Question: Is a trustee fee paid to the wife from her husband’s Revocable Trust taxable income to be reported on a married filing jointly federal tax return? Response: Arguably yes, but I [...]

Question: My trustee charges me for phone calls and responding to my emails – is this legal? Response: Yes, unless it adds up so much that a court would find the total charges unreasonable. [...]

Question: I am trustee of an irrevocable trust holding $25,000. I now want to cash out the trust — half to my brother, the other half to me. What kind of tax do I have to pay in New York? [...]

Question: I served as trustee and POA for a friend who was ill for over 4 years. The estimated assets were approximately $2 million at the time I assumed responsibilities for her 12 registered [...]

Question: I would like to set up a trust in my mothers name. I am her POA and health advocate. Mom was able to get Medicaid this past May and my promise was to keep her in her home and avoid a [...]

Question: My son, George, now age 49, lives in Massachusetts. He was disabled in a mountain biking accident ten years ago which left him paralyzed from the waist down. Although he has [...]

Question: Can the ownership of a whole life insurance policy be changed to a funeral home to make someone Medicaid eligible prior to the application being submitted without penalty? Response: [...]

Question: In a probate estate where a husband dies intestate leaving a wife and two children (a minor child who is also the child of his widow and an adult child who is the child of a prior [...]

Question: My brother and myself are the trustees of an irrevocable family trust from my deceased parents in Maryland. The trust has 5 beneficiaries (5 siblings). We just sold and closed on my [...]

Question: I am 55, live in New Jersey and received Medicaid. I have a 14-year-old child living with me. I own a house. If one day I pass away, will the state seek estate recovery for the money I [...]