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 and 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 from [...]
Question: What is the procedure for a trustee who has successor rights, to take over as trustee? Response: Typically, the named successor trustee to a trust does not take over until the existing [...]
Question: Are beneficiaries of a trust governed by Indiana law, but administered by an entity in Ohio, permitted to get written information from that institution with specific regard to [...]
