Samuel Joseph Mamola's Answers

Executor's fee rate in New Jersey

The Executor is entitled to a fee for services performed. Under New Jersey law, the Executor of an estate is generally entitled to the following commissions: a. 6% on all estate income; b. 5% of the estate up to $200,000; c. 3.5% on excess above $200,000 up to $1,000,000; d. 2% on excess over $1,000,000 or such other percentage as the Superior Court may determine. There are different rules for commissions when there is more than one Executor, or when the Executor has rendered unusual or...

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Executor's fee rate in New Jersey

The Executor is entitled to a fee for services performed. Under New Jersey law, the Executor of an estate is generally entitled to the following commissions: a. 6% on all estate income; b. 5% of the estate up to $200,000; c. 3.5% on excess above $200,000 up to $1,000,000; d. 2% on excess over $1,000,000 or such other percentage as the Superior Court may determine. There are different rules for commissions when there is more than one Executor, or when the Executor has rendered unusual or...

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Guardianship

The question is: Can he stop the process? It depends. Here in California, the court will look at "best interest of the child." The father's history (criminal, work and personal) would certainly be taken into account. However, the safety of the child is also an important factor as well. If he petitions the court, he can surely slow down the process. Generally, the courts are good at protecting the best interest of the child. More than likely, you will end up as the Guardian, if the...

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What are my rights as an heir?

As stated earlier, it depends on the powers granted to the executor or trustee of the will or trust. I am not sure why an executor would insist upon selling or donating personal items of your aunt, without the beneficiaries' consent, especially when you have stated an interest in the items. As stated earlier, you could petition the court to stop the executor's actions, if they are improper, and if you think the items in question are of suitable value.

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Irrevocable Trust beneficiary

All beneficiaries of a trust are entitled to a copy of the trust pursuant to Probate Code Section 16061. If your adult children have not received a copy of the trust, I suggest they request one from the trustee, in writing by certified mail, return receipt requested. If you have minor children, as their guardian, you may request a copy in their behalf, again via certified mail, return receipt requested. If the trustee has bad intentions or has engaged in misconduct, it is likely you...

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Revocable and irrevocable trust

This is a very common tale. Where money is involved, family members will turn on each other, and do things they would never believe they were capable of. I am concerned how an irrevocable trust was made revocable, and changes were made to change the beneficiaries. I would suggest contacting a competent estate planning attorney right away, to review the situation and take necessary action. As the previous poster suggested, taking action while your mom is alive will be very helpful, as...

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What are my rights as an heir?

As stated earlier, it depends on the powers granted to the executor or trustee of the will or trust. I am not sure why an executor would insist upon selling or donating personal items of your aunt, without the beneficiaries' consent, especially when you have stated an interest in the items. As stated earlier, you could petition the court to stop the executor's actions, if they are improper, and if you think the items in question are of suitable value.

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Leaving Money To Support My Horses

The previous commentators are correct. California law allows the creation of a trust for the benefit of pets and animals. You should look for a full-time estate planning attorney experienced in complex trust and estate tax planning. Our office has drafted several trusts for the benefit of our clients' pets and animals. You can find more information about us at www.estateplanningsocal.com. ~Samuel Mamola, Esq.

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Trust language

A living trust will not give a trustee the power to place anyone into a care facility. If the individual is willing to be placed into the care facility, a valid and properly drafted Advance Health Care Directive would be needed to make medical and healthcare decisions on the person's behalf. If the person is unwilling to go voluntarily, or you desire to place the person into a secured care facility (i.e. an alzheimers care facility), then such action would be a deprivation of the person's...

Forced buy out s corp shares

You have quite a situation there. Often times, the majority will manipulate the books just prior to a buyout to "fleece" the other partners. Our offices are located in California, and have practiced in the area of minority shareholder rights for some time now. These issues are far to complex to be answered here. If you would like a consultation, please call my office at (800) 440-5294.

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