Steven Matlin Greenwood’s Answers

Steven Matlin Greenwood

Thousand Oaks Estate Planning Attorney.

Contributor Level 12
  1. Where can I find the laws or rules with regards to AB trusts?

    Answered over 2 years ago.

    1. Robert Paul Bergman
    2. Steven Matlin Greenwood
    3. Brian Coleman Kelly
    3 lawyer answers

    The answer to your question lies not in any specific law or rule, but in the trust document itself. The decedant's sub-trust (aka Bypass Trust or B Trust) will normally have a specific section of the trust document that addresses the issue you raise. Look carefully at that section and be guided by the language you find there. A trust is essentially a contract and it's terms set the basis for the trust arrangement and subsequent administration. I suggest you seek legal counsel for proper...

    4 lawyers agreed with this answer

  2. REALESTATE-TITLE ? ? ? Asset protection.

    Answered over 2 years ago.

    1. Michael Charles Doland
    2. Steven Matlin Greenwood
    3. Frank Wei-Hong Chen
    4. Sharon Leslee Crommett
    5. Michael John Harrington
    5 lawyer answers

    Prior counsel's responses should give you the sense that the actions suggested are not a good idea, and I totally agree, But I think it is worse than that. Placing a lien on your mother's home without commensurate consideration, i.e. actually be loaned money that the lien would be used to secure repayment, is arguably a form of constructive fraud against creditors which if willful, could generate real problems if you were sued, i.e. though not a slam dunk, fraud is one tort that can, and...

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  3. I ASKED FOR MY OWN ATTORNEY

    Answered over 2 years ago.

    1. Steven Matlin Greenwood
    2. Frank Wei-Hong Chen
    3. L Christopher Arvin
    3 lawyer answers

    Though attorney Chen is correct, there isn't sufficient information to answer your question, there are several general rules. The trust you referenced, if created by a private trustor for the benefit of benecificiaries, intially being revocable, become irrevocable upon the passing of the trustor(s), either in whole or in part. As such, it becomes a binding agreement (contract) which functions by its specific terms. Without a specific term providing for the payment of a beneficiaries legal...

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  4. Can a surviving grantor amend an irrevocable trust with approval from all beneficiaries under CA Probate Code Section 15404?

    Answered over 1 year ago.

    1. Christopher N Schneider
    2. Steven Matlin Greenwood
    3. Helene Patrice-Dreyer Koch
    3 lawyer answers

    Though I don't have an immediate answer to your question directly, I would suggest that you revisit the language relating to distributions under Trust B. It would be very normal for the trustee of that trust to pay income to the surviving spouse and and even permit principle invasion. Take a very careful look; it might be modification is not necessary. Hope that helps.

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  5. If I apply a lien against my Brother's house, if something happens to them, will it still be valid?

    Answered almost 2 years ago.

    1. Steven Matlin Greenwood
    2. Eric Jerome Gold
    2 lawyer answers

    The simplest and straight forward manner of securing the $50,000 obligation is for your brother (and any other co-owner) to prepare and sign a deed of trust in your favor upon the property in question. This will assure that you will retain a security interest upon the real estate no matter who or when anyone passes away. The short answer to your question: YES, the lien will remain valid if "...something happens to them..." I suggest you seek legal counsel to assure the lien is properly...

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  6. I am a beneficiary of a trust in California and one of the instructions is to create another trust from it for me

    Answered 8 months ago.

    1. Steven Matlin Greenwood
    2. Michael Leo Potter
    3. Ruth Elaine McMahon
    3 lawyer answers

    The attorney's response above is spot on. That being said, if there is a tax due on the assets that were left to you, the tax should be paid prior to the funding of the trust created for you, eliminating the tax issue thereby. The tax could take the form of an estate tax, income in respect of a decedent (IRD), a capital gain tax, etc. This is why it is so important that the successor trustee find competent legal counsel to guide him or her regarding what must be done. Hope this helps.

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  7. What is a 1040 ein and why won't the Trustee give it up?

    Answered about 1 year ago.

    1. Steven Matlin Greenwood
    2. Michael Leo Potter
    3. Alex Ross Borden
    3 lawyer answers

    Though one could argue whether you have a right to see the IRR trust 1040, your trustee is almost always obligated to file an annual tax return and provide you with a IRS form K-1, showing the taxable income received by you along with other relevant information (including the trust Tax ID#. If you haven't received a K-1. I would inquire of the trustee as to whether a tax return was filed (or is going to be filed) or not. If not, perhaps you can ask why not. Hopefully you have a good...

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  8. Can the same atty handling Conservatorship also represent heirs in the Revocable Living Trust after death of conservatee?

    Answered over 1 year ago.

    1. Michael Raymond Daymude
    2. Steven Matlin Greenwood
    3. Robert Andrew Michael Burns
    4. James P. Frederick
    4 lawyer answers

    The previous answers provide a good bit of input regarding your concerns. Let me add that though the attorney DOES represent your brother solely. Assuming, however, that your brother is the trustee of the trust in question, his FIDUCIARY duties extend to all of the beneficiaries of the trust, including you. As such he can be held personally liable for any wrongdoing that damages your interest. That having been said, trust administration can take longer than one might like. The...

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  9. Grant deed will be recorded with right of personal occupancy for life; how is this removed after death?

    Answered over 1 year ago.

    1. Michael Robert Weinstein
    2. Michael Raymond Daymude
    3. Steven Matlin Greenwood
    3 lawyer answers

    Both answers you have received are good advice, especially in relation to seeking legal counsel. Creating a life estate has several ramifications that must be considered before you move forward. It would be "Penny Wise and Pound Foolish" to proceed down this track without fully understanding all ramifications and seeking competent legal counsel to effectuate your decisions.

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  10. What specific code in California Uniform Trust Code does limit the amount in Trust as stated below?

    Answered about 2 years ago.

    1. Steven Matlin Greenwood
    2. Benjamin Valdez Platon II
    3. Lee Leonard Kaster
    4. Robert Louis Feliciani III
    4 lawyer answers

    The material you've referenced is found in Probate Code Section 13000 et. seq. This section was just amended to raise the dollar amount to $150,000. It's a little more complicated than stated above so you'll want to review the statute in total and/or seek legal counsel. I hope this helps.

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