My aunt is the settlor of a living trust but is not a trustee. How can she take control of her assets in the living trust?
Mary's answer
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Answered on November 04, 2013
If the trust is revocable (or amendable), your aunt can either amend the trust or if she prefers she can revoke it. In California, a trust is...
Archived
Do you advise that we place the title of my husband's motorcycle in a living revocable trust?
Mary's answer
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Answered on November 04, 2013
I agree that vehicles are not normally placed in revocable trusts. In fact, in California, the value of registered vehicles does not count towards...
Archived
A family trust created 1982 has been amended 5 times. #5 refers to amend. # 2, which #4 had deleted, so is amend #5now invalid?
Mary's answer
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Answered on November 04, 2013
It is impossible to answer this question without reviewing the documents. You need to speak with an attorney. You will probably need to file a...
Archived
Do I need to sue my cousin to see grandmother's trust is carried out?
Mary's answer
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Answered on November 04, 2013
Your cousin (who is the trustee of the trust), must send a notice to all heirs (persons who would inherit if your grandmother did not have an...
How can I obtain a copy of my dead grandfathers living trust if I'm a beneficiary and the Trustee won't give me a copy?
Mary's answer
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Answered on October 16, 2013
If you are a beneficiary of your grandfather's trust (or if you are an heir (which you would be if your parent who is a child of your grandfather...
Archived
Have a irrevocable trust how can we get our money now
Mary's answer
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Answered on October 16, 2013
It sounds like what you have is a Crummey right of withdrawal (named for the case Crummey v. Commissioner). The notice of withdrawal probably...
California Prop 13 advice and Transfers from trust
Mary's answer
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Answered on October 10, 2013
The loan cannot come from the beneficiary who wants to acquire the property. It can come from any other beneficiary or from another lender. If it...
Archived
Is there a maximum percentage of an estate an attorney can charge to settle an estate in CA.
Mary's answer
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Answered on October 09, 2013
Maximum probate fees in California are set by statute. However, under certain circumstances the Court may approve extra ordinary fees. For a...
What does it mean when it says "Declaration of Good Faith"?
Mary's answer
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Answered on October 09, 2013
In addition to the possibility offered by Ms. James, some courts want a good faith declaration regarding the debts and liabilities when an out of...
Can a trust choose a fiscal year instead of a calendar year for tax purposes?
Mary's answer
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Answered on October 08, 2013
I agree with Mr. Zelinger that you should contact an attorney and a CPA familiar with fiduciary income tax returns. In order to elect a fiscal...
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