My sister purchased the family farm five years ago. My Mother has a life estate. My sister and her husband lived in the house with my Mother. Due to problems, my Mother is having, she is planning on moving to an apartment in a near by town. My question is, since she has a life estate, and moves out of the house, is the life estate void? Or does she have the option that she can come back and continue the life estate?

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when a person dies and leaves everything to someone.if a 401k is left ,is it counted as part of the persons tax liability?

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when a person dies and leaves everything to someone.if a 401k is left ,is it counted as part of the persons tax liability?

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wills, trusts, and estate planning? How do you separate the average from the best?

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Can a husband and a wife be treated as joint tenants (as if one partner) in a partnership having several other members and receive only one K-1 or must they be listed as separate partners and each receive a K-1? The issue here is a) simplicity of preparing the partnership return and b) estate planning.

Kudos to you if you can quote tax code to support your position. Thanks in advance!
Let me clarify: It’s a new Maryland LLC that I control. The partnership agreement will be drafted to suit our purposes. The estate issue is simple: if one spouse gets hit by a bus, the interest would become property of the surviving spouse automatically w/o probate, so that that spouse could sign resolutions to sell property and such.

On the K-1, I presume you would list both spouses as JT. Would you include both SSNs or just a Social for one spouse?

Thanks for your help so far.

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in wills, trusts, and estate planning? How do you separate the average from the best?

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I have been here for 5 months. I was told when I was hired that when I was able to do my job ( law firm, Estate Planning documents) without guidance, I would get a raise. I do. He is not the nicest man to talk to, so I want to phrase my request correctly. Any ideas?

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I have been doing lots of research trying to find out if there are any certification requirements to become a personal budget consultant. I know Financial Planners need certification generally, but they tend to offer services like insurance, estate planning, and other things that I wouldn’t be offering. I would focus on setting people up with a budget and helping them maintain the budget.

Thanks
I suppose I should mention my location, since that may influence the answer. I live in the state of Texas in the US.

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We recently agreed to let a property and when we went for a drink to celebrate bumped into a friend who told us the property was due to undergo a massive building project. After checking for the planning application we found out a new property was to be built behind the property we had just let adjacent to it’s back garden, and the property we had let was shown as being part of the site, the driveway parking which was advertised in the property details was due to become a road to the new property behind and a replacement parking space was to built into the already quite small garden of the property we had let. Thankfully we were able to pull out and I managed to get my deposit back by arguing that the details given regarding the driveway parking were inaccurate. But shortly after the letting took place (and after confirming with the estate agent that the driveway was a part of the rental property, a fact they now accept is false) we agreed to let out our own property and arranged a move in date for our tenants.

Now we’re left without somewhere to move into and im fearful we’ll have to either pull out of our arrangement with our tenants or more likely move into temporary accommodation and pay for storage of our home contents. My question is, is there a legal obligation for a landlord or an estate agent to inform a rental buyer of such planned building work (the planning permission was approved and work is due to start in a matter of weeks) This seems hugely dishonest and if we end up with significant costs owing to -what I see as- an unfair deception do you think we have any grounds to seek damages for the costs we will encounter for finding a new rental property? Many thanks for any info on this!
Hi Jim, yes my understanding is that the Estate Agents were aware of the planned work, although they didnt tell us about it. Although they knew, they clearly didn’t understand the full ramifications as they had originally stated to us that the driveway was to be for our use, as part of the rental property. I do blame the landlord more than the estate agents of course, because it’s his job to provide the details and brief them on the ramifications for tenants. There was something of a wall of silence from both parties until we found out what was about to take place
Hi Dash, thanks for the info. Wow, it’s really shocking that landlords are able to hide important info such as this, considering the impact it will have on tenants. I would have thought removing a driveway and part of the garden that was advertised as part of the property would be viewed by law as deceitful.

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What are the costs to unwind a living trust in the state of California using an estate planning attorney? Is the cost a percentage of the estate? Do they work on an hourly basis? Any other costs? Thanks!

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I want to be able to help people with their financial problems. Budgeting, debt reduction and elimination, basic estate planning and such. I would like to work for one of the non-profit organizations. Not one of those "debt relief" places that take your money and ruin your credit.

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I’ve successfuuly worked in the the insurance business for the past 4 years, captive to my current company due to my current contract. I have thought about going out on my own as a totally independent agent offering Life/Health/Accident, (including long term care) but I also am interested in financial and estate planning. How do you become licensed "independently" to broker mutual funds/stocks?

I do not want to be tied to one company, selling on that companies needs instead of my client’s needs. I feel being totally independent is the only way for me to go.

Suggestions? Comments? Answers?

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I am 64 and own my own small business. How do I find someone who is paid by the hour and has a deep and broad understanding of estate planning, when to start taking Social Security, etc, etc. I have heard that most "financial advisors" make money by selling insurance policies. I have nothing against insurancy policies but I want someone whose income is dependent on his real skills. Is there such a thing as a National Certified Financial Advisor association?

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Specifically looking for options that include estate planning, or just converting to a corp. Pros and cons?

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