What do you do when an attorney makes a grave error in a trust and because of that error the trust cannot possibly be executed for the purpose and intention of the settlor? Because of this error in the trust the beneficiary is screwed. It was made clear of how the trust was supposed to work to the attorney.
Mom left us her house in trust . And we are to distribute it evenly . Mom passed two years ago and I have been staying in the house. Now they want to sell . If it sells for more then it was at the time of death is there a capital gains tax?
Hi Paul I have a question. My mom passed 2 years ago. I have been living in the house and took care of her. So now they want to sell . The house was lower at the time of death. Do we have to pay capital gains tax if the house sells for more?
Leave any major assets with a beneficiary. That way it's no mistake. The beneficiaries will follow deceased wishes only, not what everyone else wants and probably were established before the person passed away.
What if I do not want my IRAs or life insurance go to my child because he has disability and would not know how to manage a large lump sum? Should the revocable living trust be named as beneficiary and in the trust there are instructions to the trustee to distribute the fund from the IRAs and the life insurance in a set amount annually?
What if you have some CD’s and life path funds as well as a couple of life insurances , and you have left it all to say your daughter and you have several bank accounts and a credit union account , all have been left in the name of your child expect you do a POD for the bank accounts, this would be for monies in the amount of around 300,000 $ in all these assets. And a home with a couple of acers paid for in full am i doing this right? Or what can i do to make it right so my daughter has no problem with handling things with out much of a problem
