Archived
Can our attorney or his associates in his firm process the living trust? Or do we need to find another estate attorney?
Michael's answer
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Answered on January 19, 2016
Your mother should make her wishes known, preferably to her attorney. The power of attorney you have may be limited to just health care, or if it...
Is it considered self-dealing if I am a trustee and the trust continues paying my personal expenses from before I was a trustee?
Michael's answer
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Answered on January 19, 2016
A trustee owes a Fiduciary Duty equally to all beneficiaries. He may be suffering from dementia but he is the PRIMARY beneficiary and solely...
Archived
What funeral expenses are allowable as deductions when figuring the "residue" of my husband's estate, please?
Michael's answer
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Answered on January 19, 2016
The trust is never 'funded' at death. It is funded during the Grantor's lifetime. Do have a sit-down meeting with a CPA to give you advice on...
Archived
How long do executors and trustees have to settle an estate or 'terms" of a will or trust.
Michael's answer
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Answered on January 18, 2016
This can vary quite a bit. Normally, the Trust 'settles' when the assets have been distributed and a final accounting done and the accounts are...
Archived
Yes I am wondering I am a secondary beneficiary on my dad's beneficiary that he wanted it split down the middle
Michael's answer
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Answered on January 18, 2016
Life insurance beneficiaries are designated under a contract. If the insured later changes his mind about splitting it, then he needs to update...
Archived
See above
Michael's answer
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Answered on January 18, 2016
I concur. The homestead for the primary residence is still good. However if you want to be safe I'd recommend you sit down in person with a local...
Archived
If court was involved, can a trustee resign as Trustee w/o further court involvement?
Michael's answer
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Answered on January 18, 2016
If the Court has issued an order to remove a Trustee, then the Trustee's resignation is simply his following the Court's order. The third Trustee...
Archived
What are other options (like civil/criminal court) regarding the trustee's use of extortion, embezzlement of trust funds, etc?
Michael's answer
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Answered on January 14, 2016
Have an Estate Planning attorney assist you with filing a Motion for Reconsideration. See Avvo.com under 'Find-A-Lawyer'.
Archived
Can he pay himself under this scenario? If so, how much? Do I have grounds to displace him as trustee?
Michael's answer
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Answered on January 14, 2016
Yes generally a Trustee is entitled to reasonable compensation but that is governed by the Trust document itself. However, that being said, I...
Archived
How can I compel the court to allow the sale of part of an estate?
Michael's answer
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Answered on January 14, 2016
Time for you to sit down face-to-face with an Estate Planning attorney for a private consultation. A Motion may be necessary to get the Court's...
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