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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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Trustee

Home / Irrevocable Trusts /
 What Happens to My Trust If I Move Overseas?
0
By Harry Margolis
In Irrevocable Trusts, Trustee
Posted November 13, 2024

What Happens to My Trust If I Move Overseas?

Question: I have an irrevocable trust and I am moving to Spain to retire. Can my trustee still pay me monthly income and remain my trust company? Response: Yes, that should be no problem. But [...]

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 When are Trustee Fees Paid?
21
By Harry Margolis
In Revocable Trusts, Trustee
Posted September 14, 2024

When are Trustee Fees Paid?

Question: When are Trustee Fees Paid? When are trustee fees normally paid? (i.e. end of year, beginning of year, prorated monthly?) Response: There’s no hard and fast rule, but often [...]

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 Can Trustees of My Trust Require that I Give Them My Medical Records?
0
By Harry Margolis
In Special Needs Planning, Trustee
Posted October 25, 2023

Can Trustees of My Trust Require that I Give Them My Medical Records?

Question: Do the trustees of my dad’s legacy trust need my medical records, along with my benefits letter? Response: Perhaps, though that does sound a bit intrusive. While I haven’t seen the [...]

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 Will the Fees I Earn as Trustee Affect my SSDI Eligibility?
0
By Harry Margolis
In Special Needs Planning, Trustee
Posted October 18, 2023

Will the Fees I Earn as Trustee Affect my SSDI Eligibility?

Question: I am the trustee of an irrevocable trust. I am also on SSDI. Will my trustee pay be included as income. Will it affect my SSDI? Response: Probably not. Unlike Supplemental Security [...]

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 Can Trustee Fee Be Contributed to IRA?
0
By Harry Margolis
In Retirement Plans, Trustee
Posted January 16, 2023

Can Trustee Fee Be Contributed to IRA?

Question: Is the trustee fee I received income that I can use to calculate my IRA contribution in the same year? Response: Yes, it is earned income that must be reported on your tax return and, [...]

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 In What State Should Trustee File Return for Out-of-State Trust?
0
By Harry Margolis
In Irrevocable Trusts, Trustee
Posted April 29, 2022

In What State Should Trustee File Return for Out-of-State Trust?

Question: I live in New Mexico and am the sole trustee of a trust created in Colorado which is also where over 90% of the trust assets are located. I am paid compensation. To which state do I owe [...]

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 Must Small Irrevocable Trust File Tax Return and Issue K-1s?
6
By Harry Margolis
In Irrevocable Trusts, Trustee
Posted March 14, 2022

Must Small Irrevocable Trust File Tax Return and Issue K-1s?

Question: Dad died in 2021 in Florida. He was the grantor of a revocable trust and I (daughter) was the trustee. My understanding is that upon his death, it became an irrevocable trust. When he [...]

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 How Can I Leave My Estate to My Non-Citizen Sibling Who Lives Overseas?
4
By Harry Margolis
In Durable Powers of Attorney, Non-US Citizens, Trustee, Wills
Posted November 22, 2021

How Can I Leave My Estate to My Non-Citizen Sibling Who Lives Overseas?

Question: I am a American citizen and want to leave my house/money in bank/stock and life insurance benefits to a sibling in another country.  Who would I talk to get this process started? A [...]

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 Can a Trust Hold Funds in a Low-Cost Investment Account in Order to Reduce Costs?
0
By Harry Margolis
In Trustee
Posted July 13, 2021

Can a Trust Hold Funds in a Low-Cost Investment Account in Order to Reduce Costs?

Question: My siblings have an irrevocable trust with a few million dollars in stock assets. Is there a place to avoid the fee of parking the assets outside of a trust manager? We don’t want [...]

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 How Can I Stop Overcharging Trustee Immediately?
0
By Harry Margolis
In Trustee
Posted June 24, 2021

How Can I Stop Overcharging Trustee Immediately?

Question: The guy who’s trustee of my fathers estate  has billed the estate $257,490. This is from August 2nd 2019, until today. And he has tapped into the IRA still there. So I guess my [...]

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Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book
(An Amazon Prime Reading selection)

Read Sample Chapters

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