Question: I am the sole successor trustee and sole beneficiary of my mother’s Massachusetts grantor trust. She passed away in 2022. Her domicile was Massachusetts. My domicile is Rhode [...]
Question: In Massachusetts, does the schedule of beneficiaries have to be signed by the beneficiaries? Response: Typically, yes. But there’s actually no law on this. So the answer depends [...]
Question: Would a bank grant a refinancing or line of credit to the mortgage of a house held in a nominee realty trust? There are two people named on the schedule of beneficiaries. Response: [...]
Question: My brother and I are the trustees of a “Nominee Trust.” We sold the property held in the last month. The trustees and two other brothers, total four, are the beneficiaries [...]
Question: Is there a homestead law in Massachusetts? What are the pros and cons to register for homestead? When a house is in a nominee trust with two separate trusts (one for each child) listed [...]
Question: About 15 years ago, my Dad, my brother and I quitclaimed our share of four properties into a nominee trust in Massachusetts. My sister didn’t put her share into the trust. The four [...]
Question: The schedule of beneficiaries on our nominee realty trust is missing. I am the trustee and want to sell property. Proceeds are directed to go to a church. I can’t seem to get a straight [...]
Question: I am the trustee for a nominee trust that holds a family home and trustee for a family trust which is listed on the schedule of beneficiaries of the nominee trust. Do I need the [...]
Question: Do nominee realty trusts have to go through probate? Response: Theoretically, yes, but in practice, no. To understand this distinction, we’ll have to start with an explanation of [...]
Question: I am a beneficiary in a nominee trust of a house and have a question about capital gains taxes. My parents bought the house in 1970, and set the trust up in 1990 for my 3 siblings and [...]