trust

What Happen if my Trustee could not perform the duties due to illness, and what happen if she die.

ADDITIONAL INFORMATION: My husband past away on last end of year. he pointed 2 persons for successor trustees. one of them already past away 7 years ago. and the estate attorney filed pleadings to appoint other one to be my trustee. Now, I have a question, my trustee has serious health condition ( heart disease) and she could not perform any duties. (basically I have to do everything for her) so I would like to know

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Can a person legally take communications/documents from another person’s home without their knowledge/permission?

ADDITIONAL INFORMATION: My mother lives in a house that is in a trust and was formerly a trustee of that trust. She kept hard copies of all her communications with other trustees (before and after her time as trustee) and various copies of trust documents in her office. A beneficiary of the trust recently revealed that they went into her office and took all communications/documents and have been keeping them at their house. I am another

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Will I have to pay income tax on my Mothers house that was in a revocable trust?

ADDITIONAL INFORMATION: I am sole heir in my Mothers revocable trust. She died in 2016, I sold her house in 2016. Will I have taxes to pay? ATTORNEY ANSWER BY MARGARET L. CROSS: Upon your mother’s death, the home receives a step up in basis to fair market value. By placing and selling the home on the market soon after your mother’s death, the basis will be presumed to be the selling price. You should consult

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How do I get a copy of my deceased mother’s will? Does a trust take prejudice over a will ?

ADDITIONAL INFORMATION: I’m an heir in the will as well as the trust. I’ve never received a copy of the will (from the executors) nor the trust ( from the trustees) ATTORNEY ANSWER BY MARGARET L. CROSS: A will and a trust work hand in hand. They do not cancel each other out. A will may establish a testamentary trust or it may fund a trust which your mother created during her lifetime. Have your requested

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I have a will but want to provide for my nieces and nephews, do I need to establish separate trusts for each of them?

ADDITIONAL INFORMATION: All of my nieces and nephews are under the age of 18. I want to be sure that they are the direct beneficiaries. I also want to prevent my drug addicted brother from getting any of the funds. ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: You should establish a trust and fund it during your lifetime. Upon your death, the assets will be held or distributed as you have directed in the trust. The trust

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If there is a family trust, does the land in the trust have to be redeeded when 1 member dies?

ADDITIONAL INFORMATION: There is a family trust that holds land (it’s only asset) and 1 of the members died leaving his share to his child. Does the land need to be re-deeded to include the child who is an adult? ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: The trust owns the real estate. If a Trustee dies, that death is addressed on the deed transferring the real estate out of the trust, whether by a sale to

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If a person has nothing in his name he is to inherit property &business can a lien be put on his inheritance if convicted of personal injury?

ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: Has the person died yet? If not, my answer would be for the grantor to change his Will and/or trust so that the assets are not transferred to you. The grantor should create a spendthrift trust for your benefit. This means that you have no right to the assets. The Trustee may make distributions to you but would not be required to do so. Those assets could not be touched

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Which prevails, bank registration or trust document?

ADDITIONAL INFORMATION: If a bank has an INVESTMENT ACCOUNT titled “Transfer on death” to one beneficiary and a Living Trust document (unfunded) lists the INVESTMENT ACCOUNT as trust property to another beneficiary, which document prevails? The Grantor is deceased. ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: A trust must be funded in order for it to do any good. A trust may be funded either during a person’s life, which is the least costly way, or via

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I Am In Trust With Myself And Wife And A Church I Understand We Can Break The Trust If Both Party Agree What Type Of Attorney Do I Need

ADDITIONAL INFORMATION: The Trust Has 375.00 In It What Would Be A Fair Asking Price I Am 70 and My Wife Is 64? ATTORNEY ANSWER BY MARGARET L. CROSS: Most trusts have a small share article which allows the Trustee to make a final distribution to the beneficiary of a trust if the cost of administration of the trust is disproportionate to the value of the trust. With only $375, it certainly qualifies. Is it even

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