Can a revocable trust make a gift , if so who must file form 709, , if not who pays the tax. The value i under lifetime exempt?
Stephen's answer
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Answered on September 27, 2020
Attorney Daymude makes some good points. To be safe I think you should consult with your CPA or other tax adviser before doing anything.
Is a mortgage lender allowed to request a copy of (my parent's) family trust to see if I'm a beneficiary?
Stephen's answer
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Answered on September 21, 2020
I actually agree with both counsel who have responded thus far. Did you volunteer to the lender that you are a beneficiary of this trust.. how did...
Should I register as LLC or S Corp or Sole Proprietary?
Stephen's answer
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Answered on September 19, 2020
Agree 100% with attorney Koslyn. You need to consult with a CPA because there are different tax rules depending on the type of entity in which you...
How do I relinquish my interest on real property to a joint tenant?
Stephen's answer
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Answered on September 19, 2020
You would convey to your sister by Quitclaim deed your 1/2 interest in the property and have it recorded with the Prelim change of Ownership form...
Real Estate Broker refuses to sue for commissions which are shared by the salesperson. What are the salesperson's remedies?
Stephen's answer
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Answered on September 17, 2020
Another option is to have the salesperson and broker collectively sue (arbitrate) with the buyer ( who hopefully will settle without a lot of cost...
Archived
What legal structure is required for purchasing a home with a non blood relative, for both legal and tax purposes?
Stephen's answer
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Answered on September 16, 2020
I agree with attorney Koslyn's answer. Further I suggest you consult with a CPA before doing anything.
Is there a way to avoid probate for real estate owned by an S-Corp, which is owned by a sole shareholder?
Stephen's answer
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Answered on September 11, 2020
I think the answer depends to a large extent on how title to the property is currently held as reflected on the deed? Without this information it...
Do I need to lodge a Will if there is a Living Trust also?
Stephen's answer
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Answered on September 10, 2020
To me the way you have framed the question is confusing. You do not state whether the will is a SEPARATE DOCUMENT called a pour over will? You...
Is an Interspousal Transfer Grant Deed required to exclude non-beneficiary spouse from rights to sale of house in will?
Stephen's answer
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Answered on September 06, 2020
The facts are very foggy at best the way you have presented it. My understanding is that there would be no need for an interspousal deed unless the...
How will filing a Claim for Reassessment Exclusion for Transfer Between Parent and Child effect my tax status?
Stephen's answer
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Answered on September 06, 2020
In my opinion you are in the wrong place. You should consult with a tax CPA.
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