Charles Adam Shultz’s Answers

Charles Adam Shultz

Los Angeles Probate Attorney.

Contributor Level 19
  1. My husband and I are planning to create a family trust. This is our first marriage.

    Answered over 1 year ago.

    1. James P. Frederick
    2. Charles Adam Shultz
    3. Theodore Michael Hankin
    4. Chris Gray
    5. Craig Martin Scalise
    6. ···
    6 lawyer answers

    I agree with Mr. Frederick. In addition, I would like to point out that you should not try to do this on your own. A qualified estate planning attorney can walk you through all of this very quickly. The current estate tax exclusion is $5.25M for each spouse. If the planning is done right, no taxes should be incurred for a total estate less than $10.5M at the second death.

    12 lawyers agreed with this answer

  2. Can family members request a copy of a will?

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Stephen Scott Pearcy
    3. Jay Bodzin
    3 lawyer answers

    A copy can be requested but does not need to be provided. If you believe someone has taken advantage of your mom, the only way to address that before she dies is through a conservatorship proceeding. That can be expensive, so you need to weigh the costs and benefits of initiating that process. You should meet with an Elder Law attorney to determine, what, if anything should be done.

    12 lawyers agreed with this answer

  3. If I wanted to pay off someones house for them, what is the best way to do this in reference to taxation, etc.?

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Evan A Nielsen
    3. William Richardson Christian
    4. David Allen Hiersekorn
    4 lawyer answers

    What is your total estate? That affects the answer. If under 5.25M, lots of options with no tax consequences. As far as simplest, gift them the money, no tax to them, but the amount over 28K is a taxable gift and would apply against your lifetime exclusion of 5.25M. You could also refinance their debt on commercially reasonable terms. Right now you could do a 9 year loan with interest only for about 1% and then refinance after that. There are many variables that go into answering...

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  4. Do I need a Family or Estate Planning Lawyer?

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Paul Rudolph Miller
    3. Craig Martin Scalise
    4. Dagmar Pollex
    5. Eron Patrick Malone
    5 lawyer answers

    You need an Estate Planning attorney to prepare a nomination of guardian. You should also be thinking about an estate plan to provide management of assets to care for your daughters and leave money for them as they get older. Rosemary Meagher-Leonard is in your area. She's on AVVO.

    11 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. Is it illegal to sign my corporate tax return, under my name as an officer, with a signature that is not my usual signature?

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Phillip Monroe Smith
    3. Michael Charles Doland
    3 lawyer answers

    You can mark (sign) a legal document in anyway you want as long as its your mark and you identify it as such. People change their signatures all the time and sign letters and documents differently. Its only an issue if someone later questions the signature or wants proof that the signature belongs to you. It would be illegal for you to later deny its your signature on the document if you in fact sign it in a way different than you usually do.

    11 lawyers agreed with this answer

    1 person marked this answer as helpful

  6. Spendthrift clause in Revocable Trust

    Answered over 1 year ago.

    1. Mary Lynn Symons
    2. Charles Adam Shultz
    3. Stephen Scott Pearcy
    3 lawyer answers

    The spendthrift provisions are for your beneficiaries. You have no creditor protection from your revocable trust. At the first death, if the trust creates a Bypass Trust, and/or Marital Trust which are irrevocable, those trusts could have creditor protection for the surviving spouse.

    11 lawyers agreed with this answer

    1 person marked this answer as helpful

  7. If a patient fell from her wheelchair and home health care aid put her back in her bed.left the patient and aid went home in the

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Samuel Aaron Coffey
    3. Will Murphy
    4. Jesus Novo III
    5. Josh P Tolin
    6. ···
    6 lawyer answers

    Did they health care worker work for any agency? That agency and the worker could be liable for neglect. The hospitals records would have to be reviewed to determine if they did anything wrong once the woman gor there.

    13 lawyers agreed with this answer

  8. Is it ethical for an estate planning attorney to recommend an investor to a client, without being asked to?

    Answered over 1 year ago.

    1. Christine James
    2. Charles Adam Shultz
    3. Jane Kempf Penhaligen
    4. Erik Robert Hartstrom
    4 lawyer answers

    Its not per se unethical, but it does sound like a conflict of interest. It also sounds like you may have a civil claim for malpractice, negligence and breach of fiduciary duty. You need to consult with a malpractice attorney. Also, you can look into filing a complaint with the state bar.

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  9. Does a discretion poured-over trust allows the trustee to sell real estate asset.

    Answered over 1 year ago.

    1. Charles Adam Shultz
    2. Michael Raymond Daymude
    3. James P. Frederick
    3 lawyer answers

    Unless there is some provision in the trust prohibiting sale or some compelling reason that the property was intended for use by the beneficiary or would somehow cause the beneficiary harm, the trustee has the right and power, and possibly even the duty to sell the property. If you believe there is a problem, you should contact a trust litigation attorney and provide them a copy of the trust and all the reasons you object.

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  10. Tax Implication on Loan vs Gift

    Answered over 2 years ago.

    1. Charles Adam Shultz
    2. John Addison Vos
    3. Christopher Michael Larson
    4. Jeffrey David Katz
    4 lawyer answers

    Your question is not as simple as it sounds. One key fact missing is the total estate of the donor. In addition, if a loan, there could be issues with the lender. In order for the funds to be consider by the donee as purchase money to deduct the proceeds, the loan would have to be secured by the real property. The lender on the first may not be happy and you could have problems when apply and disclosing the loan. You really should sit down with an estate planning attorney and also...

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