Skip to main content
Michael Leo Potter
Avvo
Pro

Michael Potter’s Answers

4,323 total


  • Can a beneficiary represent a trust in legal actions when by directed by the Trustee and in agreement with all beneficiaries?

    This is in California involving a wrongful foreclosure civil action

    Michael’s Answer

    I concur. If the reading of the Trust language allows it, then yes but because of the complexity involved it may be prudent to utilize an experienced Estate Attorney. See Avvo.com under 'Find-A-Lawyer'.

    See question 
  • It is considered a gift if I put money in a joint account for my children?

    Putting money in an joint for my kids.

    Michael’s Answer

    If the amount your are depositing in any way is consider 'Child Support' then it is NOT a gift. On the other hand if the amount is above and beyond or separate from any amount you may be required to pay as child support then it might be considered as a gift. Have your attorney and tax advisor address this. Good Luck.

    See question 
  • If a house that has a trust be sold and monies dispersed to beneficiaries of trust while owner of trust is still living?

    Our mother has advanced dementia and has been living in a nursing home for more than a year. We have been paying the nursing costs monthly from her consolidated accounts. Her home has been unoccupied and is beginning to show signs of decay. We (he...

    Michael’s Answer

    First of all, it is not your home. It is hers. If she transferred the Home into the Trust, then only the Successor Trustee (whomever she has named) can 'decide' to sell, and since she is still allve your Mother is the primary beneficiary (normally) until her death. ONLY THEN do the contingent beneficiaries become primary beneficiaries. Plus if she is in a Nursing Home and Medicaid is covering all of a portion of her care, then Medicaid may have a lien on the property to get repaid for the $$$ which Medicaid paid for her care. See Avvo.com under 'Find-a-Lawyer'.

    See question 
  • How can inheritance funds from an irrevocable trust be spent without being taxed?

    At the present moment, there is a decent amount of money in an irrevocable trust ($2M) being managed by Morgan Stanley in misc cds, stocks, mutual funds, etc. that is to be split between step siblings 50/50. Is it safer to keep the money in the t...

    Michael’s Answer

    Because of the amount you mentioned I'd be careful and choose an experienced Estate Planning attorney to advise you before you have a commissioned financial planner get involved. It;s important to know what kind of Trust and what the Trust says specifically about distributions, etc. See Avvo.com under the link 'Find-A-Lawyer; Good Luck to you.

    See question 
  • What law is broken when a John Doe tells police Sally is mentally ill, whether real or fictitious in order to fraud sally?

    What law is broken when John Doe gives police Sally's name and says he is common-law married to sally in order to fraud her. What law is broken when Sally cannot file a police report, as a result? What steps can sally take to have John brought t...

    Michael’s Answer

    • Selected as best answer

    Submitting a false police report (i.e. lying) is a crime. She needs protection and I concur with my colleagues advice.

    See question 
  • Was it legal for me to type this below legal document and have it legal and binding in his trust without an attorney involved?

    My dad made me his POA in March 2008 and Iam the yougest of three sons and dad amended his 1990 poa to the above. Dad signed the amended version with his attorney/notorized. Dad passed 9/30/12 but on 9/27/12behind Dads back the son on the 1990 poa...

    Michael’s Answer

    It smells like a fraud has been perpetuated in this case. Complications can be avoided if your Dad will simply sit down with his Trust Attorney and have his documents reviewed in light of his change of mind and then Amend the Trust to be consistent with his wishes. See Avvo.com under 'Find-A-Lawyer'.

    See question 
  • 1) If an executor rejects the estate's attorney's advice about making distributions to the beneficiaries of a pour-over trust

    does he forfeit the right to charge any of the fees of the estate's attorney to their share? 2) Is it legal to charge to the trust any fees of a lawyer hired to oppose distributions to its beneficiaries? 3) Is it legal for the executor/trustee to ...

    Michael’s Answer

    You're confusing trust with a will. The attorney typically is trying to assist the administrator of the Estate (whether it's a Will or a Trust) to comply with the Deceased's wishes - and it is the fiduciary DUTY of the Executor of the Will or the Trustee or a Trust to do so. Why in the world would he or she NOT work with the Attorney to accomplish exactly and precisely what the Deceased instructed??

    See question 
  • We are buying a condo in Florida and would like to set up a trust for the purchase.

    Does it matter whether we use a Florida lawyer or local lawyer to draw up the trust?

    Michael’s Answer

    Use an attorney in the place where you are moving. See Avvo.com under 'Find-A-Lawyer', Good Luck.

    See question 
  • Can anyone offer what the statutory requirement for a spouse in the state of wa,

    My family have a Trust with my father as the Trustor/Grantor. He is in poor health at 95. His wife of 30 years wants him to revoke the trust and change the terms from 2/3 for his natural children and 1/3 for hers. All children adults when married...

    Michael’s Answer

    You'd be wise to meet with an Estate Planning attorney in Washington State. See Avvo.com under the link called 'Find-A-Lawyer..

    See question 
  • Name of procedure to claim ownership of my % of property not included in the trust.

    The property in was put in a trust.but because my mother was still alive at the time my 3rd was not put in the trust. A lawyer at the time said there was a form to fill out to claim the property I wanted. This lawyer is now serving our country so ...

    Michael’s Answer

    Normally when the Grantor of a Trust signs a Revocable Living Trust (RLT) they also simultaneously sign a Pour-Over Willl which then "pours over" the assets outside of the Trust for distribution in accordance with its Trust provision.

    See question