sue the trust. What are my daughters rights?

    My mother's will explicitly disinherited my ex-wife and set up a small trust ($25K) for my daughters (17 1/2, 15) they will get when they are 21. My ex who has legal custody is threatening to sue the trust. Nothing has been filed yet. AFAIK the su...

    Michael’s Answer

    I concur. This could be costly to sue for such a measly amount. You may want to have your daughters attorney contact the opposing party and see what can be negotiated. Good Luck.

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  • What is the statute on how often I should get trust statements

    My father created a marital trust for his second wife. I am the beneficiary on her passing. The funds are with a small investment firm. There is no document governing the trust. By statute, how often must the trustee provide me statements listing ...

    Michael’s Answer

    All states provide for Fiduciary Accounting to be rendered by the Trustee to the vested beneficiaries. Until your step-mother's demise that would be her unless the Trust document provides otherwise. In most states the requirement is a minimum of once a year until the Trust document provides otherwise. So your step-mother would receive the accounting. After her death, the Successor Trustee would have the responsibility and the duty of providing for the accounting.

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  • How can l get guardian ship of my older sister ( first stage of Alzheimer ) my sister is in Albuquerque with cousin has guardia

    lm concerned about my sister well been. l dont think the cousin is taking proper care of her and my sister's children dont care about her well been. please help. Sincerely , Reynalda

    Michael’s Answer

    I concur with my colleague Dara. First you should discuss care options with the Guardian. Second, you need to explore the legal options. See Avvo.com under the link 'Find-a=Lawyer'. Good Luck.

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  • Am I entitled to a copy of the trust?

    I recently found out that I am a qualified beneficiary of an irrevocable trust that is disbursed when my surviving grandmother passes away. Am I entitled to a copy of the trust?

    Michael’s Answer

    All beneficiaries have a right to a copy of the Trust.

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  • Can my mom change executors since her husband has passed.

    my stepfather passed away in Feb 2015. His son and her son are both executors of the estate. Her step son has borrowed thousands of dollars and has never repaid it and she wants him off as executor and have just her son on there.

    Michael’s Answer

    She can have her lawyer file a Probate Petition, asking that SHE be the Executor - which the Court would likely support. Her petition should also request his son be removed as Executor. She cannot now change the Will so she will need the Court to approve any change in Executor(s). See Avvo.com under 'Find-A-Lawyer'. Good Luck.

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  • Hi! Hoping someone can offer some advice. My dad, is the trustee of his living revocable trust and of my late mothers..

    but recently he signed over his rights as trustee to my sister. My dad left the country in June and told my sister to hire a mangement company to run his apartment buildings. She did not do so and instead is attempting to sell two of his apartment...

    Michael’s Answer

    Your Dad can REVOKE her appointment as Trustee, AND he should institute a Lawsuit against her for Fraud & Breach of Fiduciary Duty. I wouldn't blame him if he also removed her as a contingent beneficiary. See Avvo.com under 'Find-A-Lawyer'. Good Luck.

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  • Are trust attorneys fee's usually a percentage thats based on the trusts total estimated value and are they manditory?

    Are trust attorneys fee's usually a percentage thats based on the trusts total estimated value? Are trust attorneys even neccessary? How do I go about verifying a trusts monetary accountability and a POA's accountability?

    Michael’s Answer

    No - percentages are usually associated with Personal Injury law, not Estate Planning law. Most attorneys who are competent in this complex field of law charge a flat rate for certain types of Trusts. Yes they are necessary just like physicians are needed and nurses and rocket scientists are needed. The trustee of a trust owe a fiduciary duty to the beneficiaries to provide an accounting. The person holding another POA is responsible for the duties included in the Grantor's choice of POA type. See Avvo.com under the link "Find-A-Lawyer" and enter the field of law and the name of the city & state. Good Luck.

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  • "If I were to bring my Trust Fund Case to court; will the court be able to control my money in question until the case is settle

    "I would require the Court to use (my) money in question to pay my rent and utility bills; will federal court or other court be able to make payments; or will I have to wait until my case is settled to a Bank Trustee; thanku; A.R. : )

    Michael’s Answer

    I concur. Typically, the Probate Court would follow the distribution provisions of the Trust document itself.

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