Is a Limited Power of Appointment in a Trust still considered countable “control” over assets? Are contents of Trust at risk?
ADDITIONAL INFORMATION: My father created an Irrevocable Trust (with multiple assets and properties in it), where I (his son) am the Trustee; but in looking it over I noticed a potential issue: it says he has a Limited Power of Appointment (to add/remove Trustees, Beneficiaries, etc.), which, to me implies a level of “control” over […]
How can I get my son’s name off my deed?
ADDITIONAL INFORMATION: I put my son’s name on my deed so he would have no problem in case I died. I am trying to get a reverse mortgage and cannot obtain it with him on my deed and he will not take himself off. What can I do? ANSWER BY MARGARET CROSS-BELIVEAU: Unfortunately, once you […]
Can I do a will to allow my fiancée to remain living in my house up to a year, if then the house would go to my children?
ADDITIONAL INFORMATION: I am currently engaged and my fiancée lives with me. I would like to have a document that states she can live in the house for up to a year, should I die before her, and after that my children would get the estate. ANSWER BY MARGARET CROSS-BELIVEAU: Yes, you can give her […]
What are my rights as an owner of a remainder interest?
ADDITIONAL INFORMATION: My dad gifted me his house but reserving a life estate. Can he rent the house or call the police on me to leave the home? ANSWER BY MARGARET CROSS-BELIVEAU: Yes. Life tenant has reserved the right to live there and the proceeds of income of the property until his death. Unless his […]
Are miles driven doing paid favors to friends tax deductible?
ADDITIONAL INFORMATION: For example if my roommate payed my $5 to drive a mile down to Walmart to pick up something would those 2 miles be deductible? To a greater extent if I went to Florida for a trip and my brother pays me to catch him a rare pokemon on pokemon go and our […]
Can an estranged wife who disappeared more than 30 years ago challenge a will in relation to real property in Florida?
ADDITIONAL INFORMATION: I am helping an elderly disabled friend who fears his wife who disappeared more than 30 years ago may reappear after he dies and cause problems. He wants to will his home to a friend. To his knowledge, she knows nothing of the property where he had lived since shortly after she left. […]
Can I change the amount someone is to inherit in my will without a lawyer?
My will is worded to leave nothing to my son, and any of his heirs. I’ve heard that they can contest if you leave nothing, but if you leave as little as a dollar, they can’t contest it. ANSWER BY MARGARET CROSS-BELIVEAU: A will can include a no contest provision which states that if any […]
If I made a will and testament and what happen if I got divorced?
If I get a divorce then my will and testament get revoked?? ANSWER BY MARGARET CROSS-BELIVEAU: Once the divorce is finalized, any provision leaving assets to your ex would be null and void. Filing for the divorce is not enough to disinherit your soon to be ex. It would be best to be proactive and […]
How to Avoid Estate Tax
Estate tax, also known as the “death tax,” is a tax on the transfer of property upon your death. It can be a significant burden for your loved ones, as it can eat into the assets you intended to leave for them. Fortunately, there are several strategies that can be employed to minimize or even […]
How to Protect Your Home from Potential Nursing Home and Long-term Care Expenses
As estate planning attorneys, we often receive inquiries from clients regarding how to protect their homes from potential nursing home and long-term care expenses. Long-term care can be extremely expensive, and the cost can easily exceed the average person’s life savings. Fortunately, there are several strategies that can be employed to protect your home and […]
