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Recent Irrevocable Trust questions

I have a revocable trust, in that trust account are my home,

I have a revocable trust, in that trust account are my home, car, & bank account. Can anyone place a levy, or attempt to access my bank account.

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Ely

Counselor at Law

Juris Doctor

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I am 66 and undecided as my best option of a will or doing a

I am 66 and undecided as my best option of a will or doing a quitclaim. My stepgrandson is my only heir and I want him to have my house with as little crap as possible. i DON'T waant a long probate like I just went thru with my mother. I still have a mortgage which he can handle with the insurance money. Is there an easy way to do this?

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Delta-Lawyer

Doctoral Degree

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In New York City there are affordable housing programs that

In New York City there are affordable housing programs that have income and asset restrictions. The asset restriction is "applicants may have no more than $250,000 in total household assets (excluding specifically designated retirement accounts such as IRAs and 401Ks)." I meet the restrictions for income limit, but not for assets.I have no significant assets beyond what I recently inherited: stocks and mutual funds in excess of $250,000. I am sixty-eight years old, retired (for six years), and disabled. My only other income is Social Security benefits and a very small pension ($7,664/yr); so, in effect, these stocks and mutual funds have become my "retirement account," but because they aren't in a "specifically designated account," I seem to be disqualified from entering any of the affordable housing lotteries that occur in New York City.I can't see any way around this predicament. Is there one?

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Gerald, Esq

Juris Doctor

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Can a Canadian citizen with a permanent visa have a problem

Can a Canadian citizen with a permanent visa have a problem with real estate property after his or her death?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

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105,080 satisfied customers
My real estate was placed in an irrevocable trust in 2007. :

My real estate was placed in an irrevocable trust in 2007.JA: OK. The Lawyer will need to help you with this. Have you consulted a lawyer yet?Customer: My husband and I are benificaries to the trust, meaning we have the right to live in the house, pay the bills, upkeep, repairs. Etc, and collect the rent that a mother in law apartment( in the house , ) provides.JA: Is there anything else important you think the Lawyer should know?Customer: We are now in a divorce. His lawyer is trying to get the trust broken, and get some money from the real estate.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 Lawyer about your situation and then connect you two.Customer: I have a degenerative disability.

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TJ, Esq.

Juris Doctor (JD)

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10,310 satisfied customers
I do not live in Florida, but have (home) property in

I do not live in Florida, but have (home) property in Florida (not homestead) that has no debt. What can I do to make my properties undesirable for creditors, as I am in business across many states. I personally own these properties.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

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105,080 satisfied customers
My mother in-law is terminally ill. We are assisiting my father-in-law

My mother in-law is terminally ill. We are assisiting my father-in-law in organizing some estate issues. They reside in Virginia. They have an enormous amount of medical debt from her illness. The families primary concern is how to secure their house and family heirlooms against collection should something happen to both of them. In the event she passes away quickly he may simply file bankruptcy to discharge the medical debt. But in the event something happens to him what is the best thing to do? The house has a lot of euity but is not fully paid off. Can we put the house and any heirloom antiques etc into a living trust? Or is a standard Will sufficient in this instance? Or is there a better way to handle it all together?

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Delta-Lawyer

Doctoral Degree

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6,072 satisfied customers
We have taken care of all our property (homes) and financial

We have taken care of all our property (homes) and financial accounts. What we have left is our personal property. How do we take care of making sure it goes where we want. ie. cars, Jewelry, antiques and so on.

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NYFamilyAttorney

Licensed Attorney for 36 years

JD

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734 satisfied customers
My mom is in the hospital and may need to go into a nursing

My mom is in the hospital and may need to go into a nursing home or might need a full time nurse. She has medicare. I would like to transfer her money to me so it is not all taken. She is 92. Can i gift my self money or set up a irrevocable trust now?

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Ray

Lawyer

Doctoral Degree

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34,310 satisfied customers
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