My dad passed in Jan 2021. House is in living trust. How do we avoid re-assessment of property (huge tax bill) when we sell?
Alan's answer
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Answered on August 03, 2021
As long as he died before February 16, 2021, proposition 19 does not apply.
You need to file a Parent-Child exclusion form with the county tax...
Trust is asking for bank accounts not listed in the trust? Why and do I have to give it to them? I had a joint acc with my dad.
Alan's answer
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Answered on August 02, 2021
IF you are a signatory on a bank account with your father, you are probably the joint owner and that account is yours and the trustee has no right...
My dad died 25 year s ago and dident change the name of the deed of the house the deed is still under my dad name my mom is sti?
Alan's answer
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Answered on August 02, 2021
Is mom still alive? If so, and they purchased it together, the probability is that title will show Joint Tenancy between mom and dad. Mom (or...
What can a trust ask for??
Alan's answer
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Answered on August 02, 2021
IF the trust company is the trustee, it is their job to sell the real property and any other property.
Did you pay $1500 to your attorney or to...
Do I have to have each revised page of a revocable trust notarized?
Alan's answer
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Answered on August 01, 2021
No. The amendment or the Restated trust needs to be signed and the signatures should be acknowledged before a Notary.
You really need an estate...
How do i find out if my dad who recently passed had/has any assets?
Alan's answer
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Answered on August 01, 2021
If dad put. the money in an account in both his and his girlfriend's name, the money is probably hers.
A private investigator could help find assets.
If a tenant sues the landlord of a rental property titled in a revocable trust does the trust offer any personal protection?
Alan's answer
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Answered on August 01, 2021
You can set up an LLC or S corp, then have the trust lease the building to the LLC or S corp. However, for the cost of setting up the LLC or S Corp...
What makes a marriage legal in california?
Can I make a trust where if anything happens to me my son gets my property?
Alan's answer
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Answered on August 01, 2021
To add to Ms. Mayer's answer. Did your "domestic Partner" know this was not a legal marriage? If not, she can claim she was defrauded. Unless there...
If you have access to an online bank account of a person in California that has dementia, can you use it to pay his bills?
Alan's answer
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Answered on July 29, 2021
Are you a signatory on the account? If so, you are an owner and can spend the money. You need to keep track of every penny spent and every penny...
Existing trust fund in the bank, sold tangibles, and sold the house. Does income and step-up in basis effect taxes, who pays?
Alan's answer
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Answered on July 29, 2021
You prepare and file a 1041 and 541.
The basis is the value. on the decedent's death.
Income and expenses are distributed to the heirs using form...
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