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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Author Archive for: "harry"
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 What Documentation is Needed to Show HEMS Standard in Trust was Followed?
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By Harry Margolis
In Irrevocable Trusts
Posted March 29, 2023

What Documentation is Needed to Show HEMS Standard in Trust was Followed?

Question: My husband and I both set up Spousal Lifetime Access Trusts. The trusts state that the trustee may distribute to the beneficiary as much of the income and principal as such trustee may [...]

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 Should I Set Up a Special Needs Trust or ABLE Account for My Inheritance?
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By Harry Margolis
In Special Needs Planning
Posted March 27, 2023

Should I Set Up a Special Needs Trust or ABLE Account for My Inheritance?

Question: I am having some negative luck with getting advice about trusts. I am on SSDI. My disability, juvenile rheumatoid arthritis began when I was three years old. I am now 62. I applied for [...]

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 Should QTIP Trust have Independent Trustee?
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By Harry Margolis
In Estate and Gift Taxes, Revocable Trusts
Posted March 24, 2023

Should QTIP Trust have Independent Trustee?

Question: If we have QTIP trusts in our joint revocable trust to protect a surviving spouse from a second marriage gold digger or second marriage divorce, can the surviving spouse serve as the [...]

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 How Do I Calculate the Capital Gain on Sale of Inherited Property?
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By Harry Margolis
In Probate, Real Estate
Posted March 22, 2023

How Do I Calculate the Capital Gain on Sale of Inherited Property?

Question: I inherited lake shore property (vacant land–no house) that I am now selling. How do I figure the capital gains on the sale? Response: The capital gain will be the difference [...]

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 Must We Pay Taxes on Capital Gain on Sale of House in Trust?
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By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted March 20, 2023

Must We Pay Taxes on Capital Gain on Sale of House in Trust?

Question: We recently sold my father’s home which was in a trust. My sister lived with my father from the 1990 until my father died in 2005, and continued to live at the property until 2022 [...]

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 Can My Son Buy My Mother’s House Despite Reverse Mortgage and Medicaid Lien?
1
By Harry Margolis
In Long-Term Care Planning
Posted March 17, 2023

Can My Son Buy My Mother’s House Despite Reverse Mortgage and Medicaid Lien?

Question: My mother had a reverse mortgage and she went into a nursing home and received Medicaid for no more than 7 months before she passed away. Now, I have received a letter from the state of [...]

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 Does My Client Need Separate Wills for Property in India and the U.S.?
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By Harry Margolis
In Non-US Citizens, Property in Other Countries
Posted March 15, 2023

Does My Client Need Separate Wills for Property in India and the U.S.?

Question: My client is an Indian citizen and has already executed a will in India. While in India, she accumulated stock in the United States. Her Indian will has her dad, mom, and daughter as [...]

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 How Do I Move Trust Funds to a New Bank?
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By Harry Margolis
In Revocable Trusts
Posted March 13, 2023

How Do I Move Trust Funds to a New Bank?

Question: We have a living trust in a bank which has a very small interest rate. Can we transfer this account to a high interest account at another bank. How do we do this? Response: Yes. You [...]

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 What are Tax Implications of Long-Term Trust for Non-U.S. Beneficiaries?
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By Harry Margolis
In Non-US Citizens
Posted March 10, 2023

What are Tax Implications of Long-Term Trust for Non-U.S. Beneficiaries?

Question: I represent a 90-year-old U.S. citizen that lives in Florida and has never been married and has no children. He would like to leave his estate, which consists of cash, stocks, and bonds [...]

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 Is Co-Owner of Apartment Building Entitled to Reports on Its Management?
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By Harry Margolis
In Real Estate
Posted March 9, 2023

Is Co-Owner of Apartment Building Entitled to Reports on Its Management?

Question: My sister owns half of a seven-unit apartment building with my brother. She wants quarterly reports and wants to be part of the decisions made with building, but my brother’s [...]

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page 1 of 62
Categories
  • Asset Protection (34)
  • Charitable Giving (10)
  • Durable Powers of Attorney (44)
  • Estate and Gift Taxes (56)
  • Guardianship and Conservatorship (5)
  • Health Care Directives (13)
  • Irrevocable Trusts (52)
  • Long-Term Care Planning (173)
  • Non-Traditional Families (16)
  • Non-US Citizens (27)
  • Pets (4)
  • Practical Matters (15)
  • Probate (38)
  • Property in Other Countries (5)
  • Real Estate (69)
  • Retirement Plans (19)
  • Revocable Trusts (102)
  • Second Marriages (11)
  • Social Security (18)
  • Special Needs Planning (70)
  • Trustee (52)
  • Vacation Homes (3)
  • Wills (50)
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Harry Margolis book: The Baby Boomers Guide to Estate Planning

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Putting off planning your estate?

This simple-yet-comprehensive guide provides everything you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book

Read Sample Chapters

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