Bought a car with the couple name on title and trust. Went to register it and didnt have a copy of the trust. The guy at the tag office said it might go through without trust since they didnt have a copy of the trust when they titled it in their n...
If the title is in the name of an individual, NOT a trust, then perhaps a copy of the death certificate will be sufficient.See question
I think I read that you can make that election but can't change it back. Do they both remain that way until the final distribution to the beneficiaries, just one tax return?
A probate estate requires its own tax ID number; a trust that becomes irrevocable at death requires its own tax ID number. Each are separate taxable entities, although tax returns might not be required if income is less than the filing threshold. I suggest in any trust administration that you seek an attorney and a CPA for guidance.See question
It is for my dad,(he has dimentia).or can my dad asign someone else to be power of attorney.
No, only your father can assign a Power of Attorney, and with dementia, his competency should be determined first.See question
i am selling a piece of property, that i inherited, for 62,500 the closing attorney has told me he has to a 1099 , do i have to claim it on my taxes, which at this time im not working so i dont do taxes, so i need to know how to handle this
It depends. When an heir sells an inherited house, he has to pay capital gains tax on the profits, if any. The usual process for calculating capital gains is to subtract the market value of the home at the time it was inherited from the sale value. The heir can subtract costs such as the agent's commission from the sale amount; if the adjusted amount is less than the house was worth when it was inherited, the heir may be able to claim a tax loss.See question
My father died February 26, 2013. His brokerage account was registered in the name of his revocable living trust for which he was sole trustee. I am the personal rep of the estate, the sole successor trustee of the trust, and sole beneficiary. Bet...
You really should see an accountant, who can determine which returns need to be whether they should be filed under his social security number or if there needs to be a separate Estate or Trust Tax ID number established. It's money well-spent.See question
Have made numerous attempts to contact this person for him to claim his inheritance , with no success. Have been searching for him for over eight months. How long can this money be left in the estate bank account? Then what do I do with it after t...
Check with your local Probate Court to see if they have a procedure (like my state has) in which you can place his inheritance in a bank account, and record that account with the Probate Court, so that if he comes looking for it, it's on record.See question
In 1986 my father passed from this life. He had married a second time to the woman who was his wife at time of death. She & I do not talk to each other. I know that she got my father to change his will making her sole heir of everything that was h...
The probate Court might not have a Will on file for your father, but did you ask if they had ANY Probate file at all? It's possible that there was no Will entered into Probate.See question
We have a financial dispute with a Nursing Home who is threaten to call Protective Services. We have complained to the State and they do nothing. Any advice. They bill for services we do not have and do not provide services we pay for. This on...
Contact your local elder services agency (in Essex County, it's N.S. Elder Services in Danvers) and tell them an elder is in need of protection.See question
my mother died and I was on her lease and someone other then myself removed me and my siblings with a letter not written by my self or my mother what can I do.
You should contact the housing authority immediately, and see if they can assist you, and at least provide the rationale and perhaps a solution, since this must occur often enough that they would have a protocol. best of luck to you and your siblings.See question
there is somebody wanting to see everything before there is an executor appointed my sister is contesting the will
Unless you have the will accessible to you, then usually the answer is "no." However, if a Will exists, the person having it must (in my state) present it to the court, whether or not that person is the named Executor. And financial institutions wouldn't be divulging assets of a decedent to anyone but the joint owner, beneficiary of an account, or the representative (executor) of the estate.See question