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Recent Revocable Trust questions

My mother passed away. I was the DPA and Medical power of

My mother passed away. I was the DPA and Medical power of attorney. I took care of her and my step father for 7yrs total handling everything by myself. She lived in assisted living. I was just helping and handling everything and my mom was aware of everything. I have 5 brothers and sisters. They were all in the Trust as beneficiaries if any monies were left. There was none. She had a total of 180k amd it lasted to the end. I now have a brother 10 mos later stating he is going to get a lawyer to find out about her money and where it went. Her Trust was in Nevada. I never kept track of anything. No one ever told me too. I Didn't think I had to and I actually was keeping my head above water with a FT job and dealing with everything. My family just kept telling me what a great job I was doing. I am very upset over this issue. My question is: does he have the right to records or bank statements as only being a beneficiary? Can he get a lawyer to investigate? My mom was never legally deemed unable to handle her finances. She was not demented. Aren't people allowed to do whatever they want with their own money?

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CalAttorney2

Attorney

Doctoral Degree

20,028 satisfied customers
My question is about signature on California Form 568. Have

Hi, my question is about signature on California Form 568. Have had this federally disregarded single member LLC since 2003, my husband and I were the single member, then we transferred the membership to our revocable trust, then he became incapacitated & I was sole trustee, then I appointed Wells Fargo as my co-trustee. My tax guy has from the beginning just put my husband's name on the Form 568 and he would sign it. We always did paper returns in the past & I don't know how I've signed them in the last few years because I mailed in the signed copies. This year we are doing electronic filing and my tax guy has to put in a "title" and of course doesn't know what I've put in in the past. He wants to just leave it as my husband's name (where it says "owner") since that's what it's been all along, and wants me to tell him what to put in for "title". We settled on "member", and I'm thinking I'll sign HIS authorization document properly, since it will then be in his file. Of course, I have the authority to sign it, and always have, so that isn't the issue. I think I should put in the trust as the member & then sign the way I sign for that. What do you think? Am I making a mountain out of a molehill? He wants me to tell him how I've signed it in the past, and of course I don't know, I just did what seemed reasonable at the time. Thank you!

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

108,012 satisfied customers
Will revocable trust protect against creditors?

My husband and I live in Oregon, a community property state. We do not have any creditors we owe money to at this point. However, my husband does have some personal guarantees on leases on 2 pieces of equipment. Currently the business is fine and we are paying our bills fine. However to safeguard against future problems, about 6 months ago we transferred the house title to a Trust where I am the sole Trustee. His name is no longer on the house title. Same with 2 bank accounts-they are solely in my name and he does not have access to them. I also have another trust that has our rental property in it. My question: if the business fails in the future and we are not able to fulfill the lease (and there is no early payment option on these leases by the way) can the creditors access the trusts that are solely in my name??

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

47,104 satisfied customers
Not sure which this falls under. I am a 56 yo man who is the

Not sure which this falls under. I am a 56 yo man who is the live in caregiver and power of attorney for my 89 yo mother. We won't feel she will ever go in a nursing home because the family can take care of her, but it isn't ruled out. Therefore, the 5 year look back comes into play for the transfer of assets.I am on Full Disability from Social Security and my only income for 7 or 8 years is my full disability monthly check. I read that transferring assets or giving money to a disabled child does not incur penalties and the look back period exempts this in Massachusetts and everywhere. So, does she have to transfer her assets all at once, can she transfer some here and some there. Can she give me $5,000 once this year and then maybe something else next year?

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Ray

Lawyer

Doctoral Degree

35,806 satisfied customers
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

37,064 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

5,288 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

64,422 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

20,028 satisfied customers
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