ADDITIONAL INFORMATION: House was bought by mom/dad/son in 1993 as joint tenants. dad past away 2002 and son/mom now are joint tenants. Paul quit claimed a deed to add his wife in 2003 without conscent of mom as he did use a lawyer and mom was told he did not need conscent of mom. 2011 mom did the same quit claimed a deed using a lawyer to add her daughter and me and mom with a
ADDITIONAL INFORMATION: If a bank has an INVESTMENT ACCOUNT titled “Transfer on death” to one beneficiary and a Living Trust document (unfunded) lists the INVESTMENT ACCOUNT as trust property to another beneficiary, which document prevails? The Grantor is deceased. ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: A trust must be funded in order for it to do any good. A trust may be funded either during a person’s life, which is the least costly way, or via
ADDITIONAL INFORMATION: There is a very tense relationship between sisters at this point there is only a verbal promise ATTORNEY ANSWER BY MARGARET L. CROSS-BELIVEAU: The inheritance of the rings will governed by your sister’s Last Will and Testament. If she wants her nieces to inherit her rings, it should be written into her Will. Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation
ADDITIONAL INFORMATION: The Trust Has 375.00 In It What Would Be A Fair Asking Price I Am 70 and My Wife Is 64? ATTORNEY ANSWER BY MARGARET L. CROSS: Most trusts have a small share article which allows the Trustee to make a final distribution to the beneficiary of a trust if the cost of administration of the trust is disproportionate to the value of the trust. With only $375, it certainly qualifies. Is it even
ADDITIONAL INFORMATION: I normally pay taxes on the income of the trust. I don’t have access to the principle amount but my trustees have determined based on life expectancy and actuary tables that I can have a lump sum distribution. I was not given any documentation for the finances and I would like to confirm the amount is correct but my question is will I be taxed on that distribution (under $100K) and can I
ADDITIONAL INFORMATION: My mother passed away 8 years ago… I was told she left me nothing. Last month my step father contacted me saying he needed me to sign some some papers for him. When I asked what they were for he told me it was my mothers estate, but assured me it wasn’t worth anything. It seemed weird to me so I had his attorney send me the paperwork and discovered I had received her
Additional Information: The closing attorney for the sale of my Concord NH home was aware of the necessity to payoff my FHA loan at a certain time to avoid additional fees. The payoff was rejected by my lender because is wasn’t a “certified check, cashier’s check, or bank wire”, as required by the lender’s Payoff Statement. After being contacted by lender, he then sent a certified check which was received after the deadline and I was
Additional Information: We are buying a home in Manchester, NH. The seller signed an agreement to pay for buyers closing cost, but apparently he didn’t understand what he signed (English is not his first language). He now understands what he signed but is trying to get out of it. What are our legal rights? ATTORNEY ANSWER: You should be able to enforce the agreement that seller will pay for your closing costs since it was agreed
Additional Information: I am a teacher in Quincy and in addition to my salary I sometimes receive wages for tutoring, and also income from our rental property. Is it recommended and is there a way to organize these separate business activities under one business entity? ATTORNEY ANSWER: Organizing several side businesses under one umbrella may sound like a good idea at first but there are several reasons (for tax purposes and non-tax purposes) why you should
Additional Information: I owned some rental properties in Braintree that were foreclosed on several months ago. I am getting ready to file for bankruptcy to wipe away the deficiencies. I am still getting bills from various taxing authorities for tax liens on the property. My question is, since I no longer own the properties and the bankruptcy will wipe away the deficiency, will I still be responsible to pay for the tax liens? ATTORNEY ANSWER: Since
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