Archived
Is she required to report his death to the mortgage company and if so, can they force her to refinance or modify the loan
Michael's answer
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Answered on March 17, 2016
I'm sorry for your loss. Title is in the name of the Trust and has not changed. Only one of the two Co-Trustees has passed away. So long as your...
Property vested in "hernandez family trust" does it change to "estate of...."
Michael's answer
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Answered on March 17, 2016
If your parents properly 'funded' the Trust, then the house is already in the name of the Trust. The Successor Trustee has a DUTY to let each...
Archived
If you inherit a house in NY, do you owe any taxes other than assuming payment of the home’s real estate taxes?
Michael's answer
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Answered on March 16, 2016
Part of the answer 'depends' on HOW you 'inherited' the house and part of it depends on which state law apply. There is a federal estate tax on...
California prop 13 question. How to retain prop 13 property tax if house is in a trust?
Michael's answer
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Answered on March 16, 2016
I concur with my colleagues. If the trust is a revocable trust while your grandmother is still alive and you are entitled to receive some of the...
Archived
What rights does Ivan have to keep her out of a home? What can be done since both parties do not agree with the decision?
Michael's answer
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Answered on March 15, 2016
Timing is the difference between a hero and a fool. If grandma is medically competent she can give a POA but if not then a Guardianship proceeding...
Archived
How should money be set up? Trust?Gift?Will? Etc How to avoid tax? and their house protection
Michael's answer
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Answered on March 15, 2016
It's VERY important that your parents sit down in person for a private consultation with an ELDER LAW attorney who can give them the best advice...
Archived
What is the most efficient way to update a will with a simple disbursement change? Can I do a codicil myself in front of notary?
Michael's answer
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Answered on March 15, 2016
While each state has a bit different requirement for Will Codicils, it's important to ensure that yours is consistent with the state in which you...
Archived
Should the tax bill state name in trust when I get the bills or is it ok for the bill to come in first and last name only?
Michael's answer
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Answered on March 14, 2016
If the property is now owned by the Trust the tax bill should come in the name of the owner - the Trust.
Does 50% or 0% of a JTWROS account get listed on estate inventory?
Michael's answer
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Answered on March 14, 2016
If joint tenancy, the surviving Joint Tenant owns it. Good Luck.
Archived
Do I need a living trust or an LLC for this situation?
Michael's answer
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Answered on March 14, 2016
Depends a lot on the State in which the Lottery winnings were acquired. Some states allow for the use of entities to create anonymous winners and...
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