Questions answered by Michael Leo Potter

Archived

Borrowed money from wifes trust and payed back into it with 6% interest can I claim the trust as community property now?

Michael's answer | Answered on April 08, 2015

Keith is correct. The trust is an independent "third party" and you cannot likely claim Trust property as your own. See Avvo.Com under...

Archived

What do I need to do- My uncle is POA/POD over my trust and will not give balance information/will not help

Michael's answer | Answered on April 08, 2015

Matthew is absolutely correct. Sit down with a Trust attorney to get this resolved. See Avvo.Com under Find-A-Lawyer. Good Luck.

Archived

If fraud & lies were used to convince u to put prop into rev liv trust, is there any way to reverse it.

Michael's answer | Answered on April 08, 2015

Sit down with a Trust attorney and sort it out. See Avvo.Com under 'Find-A-Lawyer'. Take any pertinent documentation with you including any...

Archived

Can a hired trustee hold off paying me my trust money if asked by my family members with out me knowing?

Michael's answer | Answered on April 08, 2015

I concur. See Avvo.com under 'Find-A-Lawyer' and sit down with a Trust attorney to sort these issues out and begin with a discussion of the Trust...

Archived

In a Living Revocable Trust, what is considered a properly recorded deed ?

Michael's answer | Answered on April 08, 2015

A "properly recorded deed" will be a deed which conveys the property to the Trust and which is then recorded with the County Recorder. It will...

Archived

In a deceased parents trust, if a family member wants to buy the property, do they get it for appraisal price?

Michael's answer | Answered on April 08, 2015

This depends on the language of the Trust and whether the home is already free-and-clear. The trustee has a fiduciary duty to get optimum pricing...

Archived

What recourse does a beneficiary have against a trustee that is not acting in the best interest of the beneficiaries?

Michael's answer | Answered on April 07, 2015

Have your attorney file a Motion to Compel a Fiduciary Accounting and a separate Motion to Replace the Trustee for breach of fiduciary duty. See...

Archived

Can somebody qualify for medicaid free government health care if they have $10K in the bank but no income and no job?

Michael's answer | Answered on April 07, 2015

Definitely consult with an Elder Law attorney familiar with this issue. See Avvo.Com under 'find-A-Lawyet'. Good Luck.

Archived

Does an heir have the right to view the income tax of the deceased to verify trust and estate accounting

Michael's answer | Answered on April 07, 2015

You have a legal right to view the supporting documents. Have the Trustee provide them to you or in the alternative have your lawyer file a Motion...

Archived

Upon death of last grantor, grantor trust, irs 1041 line a & d, which elections should be used?

Michael's answer | Answered on April 07, 2015

You should work with an Estate Planning attorney that is also a CPA in this matter. See Avvo.Com under 'Find-a-Lawyer'. Good Luck to you.

Michael Leo Potter's Answers (5702)

Borrowed money from wifes trust and payed back into it with 6% interest can I claim the trust as community property now?

What do I need to do- My uncle is POA/POD over my trust and will not give balance information/will not help

If fraud & lies were used to convince u to put prop into rev liv trust, is there any way to reverse it.

Can a hired trustee hold off paying me my trust money if asked by my family members with out me knowing?

In a Living Revocable Trust, what is considered a properly recorded deed ?

In a deceased parents trust, if a family member wants to buy the property, do they get it for appraisal price?

What recourse does a beneficiary have against a trustee that is not acting in the best interest of the beneficiaries?

Can somebody qualify for medicaid free government health care if they have $10K in the bank but no income and no job?

Does an heir have the right to view the income tax of the deceased to verify trust and estate accounting

Upon death of last grantor, grantor trust, irs 1041 line a & d, which elections should be used?