estate planning

What is the difference between a durable power of attorney and a power of attorney?

ADDITIONAL INFORMATION: My mother is 88 years old. She would like help paying bills, being a representative for her with her bank and other creditors. What type of form do I need? ANSWER BY MARGARET CROSS-BELIVEAU: A power of attorney is a document which gives an agent the ability to make financial decisions for the principal for a certain transaction or period of time. It will cease to be valid if the principal becomes disabled. For

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Will my father lose his home??

ADDITIONAL INFORMATION: My father is 80 years old and his wife Gracie is 72. They have been married for 32 years. My father has 3 children with my mom, he and his wife have no children together and she had no other children previously. She owned their home when they got married and they have had several subsequent mortgages; currently they are upside down in mortgage debt. Gracie has bequeathed the home to family members other

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My husband and his mother own a two family house what happens if one of them dies?

ADDITIONAL INFORMATION: My husband and his mother bought a two family 20 years ago I just married my husband five years ago he has no children of his own his mother has five children what happens with the house if one of them dies? Thank you…They are both pretty ambivalent about seeing a lawyer they seem to think everything will just work out. ANSWER BY MARGARET CROSS-BELIVEAU: It depends on how your husband and mother-in-law took

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Must a trustee transfer the title of a home he inherited (currently in a Trust) before selling it?

ADDITIONAL INFORMATION: My friends brother was “willed” a home from his Father. His Father setup an irrevocable trust to handle his assets after death. My friends brother kept this property within the trust for almost 24 months, expensing taxes, repairs and other items as trust expenses, then sold the house directly from the trust and is now claiming 100% of the proceeds of the sale of the house. In other words, he charged the trust $20k

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How do I make the Trustee of my irrevocable Trust make good on an addendum that was written into the Trust?

ADDITIONAL INFORMATION: The trust states at ages 21, 25, and 35, I could withdrawal certain percentages of the principal for family needs.  At age 25 instead of taking 33% of 1.4 million, I agreed to purchase a home, go on vacation, and buy my now wife wedding ring. In the addendum, it states if I would like to purchase the home that I’m living in now I can have the opportunity to do so for $100,000. 

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How do I get power of attorney and what is the average cost?

ADDITIONAL INFORMATION: My mother has Parkinson and dementia. She was recently hospitalized and is currently in a rehab center. I have always paid her bills and taken care of her even before the dementia. I am trying to get her help but I’ve come with the stumbling block (I don’t have P of A). I need to get this done but I first need to know the average cost. ANSWER BY MARGARET CROSS-BELIVEAU: If your mother

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Can I correct my name in a living trust?

ADDITIONAL INFORMATION: My mother had a living trust made in 2002. The account who did the living trust had passed away in 2014. My mother passed away in Oct.2017. He put my name as Maria. My name is Marie. ANSWER BY MARGARET CROSS-BELIVEAU: The revocable trust because irrevocable upon your mother’s passing.  There is no changing it now. A one letter difference in a name is not a fatal error.  It is called a scrivnor’s error. 

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Can a Will be written to say that a home is left to remaining siblings but if they die their share goes back to the others?

ADDITIONAL INFORMATION: My husband owns his family home (he does not live there). His brother lives there. He wants to put in his Will that the house is left to his seven brothers and sisters. He wants this house to remain in the family. He does not want any spouse or dependents to get this property. It’s like the last one standing will get the house. Is there any legal way to address this in a

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