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Richard Albert Luthmann
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Richard Luthmann’s Answers

492 total


  • My wife and I are currently LPR, we live abroad and don't earn any income in the US, do we have to fill taxes for 2014?

    we only have a savings account that gives us 0.02 interest monthly.

    Richard’s Answer

    If you have a US Passport, it is advisable to file a US tax return, even if you have a credit in the jurisdiction where you live and would owe no US tax. Additionally, you may be obligated to file a return if you have a foreign bank account. Talk to a tax lawyer versed in this area of the law.

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  • What to do when there is a judgment but no payment mentioned on my credit report?

    I was in housing court, got a stipulation which i fulfilled. But it left me with a judgment placed on my credit report. The debt was paid according to the stipulation. but what I do now to have it at least show that I satisfied the judgment? ...

    Richard’s Answer

    Send a debt validation letter under the Fair Credit Reporting Act and attach the copy of the satisfaction. If the false report is not removed within thirty days, threaten legal action under the FCRA. There is a strict liability of $1,000 per report plus attorneys' fees under the statute.

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  • We have a family trust in the US but all the beneficiaries live abroad. We have found that wire transfers can get stuck in

    unknown intermediary banks along the way. The recipient bank is no help but they charge a big commission anyway. Is there a more secure way than a wire transfer (preferably quicker and less expensive as well) for a trustee to send large amounts ...

    Richard’s Answer

    This is a FATCA issue that can avoided with some transactional structuring. My offices handle this type of work on a regular basis.

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  • LLC vs Trust with capital gains

    I am thinking of putting an investment portfolio into either an LLC or a Trust as I would like to have control over how it is given a family member after I would die. My concern are really tax related, are there any specific benefits of not using ...

    Richard’s Answer

    Call a tax lawyer right away. An intentionally defective grantor trust and a single member LLC will both be disregarded and taxed to you. Other formulations may have a different tax result. You must do a full analysis before you make a decision.

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  • How can I find the trust my grandmother left me when she passed away in 2003?

    My great grandmother lived in Newark, NJ (Essex County) when she passed away in the year 2003. I was left in the will in a trust fund since I was only 15 years old at the time and my (distant)cousin was the executor of the will. After she passed a...

    Richard’s Answer

    Hire a lawyer to check the court records of here estate. Track down her estate planning and estate administration attorneys. There are several possible leads.

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  • Can a house be sold while it is in a irrevocable trust?

    Hello, I am the life estate trustee for my mother's home. Her home is in a trust. She is the heir of my father's half. My sibling and I are beneficiaries when my mom passes away. Can a home be sold while it is in a trust? Does the trust need to b...

    Richard’s Answer

    A house can be sold out of a trust. Bring the trust to a lawyer because trusts can be intricate and have unexpected legal and tax consequences.

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  • Sheriff left a piece of paper

    The letters TD #816 are on the paper. What is this? I came home to a small slip of paper under my door. It says my name and to call

    Richard’s Answer

    Hire a lawyer to respond to the Sheriff. Make sure you have all your documentation ready.

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  • I am 7 months late on mortgage that is only in my husband's name. He died 5 yrs. ago. I am on deed. Am I responsible legally?

    Bank says they can't talk to me as I'm not on loan. But I'm on deed. I don't want the house; I've struggled as it is. Bank sent me 4 debt collect. letters all in one mailing. I responded by requesting copy of loan which they sent me. It shows ...

    Richard’s Answer

    Hire a lawyer. The bank may accept a certficate of death or the bank may require you to probate/administer his estate so you have authority to deal with them.

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  • Referee Appointed in my foreclosure case?

    I have a pending foreclosure on a house which isn't my primary residence. It was intended as a summer house, but has since fallen into severe disrepair. I had taken out a Mortgage with WaMu in 2007. 06/13/2013 Bank of America files LP and serve...

    Richard’s Answer

    You should hire a lawyer and fight the Motion for Summary Judgment that they never served you with...You have no legal leg to stand on unless you do that.

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  • In a foreclosure setting, I said that I would accept certain Loan Mod proposal. But I dont know the exact details yet, tricky?

    I said to court that I would accept certain Loan Mod proposal, but what happens if the loan Mod have details that I already told my lawyers ( before the foreclosure conference), that specific details I wont accept it? I said that to my l...

    Richard’s Answer

    • Selected as best answer

    You have not entered into the Modification Agreement until you sign it and in many cases pay the first three months of payments. You can tell the Court that the terms you thought you were accepting were not the same as the bank presented.

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