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LLC owned by Living Trust
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Answered on January 13, 2013
Attorneys have different approaches to the naming of assets issue. I do not recommend listing personal assets because they change to often. Real...
Can the trustee of a securitization trust (mortgage-backed securities) be considered a beneficiary/creditor in a foreclosure?
Larry's answer
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Answered on January 13, 2013
Yes.
Archived
LLC Formation / Living Trust Question
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Answered on January 13, 2013
The owner of the LLC will be “JOHN DOE, TRUSTEE OF THE JOHN DOE REVOCABLE TRUST” Why do you think you need an LLC owned by your trust?
Archived
If your mother dies and there are no other children but she did not leave a will do I need probate
Larry's answer
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Answered on October 12, 2012
Yes, the first answer is correct.
Archived
If relatives make a person administrator of an estate of someone who died without a will, do they have total power over the esta
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Answered on September 29, 2012
No, in fact opening a probate is the best way to preserve the rights of heirs when there is no will or trust. The administer of the estate is...
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Archived
Can a 2nd settlor on a joint family trust, revoke an A-B trust that was never separated after 1st settlers death? In California
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Answered on September 13, 2012
The timing of the revocation and creation of a new trust is suspect. What is the relationship of the new successor trustee and beneficiary to the...
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If I gift away $800000 this year (2012) and the lifetime exclusion become one million again next year, does that mean there will
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Answered on September 06, 2012
Probably. You need to document the gift by filing a 709 tax return. According the IRS will have a record that you used $800,000.00 of your...
Archived
I am the settlor, trustee and beneficiary of my revocable living trust. My mortgaged townhome is an asset of the trust.
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Answered on September 03, 2012
You have what lawyers call a cross over question; your question requires knowledge of California Trust law and debt collection. This question with...
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15 years ago my property was placed in a revocable trust. I am the beneficiary & trustee of the trust. Last year my property
Larry's answer
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Answered on September 03, 2012
Y ou have what lawyers call a cross over question; your question requires a knowledge of California Trust law and debt collection.
As to the...
Archived
My home was sold at a trustee's sale last month. I hired an attorney and had a Revocable Trust Agreement drafted and executed.
Larry's answer
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Answered on September 01, 2012
What you describe is a common practice by lenders who don’t understand the legal principals of a Trust. I see this all the time in my Estate Law...
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