If my trust is being dissolved and I am getting a portion (using present value calculations) will I be taxed?

There are no income taxes associated with a distribution of principle from a trust. You will be responsible for paying taxes on the income that...

Power of Attorney

Yes, your husband can execute a power of attorney provided he understands what he is executing and wishes to do so. He can make his mark on the...

Can my step father hold me accountable for past mortgage payments if I wasn't informed that I inherited land through intestacy?

Who told you that you inherited nothing? Your step-father? Did he attempt to conceal your inheritance from you? Joint owners of a property are...

Can my Mom's will be changed

A will is a document which governs the disposition of assets after one's death. While your mother had capacity, she herself could revoke or change...

My mothers will states her grandchildren receive $5K, and the balance is divided amoung her three children. There is only 15K

You are correct. After expenses are paid, specific bequests are paid out, in this case $5,000 to each grandchild. Expenses include probate filing...

I believe you are thinking of a funeral contract, which is a non-countable asset for Medicaid. You would purchase this through a funeral director....

Am I the owner of property in a supplemental needs trust?

No, you can't ignore the association's threats. You are the Trustee of the trust. The Association won't come after you personally, but as Trustee...

Inherited liquid funds from my mother must I protect it and keep it separately and what documentation do I need

Why must you protect the funds? There is no reason to keep the funds in what your mother had them if that is not what you want. In order to avoid...

My sister & brother in law have never claimed their earnings.

Will your sister be audited from an income tax perspective because she has inherited the home? No absolutely not. Is your mother's gross taxable...

Issue in QPRT Trust

You can have your step-daughter be the beneficiary of your QPRT if you wish. However, due to the low interest rate environment, you may wish to...