Paul, you're down-to-earth, hardworking decent fella. Thank you for NOT fitting the typical 'Dowe Cheatem & Howe Lawyer Firm' mold. You're knowledgeable and willing to share this so freely - which says a lot. Keep up the good info drops! Many appreciate this insight.
Hi Paul , love your videos . Very informational . You break down everything so well for us to understand. Could you do a video talking about what documents normally come in an estate package ? Thanks
I discovered that you have to wait for the death certificates before assets get moved out of the trust. Some banks require you to present the original trust document while other banks accept a copy of the trust.
Thank you for you videos. Yes I was a binge watcher. 😊 My mom has a trust which I over when she passes. She has asked me to take over her finances. I would think I would need a POA (durable?). Can you have a POA and trust. Confused. Thanks
Do you have a video on what needs to be done (if any) when the first spouse passed away? My parents have a joint living trust and my mom just passed away. My dad has dementia and I am the successor trustee. Wondering if I need to do any paperwork at this point? Do I need to take my mom’s name off the deed or their joint bank accounts?
Thanks so much, Paul for sharing your expertise in an area that most are unfamiliar with. I have a question. A friend and his siblings were beneficiaries of two homes from the passing of his parents over 3 years ago. The successor trustee has not taken any action to distribute the assets as the siblings have informally agreed to hold on to the homes (one sibling lives in one the other is a rental). Can this scenario go on for an extended period of time? Also, what is the most compelling reason for them to follow through with the parents' wishes and execute the equal three-way split of the homes?
Thanks for the video! The process has been nearly exactly as you describe for an Ohio revocable trust estate for which I am a successors trustee. What do you see as common trustee fee amounts? Also is it best to leave vehicles out of trust for liability reasons? [I am setting up my own Florida revocable trust and pour over will).
Getting ready to establish a RLT to pass assets to our 3 children when the time comes. Any videos that would help me keep a lake home in the family and NOT be sold? We want our children and grand children to enjoy this property for years.
My parents have a trust. From the trust two parts go to two adult children, 1 part get devided to grand children. There is moms only investment fund outside of the trust that is for the two adult children, as beneficiaries.Not the grand children. The current value is under 200,000. How will that investment be handle? I'm thinking it will just be divided in two and separate acts or checks will be wrote. I'm thinking there isn't any tax problems because the whole estate is under the limit.
Its funny how you describe the bankers wanting them to keep the money at the bank. I've sold a motorcycle and a boat at two different times in the past. I took the check from the buyer to the bank to deposit, so, I can payoff another bank that the boat or motorcycle loan was through. In both cases, being several thousand dollars, they bank says they have to "get approval" for a deposit that large. Really, it was so they could run the banks "investment opportunities" by me to get me to keep those large deposits in their bank. As soon as I tell them, the money won't be staying in my account that long, they quickly let me go.
