Can I, or do I have Report income from a Schedule K-1 form 1041 even if I don’t have a w-2?

The Schedule K-1 reflects the amount and type of income you have to report. If that income exceeds your filing threshold for the year it must be...

Before I hire an attorney to help me, will I be able to donate my home to a 501(c)3 of which I am the President?

That will not work. The lien stays with the house, so they can enforce it against the charity.

How do we start process on an established family trust when I am the power of attorney to someone who has just pasted away?

Powers of Attorney become void when the principal (the one who signed it) passes away. You should consult with an attorney, who can review the...

I need to sell my property and be able to have a life estate on the property. do you have any investors that would do this?

If you are no longer able to make the mortgage payments, perhaps a reverse mortgage would be a viable alternative to trying to sell and reserve a...

How would probate estate attorneys get decedent's bank accounts etc. transferred, don't they need Administrator's signatures?

The administrators can arrange for the transfers themselves, but an attorney is needed for the estate proceeding.

Can I transfer my inheritance to my son and I never take it?

I'm licensed in Florida. Under the terms of the trust, if your son would get your share if you are deceased, you can file a disclaimer within 9...

When a homeowner dies, does the contract between themselves and the bank end, and family has to take out new mortgage?

Under the federal Garn-St. Germain Act, immediate family members are not required to refinance when they receive real property at a relative's...

Trustee services

There are many such trust companies, but the bigger issue may be the minimum trust values/ minimum fees. In NC you can try Old North State Trust -...

An LLC is probably the best entity to use. LLCs can be taxed in a few different ways, depending on what you elect. The default for a multi-member...

How much can I give to each adult child with our paying tax.?

Beyond the $14,000 per son per year, you have a $5.49 million gift and estate exemption. To the extent the gift to any one person exceeds $14,000...