Comments for Family Legacy Blog | Southwest Florida | Fort Myers | Estate and Trust Law http://www.sbshlaw.com/blog Estate Planning information presented in understandable family themes Mon, 05 Apr 2010 18:25:09 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Mortgage Deficiency Judgments Against an Estate by Alma Pagan http://www.sbshlaw.com/blog/estate-planning/mortgage-deficiency-judgments-against-an-estate/comment-page-1#comment-574 Alma Pagan Mon, 05 Apr 2010 18:25:09 +0000 http://www.sbshlaw.com/blog/?p=181#comment-574 What if you are a creditor and have an allowed claim order? The only asset left is a house. Can the estate sell the house without paying the claims against the Estate? What if you are a creditor and have an allowed claim order? The only asset left is a house. Can the estate sell the house without paying the claims against the Estate?

]]> Comment on Step Up in Tax Cost Basis is the Big Deal by Lisa Schoenrock http://www.sbshlaw.com/blog/estate-planning/step-up-in-tax-cost-basis-is-the-big-deal/comment-page-1#comment-571 Lisa Schoenrock Mon, 22 Mar 2010 03:28:18 +0000 http://www.sbshlaw.com/blog/?p=167#comment-571 Is it worthwhile for one to go to court and request that one is allowed the step-up in cost basis, regardless of congress and IRS ruling? In other words, will a judge ruling hold up against such decisions? Or is it just a waste of time and court costs? Is it worthwhile for one to go to court and request that one is allowed the step-up in cost basis, regardless of congress and IRS ruling? In other words, will a judge ruling hold up against such decisions? Or is it just a waste of time and court costs?

]]> Comment on The Difference Between a Will and a Revocable Living Trust by Craig R. Hersch http://www.sbshlaw.com/blog/estate-planning/the-difference-between-a-will-and-a-revocable-living-trust/comment-page-1#comment-525 Craig R. Hersch Tue, 22 Dec 2009 20:10:48 +0000 http://www.sbshlaw.com/blog/?p=169#comment-525 In response to your questions there are many different types of estate planning - wills and trusts being the most common. Your questions are good ones and can be answered only after a qualified estate planning attorney interviews you and understands what your individual situation is. Our Family Estate & Legacy Organizer is the first step in that process. If you are a Florida resident give us a call and we can help you start your journey. In response to your questions there are many different types of estate planning – wills and trusts being the most common. Your questions are good ones and can be answered only after a qualified estate planning attorney interviews you and understands what your individual situation is. Our Family Estate & Legacy Organizer is the first step in that process. If you are a Florida resident give us a call and we can help you start your journey.

]]> Comment on The Difference Between a Will and a Revocable Living Trust by hanh http://www.sbshlaw.com/blog/estate-planning/the-difference-between-a-will-and-a-revocable-living-trust/comment-page-1#comment-514 hanh Wed, 16 Dec 2009 18:16:57 +0000 http://www.sbshlaw.com/blog/?p=169#comment-514 please help me out i have the following questions that i want to know and learn about it before i do it. i am so confusing and don't know what to do after i read them. 1. how many types of estates planning? living wills, wills & trusts powers of attorney for finanncial and health care revocable living trust 2. what different between wills and estate planning? or wills is belonging in estates planning too. 3. which types of estate planning that everyone MUST have it and which one we don't really need to have it if we choose not to have one? 4. can my parent fill out for the joint too? please help me to answer these questions to help me. we don't have any at all, i need to understand and pick the one that i must need to have it. thanks so much for your help hanh please help me out
i have the following questions that i want to know and learn about it before i do it.
i am so confusing and don’t know what to do after i read them.

1. how many types of estates planning?
living wills,
wills & trusts
powers of attorney for finanncial and health care
revocable living trust

2. what different between wills and estate planning? or wills is belonging in estates planning too.
3. which types of estate planning that everyone MUST have it and which one we don’t really need to have it if we choose not to have one?
4. can my parent fill out for the joint too?

please help me to answer these questions to help me. we don’t have any at all, i need to understand and pick the one that i must need to have it.

thanks so much for your help
hanh

]]> Comment on Limiting Liability Exposure When Owning Rental Units by Craig R. Hersch http://www.sbshlaw.com/blog/estate-planning/limiting-liability-exposure-when-owning-rental-units/comment-page-1#comment-171 Craig R. Hersch Mon, 30 Mar 2009 14:18:30 +0000 http://www.sbshlaw.com/blog/?p=47#comment-171 Your questions are factually and legally specific to California law. I strongly suggest that you visit with a California attorney to answer those questions. Your questions are factually and legally specific to California law. I strongly suggest that you visit with a California attorney to answer those questions.

]]> Comment on Limiting Liability Exposure When Owning Rental Units by Bob Reeves http://www.sbshlaw.com/blog/estate-planning/limiting-liability-exposure-when-owning-rental-units/comment-page-1#comment-169 Bob Reeves Mon, 30 Mar 2009 01:21:17 +0000 http://www.sbshlaw.com/blog/?p=47#comment-169 Need answer/insight to CA. Trust question. Stangers have Breach of fudicary duties judgement against them. They have in CA a Adams 2000 Trust which i do not know what is contained in it. If i hire an assest search on them to include the trust will i be able to find what is owned in the trust and have recovery against it? Also, the property in CA. is i think a condo of which this is thier Homestead property being claimed but is while they reside in it rent out ($2,750/mo) a portion. Would this in the mildest form of thought reduce thier exemption amount (value 300,000 -exemption 150,000 instead if half rented out then expemption reduced to 75,000)? Need answer/insight to CA. Trust question.
Stangers have Breach of fudicary duties judgement against them. They have in CA a Adams 2000 Trust which i do not know what is contained in it. If i hire an assest search on them to include the trust will i be able to find what is owned in the trust and have recovery against it?
Also, the property in CA. is i think a condo of which this is thier Homestead property being claimed but is while they reside in it rent out ($2,750/mo) a portion. Would this in the mildest form of thought reduce thier exemption amount (value 300,000 -exemption 150,000 instead if half rented out then expemption reduced to 75,000)?

]]> Comment on Trustee Liability by Rita Murdoch http://www.sbshlaw.com/blog/uncategorized/trustee-liability/comment-page-1#comment-142 Rita Murdoch Sun, 22 Feb 2009 19:17:48 +0000 http://www.sbshlaw.com/blog/?p=30#comment-142 My sister is the trustee of our parents living trust. Two years later she won,t give me full disclosure and did not honor my request to sell my share of the mutual funds made prior to the market crash. She uses my parents house as a second home for her benefit. Do I have any recourse. I just want her to distribute my share and she wont. My sister is the trustee of our parents living trust. Two years later she won,t give me full disclosure and did not honor my request to sell my share of the mutual funds made prior to the market crash. She uses my parents house as a second home for her benefit. Do I have any recourse. I just want her to distribute my share and she wont.

]]> Comment on Joint Ownership by Ashley Riley http://www.sbshlaw.com/blog/estate-planning/joint-ownership/comment-page-1#comment-123 Ashley Riley Fri, 16 Jan 2009 15:27:36 +0000 http://www.sbshlaw.com/blog/?p=20#comment-123 If a Mother and Daughter own a piece of property as joint tennants with rights of survivorship,(who now has a fallen out) can one party quitclaim their half to a trust without the other signature? Does this change it to a tennants in common? Also, can one party who is homestead in that property not allow the other to stay there (who has never lived there) If a Mother and Daughter own a piece of property as joint tennants with rights of survivorship,(who now has a fallen out) can one party quitclaim their half to a trust without the other signature? Does this change it to a tennants in common? Also, can one party who is homestead in that property not allow the other to stay there (who has never lived there)

]]> Comment on Now More than Ever by Jeffrey Flory http://www.sbshlaw.com/blog/estate-planning/now-more-than-ever/comment-page-1#comment-114 Jeffrey Flory Fri, 31 Oct 2008 01:12:03 +0000 http://www.sbshlaw.com/blog/?p=36#comment-114 Great post, Craig. I particularly like your closing - it resonates with this statement from Peter Drucker, "A time of turbulence is also one of great opportunity for those who can understand, accept, and exploit the new realities. Great post, Craig. I particularly like your closing – it resonates with this statement from Peter Drucker, “A time of turbulence is also one of great opportunity for those who can understand, accept, and exploit the new realities.

]]> Comment on Joint Ownership by Nancy Cristy http://www.sbshlaw.com/blog/estate-planning/joint-ownership/comment-page-1#comment-104 Nancy Cristy Mon, 08 Sep 2008 16:26:37 +0000 http://www.sbshlaw.com/blog/?p=20#comment-104 Regarding a joint savings account: If it was opened initially with $24,000 and additional deposits of $50,000 were made that year, would the secondary owner be subject to a gift tax? Would there be an IRS penalty for not filing the gift tax when the account was opened in 2006? The primary owner died in August 2008. Regarding a joint savings account: If it was opened initially with $24,000 and additional deposits of $50,000 were made that year, would the secondary owner be subject to a gift tax? Would there be an IRS penalty for not filing the gift tax when the account was opened in 2006? The primary owner died in August 2008.

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