Samuel Bruce Ledwitz’s Answers

Samuel Bruce Ledwitz

Torrance Probate Attorney.

Contributor Level 7
  1. My mother and I purchased a duplex. What kind of trust agreement should we use to minimize taxes?

    Answered 12 months ago.

    1. Kelvin P. Green
    2. Samuel Bruce Ledwitz
    3. John Michael Phillips
    4. Robert J Adams Jr.
    5. Joseph Franklin Pippen Jr.
    5 lawyer answers

    Based on your fact pattern I would recommend that you and your mother each create a trust and name each other the beneficiary of the other's 50%. There are two problems with joint tenancy. One is that at the second death there would be a probate and, two, if one of you became incapacitated there would be no way to act on the other's behalf (assuming there is no DPA). As far as taxes go: At the death of your mother, her half would get a full step-up in basis under the IRC 1014(b)(6). You...

    9 lawyers agreed with this answer

  2. I am administering a small estate using the summary procedure. Do I need an Federal ID Tax Number?

    Answered 9 months ago.

    1. Rosemary Jane Meagher-Leonard
    2. Samuel Bruce Ledwitz
    3. Jason Samuel Sheinberg
    3 lawyer answers

    If an estate is worth under $150,000 and real property does not exceed $50,000, then Section 13100 of the Probate Code permits you to administer the estate as a small estate and avoid the Court supervised process called Probate. (See section 13050 for other assets that are not included in the calculation of the estate value). An EIN (Employer Tax Identification Number also used for trust administrations) is not required. If you needed an EIN, then you could go on www.irs.gov and file for one...

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  3. Could you foresee any complications with quitclaim deed properties if one spouse dies?

    Answered 12 months ago.

    1. Michael Raymond Daymude
    2. Samuel Bruce Ledwitz
    3. Christopher Daniel Leroi
    3 lawyer answers

    If community assets have been used to pay the bills, property tax, and other costs associated with the property, and the property is truly community property, and the property was never put in both spouses names (as I believe the question indicates), the surviving spouse can sue to recover his or her half of the community property that they never consented to transferring to the third party. It is possible to change the characteristic of the property (SP to CP) without changing the deed to the...

    4 lawyers agreed with this answer

  4. Pic want a living trust that keeps property in the bloodlines

    Answered 12 months ago.

    1. Michael Charles Doland
    2. Michael Leo Potter
    3. Samuel Bruce Ledwitz
    4. Joseph Franklin Pippen Jr.
    4 lawyer answers

    A living trust would accomplish your goals of avoiding the spouses. It would name only your sisters as the beneficiary of the property and it would avoid costly probate. It is true that at the time that your sisters inherit the property it will be their respective separate property. However, as time goes by, and they use some of their paycheck (community property) to pay taxes, upkeep, etc., the property could be transmuted into community property, or at a minimum, be subject to...

    3 lawyers agreed with this answer

  5. Can a Heggstad petition start a trust or must it already exist?

    Answered about 3 years ago.

    1. Samuel Bruce Ledwitz
    2. Michael Robert Weinstein
    3. Stephen Craig Hinze
    3 lawyer answers

    A living trust is much like an empty container when it is first created. Typically, right after the signing of the trust, the client is instructed to go down to the bank and put the account in the name of the trust (this places the account in the container) (an asset such as a house will be put into the trust by a quitclaim deed prepared by an attorney). The bank will ask the client to fill out a trust certification (who is the trustee, the name of the trust, is the trust revocable, etc.)....

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  6. Can I add to the full-power-of-attorney, that I am giving to my brother, that I can cancel it any time by email notification?

    Answered about 3 years ago.

    1. Samuel Bruce Ledwitz
    2. Justin C. Lowenthal
    3. Steven J. Fromm
    3 lawyer answers

    A General Durable Power of Attorney is valid until you revoke it. Revocation can be done in writing (email is fine) to convey to the attorney in fact (your family member) that his/her authority has been terminated. If this were soley a U.S. matter, and you were very concerned, I would suggest having the Power of Attorney recorded in the County you are transacting in, and when you wish to revoke it, I would record the revocation with the county recorder. This would legally put all third...

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  7. Is there a form to lodge a pour over will when you are not going to probate an estate? Do I just hand it to the clerk?

    Answered 12 months ago.

    1. Rosemary Jane Meagher-Leonard
    2. Eric Jerome Gold
    3. Samuel Bruce Ledwitz
    3 lawyer answers

    You are required to file the Will with the Court within 30 days of the death. In most counties there is a fee associated with the filing. Both Los Angeles and San Diego County charge $50. Most lawyers use an attorney service that can quickly file this for you.

    2 lawyers agreed with this answer

  8. Living trust verse a revocable trust.

    Answered about 3 years ago.

    1. Janet Lee Brewer
    2. Samuel Bruce Ledwitz
    3. Cecilia A Tsang
    3 lawyer answers

    I agree with Attorney Brewer. A Living trust is typically a revocable trust and this just means that you are able to change it throughout your life. It does not offer any credit protection. The assets in the revocable trust are subject to estate tax (exemption is currently $5,000,000). An irrevocable trust offers the ability to avoid estate tax (such as an irrevocable insurance trust) at the time of your death. Technically, you have given the asset to the trustee of the trust (which can'...

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  9. Can an attorney help me with obtaining property? I am a #2 executor and close friend and caregiver for the deceased.

    Answered 11 months ago.

    1. Stephen Scott Pearcy
    2. Samuel Bruce Ledwitz
    3. Eric Jerome Gold
    3 lawyer answers

    The Irrevocable Trust would have a distribution section in it that would state who is the beneficiary of the property. In this case it is the "incompetent" son that cannot afford to live in the property. The acting trustee may take this into consideration and sell the property if it is not feasible to distribute the property to the son. Also, there might be costs and taxes that must be paid as a result of the final illness, income tax, etc. that must be paid before the distribution of the...

    1 lawyer agreed with this answer

  10. Does a house have to be sold before exeuctors job is complete

    Answered about 3 years ago.

    1. Michael Robert Weinstein
    2. Samuel Bruce Ledwitz
    3. Steven J. Fromm
    3 lawyer answers

    There is some important missing information in your question. The word executor refers to a will (the person in charge of a will is called an executor (if male) or an executrix (if female). The word "trustee" refers to a living trust. The person in charge of a trust is called a trustee (can be either male or female). If there were neither a will or a trust the person in charge would be called a personal representative. I will assume for your question that you are dealing with a properly...

    1 lawyer agreed with this answer