Archived
What are the ramifications of my mother changing her Living Trust to 3 executors (siblings) rather than the one she assigned?
Keith's answer
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Answered on October 25, 2012
Don't use 3 co-trustees. That is my advice, it's just too much to coordinate and causes way too much conflict. There may be exceptions when 3...
Archived
How to Ensure Inheritance Is Truly Separate Property In the Event of Divorce?
Keith's answer
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Answered on October 25, 2012
You are on the right track. Filing a joint return will not, in itself, cause the asset to be comingled. You should talk to your CPA or tax...
Administrator vs special administrator
Keith's answer
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Answered on March 24, 2012
You want Administrator. A special administrator is only when you need an emergency appointment. Their powers are limited and usually expire in a...
How to develop schedule of assets for living trust personally?
Keith's answer
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Answered on April 23, 2011
A schedule of assets is very simple, you just list out the assets. I usually group them by asset category, so I will have a Real Property header...
Archived
After inventory and apprasial
Keith's answer
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Answered on April 23, 2011
Did you file a Petition for Final Distribution? Once the Court approves your petition for final distribution, then you distribute the assets, have...
Archived
Dad wants 2 b sure I take over his house easily if something dreadful happened. What problems w/him making me joint tenant w/him
Keith's answer
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Answered on April 22, 2011
adding you as an owner means he is making a gift of the house now. The gift must be reported to the IRS, but no gift tax will be due unless the...
Archived
Who pays for a hearing regarding leaving to amend a complaint? I will probably not stipulate to leave to amend (prejudicial).
Keith's answer
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Answered on April 09, 2011
There is no penalty for refusing to stipulate to amend a complaint. Amendment requires leave of Court and you have no obligation to stipulate. In...
Archived
Can a Subsitution of Trustee and Full Reconveyance effect my living trust?
Keith's answer
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Answered on April 09, 2011
Your living trust is not in jeopardy. It is very common when refinancing for companies to take your home out of your living trust and put it into...
Archived
How to find the right trustworthy estate planning attorney for a living trust review and how much to expect to pay.
Keith's answer
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Answered on April 09, 2011
I agree that articles, blogs,and a good website are helpful in selecting an attorney. This Avvo site helps you do that and is a good resource. ...
Archived
A follow up question: if an item does has a significant value, do I need to get it appraised independently?
Keith's answer
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Answered on April 09, 2011
Oftentimes, the referee will allow you to obtain an independent appraisal and then use that appraisal as their own. The best thing for you to do...
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