Archived
What should I do
Michael's answer
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Answered on February 13, 2016
As trustee she owed a fiduciary duty to both of you. If she converted the assets to her own use and ownership and also provided assets to persons...
Archived
Is it correct that I should be charged for this also considering that I was not advised that there would be an expense?
Michael's answer
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Answered on February 13, 2016
There is normally a charge to prepare legal documents related to a trust. When you agreed with the Trustee set the termination in motion, it would...
Archived
What are my liabilities and responsibilities if I am the trustee vs. if he sells the properties to me outright for $1?
Michael's answer
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Answered on February 11, 2016
He would be very well advised to sit down for an in-depth conversation with an experienced Trust attorney to sort out the best options going...
Archived
Will gifts accepted by a remainder beneficiary nullify a potential claim a trustee is double dipping?
Michael's answer
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Answered on February 11, 2016
I agree completely. This all depends on Capacity. Good Luck.
Archived
Who gets noticed in a Petition to Interpret Trust Terms filed under PC17200(b)(1)? Only current party or future parties, also?
Michael's answer
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Answered on February 11, 2016
You can't go wrong by over-doing it here. I'd recommend a wide scope of Notice.
Archived
I have a Real Estate/Tax/Trust poser re: selling a second home that I hope someone is willing/helpful enough to tackle…….
Michael's answer
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Answered on February 11, 2016
I concur. Best to have a sit-down in person with an Estate & Trust attorney who can review the documentation and give you best counsel as to the...
Archived
Can a trustee 1099 someone for interest they received on an interest payment from the trust?
Michael's answer
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Answered on February 11, 2016
I concur with Attorney Shields. In this case a 1099 is appropriate.
Archived
Is there anything beneficiaries can do to prevent their trustee from using trust funds to finance a battle against them?
Michael's answer
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Answered on February 11, 2016
The answer would require a review of the Trust agreement and specifically the Powers of the Trustee. I'd suggest a sit-down with a Trust & Estate...
Archived
Can I Quit Claim it to one of the other beneficiaries?
Michael's answer
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Answered on February 11, 2016
If you are NOT YET the owner, you can certainly sign a Disclaimer. If you are already the Owner, you can quitclaim it subject to the tax...
Archived
Is there any way #1 #2 + 01 can make/change paperwork so that 2 nonbusiness beneficiaries will NEVER receive their entitled $ ?
Michael's answer
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Answered on February 08, 2016
The best course of action is to have a personal sit-down with an Estate Planning attorney to help sort this out.
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