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I purchased a parcel from Lake County (Oregon), but cannot get a title insurance policy for 10 years due to the way in which they foreclose the property from non-payment of taxes. Many buyers in different Oregon counties have this same issue when...
I agree with my colleague. the first place to ask is the title company. If you cannot get an answer there, consult an attorney. It is complicated.See question
My ex is a con artist and has stolen over $50,000.00 From me. I am now in debt with loans and am finding out she has been hacking my emails as well as making up false bills from state agencies and att. I am being billed for a $2000 phone bill that...
Yes, there is what is called innocent spouse relief for income taxes.
Look at the IRS website and contact a tax attorney to assist you.
My Father died Jan 2013, and in his will he left $30,000 to my children for their education. A living trust was set up in their name and the money was put in a Edward Jones brokerage account. The trustee is someone he knew a long time but we have ...
The beneficiary of the trust (your children) have an absolute right to the trustee to act solely in their interests and upon request to communicate with them. If they are under 18 years old, you can act for them.
This is a very worrying situation.
Immediately, today, hire an attorney and go after the trustee. Any delay and the money and the trustee may be gone.
I have a home (with some equity and a mortgage) and a paid off car for assets. Student loans are with Navient and Great Lakes and based on public stafford loans rather than private. total assets based on current market value (if house was sold) ...
I agree with my colleague. In general, the answer is yes, your estate will have to pay your debts.See question
Sister is screwing us over! She was Named executor and became trustee of living trust when parents passed away father in 2010 from cancer and mother in 2015 from dementia. My sister cared for my mom till she died. I also believe she worked my Moms...
Under Oregon law, she is required to lodge the Will with the clerk of the court where the decedents lived and give a copy of the Trust to anyone who is a current beneficiary.
Oregon also has an elder financial abuse statute that provides for triple damages and attorneys fees for anyone taking financial advantage of an elderly person.
If you think she has not done the proper thing, hire an attorney and go after her.
Our Trust has been completely mismanaged and want an investigation into why what how and who is responsible.
I agree with my colleague's response. The only way to get compensation is to file a court case against the attorney. The tricky part is usually to prove that the attorney failure caused you damage.
This often means that you have to prove what you would have got if the attorney had not so acted. In effect, you have to prove two cases:
1. You would have won your base case;
2. The attorney error prevented you from so winning.
Often a tough burden to prove.
There are six siblings that are named as beneficiries to the trust. One sibling was named executor and we have removed him now but it's such a web of lies and confusion we are lost as where to start untangling the mess.
This is a common situation. You start with preparing a chronology of events based on documents and memory. In general, you follow the money. In modern society, it is hard to transfer large amounts of money without leaving some kind of trail.
The executor or trustee is responsible and can be required to account for the funds and reimburse any funds that cannot be accounted for.
Immediately, hire an attorney and get a good accountant involved. Move quickly. Time degrades evidence.
My father in law purchased the house in 1998 for 72,000. Took out va loan and in 2013 paid off the loan for $113,000.00. House was owned out right. In march 2017, a sibling abstained power if attorney for my father in law and sold the house for $7...
sounds fishy. You need an appraisal of the value of the house at the time of the transaction. You can start with the fair market value now. Ask another real estate agent or two and check online for the tax records, Zillow, etc.
If the POA really sold it for less than it was worth, your Dad could sue or someone on his behalf.
Save up your pennies, it will probably be expensive.
Have some rental houses that I want to put into a c- corp. and have the family trust own the corp. Trying to limit the liability exposure for insurance purposes and set up estate correctly so that transition is easy on family.
As my colleague as said, "yes" it can do it; but, it is probably not a good idea. C corporations are separate taxpayers; So, the income earned by the rental houses will be taxed twice: once at the corporate level and again at the individual level if the corporation pays the income out to anyone to use.
Most folks would use a limited liability company because it is rarely a separate taxpayer. Income from the rental houses would only be taxed once. Plus, the deductions from the depreciation, etc. can pass through to the income tax returns for the individuals.
We just found out that our 90 year old Great Uncle recorded 3 Transfer on Death Deeds to his caretaker of 10 years. If she passes before his Great Uncle, then her son gets the property. The property is free and clear and worth around $500,000-$700...
It is much better to contest it now. As my colleague says, there are triple damages and attorneys fees for elder financial abuse. A big stick to hit the caretaker with. The caretaker has a built in conflict of interest.
You will have to overcome his legal capacity to make these decisions with medical evidence.