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Trust U/W - Simple or Complex?
just to be clear, i never said anything about it being common i said it can be done whether a trust is common or simple in any particular year is all gauged upon what it distributes- TrustUser
- Post #6
- Forum: Wills, Trusts and Estate Planning
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Trust U/W - Simple or Complex?
actually, a trust is not simple or complex, per se. so i dont think there will be a problem this year. whether a trust is simple of complex in ANY PARTICULAR YEAR, depends on what happens a simple trust distributes all of its income, without distributing corpus. not sure about capital...- TrustUser
- Post #2
- Forum: Wills, Trusts and Estate Planning
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Durable POA
the fact that schwab is telling you guys to get a poa, suggests to me that this account is in your mom's name. and if she becomes incapacitated, they would have no vehicle to work with anyone else ?- TrustUser
- Post #11
- Forum: Wills, Trusts and Estate Planning
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Durable POA
does your mom have assets outside of the trust ? stuff that would be considered part of her personal estate- TrustUser
- Post #10
- Forum: Wills, Trusts and Estate Planning
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Durable POA
do you and your brother currently manage all the assets in the trust ?- TrustUser
- Post #9
- Forum: Wills, Trusts and Estate Planning
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Durable POA
hi tm, i should have been more clear. hopefully you would have been able to realize what i was saying. i did not find a general all-things poa very effective, in that few firms were willing to accept them. or they had to send it to their lawyers, and then have you sign their form, and go...- TrustUser
- Post #8
- Forum: Wills, Trusts and Estate Planning
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Durable POA
first, are you sure this is an irrevocable trust ? i suspect that is unlikely. it is much more likely that it is a revocable trust, set up with the grantors (your mom and dad) as the trustee. a lot of people think of a trust as a vehicle that deals with the assets of the grantor, when the...- TrustUser
- Post #3
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
it may not be as much of an issue at the present, but in the past it was also a good way to keep assets from being looked at again for estate tax purposes. trump has increased that limit to 10 million or whatever big number. but if the globalists ever get back into control, that will go away...- TrustUser
- Post #37
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
gosh, i do not like the description "controlling", in this particular regard !! because many of the people that i have talked to, are not controlling people i would call it a "wise understanding of your child", and doing what is best for him/her but we both agree that the client should be...- TrustUser
- Post #36
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
i would like to submit a 4th. when held in trust, funds (the trust assets themselves) are not attachable by the beneficiary's creditors. it functions very much like a pension plan, in that it provides a monthly income parents like the idea of helping their kids meet their monthly expenses...- TrustUser
- Post #31
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
will play the devil's advocate with you - first, the client has usually gone to an hour or 90-minute seminar held by the attorney so i dont see it as too much different than buying any other product, doing its advertising and as i said, it fills the bill for the vast majority of people for...- TrustUser
- Post #29
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
hi tm, there is one thing that you must understand - from many discussions i have had with you, you ARE NOT the typical lawyer that is a compliment !! but the vast majority of trusts done are somewhat simple, and really do not need a bunch of differences. i am not really knocking the...- TrustUser
- Post #27
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
i dont disagree with that, but i think there are enough wills that dont - that i would not want to bet my next month's salary on it !!- TrustUser
- Post #24
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
i suspect that zigner was correct earlier on. it depends on how the will is worded. it is not an automatic that an estate item is gonna be distributed according to the will, unless the will makes some sort of statement about "all my possessions", etc. for example, one could have a will just...- TrustUser
- Post #22
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
for the most part, a lawyer just needs to have his assistant make a few changes to a stock trust document before it is complete - almost zilch work for the lawyer, and zilch cost on the other hand, preparing and recording grant deeds, etc. actually takes time- TrustUser
- Post #21
- Forum: Wills, Trusts and Estate Planning
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My dead grandmothers lawyers are screwing us over.
i think you are giving lawyers too much credit, here. cuz that has not been my experience. many, if not most, lawyers will prepare the trust, and not do any funding of assets - thereby getting some business, when they may have gotten none at all. and a pour-over will is not at all a standard...- TrustUser
- Post #19
- Forum: Wills, Trusts and Estate Planning
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What is the definition of "%" in a will?
just to add 2 cents - remember that a trust or a will only deals with assets that they control a trust must have assets specifically titled to the trust, before the trust controls them a will basically controls everything that is not a part of something else (i.e. a trust or a named...- TrustUser
- Post #8
- Forum: Wills, Trusts and Estate Planning
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Irrevocable Trust Successor Trustee docs -- PA
as far as conferring any special validity, i will have to play devil's advocate on that statement. notarization is proof that the person signing the document is the person supposed to be signing the document if somebody were to challenge the validity of the document with the argument that...- TrustUser
- Post #4
- Forum: Wills, Trusts and Estate Planning
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Irrevocable Trust Successor Trustee docs -- PA
notarization is extremely cheap insurance - i would get them notarized, if possible gosh, most lawyers are gonna have someone in their office who is a notary- TrustUser
- Post #3
- Forum: Wills, Trusts and Estate Planning
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Confused about Irrevocable Trust and Will
you will also want to verify what assets (if any) were actually titled to the trust. the trust only controls those assets which it owns. the making of the trust does nothing, until an asset is placed into it (which means a re-titling of that asset)- TrustUser
- Post #5
- Forum: Wills, Trusts and Estate Planning
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