Trustees have a fiduciary duty to the beneficiaries of the trust, which means they must act in the best interest of the beneficiaries while...

How can i achieve irrevocable trust effects on a 401k and ira without incurring the high tax bracket of irrevocable trust ?

Make the trust the beneficiary of the IRA, so that it only is flows into the trust after your death. Use of a specialized IRA trust and...

Terminating an irrevocable trust

You can file a petition to terminate with the court and let the court decide how much the charity should receive.

Can my father sell his house although it has his six children listed on the deed?

Yes. He cannot sell the property unless all of the children sign the deed to the buyer, or if they transfer their interests to your father...

If someone has inherited a property through a living trust, is a quit claim deed sufficient or is any other type of deed best?

Distributions of real property from a living trust after the grantor's death are typically done by way of a limited warranty deed. From the...

I am the executor and successor of trust for my parents estate. I live in Fl, the estate is in NC. no lawyer will represent me,

You don't state why you are having difficultly hiring an attorney, but the mere fact that the estate is in NC and you live in FL should not be a...

Selected as the best answer

No, it has to be taxed as a partnership if both of you are members. You could transfer 100% of the membership to one spouse and then it would be a...

Explain tax implications of giving $14,000 of low cost basis, highly appreciated stock to an individual.

There is no step up in basis when appreciated property is gifted, but the gift alone does not trigger any tax.

To add to what attorney Gunthert said, your Will controls the account only if the account is not jointly owned and you do not have a beneficiary...

My daughter died intestate. How does one arrange to have the court appoint an administrator of her estate?

Mr. Dedmond is correct. If you are working with an attorney and the attorney agrees, he or she can be nominated by you.