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Recent Revocable Trust questions

Is it a crime to employ a family member, loan them money to

Is it a crime to employ a family member, loan them money to buy a property? Also what is the limit to the amount of money you can give a person as a gift before it becomes taxable? I had all these questions come up during a investigation concerning my mother 1 year after the transfer which was done before any knowledge of the investigation

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Loren

Juris Doctor

36,276 satisfied customers
My niece ( I'll call her Gina) lives in Florida, is age 40

My niece ( I'll call her Gina) lives in Florida, is age 40 and disabled with MS and has a daughter(age 10). She is of sound mind though her health is declining and she is depressed. She receives SSA and medical insurance herself and children's benefits and medical insurance for her daughter from Florida.Her mother established a living trust in May 2013 which became a special needs trust for Gina upon the mother's death ( she died 8/26/14). It was the intention of the mother that Gina not lose the disabled benefits she receives thru Florida now or any future disabled benefits she might qualify for from any other government agency. The family attorney set up the trust and the trustee worked in his office--he oversaw the trustee and Gina felt comfortable with this as he was highly regarded by the family.Since the mother's death things gave drastically changed. The attorney got really sick shortly after and died in May 2015. The relationship with the trustee which was cordial has badly deteriorated since the attorneys death. The trustee is in a different office now. There is no communication except by text between parties and often texts are ignored completely. Gina has no idea what is in the trust, if any income is being produced from it or what expenditures have been made by the trustee! The trustee told her by text that there was an $80,000 estate tax bill due.I have been asked by Gina to become her power of attorney and guardian and also to become guardian for the child as Gina's health is declining. I am concerned her best interests are not beingproperly considered! The child is also sick as well now.Questions:How can this be accomplished and what will be my responsibilities assuming I accept?How do we find out what is exactly in the trust?How do we get tax returns and an accounting of the expenditures made from the trust?The mother's house is in the trust but is not on the market for sale or rent. It's been 15 months since the Gina moved out of it and back to her own house. Gina and her child lived there and cared for her ill mother for 3 years before her death. How do we find out what's going on with that?Can someone else be appointed trustee?I regret this is long but I live in NJ and need to help her!

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Gerald, Esq

Juris Doctor

5,136 satisfied customers
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

63,756 satisfied customers
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

6,072 satisfied customers
My mother prepared a revocable trust (in CA) 15 years ago.

My mother prepared a revocable trust (in CA) 15 years ago. My sister urged her to make changes in her property dispositions and had a second revocable trust prepared within the last year. My mother has been mentally incompetent with dementia for the past three years and so the trust can be challenged at her death. Can it be challenged while she is still alive?Thanks.Bruce F.

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CalAttorney2

Attorney

Doctoral Degree

19,444 satisfied customers
I have a Revocable Living Trust with Betzel and Kaufman in

I have a Revocable Living Trust with Betzel and Kaufman in Cincinnati, Ohio, Daniel Betzel. However, they apparently are not in business and I cannot find out who is taking care of that now. Can you help me find out who took over their business?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

46,302 satisfied customers
In the Power of Attorney form (in California), only item E

In the Power of Attorney form (in California), only item E (Banking & other financial institution transactions) was checked. Item H (Estate, trust and other beneficiary transactions) and other items were not checked.In this case, can the attorney-in-fact (agent) withdraw money from the principal's account on the ground that it is a gift for agent's daughter (US$50,000) in the circumstance that:a) Verbally authorization was given by the principalIf the answer is NO, what would be the charges? Civil or criminal charges?b) A written authorization was given by the principalIf the answer is NO, what would be the charges? Civil or criminal charges?c) No verbally or written authorization was given by the principalIf the answer is NO, what would be the charges? Civil or criminal charges?Note: Please do not put my questions and your replies on all the Internet webpages.

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Ray

Lawyer

Doctoral Degree

35,164 satisfied customers
I have a revocable trust i took out on1st april 2015.I want

i have a revocable trust i took out on1st april 2015.I want to move back to Nth Carolina early next year,is it ok to sell my house, and do i have to see a lawyer when i buy a new house in Carolina to change things,or do i have to do anything about it before i move?. I thank you for your advice,Maureen..p.s. i don't need to change anything except what my new address will be....

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Loren

Juris Doctor

36,276 satisfied customers
My father passed away three weeks at age 85 and left

Hello,My father passed away three weeks at age 85 and left a small inheritance to me. Four years ago, he was in an auto accident on a city street in which his car was demolished (hit on the passenger right front end by a Hummer) and he suffered two broken vertebrae, a broken arm, and was unconscious for over two days. He was in the hospital for over two weeks and then went to rehab for a period of time.While sorting through my Dad's files, I found a letter from the insurance company detailing a recent update from one of the two other vehicles' occupant who was involved in the crash. A week later, I received a letter (addressed to my Dad at his home) from the other accident victim's attorney, stating that he was to appear at a court mediation session in July.Regarding my Dad's small estate, I am the sole beneficiary and also the Trustee/executor (it was held in a Revocable Trust). My obvious questions follow:1) Now that he has passed away, are his assets still subject to a law suit?2) If so, how can this be done through mediation since he has passed away?3) WHAT can I do to protect the assets from a law suit. I was divorced five years ago and took a horrendous financial beating ($85,000 in attorney fees and well over half of all assets). I also am paying 50% of the college for a freshman son. My other son has cystic fibrosis, a fatal disease which requires continuous medication, therapy, and frequent hospital stays for bacterial infections of his lungs. I am 59 and only have about 10% equity in the house that I had to purchase following the divorce to live in.Thanks,Eric

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Irwin Law

Juris Doctor JD

8,434 satisfied customers
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