Matthew Erik Johnson’s Answers

Matthew Erik Johnson

Seattle Business Attorney.

Contributor Level 17
  1. My mother financed a car under her name for my daughter because she had bad credit and couldn't finance her own car.

    Answered almost 2 years ago.

    1. Matthew Erik Johnson
    2. Kevin Mark Jones
    3. James P. Frederick
    3 lawyer answers

    The easiest way would be to name the daughter on the title as a designated beneficiary. Most states allow you to name a beneficiary on cars, so check to make sure you can do so in Texas. Otherwise, you can and should have your mother create an estate plan naming your daughter as the heir to receive the car upon her death. Estate plans are good for many many other reasons, so regardless of how you handle this particular situation, looking into a Last Will is a good thing.

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  2. How much can my mother legally gift to my brother and myself each year?

    Answered almost 2 years ago.

    1. Matthew Erik Johnson
    2. Paula Brown Sinclair
    3. James P. Frederick
    3 lawyer answers

    She can give up to $13,000 (total) per year tax free. She can give any amount she wishes, but gifts above $13,000 a year will be taxed at the estate tax rate. 45% I believe. Her unified gift credit will also be a factor. As of this year, each individual has a little over $5.1 million dollar unified credit which applies to both lifetime gifts, and after death estate gifts. Once your mother goes over the 5.1 million threshold, she will be taxed at the applicable estate tax rate regardless of...

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  3. What right do u have after a relative passes? /

    Answered 7 months ago.

    1. E. Alexandra Golden
    2. Matthew Erik Johnson
    3. Joseph Franklin Pippen Jr.
    3 lawyer answers

    That will depend on two things 1. If there is a will, then the property will be distributed via the will. 2. If there is no will, property will be distributed under your state's intestate succession laws, which provide the default provisions for how property is inherited. Generally, a spouse will take some or all, and then children. If there are no children and no surviving spouse, then siblings will receive a share. Uncles are further down the line after surviving parents. Go see a...

    6 lawyers agreed with this answer

  4. Why is the attorney saying probate can not close unless my husband refinances the home in probate

    Answered about 1 year ago.

    1. Matthew Erik Johnson
    2. John P Corrigan
    3. James Bunkey Swain
    3 lawyer answers

    There is a difference between a deed transfer and a loan transfer. I believe your attorney is talking about the loan transfer. Specifically, the issue is WHO is on the loan. The refinance is designed to change who is on the loan. At this point in time, it is likely the decedent. For a complete transfer, either someone must assume the lease, or the bank must provide written indication they will permit the owner to continue paying without a refinance.

    6 lawyers agreed with this answer

  5. Will a POA protect assets from going into probate?

    Answered about 1 year ago.

    1. Matthew Erik Johnson
    2. Michael Leo Potter
    3. Joseph Franklin Pippen Jr.
    4. Hollyn June Foster
    4 lawyer answers

    Very sorry for the circumstances. Many of my own friends and family have lost to cancer. As to your question, no, a POA only applies to rights of fiduciary decision-making authority during the life of the principal (the person who gave up the authority). A POA will never protect assets from going into probate by itself. At this late stage, there is likely nothing you can do. The best option would have been a revocable trust or signing an heir as beneficiary, but that likely is not...

    6 lawyers agreed with this answer

  6. How can you legally be a resident of two states? I live in MA but own property in another state.

    Answered about 1 year ago.

    1. Scott D Rosenberg
    2. Charles Adam Shultz
    3. Matthew Erik Johnson
    3 lawyer answers

    You cannot be a resident in two states due to the different tax structures that states have. You get one, and only one. Aside from that you can have more than one power of attorney, but you may not need it. A long discussion with an estate planner about your needs, family members, associates and everything that you want should be considered during a long session rather than a short blog post on Avvo.

    6 lawyers agreed with this answer

  7. Why do professional estate planners promote revocable trusts instead of wills when assets are less than 5 Million Dollars

    Answered over 1 year ago.

    1. Joseph Michael Pankowski Jr
    2. Matthew Erik Johnson
    3. Michele Ungvarsky
    4. Douglas R Holbrook
    5. Charles Adam Shultz
    6. ···
    6 lawyer answers

    It depends on your situation and the laws in New Mexico. Probate can be very expensive in some states such as California, and thus a revocable trust can bypass probate and save said probate expenses. In addition, revocable trusts can be useful for maintaining separate property between husband and wife with the addition of a marital agreement. Finally, a revocable trust can offer a wealth of control options and slippery ways to qualify for various pre-paid college accounts, hold firearms,...

    6 lawyers agreed with this answer

  8. Business Partners dispute

    Answered over 1 year ago.

    1. Michael Thomas Stanczyk
    2. Richard E Weltman
    3. Matthew Erik Johnson
    4. Frank Anthony Natoli
    5. John P Corrigan
    5 lawyer answers

    You may have a lawsuit it sounds like. You at minimum have enough to warrant a sit down with a business litigator in order to comb over the facts in more detail. The rules for winding up a business are strict, and must be complied with. Draining funds from a business is potentially both criminal and civil liability. The amount in controversy will dictate whether you can file in small claims or another court.

    6 lawyers agreed with this answer

  9. Can I still win my disabillity benefits if I go over the SGA amount by $2500

    Answered over 1 year ago.

    1. Matthew Erik Johnson
    2. Clifford Michael Farrell
    3. Clint Curtis
    4. Ingrid Arnalda Morfa
    4 lawyer answers

    Social Security looks at whether the individual applying for benefits is engaged in substantial gainful activity. SGA is currently defined as earning the equivalent of $1,040 per month for pay or for profit. If an individual is at or above the SGA allowable amount, they cannot receive either disability benefits or supplemental security income. It is important to note however that the SGA allowable amount is for “pay or profit”, meaning that any unearned income such as welfare, food stamps,...

    6 lawyers agreed with this answer

  10. What kind of lawyer do I need? The executor of my mother's estate (my brother) has taken money from her estate that was not his

    Answered over 1 year ago.

    1. Matthew Erik Johnson
    2. Jayson Lutzky
    3. Eric Edward Rothstein
    4. James D. Kiley
    5. David Majors
    6. ···
    6 lawyer answers

    You'll want to find a probate attorney to explore the facts. Removing a representative is very fact specific, and you may also have a civil claim against him which can be explored.

    6 lawyers agreed with this answer