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My Mother passed away which resulted in an Irrevocable Trust
My Mother passed away which resulted in an Irrevocable Trust Being funded with a life insurance policy and proceeds from her house. The entire trust was then split into trusts for each child less abou… read more
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Question regarding types of trusts: my husband and I are
Question regarding types of trusts: my husband and I are interested in setting up a trust. The purpose is: (1) to avoid probate in the event of death; and (2) for some assets, to shield from liabiliti… read more
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My father passed away last January, all his assets were in a
My father passed away last January, all his assets were in a trust and I have trusteeship over them, however while I was trying to get payment on his life insurance policy; the company required me to … read more
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My dad passed and has a living trust, I am the trustee and
My dad passed and has a living trust, I am the trustee and my younger brother is going to buy the house from the trust, I then plan to distrubute the funds to the 5 other brothers. with a new basis is… read more
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Wow! hope you have some insight. grantor of irrevocable
wow! hope you have some insight. grantor of irrevocable trust passed away in decembe 2017. deferred annuities owned by trust redeemed , but payment not received until 2018 … read more
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I am the trustee and beneficiary of an ILIT. Irrevocable
I am the trustee and beneficiary of an ILIT. Irrevocable Life Insurance Trust. The proceeds will be deposited into the trust from the insurance company. My question is what is the correct way to withd… read more
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My wife's mother was the beneficiary of an irrevocable
My wife's mother was the beneficiary of an irrevocable trust. That trust was set up by my wife's mother's mother in her will. Confusing huh? My wife's grandmother established a trust in her will for m… read more
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My mother died December 21, 1916. She had a trust set up and
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For tax purposes, does it make more sense for an ILIT to
For tax purposes, does it make more sense for an ILIT to have its own EIN or to use the SSN's of the minor beneficiaries?… read more
Lev
Lev
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Well my father passed away in 2015. In 2016 we sold his
well my father passed away in 2015. In 2016 we sold his house in Florida that was in the name of my Mother's trust. Myself and my bother split the proceeds to pay for/put a down payment on our current… read more
Lev
Lev
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My mother just passed away recently, and among other things,
Hi my mother just passed away recently, and among other things, she left a few CD'S for my sister and I to split. The CD's were opened in trust for us and we are the only beneficiaries as well. My que… read more
Lev
Lev
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I have a tax question. My brother is one of 5 beneficiaries
I have a tax question. My brother is one of 5 beneficiaries of my late mom's trust. We have agreed to a buy-out from him. The only asset is 1/2 of a home that he was T-i-C with my mom. Therefore he is… read more
Lev
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My mother passed away in 2007. Her house has been in an irrevocable
My mother passed away in 2007. Her house has been in an irrevocable trust. It was free & clear. We sold it in June 2013 at basically a loss. The fmv was $247k in 2007 & it sold in 2013 for $150k. That… read more
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Father died in 2012, Mother dies in 2013. College age kid is
Father died in 2012, Mother dies in 2013. College age kid is only child. Mother had grantor revocable family trust while alive. Assets were a rental property and some checking accounts. Trustee applie… read more
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Lev
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Bachelor's Degree Equivalent
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I am a Trustee. My mother left her house valued at $300,000
I am a Trustee. My mother left her house valued at $300,000 (rounded for ease of math). Four years later we sold the home for $450,000. We put $75,000 into improvements and the sales cost was $25,000.… read more
Lev
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I have a friend that her husband passed away and he had a life
I have a friend that her husband passed away and he had a life insurance policy in which she is the beneficiary. Her husband also had a revocable trust that he was the trustee and after he died his wi… read more
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Lev
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I have several questions I am the trustee of a revocable trust.
I have several questions I am the trustee of a revocable trust. I was given an ein number from the irs and was told it expires at the end of december.Does this mean that i have to disperse all monies … read more
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Lev
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For a person who dies and has a Trust Agreement, what is the
For a person who dies and has a Trust Agreement, what is the process for establishing the estate? Is there a process to establish the Trust and how long would it take for the beneficiary (Trustee) to … read more
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