Archived
How does BK trustee bring a trustee of a spendthrift trust into an action against a debtor-bene and how broad are his powers?
Michael's answer
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Answered on March 22, 2016
The intersection of Trust law and Bankruptcy law makes it imperative to have the Trust carefully reviewed to see what terms apply and to look at...
Archived
What would be the benefit of using a trust for business succession planning? What tax liability/issues should I look out for?
Michael's answer
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Answered on March 22, 2016
The owners could certainly use a Life Insurance Trust as part of their Buy-Sell Agreement such that the business would not suffer negative...
Archived
How long does a trust take to be distributed?
Michael's answer
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Answered on March 22, 2016
Generally, the existence of a properly-funded Trust obviates the need for Probate. However, there may be a Pour-Over Will that needs to be overseen...
Does an Arizona prison inmate need a will and an executor of his estate?
Michael's answer
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Answered on March 22, 2016
Every person - even if incarcerated - has the need for estate planning. I'd consult in person with an estate planning attorney in the state where...
Archived
I live with a friend that made someone power of attorney of them and that person is not nice to them is there way to revoke it
Michael's answer
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Answered on March 21, 2016
The power of attorney for health care is different in scope than a general power of attorney. Either can be revoked and changed. The issue will be...
Archived
Can a surviving spouse claim the unreimbursed expenses from a decedent's estate as a bad-debt capital loss?
Michael's answer
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Answered on March 21, 2016
As outlined in your question it doesn't seem to be worth it. Discuss with your CPA.
Is an Estate checking account really needed for small estates?
Michael's answer
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Answered on March 21, 2016
If the size of the estate is truly small, you still owe a fiduciary duty. Be careful about making any distributions to beneficiaries until the...
Archived
What would be the best document/technique to accomplish this?
Michael's answer
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Answered on March 21, 2016
Your LLC can be owned by either a Living Trust or a Wealth Preservation Trust. Both will accomplish what you seek - but getting someone to oversee...
Archived
Does my family have any legal rights regarding my husbands Dad's estate?
Michael's answer
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Answered on March 21, 2016
Because real estate is involved and it appears the deceased may have died intestate, the laws of the State will provide the outcome. See an Estate...
Archived
Quitclaim vs. Trust
Michael's answer
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Answered on March 21, 2016
See Avvo.Com under the link 'Find-A-Lawyer' then enter 'Trust' and the City & State. Good Luck.
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