What are the tax implications for joint bank account owners when one passes away?

(Assuming your mother funded the bank account with her own funds), there is no taxable gift upon the creation of a joint bank account because there...

Selected as the best answer

A poa as it reads says no unequal gifting.

Was your sister the Attorney-in-Fact? If so, and if the POA specifically prohibited unequal gifting, and she gifted herself the house, then it...

Selected as the best answer

Can we contest this will

It sounds like a Will contest is brewing. I won't elaborate here more because you cannot contest a Will until after the testator dies. There is...

I read that probate is expensive. How much does this process cost?

Every state has laws dictating where probate can be initiated, but generally, you should be able to file in a county where real property resides. ...

The Trustee's fees are generally dictated by the trust agreement. If the trust agreement says nothing of how much to pay the trustee, then the...

How do I modify revocable living trust to reflect that fact that my husband passed away and change beneficiary.

I'm terribly sorry to hear about your husband. This is a great question but unfortunately, this question can only be accurately answered by...

My father in law owns multiple rental properties in PA including automotives. He wants to transfer all assests under my name.

What you are describing is called a fraudulent transfer (transferring assets to avoid a creditor). Not only can a court set aside the transfer,...

What are the signatory requirements in AZ for a power of attorney?

A.R.S. § 14-5501(D) requires signature of principal, signature of one witness (not principal's wife or children), and notarization. See link for...

A small estate left to a daughter includes real estate deeded "JWROS". Is there a monetary limit that avoids probate?

In Illinois, a small estate affidavit may be used to avoid probate if the entire gross value of decedent's estate is under $100,000, to include...

What happens when a rececipient of a trust passes away before dispursement?

What happens to the trust funds where a beneficiary predeceases the grantor of the trust is governed by the trust instrument. Generally speaking,...