What portion if any of a promissory note on real estate property is taxable to beneficiaries?

Seek the advice of a CPA. I agree that the entire value of the note at date of death is a taxable estate asset. On the income tax side, ther is a...

Question regarding a quitclaim transfer into a trust.

Hopefully you will get a response from a CT attorney. If not, seek advice from a local attorney. You likely are correct. If all it took to get...

My mother recently had to move into assisted living due to dimentia. How can I sell her house and not have Ohio Medicaid estate

It is surprising and unfortunate that someone rated the prior resonse as being unsatisfactory. It was a wholely appropriate response. Nursing...

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Estate plan or living will??

Get to an estate planning attorney ASAP. If your daughter were to lose you before she becomes 18, that unfortunate situation would be made worse...

Can establishing an offshore trust insulate "selected" assetts should one of my other real estate assetts have to be foreclosed?

Be careful! If you create some asset protection trusts and the result is to make it impossible for a creditor to collect a proper debt, your trust...

How to pass mother's house ownership to her three grandchildren. House was in a trust.

Expanding on the prior response: if children are the primary beneficiaries and the desire is to get the asset to grandchildren, it might be...

If you are thinking of doing a codicil, you might consider just siging a completely new Will. This has the simplicity of having a single document,...

What documentation is needed for a living trust to prove money has been borrowed from the living trustee?

Many Trusts have an attachment/exhibit/adendum which sets forth the particulars pf any loan owed to the Grantor/Settlor, together with language in...

Are we liable for a timeshare if inherited?

Additionally, if the is a Will which directs the assets to be transferred to the Trust (this usually is the case), it still may be possible for the...

Can an asset be placed in a subtrust without retitling?

A response will include as many relevant details as are provided in the question. The answer in this case cannot be informative without refence to...

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