My parents created separate Irrevocable Trusts a couple of years ago.?
484002
The look back period in the whole country is five years as of February of this year when the president sigend the Deficit Reduction Act of 2005.
727318
Boy, I wish wasn't at my second home because the information I would like to give to you is back at my other house. Anyway I am a Realtor, small apartment owner, trying to retire.\n\nA couple of years ago I went to an excellent lecture on just what you are asking. For a minimal amount of money I purchased "awesome" material, forms, how to's etc and telephone help.\n\nIt was a lot of work but, simple enough.   They taught us how to put LLCs into Living Trusts and "on and on".\n\nIf I had to remember who they were today I would put "expert protection of assets Salt Lake City, Utah" into a search and see what comes up. I bet I could find them. Let me know.\n\nI just saw another answer and he is confused; you absolutely can put each building into an llc for that matter.
953188
Talk to the trust fiduciary.  Money paid from a trust is either income or corpus.  Corpus isn't taxable to you, but income is.  There is no way I, or anyone else on this message board could possibly know how much is from each category, but the fiduciary should know.  To be safe, you could assume the whole amount is taxable and if it isn't, you'll be pleasantly surprised.\n\nMoney paid directly to you in the form of an inheritance is not taxable, but since you mentioned a trust, that trust may have had income.  If you get part of that income, it is taxable to you in the year you receive it.  My guess is that most of the trust is corpus especially if is a trust that was formed upon the death of the grantor (an irrevocable trust) and is only in existence for a short period of time.  If the trust is to last for years and years, then there is a good chance that most of the money paid to you will be taxable since most trusts usually pay out income and keep corpus.  Income is taxed at a very high rate to the trust and a comparatively lower rate to individuals.
872121
Your story is very complicated i suggest that you see an AR lawyer specializing in estates.\nBelow is a brief outline of the law.\nThe property that each spouse brings into the marriage, that is, the property that s/he owned before the marriage, is considered to be "separate" or "non-marital" property. For the property to remain separate, the spouse must keep it apart from marital or community property; that is, s/he would keep it entirely in his/her name. Once the separate property has been commingled (mixed) with marital or community property, it becomes part of the marital property.\nFor example, consider a bank account with $10,000 in it owned by woman before her marriage. This woman then marries and both she and her husband regularly deposit their respective paychecks into the account and periodically withdraw money to pay for their living expenses. At the time of separation twenty years later, the bank account has $5,000 in it. Since marital property has gone into it (deposits of the paychecks and marital or community debts have been paid from it is impossible to trace the original separate property money from that of marital or community property. The result is that this bank account has changed from separate property to marital property.\nSome states, such as California, have a separate property rule that says that all property brought into the marriage, (including gifts and inheritance), that is kept separate and apart from community property remains the separate property of the spouse that owns it.
531660
You should talk to a representative at your financial institution where you have your IRA. They will be more than happy to give you individualized suggestions.
947851
Entirely depends on the clauses therein contained. My advice is go thru a lawyer. DON'T ever try doing it on your own. \nIf there is a Donor, a Trustee and Beneficiaries, all parties involved in the existing trust deed have to sign (consent to the revocation of the deed). Once it is revoked you may want to or not , enter into another trust deed. It becomes Irrevocable only if one or more of the parties are not available to sign the revocation. In the event of any revocation it could also become an issue as to who will become the beneficiary. The persons involved can object that the original donor may not be allowed to become the sole beneficiary as a result of the revocation.\nThe reason for this works on the principle that once the donor creates an irrevocable trust deed, even he has no power to undo it as it (e.g. property) is not his anymore.
708951
You need to speak with an attorney who specializes in family law and preferrably has experience in handling estates as well. With your Father having no will I believe you and your sibling(s) are entitled to a portion of his estate. How much I don't know. Depending on which state you live in you may be able to find some information online. If you can tell us which State I'll help you look and post back here links that I find. \n\nI am so sorry for your loss. At 22 you shouldn't have to deal with this. \n\nIf your parents were legally separated that may be a good thing. You did mention having proof with some type of legal documentation. \n\nIf I were you I would get as much of your ducks in a row as possible before confronting your Mother. \n\nGood Luck.. I hope you are successful.\n\nBren... you don't allow email. Start here.... \n\n1-800-221-9576  It is a phone number for the Legal Consumer Guide for California. You can call them for a free consultation. It is a toll free number. They man the phones 24/7\n\nThere website is located at:\n\nhttp://www.legalconsumerguide.com/index.html\n\nClick on the Contact Us link.\n\nAnother Link that may help... http://www.courtinfo.ca.gov/selfhelp/lowcost/lawyers.htm\n\nAlittle more information..\nhttp://www.ca-trusts.com/intestate.html
790468
Actually, there are laws pertaining to this. I have no idea what it's called but look for "property rights" maybe "access" "new property lines"  in Google. It has something to do with after many years, the rights can be "grandfathered" or something like that. You should see a real estate attorney.
568968
IT DEPENDS ON YOUR POSITION. IF YOUR A FAMILY MEMBER IT SHOULD BE FAIRLY EASY TO SPEAK WITH THE FAMILIES ATTORNEY AND GET THE INFORMATION. IF YOU DON'T HAVE A VESTED INTEREST IT MAY BE A LITTLE MORE CHALLENGING, THESE TRUSTS ARE RECORDED BUT AREN'T GENERALLY A MATTER OF PUBLIC RECORD. IT WOULD PROBABLY BE WISE TO DISCUSS W/AN ATTY. IF YOU HAVE A GENUINE NEED TO KNOW A JUDGE COULD GRANT A REQUEST TO PROVIDE INFORMATION TO YOU.
379066
http://www.legaldocs.com/misc-s.htm\n\nI am no lawyer, but I think you can make your demand in a well written letter.\n\nWrite to him:\n\nDEMANDD FOR COMPLETE ACCOUNTING OF TRUSTEE _____________ FOR THE YEARS ______ AND _______.\n\nTHIS IS A DEMAN FOR A FULL AND DOCUMENTED ACCOUNTING OF ALL FUNDS SAID TRUST, ______________(hereafter to be called Trust in this demand).  This is to include out expenses of all types for running said TRUST, lawyer fees for running Trust.  This is to include all accounting of fund presently in trustees and any distributions there of.\n\nYou are given 10 days for date of this demand to comply.\n\nSomething to that effect.  \n\nHave the document signed and witnessed and if necessary go to your bank where notaries are free and get them to notarize that that is your signature.  Send you document by registered signed receipt mail.  \n\nMake a formal complainant to the State of Ill. Bar  Association.  The BBB.  And if your brothers and or sisters or whom ever else are in this trust have them copied.  \n\nThey may want to help.\n\nIf this is your trust only.  Get on it quick.  My father left my mother an Estate, her lawyer robbed her blind and left her with no funds. \n\nAgain, I am no lawyer, but you must make your demand in writing as the lawyer can say you never asked for it.  I think you might have a Free Legal Service there also....contact them today!!! \n\nGood luck.
744547
Hi Sundance,\n\nIf they relinquish all legal and equitable interests in the property prior to this eventuality then there is no property to sell.\n\nPerhaps an express trust might be in order?\n\nAssuming your parents are in good health at the moment and this will not happen in the next few years then I cannot see a problem.\n\nEg. If they sold the house and gave you all the money from the sale tomorrow and you spent it the day after then the money is gone, is it not? That asset no longer exists.\n\nHave a talk with a solicitor that specialises in equity and trusts if this is of interest to you.\n\nThe other alternative is to sell the property with the clause that they continue to live in it for the rest of their natural lives. There are companies that do this and your parents live there rent free.\n\nThey can do what they want with the money.\n\nThis is another alternative to ensure the money goes where it is intended.\n\nAgain, speak to a solicitor.\n\nGood luck.
11085
You have to include the household income of the parent you're living on right now. You can also check which one of them have you as a direct dependant on their tax return. Not both of them can have you there and the government will also use that information as a decision point.
668988
You haven't posted enough information about how the variance occurred.  Besides, probate and real property laws vary from state to state and you should consult a local attorney.  Unless you receive a response from an attorney in your state, the answer your receive hear would be pure speculation.
923211
my fiance's parents did that. it cost then way more than they expected and moved 10 years later. you can design it on this software (see the link) and i think you can put in approximate costs too.
282076
I don't know, but crooks will try anything, won't they? Talk to a lawyer who knows about pre-nups and estates. Contact legal aid if you have no $$ for a lawyer. Sounds shifty to me. Good Luck to you.
776514
Have a look at this wesite.\n\nhttp://www.trustnet.com\n\nIt gives all the info you need
1157159
State to State is different,try to amend this and show them the documents you have start over if need be you deserve the chance and your situation heard,they will probably look over it all again. good luck.