Questions answered by Gregory Herman-Giddens

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What are "administration expenses" when you process the will? And do you have to sell personal property to pay debts off

Gregory's answer | Answered on August 12, 2013

Administration expenses are court fees, attorneys fees, accountants fees, personal representative commissions and similar expenses. If there is...

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My father wants to transfer ownership of his property to me. What needs to be done?

Gregory's answer | Answered on August 12, 2013

Your father should consult with an attorney who can advise him on the tax and other legal consequences of transferring the property. There are a...

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Wills and trusts

Gregory's answer | Answered on August 07, 2013

It's unclear as to exactly what type of matter you are referring. If you are talking about preparation of a will and trust, then the documents...

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Can I get in trouble for reporting a lower sales price than what I really sold my boat for?

Gregory's answer | Answered on August 07, 2013

You only have to report the sale for tax purposes if the $30,000 is more than you paid to purchase the boat, motor and trailer. If that's the...

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My Aunt wrote a trust in Florida, her state of residence. She died several years ago. No beneficiaries live in Florida.

Gregory's answer | Answered on August 05, 2013

I would recommend hiring a Florida trust attorney to contact the trustee to demand a current accounting and distribution.

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What is the criteria for having a trust along with a will. The attorney that did my will said i did not need a trust.

Gregory's answer | Answered on August 05, 2013

Wills do not avoid probate. IRAs do not go through probate if there are designated beneficiaries, but the other assets would at the second death...

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What possible sources would come after my settlement money if I decide not to put into a SNT.

Gregory's answer | Answered on August 01, 2013

A Special Needs Trust does not protect money from taxes, but does prevent the funds from being considered available for SSI eligibility. If you...

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I am new to the area and need estate planning. One initial concern that I have is adding my daughter to my home.

Gregory's answer | Answered on July 30, 2013

If your daughter ever has outright ownership of the home it will be vulnerable to her current and future creditors, unless she is able to live in...

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Trying to decide to either do a Revocable Trust or Will with two Trusts (assume -testamentary trusts) included.

Gregory's answer | Answered on July 29, 2013

Co-ops can often be placed in trust, and bank and investment accounts can as well. Transferring these assets during life means that no probate...

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If I can know why a trustee resigned?

Gregory's answer | Answered on July 29, 2013

Estates have executors or administrators (personal representatives) rather than trustees, which only serve with regard to a trust. Typically...

Gregory Herman-Giddens's Answers (697)

What are "administration expenses" when you process the will? And do you have to sell personal property to pay debts off

My father wants to transfer ownership of his property to me. What needs to be done?

Wills and trusts

Can I get in trouble for reporting a lower sales price than what I really sold my boat for?

My Aunt wrote a trust in Florida, her state of residence. She died several years ago. No beneficiaries live in Florida.

What is the criteria for having a trust along with a will. The attorney that did my will said i did not need a trust.

What possible sources would come after my settlement money if I decide not to put into a SNT.

I am new to the area and need estate planning. One initial concern that I have is adding my daughter to my home.

Trying to decide to either do a Revocable Trust or Will with two Trusts (assume -testamentary trusts) included.

If I can know why a trustee resigned?