Question: Mom owned a life insurance policy on my father, who recently passed away. They named us kids as the beneficiaries. There was some cash value. When Mom eventually applies for Medicaid, [...]

Question: My sister and I are co-trustees of our parents’ trust, who are both now deceased. Are the administrative fees, which we both want to collect, considered separate from the trust? [...]

Question: My wife and I have an estate worth just less than the current federal estate tax limit, so I do not worry about US estate taxes. We have no children and plan to have a family member as [...]

Question: Brother and sister owned highly-appreciated real estate jointly with rights of survivorship.  Sister passed last year so now brother owns it 100% and would like to move it to an [...]

Question: I would like to try and provide proper care for my spouse. My question is: Is there anything in Medicaid criteria that would prevent me from divorcing my spouse so that he can qualify [...]

Question: I am a US citizen, living in California. I am planning to return back to the Czech Republic, where my son lives. He is a non US citizen. My assets are my savings account, CDs, my [...]

Question: Can I borrow money on our house if it is in an irrevocable trust? Response: Probably not. The trust itself may or may not permit you to borrow, but no bank will loan money or take a [...]

Question: Should your trustees on your revocable trust be the same people as those named on your durable power of attorney? Do you recommend bank trust departments for powers of attorney? [...]

Question: When issuing a K-1 to a trustee of a decedent’s irrevocable trust for trustee fees, how should this be reported? Should it be reported as Other Portfolio and non-business income? [...]

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 [...]