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My wife receives a monthly check from a Living Trust. Should we be getting some form for tax purposes?
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Answered on February 05, 2013
It depends on whether the distribution is a distribution of income or principal. If the trust is distributing income, it will generally deduct the...
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Are the attorney fees submitted to the court on a Probate case handled separately or are they part of the Order or claim ?
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Answered on January 30, 2013
In general, a person who commences a lawsuit that benefits the estate that benefits the estate may be reimbursed from the estate. Had the court...
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Can a bank lend money to a decease's estate?
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Answered on January 28, 2013
Generally, the personal representative has the same powers that the decedent had, in trust, however, for the benefit of creditors and others...
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I have a question about my mother and some money that she has in her bank account, and how much she is legally allowed to gift.
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Answered on January 25, 2013
Assuming that the money is your mother's money to give, she may give any amount she wishes to give. However, there are other concerns. The first...
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Can a revocable trust pay income taxes as a trust instead of beneficiary (and grantor) needing to claim on individual return?
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Answered on December 30, 2012
I agree with Ms. Cook. The answer depends upon the distributions made, the terms of the trust and potentially, the decision of the trustee. If...
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I am confused on the probate issues. Can someone give me and idea what we could be doing, or not doing, right?
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Answered on December 20, 2012
More information is needed to answer this question. Are your father-in-law's total probate assets less than $50,000.00? If so, they can be...
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As a receipient of a inheritance in the state of Minnesota do I have the legal right to know what is going on in the will? There
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Answered on December 11, 2012
As a beneficiary of the estate, you have a right to an inventory and periodic accountings. If the estate has been open for several months and you...
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I have a question about a joint checking account with my wife and her aunt who has recently passed away.
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Answered on December 07, 2012
Mr. Adkins has given an accurate and thorough answer to your question. Even though your wife may be entitled to the funds, you may wish to consult...
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As a recipient of a inheritance do I have the legal right to know what is going on in the will?
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Answered on December 05, 2012
I agree with Mr. Frederick. You are entitled to a periodic accounting of the estate assets. If you haven't received an accounting within the past...
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Can an executor decide what the decedent meant by "equal distribution" of inheritance?
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Answered on December 04, 2012
This is not an uncommon situation. The best alternative is for everyone to compromise and reach an agreement. This helps preserve family...
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