Neal Michael Rimer’s Answers

Neal Michael Rimer

Van Nuys Estate Planning Attorney.

Contributor Level 8
  1. Would it be appropriate to give a court appointed trustee/conservator information about a conservatee's financial information?

    Answered over 1 year ago.

    1. Neal Michael Rimer
    1 lawyer answer

    Yes. Assuming that the conservatorship is both over the person and the estate, then the conservator's obligation is to round up all the assets; inventory them to the court; obtain their valuations; collect all income and pay all expenses; and then render an accounting to the court. Your assistance in helping the conservator find all the assets would be a good thing.

    6 lawyers agreed with this answer

  2. What can I put into a settlement and release agreement?

    Answered over 2 years ago.

    1. Neal Michael Rimer
    2. Christine C McCall
    3. Kevin Samuel Sullivan
    4. Gregory Christopher Poulos
    4 lawyer answers

    You can negotiate and put anything into a contract that is lawful. The key to making a change in value clause enforceable is to make sure that the methodology and terms are clear, concise and specify exactly how the change in value is determined and how it is to be paid. You mention the term "compensation" instead of consideration. If you are structuring the price for the shares and part of the "package" is compensation, ie., wages of some type, then a change in the value of the shares is...

    4 lawyers agreed with this answer

  3. Beneficiary is living out of the country. can he give power of attorney to anyone to represent him and collect his distribution

    Answered over 1 year ago.

    1. Neal Michael Rimer
    2. Eric Jerome Gold
    3. Joseph Franklin Pippen Jr.
    3 lawyer answers

    You son can use a special power of attorney to accomplish an agent obtaining his funds. When a Trust becomes irrevocable, like on the death of the "owner," it is the Trustee's obligation to give a notice within 60 days. Also, an accounting is required by the Trustee. The probate code in California prohibits the requirement of a release to obtain payment.

    3 lawyers agreed with this answer

    1 person marked this answer as helpful

  4. My loan foreclosed non-judicially in California, can the lender still come after me for the remainder of the loan?

    Answered over 3 years ago.

    1. Neal Michael Rimer
    2. Frank Wei-Hong Chen
    3. Richard Alan Rodgers
    4. Bernard James Conway
    4 lawyer answers

    No. When the lender decides to use a non-judicial foreclosure in California, there is no further liability by the borrower after the foreclosure is completed.

    Selected as best answer

  5. Does a court appointed trustee/conservator have the legal right to transfer property?

    Answered over 1 year ago.

    1. Rosemary Jane Meagher-Leonard
    2. Neal Michael Rimer
    3. Thomas Anthony Schaeffer
    3 lawyer answers

    Sure. It is appropriate in a conservatorship for the conservator to be the owner. The conservator must comply with the authority granted by the court. It is likely that to sell or transfer real property the court must issue an order allowing the conservator to sell or transfer that particular parcel and would also have to give the court the reason why the conservator believes that it is in the best interest of the Conservatee to get the court to approve.

    3 lawyers agreed with this answer

  6. 2nd Mortgage holder collection notice.

    Answered over 2 years ago.

    1. Neal Michael Rimer
    1 lawyer answer

    If the holder of the 2nd mortgage was the person who foreclosed on the property and it was a non-judicial foreclosure, then you do not owe the new holder of the 2nd mortgage any money. If the holder of the 1st mortgage did the foreclosing, then the holder of the 2nd mortgage just holds a promissory note, which they can sue to collect. There is a statute of limitations on the collection of promissory notes. It might be coming toward the end and that is why you got the collection notice....

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  7. Just finished remod. the second , this week will remod. the first, planning a short sale in few months , advise

    Answered over 1 year ago.

    1. Eric Jerome Gold
    2. Neal Michael Rimer
    2 lawyer answers

    If you have the income and desire to live in the house, then after many years of paying the mortgage, the principal balance will be much less. Also, if you believe that in your area, there will be appreciation in value of the residences, including yours, then holding onto the house will eventually result in equity. If you cannot afford to live there due to your income, then a short sale may be appropriate in your circumstances.

    1 lawyer agreed with this answer

  8. Do I have the right to see actual bank statements after ther death of my Dad, handled by stepmother

    Answered over 3 years ago.

    1. Neal Michael Rimer
    2. Chris Gray
    3. Brian C. Snell
    3 lawyer answers

    If you are a beneficiary of the Trust (you should have received a notice that the Trust became irrevocable and should have been given the right to request a copy of the Trust and other estate plan documents), then you have a right to an annual accounting. The probate code in California describes the accounting that is required. It does not seem that your Step-Mother has provided the proper accounting to you. Perhaps you did not get the required notice either. You should consult an...

    1 person marked this answer as helpful

  9. When an executor is finished distributing the assets of a Living Trust, does he then have to close it officially in a court? Is

    Answered over 3 years ago.

    1. Thomas Edward Rossmeissl
    2. Neal Michael Rimer
    3. Jeremy Johnson
    3 lawyer answers

    There is no requirement for a trustee of a living trust to file anything with a court. The trustee MAY file an accounting with the court and get court approval of that accounting. There is the obligation of the trustee to keep the beneficiaries informed of actions or transactions within a trust. If a beneficiary objects or fails to receive an accounting, the beneficiary may file an action with the court to obtain an accounting. The trustee is a fiduciary and must act reasonably under...

    1 person marked this answer as helpful

  10. Can a successor trustee of a revocable trust act before he is sworn under oath to be trustee?

    Answered almost 3 years ago.

    1. Neal Michael Rimer
    2. Steven Matlin Greenwood
    3. Steven J. Fromm
    3 lawyer answers

    There is no "sworn under oath" after a Trustee dies and their successor Trustee takes over. I usually create an acceptance for the successor Trustee to execute to indicate that they are then in control, as Trustee, and agree to perform their responsibility pursuant to the terms and conditions of the declaration of trust. This acceptance is not a legal requirement for the successor Trustee to be in power. Only the events identified in the declaration of trust are relevant. The trusts...