Archived
Mom died without updating her revocable living trust when she switched banks. How can the new trustee access her account?
Michael's answer
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Answered on August 18, 2014
This is exactly why the 'Pour-Over Will' is essential in a Living Trust Estate Plan - so that it acts as a legal 'Safety Net' and thereby 'pours...
Illinois trust question
Michael's answer
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Answered on August 17, 2014
Actually, the answer depends on "what the Trust says". Often a well-drafted Trust is specific as to accounting the Trustee's duties. Remember -...
Archived
How do you do change a trustee of an irrevocable trustee when the trustee dies?
Michael's answer
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Answered on August 17, 2014
The terms of the Trust control what happens next. The trust became irrevocable when the Grantor died and normally once it is irrevocable it cannot...
If you do your own will does it need to be notarized?
Michael's answer
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Answered on August 17, 2014
Your will is EXTREMELY IMPORTANT. My recommendation: Have it drafted by a licensed Attorney, then have Witness sign in the presence of each other...
Archived
The Mother is devious and does not have the children best interest at heart.
Michael's answer
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Answered on August 17, 2014
Have your Attorney file a Motion with the Family Court for a hearing and to change Custody.
Archived
My income is social security and pension and will cease when I die I have a lot of credit card debt. What happens when I die
Michael's answer
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Answered on August 17, 2014
It is the honorable & ethical thing to consider. If your Estate is insolvent due to debt that is one thing but if it has sufficient assets to be...
Can I claim a tax deduction if I pay for an elderly parent's assisted living costs?
Michael's answer
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Answered on August 17, 2014
Probably - but it is subject to the percentage guidelines - and whether or not your Mom is your legal dependent. Sit down with a tax preparer.
Archived
Can I give 2 agents on Durable POA equal power not specifically if one becomes incapacitated or dies If so how do I word on POA
Michael's answer
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Answered on August 17, 2014
Yes, it can be drafted that way. However it is recommended that because of how important the Power of Attorney is, it should be prepared (according...
Selected as the best answer
Archived
What rights do I have as a beneficiary of a trust ?
Michael's answer
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Answered on August 17, 2014
Your mother is the primary beneficiary of the Trust so long as she is alive. However now that she has a guardian, the guardian is entitled to an...
Archived
My aunt's attorney who is her trustee has not released our inheritance from the trusts set up after my aunt's death.
Michael's answer
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Answered on August 17, 2014
I concur. You can lodge a complaint with the Ethics Committee of the local State Bar, and you can also file a Motion before the Probate Court for...
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