Nursing home and the state getting proceeds from possessions.
What you are proposing is known as a bargain sale. It is not really a sale. Rather, it is part sale an part gift. The 3,500$, the gift part, will...
N. Royalton, OH
Trusts Lawyer at N. Royalton, OH
Practice Areas: Trusts, Estate Planning ... +2 more
What you are proposing is known as a bargain sale. It is not really a sale. Rather, it is part sale an part gift. The 3,500$, the gift part, will...
If the item on which you wish to make a beneficiary designation is an employer plan, like a 401(k) or a pension of profit sharing plan, then it is...
If the car was titled in your Mother's name without a TOD designation, then some form of probate will be needed. If the value is under $35,000,...
If your Mother was receiving social security, then SSA should have been advised by the funeral director, but it always is a good idea to double...
If the Trust is irrevocable and if she transfers the house to the Trust more than 5 years before she goes into the nursing home, then it should be...
This question is better posted in the Bankruptcy or Debtor-Creditor area. If you did not create the Trust, then you do not own the house so...
This situation is complex and can go bad in so many ways that you should seek the advice of an elder law attorney soonest.
All depends upon the provisions of the Trust. Seek the advice of an attorney who must be able to have a look at the Trust document first.
Adding to the foregoing insightful answers: The Trust now is irrevocable and should have its own EIN and will have to file a Form 1041 each and...
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If both your Mother and the Trust/Trustee are located in California, then it is likely that any lawsuit you bring for an accounting will have to be...