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Questions tagged [trusts-and-estates]

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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
155 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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0answers
13 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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0answers
10 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
62 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
193 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
116 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
34 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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1answer
47 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
46 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
96 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
57 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
42 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
58 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
26 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
29 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
49 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
65 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
71 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
115 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
127 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
44 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 ...
5
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0answers
87 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 in a death after a second mariage that was out of community of property with accruals? Backstory A husband was married to his ...
2
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1answer
160 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
357 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
42 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 ...
1
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1answer
77 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 ...
3
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2answers
88 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 ...
1
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1answer
128 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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0answers
44 views

Revocable Living Trust exists but now credit union is requiring account transfer, why?

My parent's created a Revocable Living Trust 15-20 years ago. My father died 10 years ago. Now my mom received a letter from their credit union stating that the accounts that are in the trust need ...
0
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1answer
126 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
386 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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2answers
6k 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
124 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 ...
1
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1answer
44 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 ...
0
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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 ...
0
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2answers
53 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 ...