my boyfriend of 34 yrs named me in his trust (a loooong time ago) to receive all properties we obtained together. he suffered a major stroke 4 yrs ago and had to finally be institutionalized this last july. prior to that caregivers and I were the...
Based on the information you provided, you have a very good case to have the trust set aside and your rights enforced. Go see an attorney immediately.See question
My spouse cashed in a retirement account after we physically separated, keeping me from having my portion rolled over tax free, and the attorney for my spouse is trying to make me responsible for half of the taxes owed as part of our divorce settl...
The tax answer depends on what kind of retirement account was cashed in. Most qualified pension and profit sharing plans will not allow a cash out without the spouse's written consent. If you did not sign a consent, it may have been an illegal withdrawal.
I am not sure what you mean by "my portion". Unless the retirement account was earned while you were living in a community property state like Washington or California, it is owned by the company and held for the beneficiaries. Usually the spouse is only a contingent beneficiary.
From an income tax standpoint, the income attributable to the early withdrawal is the employee's income.
I do not do divorces. I think the attorneys are speaking in legal shorthand. For purposes of the marriage settlement, it may makes sense to treat the income "as if" it had been done properly.
My parents have a Living Trust, written up in 1991. Our mother recently died. Our father is now living with me (daughter), and has difficulty communicating due to a stroke.
We recommend that the living trust be reviewed every 5 years. Sooner if there is a major change in the financial resources either up or down or a change in the family or other beneficiaries.See question
My brother is the executor of our grandma's will there are 5 kids named to receive stocks.They can receive them when they are where are 18 and he has up until they're 25 years old to distribute them. 3 of my kids have received them at 18. some rea...
I agree with my colleagues. Probably the delay in distribution to your children in based on a trust. The current income beneficiary is entitled to a copy of the trust agreement. Once you get that, see what obligations the trustee has.See question
Reunited now but concerned about my legal rights if something were to happen to him. He has an ex-wife and 3 kids who might try to get the equity. He has no will.
I agree with my colleague. You may also want to use a living trust to make an fully functioning estate plan. but, so not wait. Move quickly.See question
if you own a car will they take it ?
Whether you will lose your car in bankruptcy depends on the chapter bankruptcy you pursue and whether there is a secured debt against the car. In a typical consumer bankruptcy with a Chapter 13 plan you would not usually lose your car.See question
I am purchasing a parcel of land on a land sales contract and making monthly payments. Does it have to recorded to be legal?
I agree with my colleague. I write to urge you to move quickly. Run, do not walk to an attorney. This is potentially a fraud situation. Do not give any money to this seller until you get solid answers.See question
As a part of a group of individuals and investors who will be forming an LLC and seeking two business loans (one for real estate/construction and the other for soft-costs/cash on hand) I am wondering if a life insurance policy will help or matter ...
Getting life insurance on members of a joint venture is a good idea; it is probably not required by the lender unless there is a person whose work efforts are essential to the success of the venture.
There is a thicket of tax and legal issues associated with life insurance in this situation. Be sure and get good professional independent legal advice in writing before you invest.
My brother and I are thinking of launching an e-commerce company, I am a US resident currently living in Portland, Oregon, however, but he isn't he currently lives in La Paz, Bolivia (South America). We know that an LLC allows a non-resident as a ...
Great question. There are many tax related legal issues in operating a business with a foreign partner. Especially if the non-resident is not a US citizen.
In general, income earned in Oregon will be subject to Oregon state income tax and US income tax. Depending upon the type of online business you operate you may have income in every state or only one.
If you or brother also work in the business, you will have state and federal employment taxes to deal with.
Many states have a sales and use tax. That will also be an issue.
Some products have federal or state excise taxes. e.g., oil and gas products.
We were given a gift in 2007. It is a house. It was left to us by my inlaws. My father passed away in 2009. I had taken care of him since 2006. We continued to care for my mother I law until July 1st 2015. My brother in law got my mother in law to...
It sounds like you are in a dispute over a substantial amount of money. This can be very costly. I suggest you meet with an attorney with experience in this area for an evaluation of the costs and benefits of proceeding with a lawsuit.See question