Question: My wife and I have separate trusts made in Colorado in 2014. We moved to Missouri in 2015. I don’t want to pay for new trusts, so what should I do, if anything, to make sure they [...]
Question: Which Massachusetts tax form do I file for a nominee real estate trust? The only income is interest earned of $1,600 from the proceeds sitting in a bank account until they were [...]
Question: We have a home equity line of credit on our home, on which we owe $6,000 now. If we deeded it to a revocable trust to pass to our children upon our deaths, could we still borrow on the [...]
Question: Would successor trustee powers for financial and health management on incapacitation of primary trustee in a revocable trust obviate the need for a springing power of attorney when the [...]
Question: Enjoying your book (Get Your Ducks in a Row: A Baby Boomer’s Guide to Estate Planning). At page 105. I already have my estate documents including a pour over will, revocable [...]
In choosing a trustee, the considerations are somewhat different depending on whether your trust is revocable or irrevocable. If you have a revocable trust, you will probably serve as its [...]
Question: In trust documents, my cousin, the settlor, specifically has a clause that states I can eliminate any beneficiary that contests. I did remove one beneficiary. He is now suing me, saying [...]
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 when 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: [...]
