Trustees

Blog Posts

• Blog Post - My father is in failing health and financial ruin, living with a woman who is bipolar, and refuses my help. What can I do?

  My father is 69 years old and in failing health...

• Blog Post - My mother gave power of attorney to her new husband, who is putting her life in danger. How can we get it away from him?

  My mother's new husband has power of attorney for her, but I feel he puts her life in danger. How can we get her to reappoint power of attorney?

• Blog Post - I can't stop feeling that I was an inadequate caregiver to my mom.

  I am a 56-year-old registered nurse. I took time off...

• Blog Post - I was the beneficiary of my mother's trust deposit until that was changed to her husband's name a couple of months before she died -- and I think it was done illegally.

  My mother moved from Orlando (where I live) to Miami...

• Blog Post - How can I stop my brother from taking power of attorney for my mother away from me?

  I'm having problems with my brother and his family...

• Blog Post - How much say do I have in determining who is guardian over me and my affairs?

  Do I have any rights in determining my care and who...

Questions & Answers

• Question - How can I set up a trust account in a bank for my granddaughter?

  What kind of trust account should I set up for my grandchild? You could set up a simple trust like a Totten or you could have a lawyer write a trust.

• Question - Is it wise to put an elderly parent's home in trust?

  Should I put my elderly parent's home in a trust? Putting a house in a trust is a good way to avoid probate, although it may not be necessary.

• Question - What if we suspect a trustee is mismanaging a trust?

  Family dynamics can make it hard to figure out whether a trust is being properly administered, or whether there is some type of illegal undue influence.

• Question - If I have a living trust, do I also need a will?

  While it requires a little extra thought and paperwork, a simple back-up will may help prevent estate planning slip-ups.

• Question - is it a good idea to put your IRA in a revocable living trust?

  Should I put my IRA in a revocable trust? There are good reasons to put an IRA in a revocable living trust. For one, a revocable trust avoids probate.

• Question - How do I determine "reasonable" trustee fees?

  What is a reasonable trustee fee to charge my parents' estate? I'm the trustee, and I need to be able to show that my fee is reasonable and customary.

• Question - Does a trust need to be registered in Illinois?

  Some state laws require that living trusts must be registered -- but none of those laws have teeth.

• Question - What is the difference between a will and a trust?

  What's the difference between a will and a trust? One of the main differences between a will and a trust is that a will must go through probate.

• Question - How do I set up a real estate trust?

  You may be able to set up a simple living trust on your own; other types of trusts may require some guidance from a legal expert.

• Question - Does a living trust protect money from Medicaid consideration?

  Will putting money in a living trust protect my parent's money and help her get Medicaid? No, Medicaid considers money in a living trust an asset.

• Question - If you receive money from an estate in trust for another individual, who pays the income tax on it?

  If you receive money to put in someone else's trust, who pays the income tax? Do you have to pay income tax on this money that's not for your use?

• Question - What can I do if I think the trustees are acting illegally?

  When a trustee is acting illegally, you may have no choice but to hire legal help to right the wrong.

• Question - Is it wise to make one child (of two) the trustee of your trust and also have power of attorney over all of your affairs?

  Unanswered. Can you help?

• Question - How do we set up a testamentary trust?

  There are easy steps to follow to set up a testamentary trust – and the IRS can help.

• Question - What are the amounts of trustee's fees that must be paid?

  The law sets out a rather fuzzy standard for how much compensation a trustee is entitled to be paid.

• Question - How do I get the deed to my father's house transferred to my name?

  The steps you need to take to transfer a house to your name depend on how you became entitled to take it: by will, trust or intestate succession.

• Question - My mom is not executing her trustee duties and the beneficiaries are suffering. Do I have to take her to court?

  There's one true thing about a court of law: It's probably the hardest place to resolve a family dispute over trust mismanagement.

• Question - Who should I see to set up an irrevocable trust?

  Unanswered. Can you help?

• Question - If minor children are left as beneficiaries of insurance policies, who would manage their money?

  This question has been answered by a Caring.com Expert

• Question - Is there anything I can do if I've been excluded from a trust?

  Children can be excluded from their parents' estate plans, but it usually must be verified as an intentional move.

• Question - What can I do to get my money from a trust fund?

  You may have to take legal action to get a stubborn trustee to live up to his or her duties.

• Question - How do we handle a new home purchase with regards to possible future Medicaid needs?

  Unanswered. Can you help?

• Question - What documentation do I need to enable the companies to discuss her accounts with me?

  This question has been answered by a Caring.com Expert

• Question - As trustee for my parents' living trust, can I manage their affairs if they're unable and do I still need power of attorney?

  The power of a trustee of a living trust extends only to property in that trust.

• Question - Is there a time limit on distributing trust money?

  Laws controlling trusts generally require a trustee to act "reasonably" -- and those who don't may be accountable in court.

• Question - When parents move to a new state, are their wills and trusts valid in the new state?

  Complications can arise in estate planning documents when a married couple moves from a community property state to a common law state, or vice versa.

• Question - Whose Social Security Number goes on an irrevocable trust?

  The IRS makes it surprisingly easy to complete the tasks necessary to set up a trust.

• Question - Should my mom put my sister's name on the deed to her home?

  Should my parent put my sister's name on her house deed? Putting a child's name on the house deed before death has some serious disadvantages.

• Question - If I'm the partner on a friend's checking account, is it legal for me to distribute the funds after death?

  My friend and I had a joint checking account before he died -- he added me to his account. Can I distribute the funds from our joint account now?

• Question - Does self-help software produce legal documents?

  Some self-help law products produce perfectly legal documents. The key is to shop wisely -- and you can always use a lawyer as a backup.

• Question - is the nursing home entitled to the interest generated from...

  Unanswered. Can you help?

• Question - My father just died. What do I do first?

  There are many details to attend to in the first week or so after a death occurs -- and the busyness can sometimes feel like a blessing.

News

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  MONDAY, June 30 (HealthDay News) -- Researchers have...