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Recent estate law questions
My brother had no will nor a living trust. He passed away in
My brother had no will nor a living trust. He passed away in February of this year and he had my name on his checking account and on his cd as beneficiary upon his death. His cd was$109,000.00 and his cash in his checking was $38,000. Do I have to claim this to the IRS and do I have to pay taxes on this gift? I am disabled, retired and 69. I live on a fixed income and I used the money to purchase a home fully paid for in cash.
I manage a social security representative payee account dad.
I manage a social security representative payee account for my dad. I want the funds to pass to my mom's hands without the funds going through probate. Can I just list my mom as a beneficiary on the account payable on death? The bank is saying that I can't list a payable on death beneficiary to a rep payee account but I don't see any legal reason for that.
My parents signed a warranty dead with life expectancy to
My parents signed a warranty dead with life expectancy to me. They both were on mi Medicaid for about 3 years. My father passed away and my mother is in a nursing home. Can mi Medicaid come back and try and take the property when she dies because of the mi Medicaid estate recovery laws or does it automatically come to me and avoid probate and the recovery laws.
I am a resident of Arizona, and I plan to purchase a secondView more estate law questions
i am a resident of Arizona, and I plan to purchase a second home in California. I want to keep my identity as owner relatively private by using a Delaware-incorporated LLC to purchase the home. The sole member of the LLC will be a revocable trust for estate planning purposes created in my state of residence in Arizona, and I as trustee of the revocable trustee will serve as the member/manager of the LLC. My question is whether the use of the LLC with my revocable trust as sole member will keep the property out of probate as the revocable trust is intended to do. Second, if I eventually became a resident of California, such that probate occurs there, does the answer change?