Does deeding a property contained in a will to someone before the will is activated eliminate the property from the will?

Yes. If the property is transferred during life the will is not effective as to that property.

Is it better tax wise to have a family trust for all accounts including IRAs, and property, or to name individual beneficiaries.

Your question cannot be answered fully without more information, but in general trusts make things more complicated (and sometimes more expensive)...

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Tax filing for a trust

If an executor/trustee makes an election under Section 645 of the Internal Revenue Code, a 1041 for a revocable trust can be filed on a fiscal...

How can we file tax returns for an S Corp when one of the shareholders has Alzheimer's and is not being cooperative?

Shareholders are not required to sign the tax returns - just an officer. Why do you need the shareholder's cooperation?

How is a trust set up

You should consult with a trust and estate attorney to determine what type trust makes sense, which to some degree will depend on the amount of...

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Transferring real property to a family member does not trigger capital gains tax. However, doing so will eliminate the advantage of receiving a...

Mother in nursing home on Medicaide. Gave me home in 1995 but kept life time estate, with warranty deed. Can. I sell home?

If the power of attorney gives you authority to sell, you can legally sell the property. However, the amount of the sales proceeds that equals the...

Can I carry forward a tax deduction to next year.

Unfortunately, the answer is no. Only unused charitable deductions may be carried forward.

Which is better irrevocable trust or revocable trust?

Only an irrevocable trust can shield your assets against spend down for Medicaid eligibility, but as Mr. Pippen stated, there is a five year look...

My mother made a will when she was of sound mind then when she became ill her husband and son put everything of hers in a Trust.

Often a new "pour-over" will is prepared when someone establishes a trust during his or her life. If this was not done in this case, the old will...