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My father owns 2 homes. one he resides in and one he rents. Would it be advisable to put them both in a living trust?
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Answered on November 03, 2012
I agree with the prior answers that more information about your father's situation is needed to provide the best answer. However, one obvious...
Archived
Can I be held personally liable for debt, if I dissolve the LLC or simply break a cell phone company's 2yr contract in Michigan
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Answered on October 29, 2012
Before we get to the LLC part of this response, you need to find or obtain a copy of your contract. Before assuming that it is only the LLC that...
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Does a Trust protect unemcumbered real estate?
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Answered on October 28, 2012
Since you are located in Grand Rapids my answer assumes that the settlor of the trust and potentially the property of the trust are located in...
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Secured gifts of money (that his parents won't spend) for our 3-year-old Grandson
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Answered on October 21, 2012
Given the limited amounts you have to contribute from time to time, the cost and effort of setting up a trust probably is not worthwhile as an...
Archived
What is a reasonable fee for a trustee to ask for
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Answered on October 16, 2012
All of the preceding answers offer valid points. One additional consideration, you mentioned two properties but did not indicate if there was one...
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Is a gift to an irrevocable trust a "gift" for tax purposes?
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Answered on October 16, 2012
The $13K is a gift that is within the annual exclusion and if a spouse joins with you in the gift, it can be increased to $26K. Giving it to an...
Archived
Can a ladybird deed be used in estate planning?
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Answered on October 15, 2012
A lady bird deed can be used to avoid probate because it reseves a life estate in the property to the grantor along with the ability to cancel the...
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In my mother's trust, she made provision for her grandson to receive approximately $1,000.00 from a CD she had in the bank.
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Answered on October 09, 2012
I agree with the prior answer but would add that the personal representative of her estate may well be a family member and may be willing to honor...
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Breach of privacy/quiet enjoyment by maintenance and management.
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Answered on October 09, 2012
Your lease undoubtedly has language in it that allows the landlord (and landlord's agents) to have access to your apartment for maintenance...
Michigan is A will supposed to be filed with the County Clerk within 30 days of someone dying.- if so why
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Answered on October 09, 2012
Michigan law requires that a person having custody (possession) of a will of a decedent is to file the will with the probate court in which the...
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