Questions tagged [trusts-and-estates]

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Deceased Parent's Unclaimed Property [on hold]

My mother passed away back in 2015 and we went through probate, and were named the executors and personal representatives of the estate via court documents I'm not too sure why this wasn't found by ...
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14 views

Foundation vs. DAF vs. Trust [migrated]

Is there a mechanism by which you can put aside a lump sum of money (before or after your passing) wherein the money can just sit and earn interest in a safe investment in perpetuity and disbursements ...
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21 views

What kind of “Trust” should I choose when applying for EIN? Roll over assets from account held in parents' Revocable Trust

My parents established a revocable living trust many years ago. Dad died 12 years ago. Mom died 3 weeks ago. One of the assets in the trust is a mutual fund account with Invesco. They are ...
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3answers
117 views

Suspicious Demand Letter - Can I Request Proof of Representation?

I am the trustee for a a special needs trust set up on behalf of a family member. Historically, other family members have used deception or manipulation to get the beneficiary of the trust to release ...
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4answers
208 views

How is property in trustees' hands safe from the trustee's own creditors?

In the context of trust law, trustees are the legal owners of the property in trust. They hold it for the beneficiaries, who are the equitable owners. Even though trustees legally own the property, ...
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1answer
35 views

Company holding own shares in trust

If the assets of a trust includes shares in a company, can that company be appointed as trustee of that trust? It's not clear to me how section 259A of the Corporations Law works in this situation.
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1answer
48 views

Where is the threshold line between legitimate living trusts and ones purported to defeat creditors?

Bob wants to setup a living trust where he is the settlor and the beneficiary at the same time. The trustee may or may not be him. Bob does not owe money to anyone yet, however, he would like to ...
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1answer
191 views

Legal workarounds for testamentary trust perceived as unfair

My mother recently passed away and her will includes a testamentary trust for a portion of the estate designated for her grandchildren. Unfortunately, the terms of this trust seem to unfairly benefit ...
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18 views

trustee deed or warranty deed for revocable trust transfer of real property to 3rd party?

I am buying 10 acres from a seller who owns the land in a revocable trust; he is a trustee. My purchase agreement as written asks him to convey via a warranty deed. This has been called into ...
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2answers
133 views

Can a will be written this way?

My only sibling (sister), both parents and I all live in Maryland. According to my parents' will, after their death, each sibling will inherit half of the total net assets. My concern is that my ...
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1answer
275 views

What are the rights of an estate when a tenant dies in a rental unit?

My uncle died in January. He was renting an apartment month-to-month in Ohio. We are in the process of cleaning out his belongings from his apartment. There will be an estate sale of the majority of ...
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22 views

Ultra vires and termination of a court's general equitable power to supervise an estate?

I've read the definition of the Latin phrase *ultra vires", it means "beyond the powers", per Wikipedia. I'd like to get clarification with an example. Let's say the following happened: A court ...
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13 views

Appropriate releif for improper sale by court-appointed trustee and special fiduciary?

Under Maryland's court rules, a court-appointed trustee and special fiduciary seems required to treat sale of trust real-estate as a judicial sale, imposing pre- and post- sale requirements on the ...
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1answer
84 views

Interpretation of “the document speaks for itself” in answer to a complaint?

I've got a question about the complaint/answer process in the context of Maryland regarding a Trust. (Names changed for privacy) The complaint included as a numbered averment: The Trust ...
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1answer
375 views

If Barefoot v. Jennings is upheld by CA Supreme Court, what recourse would disinherited child have against undue influence by unscrupulous caretaker?

Background My friend (plaintiff) has an open case against her mother's unscrupulous caretaker (defendant). Plaintiff is claiming that the defendant used 'undue influence' against plaintiff's mother, ...
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2answers
283 views

Why California codified “A trustee may not require a beneficiary to relieve the trustee of liability…”?

Full text of California Code Section reads: ARTICLE 1. Trustee’s Duties in General [16000 - 16015] ( Article 1 enacted by Stats. 1990, Ch. 79. ) 16004.5. [click for link] (a) A trustee ...
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1answer
46 views

Death Tax For Trust

A trust was created in California, US whose settlor was living in Oregon, US when he/she passed. The trust assets have been liquidated and all creditors and medical debts paid. Are there any other ...
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102 views

Meaning of Trust Language [duplicate]

Can someone interpret the meaning of the Trust articles in plain English? Is it a normal addition to a Trust? This is a second question about the same topic as another one of my questions but it is ...
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1answer
54 views

How do I protect my child's assets against medical expenses incurred by their potential guardian?

I am in the process of drafting a will for my estate and would like to designate friends of mine as potential guardians for my children in the event of my death. The concern I have is that my friends ...
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2answers
121 views

1000-year trust? (fictional)

PREMISE: I'm writing a novel about a man who creates a legal entity intended to last 1000 years, and I'm not sure how to classify it. For lack of a better word (and total ignorance on my part), I ...
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1answer
181 views

What constitutes elder abuse in the state of Missouri?

My wife has a friend who lives in Missouri, and has power of attorney over her mother, who cannot take care of herself. The mother is in some kind of assisted living home in Missouri, and just got ...
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1answer
45 views

Plain English Follow Up

This is a follow up to my previous question: Plain English Meaning Of Trust Language, which I included a picture of for clarity. The trust article outlines what happens if an heir is deceased but what ...
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2answers
89 views

Plain English Meaning Of Trust Language

Can someone please translate the paragraph means into plan English? The image is taken from a revocable trust.
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1answer
35 views

One Unit Trust with many classes of unitholders: is it possible?

If different assets are contributed to a Unit Trust, say one real estate property in San Francisco and one real estate property in Los Angeles, can the Deed of Trust specify 2 classes of beneficiaries/...
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1answer
42 views

Medicaid Estate Recovery

Can the Oregon Health Authority (OHA), Estate Recovery Unit (EAU) seek reimbursement for Medicaid services rendered after a person is deceased, if their assets are placed in a revocable trust prior to ...
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1answer
59 views

Breach of fiduciary duty for poor management of endowment?

If the board of trustees of a private university keeps investing the endowment through an expensive firm run by their friends, despite substandard performance, could a case be made for breach of ...
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1answer
72 views

Beneficiaries as creditors [closed]

In my mother's estate there are 5 beneficiaries. When my mom passed away we were unable to get a check from the bank until her will was probated, so we all put in the money for my mother's burial and ...
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3answers
86 views

Under U.S. law, can an estate's executor be penalized for accidentally losing a document before the estate is closed?

What legal penalty might apply in a situation where documents were lost by accident before settling or closing an estate? Would there be civil or criminal penalties if, some but not all, documents (...
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1answer
236 views

In Washington state, what can beneficiaries of a will do if the executor does not notify them?

My aunt died six months ago. She was married and without children. In hospice care she said she had left things behind for her brothers and sisters in her will. Also during this time, her surviving ...
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2answers
243 views

Can a sibling contest a life insurance policy?

My step father had several insurance policies in some of which he listed his daughter as the beneficiary and on the rest he listed his son, who is my younger brother. Can his sister from a different ...
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1answer
46 views

Company wants to hold funds for customers

Are there any licensing or special bank account requirements for our company to hold funds for a customer and later deliver those funds back to the same customer? Similar to a savings account but for ...
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1answer
135 views

Does a property given to a spouse in a first marriage still get shared in a death after a second mariage?

Does a property given to a spouse in a first marriage still get shared after a death in the second marriage that was out of community of property with accruals? Backstory A husband was married to ...
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1answer
234 views

Does a deed supercede a will when a house is transferred to one sibling?

I have been taking care of my elderly mom who has dementia the past three years basically with no help from siblings. I live with my mom . She transferred the house to me. We did a life estate. I am ...
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1answer
552 views

Who is responsible for the property expenses with a life estate which is owned by tenants in common, when not all of the owners live on the property?

If a property is owned by tenants in common but has a life tenant (who does not own the property so there are three parties involved) who is responsible for outgoings such as rates and repairs? If ...
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1answer
45 views

settling an estate when named party is missing

Son/daughter who is a named recipient in will/trust broke off all communication a decade ago, whereabouts unknown despite parents/siblings searching (without legal/professional help). How would this ...
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1answer
88 views

To what extent can a trust be used to safeguard your assets against alimony

So in my reading I've come across a case (Prest v Petrodel) where a man wholly owned several companies, and purchased property in their name, but basically treated it as his property. Anyway, it ...
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2answers
109 views

Estate Trust and Obligations to Inform Beneficiaries

I understand that a trustee is obligated to execute the terms of a trust and manage the trust assets on behalf of the beneficiaries. However, if the beneficiaries are not aware of certain details, it ...
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1answer
147 views

Is the estate I administer entitled to money after foreclosure of a destroyed house?

I am the administrator of an estate in upstate New York. Unfortunately, there is effectively no money in the estate which would allow me to hire a lawyer, so I'm hoping you folks can help. By the ...
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1answer
194 views

Family trust but probate (informal or formal?) needed

(Based on @ohwillieke's answer, I've updated this to clarify the facts) Family trust: was set up by parents as a revocable living trust. had "upon death" instructions to transfer all to beneficiary #...
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2answers
537 views

Is it possible to create a trust without any beneficiaries

Is it possible to create a trust without any beneficiaries or one in which the beneficiaries could not 1) change the terms of the trust, and 2) retrieve anything from the trust?
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11k views

Sister is living rent free in inherited property. Should she pay rent to other sibling?

My father died in Jan 2015. My sister moved in with my mother Feb. 2015 to care for her. In April, 2015 my sister sold her home. She was now mortgage free. The following month, my mother added my ...
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1answer
145 views

Can a California living trust give the trustee authority to distribute assets to beneficiaries on an as-needed basis?

I am the trustee of two California trusts: the first has 5 beneficiaries and the second has 8 beneficiaries. Both trusts grant me the power to withhold distributions to beneficiaries prior to their ...
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1answer
51 views

Help re: beneficiary deed enforcement in Phoenix, AZ (Maricopa County)

My mom owned a home with her boyfriend (an attorney), and she passed away in Nov. 2015. Mom was his legal secretary for many yrs prior to her illness. She filed a beneficiary deed in 2014 to give ...
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1answer
3k views

NJ Estate: is there a time frame for settlement and distribution?

I'm a beneficiary in an estate in NJ with another beneficiary (my brother who I don't talk to) that is the executor. We both get a 50% share. All assets have been disposed of and now there is nothing ...
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2answers
54 views

Conflicting wills in case of a small business

Two business partners make a signed and notarized agreement that if either dies or becomes permanently disabled then the other inherits that share of the business. One of the partners dies and is ...