Second opinion] - There is an irrevocable trust with a
Second opinion] - There is an irrevocable trust with a separate settlor, beneficiary, and trustee.Let's say that the trust (irrevocable) pays living expenses throughout the year for one of its beneficiaries.At the end of the year, it has to issue a K-1 to the beneficiary equal to the amount of expenses it paid on his behalf. Right?What happens if the beneficiary himself has no cash income to pay those taxes?Could the Trust pay the tax? If so, wouldn't that just "pyramid" more taxes owed?
My mother is in a nursing home, but is running out of money.
My mother is in a nursing home, but is running out of money. She has $9500 she would like me to hide from them for her expenses in the future, like doctor co-pays & necessary needs. Is there a legal way to withdraw the money so they can't come after me for it. I have the power of attorney. GeorgeJA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: Pennsylvania, and she has no other property.JA: Has anything been filed or reported?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: No
Thank you for answering so quickly! My late husband's
Hi, thank you for answering so quickly!JA: What state are you in? It matters because laws vary by location.Customer: My late husband's estranged daughter is demanding a copy of his Ca. will & living trust.JA: Has anything been filed or reported?Customer: He has not spoken w/ his daughters for almost 4 yrs. & we all live in Ca.JA: Anything else you want the lawyer to know before I connect you?Customer: Yes. He specifically stated in both documents that his estranged daughters were not going to inherit or take anything of his after his death. Although I have already told them of this, the won't believe me. The house has been upside down for 16 yrs. & they already checked to see that that was the truth & that I am not on the Deed. Do I need to give them a copy of anything when they didn't inherit anything? Do I need to do anything to protect myself since I want to have an estate sale to get rid of the junk in our house before selling it short in 2 mths?
I asked a question yesterday about an irrevocable trust on
I asked a question yesterday about an irrevocable trust on how to put an existing company/llc into a trust and I received an answer the other I need to know is if you can email me a sample letter for wording purposes also I have two trustees and a protector recently one of the trustees past away does the attorney that formed the trust have to redo the trust docs for me or is that something I can do in house after naming another trusteeJA: Can you tell me what state the LLC is registered in?Customer: louisianaJA: Has anything been filed or reported?Customer: ??are you taking about llc report to state ?like yearly?JA: Anything else you want the lawyer to know before I connect you?Customer: what kind of report?
I am a survivor of a 100% disabled Veteran whose property is
I am a survivor of a 100% disabled Veteran whose property is being pursued by relatives with the help of two local government officials. My land is very valuable and fell into disrepair at the time my husband was suffering from PTSD. We had not been living on this waterfront property but had come back home to rectify any code violations that had been committed including installing a armor stone sea wall. All of which has been completed with compliance being assured by the State Virginia Marine Resources Commission. But the county underhandedly took us to court requesting us to sign a trust on demand with ability of the county lawyer to take our land for any reason he and the land use official saw fit and sell it for $60,000 the price they set as amount of bond. We did not sign the paperwork. We prevailed in general court and the judge ruled the Commonwealth did not make its case. Yet, my mother and brother stole my paperwork and expects the county to put us off my land because they paid the officials to do so. I feel very violated as people have abused me during my worst time of life when I was most vulnerable. I do have a copy of my file which contained paperwork I never received. One paper in the file called for us to show completion of work by a past date but we did not receive said letter. Other improprieties, failures to follow policies and procedures were committed by the two county employees as well. Any help would be appreciated. I live in fear that some trick will keep my children from inheriting all the land I accrued during my lifetime. My husband served two tours of duty in the Viet Nam War and was near death when he was served with 14 misdemeanors which never should have been served to him especially when they were served to him while he was in bed revealing his nubs of his two amputated legs with his prostheses beside his bed. It was a humiliating thing for me to witness. My deceased husband was a proud man who served his country until his death on June 24th, 2013. He deserved better treatment from the people he gave his life for.JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: The property is in the state of Virginia - physically located at 404 Springfield Beach Road, Kinsale, VA 22488.JA: Has anything been filed or reported?Customer: I am not sure I understand the legal definition of the terms 'filed' or 'reported'. Do you mean a filing or reporting by a lawyer in my defense? If so then no as I am at a loss of who to get to act on my behalf. Please explain or expound more so I may be certain to understand what you are asking. Thanks.JA: Anything else you want the lawyer to know before I connect you?Customer: I do have a lot of paperwork which was exchanged and/or collected of agencies regarding policies and procedures. I am unable to move forward as I lack a knowledge of the law/lawyer and its know how.
Oh Tina. North Carolina' Yes, our son who is 8 won a case
Oh hi, Tina.JA: What state are you in? It matters because laws vary by location.Customer: North Carolina'JA: Has anything been filed or reported?Customer: Yes, our son who is 8 won a case but we as parents have questionsJA: Anything else you want the lawyer to know before I connect you?Customer: regarding the settlement Sure
My mother executed a valid trust with an attorney back in
My mother executed a valid trust with an attorney back in 2000 when she was fully mentally capable. However, she was diagnosed with Alzheimer's, dementia, and Parkinsons 6 months ago which dates back 3 years. My sister and I are the successor trustees and I'm wondering what I can and cannot do in regard to the bequests in the trust, in particular must I act in concert with my sister to do anything? My sister is extremely hostile to me and my family and even had a second trust executed after my mother became legally incapacitated (and so it will be voided eventually). I would like to ensure that the original bequests in the original trust will be honored and not undercut by my sister. Your suggestions? (State of CA)JA: What documents or supporting evidence do you have?Customer: My name is***** have the original trust and the comprehensive diagnosis which was done about six months ago by the Univ. of CA Neuro-Psych clinic in Walnut Creek, CA which states she had moderate to severe dementia and Alzheimers. She is aware and still recognizes everyone and has good days, but as the doctors noted she really cannot manage her own affairs. That has been going on for three years.JA: Anything else you want the lawyer to know before I connect you?Customer: That's it.
We live in OK. All property is in wife's name, and owned
We live in OK. All property is in wife's name, and owned free and clear (e.g. no mortgage, etc.) If I develop Alzheimer's, or some other medical condition that involves heavy expense and/or placement in home, can we avoid my wife being liable for my expenses by divorcing? I am covered by Medicare, and get about $2500 monthly SS and retirement annuities, but would have to apply for Medicaid help sooner or later.Follow-up question: !s the timing of divorce an important factor?
I have an Irrevocable Living Trust put in place many years
I have an Irrevocable Living Trust put in place many years ago. I am 84 and desiring to move to a low-income Senior housing in MontanaJA: What documents or supporting evidence do you have?Customer: The Living irrevocable TrustJA: Anything else you want the lawyer to know before I connect you?Customer: Yes, will this document stop me from getting a voucher for low-income housing, as my children own my home?