When I file an Estate Tax Return with New York State, must I include the residence in the list of assets (gross estate)?

I'm sorry for you loss. Because your father retained lifetime rights to the home, its full value must be included on the estate tax return. You...

You will need to have a deed prepared for each property (or perhaps one deed per county, if there are multiple properties in each county). ...

Who would inherit the remainder of the IRA account in this case?

It should go to the estate of the first beneficiary, and it would be a probate asset. However, the IRA custodial agreement should be reviewed to...

How do I distribute the assets from an irrevocable trust and close the trust itself?

If the trust provides for outright distribution, the assets should simply be distributed to the three of you and the trust accounts closed. ...

Is it possible for my son to change his successor?

You can also name a Trust Protector, who would have the power to name a successor trustee.

Can I make someone a member of my LLC without giving them any ownership?

No, a member is an owner. Someone can be manager without being a member, however. If you want to limit a member's control over the LLC, the...

Can you deduct a loss being it was a gift.

With a gift, the cost basis you acquire is the lower of the basis in the hands of the donor (usually purchase price) or the fair market value at...

Can I transfer my home to my grandson who is 8 years old through a life estate?

You can transfer the home to your grandson and retain a life estate for yourself, but in my opinion it would be a mistake to do so. For one thing,...

Is the IRS taxing on what the IRA made since death? Can I be held accountable for difference? Is there a way to take RMDs?

There is not enough information in your question for an advisor to provide a complete answer. I recommend consulting with an attorney with...

Can you help me make an addendum to my separate property trust.

That would require an amendment to your trust to replace your ex-wife as trustee. You also may need to replace her as personal representative...