Looking for information about forensic audit on protium
looking for information about forensic audit on protium master grantor trustJA: Since estate law varies from place to place, can you tell me what state this is in?Customer: arkansasJA: Has any paperwork been filed?Customer: yes, I have been fighting them since 2013 i need to know if the trust still existJA: Anything else you want the lawyer to know before I connect you?Customer: the case is in federal court for foreclosure, i need to know if the trust still exist it is important in my case
My two sisters and I are trustees and beneficiaries to two
Hello,My two sisters and I are trustees and beneficiaries to two trusts set up by my parents as part of their estate plan. A lawyer reviewed the trusts on our behalf and determined that there is a provision in the trusts to allow the properties in the trusts to be transferred our names now. He said that the only thing that we would need to do is sign the deeds to the properties. Here are our questions:1) By transferring the properties in our names will this help to thwart any potential challenges by a potential sibling (whom my father denies fathering) who may make claims to the properties?2) My sisters and I would like to have the ability to take a loan out against the properties for investment purposes. Are there any caveats/things that we should be aware to facilitate our financing process for the properties?3) Are there any negative tax implications to transferring the properties into our names?
As executor of an irrevocable grantor trust who was sole
As executor of an irrevocable grantor trust who was sole caregiver and living with my parent who passed 11mos ago, do I owe rent to my sister the other beneficiary of the trust for the 12 months I have resided in the residence while the affairs of the estate were being cleared to allow the sale of the house? I am purchasing the house but have been unable to open escrow until i recently received a settlement clearance from Medi-cal.
I am an executor and beneficiary of an irrevocable family
i am an executor and beneficiary of an irrevocable family grantor trust. My father passed last year. $100,000 in bank and a appraised at his death $295,000 home. I was his sole caregiver for the last three years and lived with him. I am preparing financials and estimate of estate distribution. When is the house valued? At time of death or at time of sale? It has been almost 1yr from his death. it has taken time to complete his financials and settlement with Medi-cal. I wish to remain in the house and purchase out my sister the only other beneficiary.JA: OK. To minimize me, please click the down arrow at the top right corner of this box. Handling a trust can seem complicated, but getting the right information now can only help. Because laws vary from state to state, could you tell me what state is this in? OK. To minimize me, please click the down arrow at the top right corner of this box. Have you consulted a lawyer yet?Customer: CaliforniaJA: Is there anything else the Estate Lawyer should be aware of?Customer: I have distributed $60,000 of the $100,000 to my sister. I may have a few more expenses. Final taxes for estate and personal need to be prepared.JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Estate Lawyer about your situation and then connect you two.
My husband is a trustee with his brother on an irrevocable
My husband is a trustee with his brother on an irrevocable defective grantor trust. He has not seen any documents pertaining to the trust nor does he know what rights he has on this trust. My question is: Does he have any rights or responsibilities?
I was recently appointed trustee of my mother and
I was recently appointed trustee of my mother and father-in-law's irrevocable trust. They declined themselves as trustees as did the bank. Now it may not be a grantors trust anymore. Should I file tax returns for the trust separately? And that the trust is to be passed on to my wife at the death of her parents, does this interrupt any inheritance tax plans? The trust value is well under inheritance limitations.
Under a California Land Trust, if the Trustee failed to list
Under a California Land Trust, if the Trustee failed to list the beneficiaries, but the individuals were given a distribution of their share when the estate settled would it be correct to assume they are under no obligation to pay taxes for their share of the distribution and the Trustee would be responsible for all the taxes?
I want to setup a very basic trust fund kids.
I want to setup a very basic trust fund for my kids. Basically a brokerage account for my kids where they don't have direct access until they are 35 years of age or older (or earlier if they need a downpayment on a house for example). What are my best options? KISS Trust (I've heard mixed things)? (UTMA is not an option), I already have a 529 fund.