I am the owner of a condo in suburban Chicago, IL. I'm at the age when some serious estate planning is in order. I'm thinking that I should transfer ownership of the condo from me (as an individual) to an existing revocable trust. As I understand...
I am in an estate planning attorney and routinely transferring the condo to the trust in order to avoid probate is what we recommend. That being said I agree with the other attorneys who have answered your question in that your overall estate situation needs to be reviewed.
if the value of the condo and your other property is less than $100,000 it might not be necessary. However for purposes of this answer I am assuming that your condo is worth more than 100,000 and therefore should be put in the trust. See an estate planning attorney in your area to review your situation.See question
My great-grandfather is mentally unstable and is a under the Adult Guardianship Of Illinois, All his assets and stocks etc are taken care of by them. i am his only heir and next of kin my entire paternal family is now deceased. I only have my gre...
Actually the affidavit of heirship is different from a small estate affidavit which is used for estates under $100000.See question
and her banking , mailing bills etc. Is there a way to stop the state from taking her house if she goes on medicaide? Can she quick claim it over to me or can I pay her a small amount to be able to keep the house? The house needs alot of work a...
There is not enough information in the question you pose to give an accurate response. Any transfers by your aunt will not be allowed for purposes of Medicaid qualification if they are within five years of the time you file a Medicaid application. I strongly suggest you take your aunt and you to an estate planning attorney with elder law experience in your area.See question
I sold my van to my mechanic. He's been a family friend for decades. I left buyer area in title blank and handed it over to him. He then sold it to a different customer. 2 months later I get an expired tag ticket in the mail at an address I wasn...
I would call the police and explain what happened.See question
No employees just trying to make xtra money on my own
It depends on the local regulations and the type of business you are in. Generally speaking you do not need a business license if you're just a sole proprietor doing miscellaneous activities. I suggest you consult with a local attorney to determine the regulations in your area.See question
I moved early last year from Florida and withdrew everything out of my Wells Fargo checking account, unfortunately there was a outstanding transaction that I forgot about and the account was later closed and sent to their collections department. T...
Your question is unclear. However you are wasting your time. Change banks if you think they treated you unfairly. Unfortunately the problem began when you forgot about a transaction.See question
The civil case was against a nursing home for neglect resulting in the death of my Father. I'm on S.S. Disability for a Mental disability. I feel this lawyer told me the above statement to get more money from me to set up a Special Needs Trust.
In general, any material changes in circumstances must be reported to Medicaid . The appropriate way normally to handle judgments such as you are describing is through a special needs trust. I suggest you consult with a Medicaid and estate planning attorney at your earliest possible chance.See question
What other retirement savings accounts are better, in terms of this question?
Traditional IRA accounts are taxed at the time distributions are paid to the beneficiaries. An inherited IRA will require a distribution whether or not the original participant had reached retirement age.See question
I am heading towards foreclosure. Please what can I do?
You need to consult with an estate planning attorney. There's not enough information in the fact pattern that you laid out to answer your question. It is a much more specific problem which an attorney can guide you through.See question
i signed the contract on the 9th of December.im supposed to pick it up dec.15.
Most contracts of this type have some cancellation provision. However the specific terms of your contract will govern whether you can cancel it and what the effect will be on the deposit you have already given them. As the other attorneys stated the dealer may have causes of action against you as well. I suggest you see an attorney before you take any definite steps.See question