Archived
Who might be the better choice to disperse funds from a probate home sale?
Patricia's answer
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Answered on November 02, 2016
It depends who you trust more - the executor or the attorney. And requires court order.
Archived
What is the effect when the original and all copies of a revocable living trust are lost?
Patricia's answer
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Answered on November 01, 2016
If there is no written proof of the terms of the trust, then the property most likely would have to probated under the terms of intestacy - as if...
Archived
What happens to the house if the 1st trustee passes away with 2 kids in the house and the living trust named a second trustee?
Patricia's answer
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Answered on October 30, 2016
It depends what the trust says happens to the house. Did the trust expect that the house would be sold after grandfather's death? Did the trust...
Archived
How to execute a will if both executors have deceased and the family member with Power of Attorney has a mental illness?
Patricia's answer
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Answered on October 29, 2016
Yes -- petition the court in the county where your grandmother lived to become executor of her probate estate. The power of attorney became...
Archived
Can my Trust assets be attached should I be involved in a major bodily injury car accident.
Should cars be removed from Trust?
Patricia's answer
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Answered on October 28, 2016
If you are talking about a revocable trust over which you and/or your wife have the authority to make distributions to yourselves, then yes, a...
Archived
When do i take overrental property left to me in my uncles trust
Patricia's answer
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Answered on October 28, 2016
The terms of your uncle's trust determine how and when the assets should be distributed. The trustee should have sent a copy of the trust to you...
Archived
What are the legal and tax consequences when you quitclaimed(removed) from the trust
Patricia's answer
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Answered on October 28, 2016
This is common among lenders. They want to do business with a person, not a trust. There are no tax consequences, but you MUST remember to...
Archived
What is the best way to ask the Trustee which is my brother for a detail annual report of the income, expenitures, of the trust
Patricia's answer
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Answered on October 28, 2016
You need to consult with an attorney ASAP. If your mother was declared incompetent, then she is unable to authorize changes to the trust. The...
Archived
What happens if you do not file tax returns for a irrevocable life insurance trust? It only has cash and no real estate.
Patricia's answer
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Answered on October 17, 2016
The same things that can happen to an individual who does not file a tax return if one is required. Liability for not filing a return would fall...
Archived
Can numerous recent handwritten observations by late trustor be used to prove trustors intent? handwriting can be proven.
Patricia's answer
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Answered on October 17, 2016
If the language of the trust is clear, then your brother must be contesting it based on undue influence or incapacity. Yes, contemporaneous...
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