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Recent Living Trust questions
I am the trustee of an irrevocable house trust, the house is
I am the trustee of an irrevocable house trust, the house is the only asset in the trust. My mother was the grantor and has been deceased for over 3 years. I would like to dissolve the trust as the reason for establishing the trust, asset protection, no longer exists. I am aware of the steps involved in dissolving the trust. My question is: When the trust is dissolved what happens to the assets in the trust? Does the house in the trust transfer to the trustee? Does the house have to go through probate? I would like to refinance the house and pass my sister her half and retain ownership. Thanks for your help.
My Grandmother passed on June 24th and had a revocable
My Grandmother passed on June 24th and had a revocable California living trust, of which I and my cousin are successor trustees. It was created by my Grandparents in 1988. My Grandfather passed in 2010, but the trust wasn't split into a separate marital trust and residual trust. However, there were no changes to the beneficiary designation after my Grandfather passed. Several of the beneficiaries initially specified have deceased before my Grandmother. How should I go about settling the trust? Are there any laws or forms I need to be aware of? Also, the trust contains a timeshare property and it wasn't directly granted to a specific beneficiary. Does the property need to be sold and the profits added to the trust? Does the trust need a new Tax ID?
Ray, I did another points relied on and made some changes
Hi Ray,I did another points relied on and made some changes and I would be appreciative of your opinion and review of the RSMo and the case studies to make sure they are correct. Some I took from what my lawyer did, but after I found out he let this go to trial on my mother and again if I am correct 473.444 time barred them and if they wanted an accounting to remove myself on my son 469.409 would have barred them as well.Since this is after the fact because the trial was in 12-2015 can I still bring this up as my defense.Can you let me know how long this takes you to look this up so I can compensate you accordingly.Thank you.
My dad was killed in a car crash 2 months go. my dad had a
My dad was killed in a car crash 2 months go. my dad had a trust fund left me everything in the trust fund he filed a homestead and abandoment homestead the people involved in car crash had injuries their attorney wants copies of my dads trust fund so i have to send them copies and because my dad has homestead will i be ok please help me thankyou stephanei caffejian
My mother had a living trust in which she stated her intent
My mother had a living trust in which she stated her intent to place the final distribution of an inheritance left to her by a cousin. The bank trust department still had not distributed the entire amount before she died. The bank now wants to put the money in her "estate" and not in her trust as she wished. Is there any reason that the funds cannot be transferred into her trust? I have already requested and received a small estate probate in Fauquier Co for what was left outside the trust. If the inheritance distribution goes into her estate I will have to reopen Probate and pay estate tax.
My mom was diagnosed with stage 4 pancreatic cancer in mid
My mom was diagnosed with stage 4 pancreatic cancer in mid October. My brother and I are her identified heirs on the will to split fifty fifty. My uncle is the executor she has a living trust and lives in Floridawe live n New YorkIn Noveber she said she had close to 400 thousand in assets and was glad that she could leave her kids a couple hundred .grand. Our relationship was good at the time. Mom put us on her checking, and safety deposit box. But Did not put us on her savings account. She said she would take care of it later. The attorney gave her paperwork to transfer assets to the trust. She has a cd that was identified but I don think that was transferred to the living trust It seems that she is using a second savings that we were not aware of. Highly unlikely that that was transferred to the trustAt thanksgiving she introduced us to her close friends- The ..... (She never mentioned them before- but the wife is a nurse practitioner who was taking her to MD visits and the husband was a handy man who would be helping her move into her new apartment -- paint it, hang fixtures...)After the closing in mid December, her apartment was not ready to move into. The husband still had work to do. This couple invited her to stay with them. He continued to do work in the apartment, (the apartment was in excellent condition before he began working on it. The wife handled her pain management medications (She will deny this- but on several occasions I'd noted my mom asking her if she could take a pain pillNew Years I saw her again- her apartment was still not ready - but I noted that their friendship was deepening and she didn't seem to need me emotionally as she had in the pastFebruary 1- Mom decided to permanently move in with them as they really wanted to care for her and she didn't want to be alone. During this time she didn't answer the phone as much and was heavily medicated when we did speakShe would repeat how she was leaving us a couple hundred grand, until one day she mentioned some past problems in our relationship and how there are other people more deserving than you She made a few references to not trusting me -- that I would try to take some of my brothers portion of the estate. My brother and I are closeWhen she was lucid and feeling well I did ask her if she had followed through with the savings account or the living trust paperwork. If not, I said I could help her with thatI asked to speak with her attorney, but she told me I didn't have authorization. She told me to have my uncle call He did. More paperwork was sent. Nothing was doneMid February I checked the activity on her checking account (this is the only a account I have access to). It showed the withdrawal for the apartment that she bought.My mom now owned two apartments. (She had enough cash to do this)She then sold one of the apsrtments and a 80 grand deposit was wired into her checking account After there was a 50 grand transfer to her savings. There were at least 10 thousands dollars worth of checks made out to this couple from the checking account (this I thought was probably related to her move and the apartment work) and other withdrawals that were large -- 3 grand was left in her checking account I recall asking my mom about it. She was offended and called my uncleMy uncle said this is upsetting to your mother. If you have any questions about the account ask me So I told him of the large withdrawals and the 50 grand balance transfer I was unsure if the fifty grand was in the savings but it would be helpful to me to have her paperwork complete. And have access to all her accounts I informed him That moms banking was being done via Internet and mom is medicated and incapable of working a computerHe spoke to the husband- (Ron) Ron said he helped my mom with her bills Yet he knew nothing really of her assets. My uncle warned me to lay off these people. They are taking care of your mother because they care for her. And they are really getting nothing for doing thisVisit mom late February --mom admits to me that she pays for everything in the house to help out. If he goes to homedepot she will buy him tools So in her way she pays him like that She says he does her online banking We offer to pay him rent. He said not necessary. We adore your mom We tell him we need access to her accounts. Can you help us. He says he doesn't have access. And refers us back to my mom. My mother just sat there when he said he didn't know how to access her stuff We offer him money. He says I do this because I love your mom. We insisted he give us a rent price He said 1500On chemo and a morphine patch she spent at least 80 grand. I want a list of assets and account access before she dies. Ron has been offended we asked and says my mom would have that
I am a beneficiary of a revocable living trust. I would likeView more estate law questions
I am a beneficiary of a revocable living trust. I would like to know how I can remove myself from that revocable living trust?JA: Handling a trust can seem complicated, but getting the right information now can only help. The attorneys we work with have a lot of experience, and I'd like to match you with the one who's the best fit.Customer: okJA: Have you talked to a lawyer yet?Customer: not yetJA: Anything else you think the lawyer should know?Customer: not that's it.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.