Question: I am co-trustee of a revocable trust with my elderly mother, the grantor trustee. I have been actively managing the trust. She recently made an amendment to the trust independently with [...]
For the most part, trusts don’t pay taxes on their income, instead passing the income through to the trust beneficiaries. But where they do pay taxes, the tax rates are often higher than [...]
Question: If I transfer real estate into a regular trust, does it constitute a sale and result in capital gain tax and property basis step-up? What if I transfer it to a nominee trust? Response: [...]
Question: My father lives in Los Angeles. I live in Canada. I am the trustee of his Health Care Living Trust as he is incapacitated. I am also the POA and sole beneficiary of his will. I fly back [...]
Question; What is a standard trust protector fee? Is it paid every year or only when the protector’s services are requested? Response: Typically, trust protectors are either family members [...]
Question: Is a living trust required to include a Trust Protector? Response: No. Trust protectors are typically used in irrevocable trusts, rather than revocable ones, and even then they’re [...]
Question: My wife’s sister is trustee of their deceased dad’s estate which totals about $700,000. There are four equal sibling beneficiaries, including the trustee. The trustee is [...]
Question: What is an acceptable trust fee in the State of Utah? I manage a trust for my Mom. I spend two hours per year on management duties. There is a bank account, Apple stock, and a [...]
Question: What would be the typical cost of a bank administering a trust set up with quarterly distributions that could last 10 years? Response: It depends largely on the amount you will have in [...]
Question: Our home loan is paid off. We have our home in a trust for our children to receive in the event of our death. Can we take out a home equity loan on our home? Do we have to remove it [...]
