I am the sole beneficiary of an IRA. The account holder was over 70 1/2. I opened an Inherited IRA under the Life Expectancy Method. Can I withdraw all funds from this account? Tax free fund growth is not my goal
You are entitled to withdraw the funds if the account is now in your name, but the withdrawal will be taxed. You will want to review with an attorney or a financial professional before doing so to determine what your tax liability will be and whether it makes more sense (cents!) to maintain it as an IRA or withdraw and reallocate the funds elsewhere.See question
I have a home with acreage in the City of Mequon and I am the sole owner and borrower on 2 mortgages. If I were to pass on after we marry, I would like it if my wife was not responsible for the loans or taxes. Can this be done? I would like to wor...
While the answer to "can this be done" is a "yes, it can be accomplished," your inquiry is not something that can be readily addressed in a brief forum such as this. Yes, there are many other scenarios and possible outcomes you should be aware of before you decide what legal documentation should be put in place.
You will want to review ALL of your circumstances with an experienced asset protection and estate planning attorney - not someone who "sure, can do that for you." An experienced asset protection attorney can help identify the risks and the tools to address those risks, based on your specific circumstances.
I confronted a family that swung their door full force into mine, causing a huge dent and deep scratch in my car. Their kid fessed up so I asked for their insurance. At that point they became belligerent, saying she doesn't deserve this and she's...
Disorderly Conduct under Wisconsin Statutes is "conduct under circumstances in which the conduct tends to cause or provoke a disturbance." While you don't specifically ask a question, I'll provide some general information regarding the situation you find yourself in. The statute defining Disorderly Conduct is broad and vague, and basically allows for persons to be charged for being involved in altercations, whether they believe they are at fault for the altercation or not.. In short, when officers are called to respond to an incident, something likely occurred that meets the Disorderly Conduct - "conduct tending to cause a disturbance"there are two sides to every story, and often officers responding to fights and squabbles simply issue citations to all involved. In many instances this is appropriate, as two people engaged in a fight or argument such as to "cause a disturbance" are both acting in a manner that falls within the statute's definition, regardless of who started it. Self-defense is not a defense to disorderly conduct, although if you can demonstrate to the municipal attorney, DA, Judge or Jury that you were not disorderly, but rather only taking the minimum necessary actions to defend yourself, then, perhaps you can beat the charge.See question
My parents are going to take the insurance payout from my auto accident
Assuming you are a minor, the settlement proceeds would typically be required to be placed into a trust account. If the requirement is to place the money in a Uniform Transfer to Minor Account (UTMA), then the custodian of the account would be your guardian(s), likely your parents. They would have a fiduciary responsibility to you with regard to the funds, but they would have still have access to the money. If they mishandle the funds in the account, you may have viable claims against then for breach of their duty to safeguard your money until you become an adult.See question
In my parents divorce papers it states that my Dad must maintain a $ 25000 life insurance policy payable to his minor daughters upon his death. My dad passed away in 2014. My question is are we still entitled to it since we are adults now???...
There are a few different issues in your question, and it is impossible to give an affirmative answer without a thorough review of the documentation. Generally, it sounds like the insurance requirement would have been in place until you and your sister were adults. You specify that the "insurance decree does not give any limitation," but the language "payable to his minor daughters upon his death" indicates the intent was that the policy was required while you were minors.
In any event, the divorce decree creates an obligation, but not a guarantee. Whether or not your father complied with the decree is another matter entirely, and enforcement of the provisions of the court order would need to be taken up with the court. With dad now deceased, this is not a very attractive option.
With regard to the will, if your deceased father's estate is in probate, that should be public record and available from the Court. You should explore visiting with an estate and probate attorney who practices in the state where your father resided to find out what options you may have with regard to the estate.See question
I have a clean record. I am 23 years old and being charged in California for piracy. Its penal code 350(A)(2). I was selling burned Xbox 360 games on a DVD on craigslist and was set up. When I got caught I was selling 20 games for $70 so pretty mu...
You need to hire an experienced defense attorney IMMEDIATELY.
You need to rely on professional experience, not "chance" in circumstances like these.
Your chances of facing additional charges from "Tons of stuff downloaded" may be very high, as well.
Moved out of an apt in WI after 4 years of tenancy. A month later I received a notice that I owe over $1,000 for additional cleaning as well as carpet replacement in the whole unit (this is after deducting my $500 security deposit). While I admi...
Attorney Knupp provided good coverage in answering your question. What constitutes reasonabe wear and tear is often the stuff of dispute when these types of cases are litigated.
I would add that the requirement of an accounting of any deductions from your security deposit is not merely a requirement because it was recited in the lease agreement - it is a requirement under the Wisconsin Statutes and Administrative Code provisions governing landlord/tenant relations.
The landlord's failure to comply with this requirement can have strong implications in your favor, including forfeiture of the security deposit and penalties.See question
alright so today i was at walmart and i did not mean to steal anything i did and got caught and i am sentence a court date and 303 dollar ticket from the cop and 170 ticket from walmart. im 16 and i never have doneanyting. im an b honors student c...
It is unclear what you mean by "I did not mean to steal anything I did and got caught," but if you have any potential defenses to the charges, that is where a lawyer can help.
If you qualify, you may be able to obtain low cost or no cost representation in Wisconsin through the Wisconsin Bar's Modest Meas Referral Service, or through Legal Action of Wisconsin. Links below.
WI Bar: http://www.legalexplorer.com/lawyer/lawyer-notafford.asp
Legal Action of Wisconsin: http://badgerlaw.net/Home/PublicWeb/LAW