Steven Matlin Greenwood’s Answers

Steven Matlin Greenwood

Thousand Oaks Estate Planning Attorney.

Contributor Level 12
  1. Can the beneficiaries elect a new successor Trustee if there is a vacancy in the position, without court approval?

    Answered over 2 years ago.

    1. Steven Matlin Greenwood
    2. Brad S Hindley
    3. Steven M Zelinger
    3 lawyer answers

    Section 15660 (b) of the CA Probate Code states that one should first look to the trust document regarding trustee replacement. If language regarding to this issue is NOT present, then, under sub-section (c), the unanimous vote of the beneficiaries for a "trust company" to take over will be effective. If neither possibility exists, a court petition will likely be requried. The answer to your question is YES, if you all can agree on a specific trust company who will accept the responsibility....

    Selected as best answer

  2. About living trust.

    Answered almost 3 years ago.

    1. Steven Matlin Greenwood
    2. L Christopher Arvin
    2 lawyer answers

    Essentially, a living trust is an estate planning tool that is designed to manage and subsequently transfer assets to another in the event of incapacity or death, without having to rely upon the government's plan which is effectuated through probate. The avoidance of probate is desired in California for a number of very important reasons. Your question however, seem to suggest a desire to give your domestic partner rights in your house now, while you are still alive and have full capacity....

    Selected as best answer

  3. Can the terms of my promissory note held in my father's trust be changed by a trust provision of which I was not aware?

    Answered about 2 years ago.

    1. Steven Matlin Greenwood
    2. Michael Raymond Daymude
    3. Eric Jerome Gold
    3 lawyer answers

    When your father "issued" the promissory note, I'm going to assume it was in writing and that you signed it. As such, it cannot be unilaterally amended. Both sides to this contract/note must agree for it to be modified. His forgiveness of interest and principal reduction could be argued to be a testamentary gift; or conversely a unilateral unconsented to act. This change attempt would follow the same logic. Much would depend upon the actual terms of the original promissory note that you...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  4. I am disabled and receive social security disability, medicare and medical. My mother passed away and left me as her beneficiary

    Answered over 2 years ago.

    1. Michael Raymond Daymude
    2. Steven Matlin Greenwood
    3. Lee Leonard Kaster
    4. Edna Carroll Straus
    4 lawyer answers

    Your ability to continue receiving governmental assistance can definitely be impaired if the inheritance you receive if it is in excess of specific amounts. This is a highly technical area that requires expertise beyond the scope of most estate planning attorneys. I strongly recommend you seek immediate legal counsel from a "special needs" estate planning specialist/attorney. One wrong move and your benefits may be suspended or even terminated. Do not wait...seek competent legal counsel now!

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. California SOL for mentally retard and mentally ill beneficiaries Living Trust, Sister will not provide Trust, It's 5 years now!

    Answered over 2 years ago.

    1. Steven Matlin Greenwood
    2. Rosemary Jane Meagher-Leonard
    3. Joseph Franklin Pippen Jr.
    3 lawyer answers

    The prior answer is a good short response. Let me elaborate. The trustee of a trust has the highest duty the law creates (known as a fiduciary duty) to the beneficiaries of the trust. By law, assuming the trust became irrevocable when your mom passed away, your sister has a legal obligation to provide a copy of the trust upon request. From all you said, you should seek immediately legal counsel and file a petition with the court for a complete accounting and perhaps, removal of your...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  6. As the wife of a beneficiary of his Moms trust estate, if the trust is transferred into an llc -what happens if my husband die

    Answered about 2 years ago.

    1. Steven Matlin Greenwood
    2. Joseph Bernard Mchugh Jr
    3. Eric Jerome Gold
    3 lawyer answers

    I'm a little confused by your question where you state "...if the trust is transferred into an llc." What is more likely is that the real estate (not the trust) will be transferred to the llc. Assuming this is the case, and your husband becomes a co-member of the llc, upon his passing his membership interest will likely flow in accordance with his will or living trust. Successor trustee duties are too numerous to detail here but there is a fiduciary duty owed by the successor trustee to...

    Selected as best answer

  7. Can i fill out "community property with right of survivorship" documents?

    Answered almost 2 years ago.

    1. Steven Matlin Greenwood
    2. Craig Martin Scalise
    3. James P. Frederick
    3 lawyer answers

    The lack of facts provided leaves a lot of possible ambiguity but to answer the questions directly, YES, you can prepare the document itself assuming you have the knowledge on how to do so. Forms are readily available on the internet. The problem is knowing which type of deed to use, making sure the deed is properly prepared and recorded. Breaking the current form of tenancy MAY be an issue, avoidance of documentary transfer tax or unnecessary reassessment should also be considered....

    5 lawyers agreed with this answer

  8. Deceased father resigned from Trust prior to his death. Sister & I are trustees. Have filed new EIN#. How do we close Trust?

    Answered about 2 years ago.

    1. Steven Matlin Greenwood
    2. Eric Jerome Gold
    3. James P. Frederick
    3 lawyer answers

    There are a number of formalities that must be followed to assure the transfer of wealth and subsequent closure of a trust. The fact that you have seen an attorney on the matter and remained confused is not surprising. I suggest you seek legal counsel specializing is trust administration to assure you are properly moving forward on this matter. One wrong move could create trustee liability for losses; this could prove very costly. Good luck.

    5 lawyers agreed with this answer

  9. In 1998 California, house deed was dad and daughter, tenants in common. Was changed to 50% of dad's portion to a living trust.

    Answered over 2 years ago.

    1. Steven Matlin Greenwood
    2. Amanda Lisa Sinclair
    3. Lee Leonard Kaster
    3 lawyer answers

    Tenancy in common is the default property designation in the state of California. The transfer of dad's 50% to his living trust would not alter this designation UNLESS the new deed on it's face created a different designation. Not having been given the specific titling of the property under the new deed I cannot say for certain what the current designation is, but I think you get the basics to determine the answer to your question. Hope this helps.

    5 lawyers agreed with this answer

  10. Can you define what a share is in a living trust

    Answered over 2 years ago.

    1. Steven Matlin Greenwood
    2. Pamela Janet Ross
    2 lawyer answers

    Though a "share" may be defined differently in the body of the trust in question, a share is usually defined as a beneficiaries' portion of the trust assets upon distribution. What that share amounts to in the way of property or cash is normally spelled out in the trust agreement. Thus it is the trust agreement that will define what a "share" is comprised of. I hope that helps.

    5 lawyers agreed with this answer