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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

Tag Archives for: "family member trustee"
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 Can My Husband Remove His Sister as Trustee of His Trust?
2
By Harry Margolis
In Trustee
Posted August 12, 2020

Can My Husband Remove His Sister as Trustee of His Trust?

Question: My brother-in-law passed away. His sister was his power of attorney and a trustee of a special need trust. After she became p-o-a she changed his beneficiary of an iron worker’s [...]

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 How Do You Choose a Trustee?
2
By Harry Margolis
In Revocable Trusts, Trustee
Posted March 13, 2020

How Do You Choose a Trustee?

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 [...]

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 Can Sister who is Trustee of Large Trust be Forced to Return Trustee Fee?
0
By Harry Margolis
In Trustee
Posted March 8, 2020

Can Sister who is Trustee of Large Trust be Forced to Return Trustee Fee?

Question: My sister is trustee of my mother’s trust. There were assets of approximately $16 million gross. My sister has taken trustee fees totaling $175,000. She initially told all the [...]

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 Is a Trustee Entitled to Compensation?
2
By Harry Margolis
In Trustee
Posted February 14, 2020

Is a Trustee Entitled to Compensation?

Yes, trustees are entitled to compensation. After all, they perform important services with a high degree of responsibility and potential liability. Nevertheless, when family members serve as [...]

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 Who has Duty to Give Trustee Copy of Trust Amendment?
0
By Harry Margolis
In Revocable Trusts, Trustee
Posted February 8, 2020

Who has Duty to Give Trustee Copy of Trust Amendment?

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 [...]

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 Can I Charge for My Time as Trustee for My Father?
0
By Harry Margolis
In Long-Term Care Planning, Revocable Trusts
Posted December 10, 2019

Can I Charge for My Time as Trustee for My Father?

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 [...]

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 Can a Trustee be Paid as a Gift and Not Incur Income Taxes?
0
By Harry Margolis
In Probate, Revocable Trusts, Trustee
Posted November 22, 2019

Can a Trustee be Paid as a Gift and Not Incur Income Taxes?

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 [...]

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 What May a Family Trustee Charge for a Very Simple Trust?
0
By Harry Margolis
In Revocable Trusts, Trustee
Posted November 15, 2019

What May a Family Trustee Charge for a Very Simple Trust?

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 [...]

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  • Asset Protection (34)
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  • Irrevocable Trusts (51)
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  • Second Marriages (11)
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  • Special Needs Planning (70)
  • Trustee (52)
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