L Christopher Arvin’s Answers

L Christopher Arvin

Santa Monica Estate Planning Attorney.

Contributor Level 13
  1. What is the order to be paid in probate?

    Answered almost 3 years ago.

    1. L Christopher Arvin
    2. Uzzell S Branson IV
    3. Steven J. Fromm
    3 lawyer answers

    Assuming Decedent resided in CA: 1.Priority of payment of creditor claims. PC 11420 sets forth the order of payment of the decedent’s debts, expenses of administration and charges against the estate. If the estate is insolvent and there are insufficient assets to pay general debts, it may be necessary for the PR to pay a portion of each general debt, pro rata. PC 11420 provides: (a) Debts shall be paid in the following order of priority among classes of debts, except that debts owed...

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  2. Tax ID for a revocable living trust

    Answered almost 3 years ago.

    1. L Christopher Arvin
    2. Robert Paul Bergman
    3. C. Kelley Corbridge
    3 lawyer answers

    Hi - Tell them its a revocable living trust - and NO TAX NUMBERS ARE ISSUED FOR REVOVABLE LIVING TRUSTS IN WHICH TRUSTORS/TRUSTEES/BENEFICIARIES ARE SAME! Amazing - 5 % of the banks still mess this up .. usually its the credit unions

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  3. If you have a trust amendment and the attorney who made up the trust also acts as the notary, Is this a conflict of interest or

    Answered almost 3 years ago.

    1. Michael Charles Doland
    2. L Christopher Arvin
    3. Paul A. Smolinski
    4. Charles Adam Shultz
    5. Rachel Mary Campagna
    5 lawyer answers

    Clearly there is not. This is a service provided by the attorney, sounds like at no cost, as a courtesy to his client. Attorney may also be a witness to signing of a Client's Will. Is there something that did not get typed into the question?

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  4. I need to "Lodge" a will; however, the original can't be located. Can I lodge a copy and if not what then?

    Answered almost 3 years ago.

    1. Steven J. Fromm
    2. Robin Mashal
    3. L Christopher Arvin
    4. Deborah Kay Patterson
    5. Uzzell S Branson IV
    5 lawyer answers

    no. you don't "lodge" a copy - you "lodge" the original. you have to prove this copy. makes sense - testator could have ripped it up / destroyed original ... likely with the intent to eliminate what he/she did! that being said, i ran into this, passed the requirements, court admitted... but you have to satisfy many requirements and obtain consent of court .. gets more difficult obviously if there are individuals who would object (e.g., anyone who would receive properties if there was...

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  5. We plan to gift the half interest we have on the house with our son assuming our mortgage, what are the tax implications?

    Answered almost 3 years ago.

    1. L Christopher Arvin
    2. Christopher Michael Larson
    3. Steven J. Fromm
    3 lawyer answers

    Based on limited information - the gift is the value of the gift/property and has nothing to do with "basis" (which is generally purchase price paid, less depreciation). If you owned 1/2 - subject to debt, then take the net as the gift. If the property has appreciated (who knows in today's world) .. then it may or may not be better to keep house, gift in your Trust - property interest would get stepped up basis on date of death. Not sure if you are doing this because of the...

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  6. Parents deceased 5 years, assets 200K+,was a will, probate closed, paid to 4 of us. Now found old asset 180K now what? In Cali.

    Answered almost 3 years ago.

    1. Molly Cristin Hansen
    2. L Christopher Arvin
    3. David S Hoffman
    4. Robert V Cornish Jr.
    5. Thomas William Dominick
    5 lawyer answers

    Unless the account located (supposedly) had some unusual form of co-ownership, the Order that you previously received after a full probate would be valid. Pull order - it likely has % division of after discovered property, such as this. You would likely not need to open a probate just for this. The service that "discovered" the account, likely is clueless on the Order/Probate. You should contact them to discuss - likely non-issue (if there is an account). But first - check...

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  7. I'm 21 am I able to claim my trust fund my grandmothers left me when I was 8.

    Answered almost 3 years ago.

    1. Joseph Franklin Pippen Jr.
    2. Marian Audrey Lindquist
    3. L Christopher Arvin
    4. Daniel Medina
    4 lawyer answers

    Hire an attorney

    10 lawyers agreed with this answer

  8. If a living trust has an expire dt 2010 is it still valid

    Answered almost 3 years ago.

    1. L Christopher Arvin
    2. Sherrille Diane Akin
    3. Paul A. Smolinski
    4. Aida Milagros Del Valle
    4 lawyer answers

    What do you mean by "expire dt of 2010" - be specific - never heard of a revocable trust with an expiration date - quote whatever you are reading. Is this yours? Is the person dead? What are you referring to

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  9. Whats usually the fees earned by an executor of a will

    Answered almost 3 years ago.

    1. David S Hoffman
    2. L Christopher Arvin
    3. Steven J. Fromm
    3 lawyer answers

    California Probate Code sets the maximum statutory fees that attorneys and executor/administrator can charge (each) for a probate. Higher fees can be ordered by a court for more complicated cases. The fees are four percent of the first $100,000 of the estate, three percent of the next $100,000, two percent of the next $800,000, one percent of the next $9,000,000, and one-half percent of the next $15,000,000. For estates larger than $25,000,000, the court will determine the fee for the amount...

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  10. If an irrevocable trust is created and the main trustee dies, does remaining trustee pay inheritance tax on everything/

    Answered almost 3 years ago.

    1. Sherrille Diane Akin
    2. Yvette E. Taylor-Hachoose
    3. L Christopher Arvin
    3 lawyer answers

    This is a very complicated area. You need to see an attorney - too easy to make a mistake. For example only, if your dad creates an irrevocable trust and retains an income interest, is included in his taxable esate. There are many nuances. See an attorney - being frugal will likely cost later!

    9 lawyers agreed with this answer