Do I have the same rights as my husband on life estate?
My husband died. His brother’s name on deed for life estate. Do I have the same rights? ANSWER BY MARGARET CROSS-BELIVEAU: A life estate grants the life tenant the right to live in the property for his lifetime. The other owner of the property is called the remainderman because he gets the remainder. Once the […]
Is it okay to name a revocable trust as beneficiary of a bank account if the bank does not allow trusts to own accounts?
Many online-only banks offer higher interest rates for online savings accounts but I found that most of these banks do not allow accounts to be owned by a trust. If I list my trust as beneficiary, is it just as good as having the trust own the account? ANSWER BY MARGARET CROSS-BELIVEAU: Naming the trust […]
A lady my mom trusted, mom passed 2018, to date no payments. How do I get land back?
I just would like to get my land back now. No improvements, it’s basically abandoned. What can I do to get title into my name? ANSWER BY MARGARET CROSS-BELIVEAU: The debt owed to your mother is now owned by your mother’s estate. You will need to consult with a Florida litigation attorney. (I am assuming […]
If 2 parties were named trustees of an irrevocable trust, do we apply for the EIN with 2 responsible parties?
My parents set up an irrevocable trust with my brother and I as Trustees. We have to open a trust bank account and therefore need to apply for and EIN to open the account. Does the application for EIN allow for designation of 2 trustee and both social security numbers? We only need the EIN […]
How do I find my father’s trust dated 1969 that is the beneficiary of a term life policy?
My father passed away recently. Most of his estate is under a trust that we know about. However, there is a term life policy he owned that has as its beneficiary a trust in my father’s name, under indenture, dated 1969. My mother and their current estate lawyer have no clue about this trust or […]
Can we legally move any of my elderly terminally ill father’s money, before he has to start paying out of pocket for 24/7 care?
My dad never did a will, and never wanted to talk about it when brought up, but he wanted his money to go to his children. My brother’s name is on his accounts, so can any of that money be gifted to us, before the nursing home takes it all, and he’s flat broke within […]
Can children of divorced parents trade quitclaim deeds on respective parent’s houses upon their death.
Both adult children are 50/50 beneficiaries of divorced parent’s houses. Both adult children are living in either the mom’s or dad’s house. The mom where my sis lives just died. Sis wants to stay there. The houses are the same in value. Can we trade our quick claims to the houses so she stays at […]
How can I change my name of a deed since I got married?
My deed needs to be updated to reflect my last name due to marriage in my revocable trust. ANSWER BY MARGARET CROSS-BELIVEAU: Your name change does not affect the ownership rights. At the time of the sale or transfer out of your revocable trust, the new deed with state your new name and your former […]
Making The Most of Restricted Stock and RSUs
Restricted stock and restricted stock units (RSUs) are two alternative forms of employee compensation. They’re a way for a company to incentivize employees with equity in the company. Restricted stock is typically granted as a type of bonus or added compensation, using a vesting schedule. You receive partial ownership of the shares and may be […]
Do disable citizens have to pay real estate tax?
ADDITIONAL INFORMATION: My mom passed away. She left me a condominium. I’m receiving SSDI. Do I have to pay real estate tax on the property I inherited? ANSWER BY MARGARET CROSS-BELIVEAU: You can check with the town assessor’s office to see if you qualify for an exemption. Generally, those are granted to people who are […]
