Thomas Eugene Stindt’s Answers

Thomas Eugene Stindt

Contributor Level 10
  1. Are the assets protected by a revocable trust required to be used to pay off unsecured credit card debt after death ?

    Answered almost 6 years ago.

    1. Thomas Eugene Stindt
    1 lawyer answer

    You are correct that the credit card debt is not inherited by a beneficiary, however, that has a limited meaning. That meaning is that the indebtedness of your uncle is not passed on to you personally, i.e., you don't take over and assume his debt, unless somehow a creditor could prove that you are in some way partially responsible for the debt by having joined somehow in its creation or benefitting from its creation--that would be a matter for the credit card issuer to try to establish, a...

    3 people marked this answer as helpful

  2. Can a person give power of attorney to more than one person in the state of IL

    Answered almost 6 years ago.

    1. Henry Repay
    2. Margery Ellen Golant
    3. Thomas Eugene Stindt
    3 lawyer answers

    Your question has several parts, and it should be addressed by an Illinois probate attorney, so this information is for general background purposes only. First, the creation of a power of attorney instrument, whether durable, general, or special, relates to management of business affairs. It won't necessarily empower the named agent to "get Grandma out of the hospital" although the agent could sign financial/legal documents such as discharge papers or rental agreements for a new residence....

    1 lawyer agreed with this answer

  3. Can my dad change the beneficiary for his Revocable Living Trust from a person to a different Living Trust ?

    Answered almost 6 years ago.

    1. David Michael Goldman
    2. Jeffrey Allen Cramer
    3. Thomas Eugene Stindt
    3 lawyer answers

    He will need to do this in conformity with Florida trust law, and to do it right, by properly naming it in some fashion such as: "the trustee of the xyz revocable trust, dated ABC, or any successor trustee thereof, provided said trust has not been revoked and is in existence at time of my death, and if it has been revoked or is no longer then existing, to (default beneficiary)" The risk to your father is that you could amend that trust to make its primary beneficiary your father's worst...

    2 people marked this answer as helpful

  4. Who is responsible for a person's credit card debts if he/she suddenly dies

    Answered almost 6 years ago.

    1. Gabriel Cheong
    2. Thomas Eugene Stindt
    2 lawyer answers

    The simplistic answer is that the card-holder's estate is obligated, and nobody who is a beneficiary will "inherit" the debt, it just serves to reduce or extinguish estate assets. There are exceptions, however, and this depends largely upon two things: The marital property system of the state of decedent's residence, and the characterization of the debt. In a community property state such as California, for example, even though the card is in the decedent's name alone, if he was married...

    1 lawyer agreed with this answer

  5. Estate Planning / executor

    Answered almost 6 years ago.

    1. Robert W. Hughes Jr.
    2. Thomas Eugene Stindt
    3. John Max Barger
    4. Theodore W. Robinson
    4 lawyer answers

    If a formal probate estate was opened for your mother, then your brother as Executor is charged with making distribution under her Will as admitted to probate. It may be that there are creditors' claims, tax returns to be filed, other matters to be attended to before the estate is ready for distribution to the beneficiaries. Does the Will make you and your brother residuary beneficiaries? Your next step is to take the copy of the Will and whatever file you have from what your brother has...

    2 people marked this answer as helpful

  6. If the final accounting or decree of Distribution is not turn over to the court or the beneficiaries, since January of 2008.

    Answered almost 6 years ago.

    1. Thomas Eugene Stindt
    1 lawyer answer

    You don't provide enough information to give you much of a helpful answer. When was the estate opened and letters issued, and has a probate inventory been filed? Is this a large estate which requires a federal estate tax return to be filed? Problems with creditors which might delay distribution? You could contact the personal representative and ask for an update and status report from her, and ask her for a timeline as to when an accounting and final distribution might be expected. First,...

    2 people marked this answer as helpful

  7. Can I deduct property taxes on my home, which is in an irrevocable trust?

    Answered almost 6 years ago.

    1. Thomas Eugene Stindt
    1 lawyer answer

    The taxation rules regarding trusts can become complex, but if I understand your question right, and if your trust remains revocable, you should be able to deduct property taxes on your personal income tax return. That is because a revocable grantor trust is disregarded for tax reporting purposes, and you are treated as the owner of the property for tax purposes. Essentially you are the owner, since you could revoke the trust at any time. All activity in the revocable trust flows through to...

    1 lawyer agreed with this answer

  8. I bought real property from a living trust and the seller did not disclose problems about the house do I sue the trust

    Answered almost 6 years ago.

    1. Thomas Glenn Martin
    2. Thomas Eugene Stindt
    3. Margery Ellen Golant
    3 lawyer answers

    A Trustor/Settlor of a living trust generally cannot insulate himself from liability for non-disclosures by attempting to interpose his revocable trust as a shield. Because the trust is still revocable, the law of most jurisdictions will disregard it and make the trustor responsible. Were the trustor deceased, and the trust then irrevocable, special rules relenting disclosure responsibilities can apply, even in California, where a decedent's estate or irrevocable trust does not have to...

    1 lawyer agreed with this answer

  9. Are living trusts transferable state to state?

    Answered almost 6 years ago.

    1. Thomas Eugene Stindt
    1 lawyer answer

    Your trust may direct that California law shall apply to matters of construction and also as to determination of default distribution patterns, if all named beneficiaries and their issue are deceased. The forum court in your new state will generally follow the Trustors' instructions as to choice of law for such purposes. However, as to characterization of property, especially as to property acquired while you are in your new home state, the law of the jurisdiction will typically determine...

    2 people marked this answer as helpful

  10. Do I have rights to my bio fathers estate upon his death since he never married and has no other children?

    Answered about 5 years ago.

    1. Thomas Eugene Stindt
    1 lawyer answer

    You are what might be termed an out-of-wedlock child who was "adopted out" of your biological father's family line. Each state has its own public policy determinations, reflected in its probate statutes, as to how the law should treat out-of-wedlock issue, and how an adoption affects status of issue to inherit through biological birth parents. Sometimes the difference will be whether the adoption was by a step-parent while the adoptee was a minor, and if the adopted child lived in the home...

    1 person marked this answer as helpful