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If I create a irreversible trust, put money into it and
If I create a irreversible trust, put money into it and later can I take it all out? … read more
Attyadvisor
Attyadvisor
Doctoral Degree
10,757 satisfied customers
My sister had an IRREVOCABLE trust setup in the state of
My sister had an IRREVOCABLE trust setup in the state of NEVADA as follow: Step1: Grantor(her best friend) bought $500 money order as a first money gift to create the IRREVOCABLE trust. That was ALL t… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
6,613 satisfied customers
How much is an irrevocable trust? can I still have prop. 13,
how much is an irrevocable trust? can I still have prop. 13 … read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
6,613 satisfied customers
my step mother, Diane, is terminally ill and will pass away
my step mother, Diane, is terminally ill and will pass away within the next month, if not sooner. My father passed away 10 years ago. There is a trust in place while both were alive that is still in e… read more
Barrister
Barrister
Attorney
Doctoral Degree
6,741 satisfied customers
We are thinking about setting up a an irrevocable trust for
We are thinking about setting up a an irrevocable trust for our mother's small estate, which includes a business, some investments and a home. What are the tax implications of doing this ?… read more
Attorney2020
Attorney2020
Lawyer
2,480 satisfied customers
I would like to gift each of my two children $85K this year
I would like to gift each of my two children $85K this year from an after tax family trust account with basically net zero gains and losses. I know that I'm allowed $14K per child without additional t… read more
Barrister
Barrister
Attorney
Doctoral Degree
6,741 satisfied customers
Is it possible before the end of 2012, with no estate or gift
Is it possible before the end of 2012, with no estate or gift tax consequences, set up an irrevocable trust, gift assets of several million dollars, but less than $5 million into the trust. Then, usin… read more
socrateaser
socrateaser
36,459 satisfied customers
Does a quitclaim to a trust still allow the trustee to claim
Does a quitclaim to a trust still allow the trustee to claim separate property rights, or community property rights after the one of the trustees have died? Step Mother wants children of husband to bu… read more
Barrister
Barrister
Attorney
Doctoral Degree
6,741 satisfied customers
Can the founders of a irrevocable trust fund change the
can the founders of a irrevocable trust fund change the trust before they die-do they have any rights after these are set up. Case in point a founder lost his fortune and now his kids will not share t… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
6,613 satisfied customers
I want to create a living trust that upon my death will provide
I want to create a living trust that upon my death will provide for my current Wife, and upon her death insure that my assets go to my children from my first marriage. Can I create a revocable living … read more
Daniel P.
Daniel P.
Managing Attorney
Juris Doctor
2,741 satisfied customers
I want to set up trust funds for my disabled son and for each
I want to set up trust funds for my disabled son and for each of my grandchildren. What are the advantages/disadvantages of an irrevocable over a revocable trust fund?… read more
RobertJDFL
RobertJDFL
Attorney
Juris Doctorate
1,618 satisfied customers
what is involved to create a irrevocable insurance trust and
what is involved to create a irrevocable insurance trust and is it necessary to have a lawyer draw it up? About what would it cost? I live in Texas.… read more
Brent Blanchard
Brent Blanchard
Solo Practitioner
Doctoral Degree
1,964 satisfied customers
Q1 What is the maximum amount of money gift per year that
Q1: What is the maximum amount of money gift per year that each member of the family can give to PER beneficiary? If it's $10,000, then does it mean that a maximum $20,000 can be given to this trust p… read more
Law Educator, Esq.
Law Educator, Esq.
134,895 satisfied customers
Q1 Can my sister, who lives in California, be a trustee to
Q1: Can my sister, who lives in California, be a trustee to this to-be-created Nevada irrevocable trust that I previously asked question? Q2: Since this is irrevocable trust, who will file the tax ret… read more
Thomas McJD
Thomas McJD
Attorney
Doctoral Degree
6,516 satisfied customers
Living trust,three benificiaries,one puts his 1/3 in a trust
Living trust,three benificiaries,one puts his 1/3 in a trust as sole benificiary with his children as trustees.He has full rights to change or terminate for any reason.Now he is in court and finds the… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
My father set up an irrevocable trust that was a Crummey Trust.
My father set up an irrevocable trust that was a Crummey Trust. His adult children did not remove the money from the trust. He has decided he is mad at all of his children and does not want them to be… read more
lwpat
lwpat
Doctoral Degree
6,615 satisfied customers
My mother created a life estate by preparing a new deed that
My mother created a life estate by preparing a new deed that conveyed her home to the names of her children. A grantor trust was created for the remainder beneficiaries. I have now been told that its … read more
socrateaser
socrateaser
36,459 satisfied customers
Financial exploitation. If someone understands this I would
Financial exploitation. If someone understands this I would like an answer. 88 year old grantor two trustee $6.4m Taken on a 6000 mile trip without first seeing a doctor (heart condition and edema) Sh… read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
69,798 satisfied customers

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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