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T
Is there proper etiquette on attorney fees?
dont assume that i think any better of doctors - LOL- TrustUser
- Post #10
- Forum: Wills, Trusts and Estate Planning
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Is there proper etiquette on attorney fees?
well, now you know why i stay away from lawyers !! 240/hr - what a ridiculous amount of money that they make- TrustUser
- Post #6
- Forum: Wills, Trusts and Estate Planning
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Is trust formatting state specific?
the trust doesnt do much, but distribute the assets. what particular law or rule are you suggesting is gonna make a difference ? i have seen a lot of on-line trusts. if i was only using it as a glorified will, it would work just fine.- TrustUser
- Post #7
- Forum: Wills, Trusts and Estate Planning
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Is trust formatting state specific?
i am gonna disagree some, with the previous answers. unless you live in louisiana, trusts are quite similar in the various other states. and most on-line trusts should be fine for your needs. you are simply wanting to create a device that gives away all assets at the time of death, without...- TrustUser
- Post #5
- Forum: Wills, Trusts and Estate Planning
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Need some guidance on interpreting verbiage in a last will and testament
they liked the KISS method - so do i - LOL- TrustUser
- Post #33
- Forum: Wills, Trusts and Estate Planning
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Need some guidance on interpreting verbiage in a last will and testament
i am a fairly literate person. do i have a basic understanding of "indemnify" ? i suppose but to be honest, i would have to look it up. i cant say that i totally was aware of the exact meaning of it as jal laid out so i cant say i like that particular word i would rather have a couple of...- TrustUser
- Post #31
- Forum: Wills, Trusts and Estate Planning
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Need some guidance on interpreting verbiage in a last will and testament
there is only one reason for language - that of communication only one reason for communication - for others to understand what you are saying i have never been a fan of using big words, or anything else that makes it less likely that the person i am talking to, will understand what i am...- TrustUser
- Post #25
- Forum: Wills, Trusts and Estate Planning
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Need some guidance on interpreting verbiage in a last will and testament
yea, i write my trusts without any legalese - part of the reason why i developed my own i want it clearly understood and i do not want to give any credence to the argument that the grantor did not understand what he was signing which is probably true most of the time with trusts drawn up by...- TrustUser
- Post #18
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
just in case you were interested, my career was as a systems analyst/programmer, installing accounting applications. so i am extremely well versed in accounting. we installed the entire gambit of general ledger, accounts payable, accounts receivable, order entry, inventory, purchasing...- TrustUser
- Post #33
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
okay, i guess that is pretty close to 30. why in the heck did they make a change to 27.5 - what a crazy number - someone must have wanted to feel important !! loans are still 30 year loans. they should have left well enough alone- TrustUser
- Post #31
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
it used to be that 30-year straight line was the most common form of depreciation. now that does not seem to exist any more. i am pretty sure there are multiple options within the 27.5 time length. i will choose the option that allows me to have the least amount of depreciation expense...- TrustUser
- Post #29
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
ldij, okay, i guess i will use a 27.5 year option. but puh-leeeze, i understand a great deal about accounting. it was you who did not. which is why i pointed out cash reserves to you.- TrustUser
- Post #25
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
thank you tm, then i plan to expense the depreciation on the trust return, and then use the calculated net profit as my distribution amount. since i prefer not to depreciate at all, i will just use a conservative 30-year straight line method. we are not talking huge amounts of monies, so i...- TrustUser
- Post #21
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
hi just, i think i have already posted tons of info, showing them to be using incorrect logic. tm keeps talking about degradation if things are not kept up. i mentioned that in the very beginning. we get to expense things as we fix them. once fixed, these buildings are sometimes better than...- TrustUser
- Post #18
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
Alerts that has got to be one of the craziest reasons i have heard for supporting funny money. have you ever heard of cash reserves ?- TrustUser
- Post #14
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
depreciation is a "non-cash flow" expense. other than that, i could simply take the net income, and distribute it. which is why i was hoping i could simply eliminate it completely, and not be forced to claim it, etc.- TrustUser
- Post #11
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
hi tm, i am not gonna argue any more about the depreciation of buildings. i will just agree to disagree. the details of the trust are simple. the net income is to be distributed to the beneficiaries. if it weren't for depreciation, i would have no questions. there will be times when there...- TrustUser
- Post #10
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
thank you for your response. one thing i did not want to have to do is have the beneficaries themselves be forced to claim depreciation on their returns. from your response, i dont think i will need to do that. so if the trust makes 10,000 in income and has 1,000 in depreciation (no other...- TrustUser
- Post #4
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
if a piece of real estate is held in a non-revocable trust, how is depreciation handled ? i think i would prefer not to claim it at all. but i dont know if that is an option ? it is an expense item, but not a cash flow item, so i am not sure how it affects distribution, and how it affects...- TrustUser
- Post #2
- Forum: Wills, Trusts and Estate Planning
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real estate depreciation within a trust
What is the name of your state?california- TrustUser
- Thread
- Replies: 32
- Forum: Wills, Trusts and Estate Planning
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