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Can a lawyer change a trust even though the same lawyer wrote the trust of my parents stating that all assets stay in family?
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Answered on May 01, 2013
It sounds like the issue you have would be with your sister, who, by your facts, was named as the successor trustee of your parents' trust and then...
Archived
What are the basic guidelines for titling independently owned assets when funding a marital living trust?
Robert's answer
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Answered on April 24, 2013
I assume from your question that you are referring to a joint trust with your spouse that you intend to own your separate property, instead of...
Archived
How will cost basis of my CA condo apply, now in a revocable joint living trust, when I die first or when my wife dies first?
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Answered on April 23, 2013
As you have indicated the property in a revocable living trust in your name, I will assume that the trust is your own revocable living trust that...
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Does a Power of Attorney expire at death in California? Who handles the deceased last wishes if there is no Will or Trust?
Robert's answer
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Answered on April 19, 2013
A financial durable power of attorney will expire and no longer be valid on the death of the principal (i.e. the person who granted the power.) ...
Living trust in California, have a copy only, original is missing. Can the copy be used the same as the original.
Robert's answer
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Answered on April 08, 2013
As long as there is no evidence that the original was intentionally destroyed by the creator of the trust, a copy is sufficient to settle the...
Does a 3rd amendment on a living trust need to be notarized..?
Robert's answer
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Answered on April 08, 2013
There is no legal requirement in California that a trust be notarized. It is considered to be the better practice to do so, however.
An...
Archived
How so we add ourselves to the deed without triggering tax penalties?
Robert's answer
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Answered on April 08, 2013
The potential gift tax issues mentioned by the other two attorneys are likely not an issue, as there is a current lifetime gift tax exclusion of...
Archived
Do beneficiaries of an estate each have a 5.25 million dollar tax exemption? or is it based
on the estate value.
Robert's answer
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Answered on April 07, 2013
The exemption (applicable exclusion amount) for 2013 is $5.25 million per person dying, not for each beneficiary.
You indicate that the family...
Archived
My father has his house in a trust. He now wants to sell the house. Does he have to remove it from the trust before selling?
Robert's answer
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Answered on April 03, 2013
A property owned by a trust, including a living trust, may be sold directly by the trustee of the trust without having it removed first.
In...
Archived
What are the tax consequences of filing a quit claim deed transferring title (a home with a mortgage) from one trust to another?
Robert's answer
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Answered on March 31, 2013
When you say that you got the house in the divorce, was there a divorce decree that actually awarded the property to you? If so, that should be...