You will not be personally liable for taxes that your mother's estate owes if you serve as executor. Further, the estate will owe the same amount...

I think I might have entered the wrong type of trust when applying for a taxpayer ID.

You'll have to notify the IRS in writing of the correction. This article has great information on what to include in the letter to the IRS and...

What to "charge" for being executrix?

You are permitted up to five percent of the receipts and disbursements coming into / out of the estate; however, an executor's compensation...

My mother passed away in North Carolina. She has property in Ky. Do I have to probate in both states?

To transfer title to the KY real estate you'll have to get an exemplified copy of her NC probate file and file an ancillary probate proceeding in...

I want my sister to inherit my home when I die. Should I put her name on the deed with mine at time of purchase?

Not only would putting her name on the deed have gift tax implications, but it would also expose the property to her creditors. I concur with Mr....

MY DAD HAS BAD DEMENTIA AND VERY SICK IN HOSPITAL, MY UNCLE GOT HIM TO SIGN PAPERS LEAVING HIM EVERYTHING HE HAS.

If you don't think your father has capacity to sign new legal documents, you should consider filing for guardianship. A guardianship proceeding is...

I intend to use my sister as my executor of my will and her son as contingent. Do they need to be present when I sign?

No, they do not need to be present when you sign the Will. You should sign in front of two disinterested witnesses (witnesses who are not named in...

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My sister and I jointly own our deceased parents home. If one of us passes, would the other inherit the entire property ?

That depends on how your parents left it to you. You may own it "jointly with right of survivorship," which means that if one of you passes away...

Is it a good idea to have liability insurance on farmland if the land is in a trust?

The amount of liability protection that a trust will provide depends on the type of trust, so we would need additional information in order to...

Can you make your own leagal living trust

I would echo the recommendation that he consult with an attorney about the effectiveness of his trust. I'd also add that naming assets in the...