Archived
Does a home in a trust, amicably sold to a sibling, require an attorney for either buyer or seller?
David's answer
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Answered on October 16, 2013
If the trust is making the loan to the sibling, the trustee-sellers (as part of their fiduciary duty to ALL the trust beneficiaries) should take...
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Archived
Can a copy of a will be entered into probate court
David's answer
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Answered on October 16, 2013
As has been suggested, this is dependent on state law. In some states a testator may revoke a will by destroying the original, so for obvious...
Archived
Can a legal guardian block a nursing home from providing information to a sibling (living out-of-state) on the health of a paren
David's answer
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Answered on October 16, 2013
I agree with Mr. Zelinger.
Frankly, in light of HIPAA regulations, I'm surprised the nursing home provides you information in the first place,...
Archived
Can my GRIT trust be canceled?
Can the trust transfer back the real estate to me the grantor and if so what are tax consequence
David's answer
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Answered on October 16, 2013
GRITs are irrevocable trusts. In order to acchieve the tax benefits, the grantor is not a permissible remainder beneficiary. If this is changed or...
What is the tax consequences to someone who inherits an interest in an LLC?
David's answer
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Answered on October 15, 2013
One option that hasn't been mentioned, but that could make sense taking into consideration all the facts, is to inherit the LLC interest in trust,...
Archived
I am planning to get remarried soon. However, because I have one son. ; I want to write a will to insureall my assets are his.
David's answer
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Answered on October 14, 2013
While I'm not licensed in Texas and defer to my colleagues who are, I reiterate the recommendation that you consider a pre-marital agreement in...
Archived
If you owe someone money and they pass away before you pay them back, is that money considered a gift and are taxes owed?
David's answer
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Answered on October 14, 2013
The executor may have some issues for not marshalling all the estate's assets (ie, the debt owed to the deceased/estate). This may also present...
Archived
Where do I find form or wording to show a person is incapable to make/communicate decisions to make POA effective?
David's answer
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Answered on October 14, 2013
I suggest contacting the attorney that drafted the POA. He or she will likely have some sort of form for documenting the declarations that the POA...
Archived
I am a co- borrower on my daughters car loan but not on the title
David's answer
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Answered on October 08, 2013
It will probably be cheaper and easier for the bank to collect payments from you than to find and repossess a missing vehicle.
Can a trust choose a fiscal year instead of a calendar year for tax purposes?
David's answer
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Answered on October 08, 2013
In general trusts are required to file on a calendar year. However, there is an exception if the trust makes what is sometimes called "the 645...
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