Ruth Elaine McMahon's Answers (5791)

Archived

What should an accounting consist of just real property or personal property as well. Does it all matter to a judge?

Ruth's answer | Answered on February 22, 2013

An accountng should consist of all assets - real property & personal property. Beneficiaries will have an opportunity to object to an accounting...

Archived

If there is a 401K and a 457 that do not designate a beneficiary and there is a will and a spouse , how does that money pass ?

Ruth's answer | Answered on February 22, 2013

The beneficiary of the 401k will be her spouse automatically unless he signed a document waiving his rights. I cannot comment on the 457.

Archived

My son and daughter were named in their grandfathers will. Their mother is the executor , she will not carry out the will ill

Ruth's answer | Answered on February 21, 2013

It appears that the will was probated and an executor was appointed. In order to close the estate each beneficiary should sign a receipt. You can...

Archived

What am I entitled to in the event of my grandmother's passing?

Ruth's answer | Answered on February 21, 2013

If the Will has not been changed, you would be entitled to your father's share if the language in the Will does not provide otherwise. You should...

Archived

Can a U . S . citizen over 65 , living with his son as a pendent apply for Medicaid ?

Ruth's answer | Answered on February 21, 2013

Medicaid is very complicated and although it is a Federal program, each state has different procedures to follow. There are income issues and asset...

Archived

I received this email from a international country is this something I can trust ?

Ruth's answer | Answered on February 21, 2013

This is a Scam. Report it to the Federal Authorities.

Archived

Still running a CPA business using my dead father in-laws name end experience.

Ruth's answer | Answered on February 21, 2013

Please consult an estate administration attorney in the county where the Will was filed and provide him or her with all of the details know. This...

Archived

Is account between a child and parent (child is now 18) considered joint marital property?

Ruth's answer | Answered on February 20, 2013

No - it is not marital property at all. It appears that it is a minorship account under the Uniform Transfers to Minors Act. To make sure, please...

Archived

My husband and son are trying to transfer ownership of a small business into my husbands name from our sons name.

Ruth's answer | Answered on February 20, 2013

It depends ... if it is a gift (you said there is no money involved) and the ownership has value, please consult a CPA to see how this should be...

Archived

I had a 401K before I was married . Then , I married and rolled over my 401K to an IRA account with Americanized .

Ruth's answer | Answered on February 20, 2013

If the account is in an IRA, you do not need a spouse to sign off on the change of beneficiary form. If an account is in a 401(k), a spouse needs...

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