Join the 9 million people who found a smarter way to get Expert help

Recent Trust Fund questions

I am a beneficiary of a trust fund that includes

I am a beneficiary of a trust fund that includes recreational property and money in funds and cash. My brother is the trustee as well as a beneficiary. He wants to resurvey the recreation property and I see this as a waste of money since the reasons he states do not seem to be valid. His reasons are below but my question is, does he have the right to just spend monies from the fund for items that are not needed or warranted?Here are is reasons:Re-survey the property. Many valid reasons for doing this. For example - If the trustee is ever forced to sell the property for whatever reason, this needs to be done prior. Potential new buyers will not accept an old outdated survey, which does not show the current owner, etc. The current owner's name shown is still showing the 4 original owners, which were two transfers ago. 4 original guys to dad and dad to trust. Also needs to be done in order to transfer property to the kids at some point. In addition, if at some point in the future exploring for natural gas and or oil is ever allowed in the area, (now that Trump is President it may) it would be necessary to have a current certified survey in order to lease the property. FYI - The old survey cannot be certified as the person who did it is no longer in business and a new surveyor won't certify someone else's work.

Read more

Dwayne B.

Juris Doctor

37,580 satisfied customers
Regarding Living Trust funding I've set up a trust but have

Regarding Living Trust fundingI've set up a trust but have not put my property in it as yet. Hoping to get some direction on properly writing the transfer of property from us to the trust.

Read more

1,240 satisfied customers
We have a trust/estate question in the state of Texas,

We have a trust/estate question in the state of TexasJA: Since estate law varies from place to place, can you tell me what state this is in?Customer: TexasJA: Has anything been filed or reported?Customer: A California Trust was re-written in Texas. Two daughters had been co-executors but in the rewrite the Texas daughter was names primary executor. Since it has been rewritten there has been movement of assets (cash, property) that appear to have been moved out of the trust and into accounts owned by the Texas daughter. The mother is now in hospice and we are concerned that the California daughter is going to get hosed.JA: Anything else you want the lawyer to know before I connect you?Customer: Does this lawyer know Texas law?

Read more

Ray

Lawyer

Doctoral Degree

41,504 satisfied customers
My mother passed away in march 2015. she has a trust. i

my mother passed away in march 2015. she has a trust. i think my sister has been mismanaging things. she wont let me go inside the jouse and now tells me the items inside i need to get before sunday because the estate sale people arw taking over. but she still will not let me there by myself. the inside is a dsaster. btotally ransacked i do not know what to doJA: Estate laws vary by state. What state are you in?Customer: californiaJA: What documents or supporting evidence do you have?Customer: mi have no documentsJA: Anything else you want the lawyer to know before I connect you?Customer: no

Read more

1,240 satisfied customers
Please make this question private. My divorce is settled and

Please make this question private.My divorce is settled and my house that I had with my ex closed several weeks ago. The divorce decree states that my ex owes me half of all of our debts. The money went into his lawyers trust fund. I have been trying to find out from the attorney I used during the divorce two simple things and he continues to give me the runaround. 1.). When do I get the money that's owed to me? 2.). How do the bills get paid? This arrogant attorney got into an argument with me over the questions I was asking and was talking to me like I was stupid. Can I fire him immediately and hire another attorney to finish this process? He has not been working for me this whole time and I don't trust him at all. Will another attorney take my case when all I have is a divorce decree? Someone needs to help me get what is already decreed!

Read more

Legal Eagle

Attorney

Doctoral Degree

1,530 satisfied customers
An 84 year old widow friend of ours had signed a contract

an 84 year old widow friend of ours had signed a contract with a person (we think she knew the man) to have her roof replaced or repaired. She paid him $1,700 and hasn't seen or heard from him since. This was about 7 months ago and she just told us about it. What should she do?JA: What state are you in? It matters because laws vary by location.Customer: She lives in Milwaukee, Wisconsin.JA: Has anything been filed or reported?Customer: She said that she talked to a friend of hers that is an attorney (but I doubt it because she said that there wasn't anything she could do about it). I think any attorney would at least have some knowledge as to where to go for help.JA: Anything else you want the lawyer to know before I connect you?Customer: Would her name, phone number and address help?

Read more

Barrister

Attorney/Landlord/Realtor

Doctoral Degree

52,306 satisfied customers
I have a friend who has been working as Physician's Asst and

I have a friend who has been working as Physician's Asst and would like to set up his own practice, rather than work for someone. He has a trust he will inherit some day with about $400 K in it. His parents are still living. I have been doing some business consulting with him. He would like to access the trust funds for the purpose of setting up his practice. His parents have mentioned possibly helping him out with a loan. He is hoping his parents could work out giving him the trust while they are still alive. We do not know the details about the trust, other than his parents set it up. If the parents set it up, is it likely they can work out an earlier access for him to the trust funds? He figures to make an extra $40K per year by being able to open a practice. He would like to sound intelligent when asking his parents to do this. Maybe he could ask some questions about type of trust. A short education of how it would or would not be possible would be very helpful. He feels if he has a good understanding of how it might work, it will make it easier to get his parents to work it out, if they can.

Read more

Gerald, Esq

Juris Doctor

6,834 satisfied customers
I have an Irrevocable Trust Fund in my name since 2008. My

I have an Irrevocable Trust Fund in my name since 2008. My father is the grantor and there is a trustee. My father put or sold a 1.4 million dollar life insurance policy to the Irrevocable Trust as well as other things like assets and properties. Apparently there is an $11,800.00 premium due this month for the life insurance policy. My fathers son said there is not enough funds left in the Irrevocable Trust to pay the life insurance premium and it will eventually default. Is this true of is he lying to me? Isn't the trustee responsible for making sure there is enough money in the trust to maintain the life insurance policy, properties and assets regardless of my father selling assets to the trust for cash? Is my father allowed to drain the trust of all it's cash?

Read more

Barrister

Attorney/Landlord/Realtor

Doctoral Degree

52,306 satisfied customers
My mother passed away recently and among other thing there

Hi. My mother passed away recently and among other thing there was an irrevocable set up and both my sister and I are the beneficiaries. My question is once the money is split between my sister and myself, do I have to pay INCOME tax on the entire principal (somewhere around $250K for each of us, or am I only responsible to claim what the trust has earned as income?JA: Well, we require $5 .Customer: OK. But I don't know if I'm comfortable giving out my credit card information on line to you.JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: Yes we all live in New JerseyJA: Has anything been filed or reported?Customer: When you say "anything" I don't know what you are referring to.JA: Anything else you want the lawyer to know before I connect you?Customer: I guess it's worth mentioning that we will each inherit about $168K each in IRA's. The broker that handles the IRA's already made us aware that the RMD will be around $15K for tax year 2017. We are also inheriting proceeds from about four CD's and a couple of checking accounts.

Read more

Barrister

Attorney/Landlord/Realtor

Doctoral Degree

52,306 satisfied customers
View more legal questions
In The News