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Not clear about taxation when a revocable trust become irrevocable. When 39.6% tax for trust income > $12,150 apply.
Steven's answer
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Answered on August 04, 2015
I think you are missing one fairly large point. A revocable trust where the grantor is still living and is the grantor/trustee/beneficiary is...
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If a single person writes a will and leaves an entire estate to a friend, is that sufficient? Will it still go through probate?
Steven's answer
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Answered on August 04, 2015
You should see an attorney. Probate is the process of settling the estate (paying debts, then distribution of all assets) so be definition all...
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How do you get funds when there is no beneficiary listed, no will or executor of an estate?
Steven's answer
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Answered on August 04, 2015
Based on your description he died "intestate" which means with out a will. Therefore any assets owned only by him, subject to any debts, would go...
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If my grandpa dies and in his will it states I will get the property if my dad dies will I still get it after he dies?
Steven's answer
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Answered on August 04, 2015
You'd have to have the will reviewed to see the language but more than likely if your father survived your grandfather (which appears to be the...
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My grandmother signed a deed upon death document in 2007 and I am sure it was filed. She rewritten her will in 2014. Giving all
Steven's answer
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Answered on August 04, 2015
"Possessions" and real estate are different unless you are referring to possessions in a more general way? The deed itself has to be examined to...
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My great grandfat hers will was never read.
Steven's answer
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Answered on August 04, 2015
By "read" I assume you mean probated and the estate administered. To view the will you can start by looking at it at the local probate office...
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Upon the death of a Grantor under a Living Trust, how does one get a copy of the Trust Agreement ?
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Answered on August 03, 2015
As a beneficiary you would be entitled to a copy from the trustee. Who is the trustee? You would have to request it from the trustee and the...
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I found a building that has been empty for almost 9 years. Unpaid taxes for just as long. Built in 1900's. Abandoned, vacant.
Steven's answer
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Answered on August 03, 2015
Adverse possession is very rare to come to fruition. Also, I don't know that even if the 21 year period were to change if it would be retroactive...
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I gifted real estate to a irrevocable trust and my children are the benificiaries.
Steven's answer
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Answered on August 03, 2015
Firstly you don't say what type of trust it is, which would really be what we need to know to point you in the right direction...
If the trust...
If I put a rental property in the Revocable Trust, then how its income (rent) be taxed?
Steven's answer
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Answered on August 03, 2015
One additional point to what the other attorneys have said: It is usually a good idea to form an LLC to own your rental properties for liability...