Can I set up the ILIT with my adult son as beneficiary&trustee and have the insurance proceeds not be considered part of estate?
Gerald's answer
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Answered on April 10, 2016
Conceptually I agree with the attorney with whom you consulted; if grantor has too much control the life insurance proceeds may be considered part...
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Why do I have to fill out form for taxes on my mother's living trust
Gerald's answer
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Answered on April 10, 2016
Your post does not provide enough information from which to provide you with a complete answer. Based upon the little information provided there...
Why do I need to fill out W9 form on my portion of trust
Gerald's answer
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Answered on April 10, 2016
Submitting a W-9 Form by itself does not create income tax liability. The trustee needs the W-9 to prepare the K-9 distribution forms and the...
Archived
Do you need to probate a will that lists the surviving spouse as the sole beneficiary of the Estate?
Gerald's answer
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Answered on April 08, 2016
Whether a probate proceeding is necessary depends upon additional facts such as the nature of the assets, how title was held, whether the...
Archived
Is the trust legal?
Gerald's answer
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Answered on April 08, 2016
I am sorry for your loss. You present a very convoluted issue. While we all would have liked to provide you with an answer, it would be...
Archived
Can false statements and impossible tasks be put in a trust?
Gerald's answer
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Answered on April 08, 2016
As my colleagues have pointed out, you may have some legal recourse. However, time is of the essence. Depending on the circumstance, receiving a...
Archived
Will I be liable for his tax debt and unpaid medical bills that was accrued before I marry him?
Gerald's answer
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Answered on April 08, 2016
As my colleagues have stated, you are not responsible for your future husband's pre-marital debts. However, that does not mean that you will not...
Archived
How do I know this is not a scam? Is this even legal? Can they contact my relatives about serving me?
Gerald's answer
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Answered on April 08, 2016
What you are experiencing is not uncommon. A "credit consolidation" company is only as good as the creditors' willingness to cooperate. We see...
Archived
If you have been at the same job for less than a year can your wages get garnished?
Gerald's answer
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Answered on April 07, 2016
Yes. Length of time on the job is irrelevant.
Archived
Does my niece have the right to make decisions? And will this property end up in probate court?
Gerald's answer
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Answered on April 07, 2016
I am sorry for your loss. It sounds like you will have to open a probate. You indicate that your parents had a living trust. If so, they should...