Archived
Person is beneficiary of special needs trust. can beneficiary be sued to get something bought by the trust?
John's answer
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Answered on April 01, 2020
If I understand the question, my answer would be know. One of the purposes of a Trust is to hold assets for the benefit of someone so that they...
Archived
WILL leaves 1/3 estate to a grandkid “if one” Does decedent’s son-in-law’s child from previous divorced wife qualify for estate?
John's answer
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Answered on April 01, 2020
No. Heirs are blood-line, (or adopted children) not step children.
Archived
Does an administrator need to be appointed to collect a mutual fund account that was recently discovered years after probate ?
John's answer
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Answered on April 01, 2020
If this is not with the unclaimed funds of NY, then you would seek to be named the administrator of the estate in order to claim the asset. A...
Archived
Can a home in a trust be rented out by successor trustee if trustee and grantor has passed away
John's answer
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Answered on April 01, 2020
I agree. Ask an attorney who deals with trusts to review the Trust.
Archived
Will Medicaid in New York take all assets after the death of both parents, including those they didn't count in order to qualify
John's answer
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Answered on March 11, 2020
There are many ways to preserve assets, even at this late stage. When applying for Medicaid, the applicant must also apply for Veterans' Benefits....
Virginia: Are the Trustee and Executor obligated to give financial accounting reports to beneficiaries? How often?
John's answer
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Answered on February 06, 2020
This is an answer that will be found in your states statutes for Trusts and estates, but in general, the answer is that fiduciaries usually have to...
Archived
Is it possible that stocks received from a trust could get a stepped up cost basis?
John's answer
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Answered on February 06, 2020
The answer will wholly lie in the structure of the trust. You should find a Trust attorney and/or a tax accountant to review this with you.
Archived
What do I have to do to my existing Will if I want to set up a TRUST
John's answer
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Answered on February 06, 2020
Most of the time a new, "pour-over" will is executed with a Trust. You should always have a will, even if you have a trust. This will handle any...
Archived
Is there a statue of limitations on how long you have to put your name on the deed of a house in New York?
John's answer
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Answered on January 31, 2020
You need to have an attorney look at the deed.
Were you and your mother:
A) joint tenants, with right of survivorship (trumps the Will)
B)...
Archived
If a deceased had a joint checking account, is that person obligated to pay her debt?
John's answer
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Answered on January 31, 2020
Without knowing more, the general answer is no. Creditors may pursue the estate assets of the decedent. This account is not an estate asset.
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