This issue is so important. Your mother MUST take the legal steps necessary to see that you will receive her property after her death . . . now. Many parents talk about wanting a certain child to inherit their property but fail to draft a will or trust that states that intention. This situation happens often when one child remains at home and becomes a parents co-tenant in every sense but a legal one, sharing expenses, maintaining the property, providing care and companionship, etc. Often the other children have moved on, married or embarked on careers. They are frequently better off financially than their sibling who remained at home. They get comfortable with the knowledge that one sibling is there with Mom and that child bears the brunt of the responsibility for years. However, for various reasons parents are reluctant to reduce to writing that desire to leave the property to the child who stayed home. The parent dies and the other children are at the door with their hands out. The one who stayed home must borrow the money to buy them out. If they can't afford to do that, the property must be sold and the proceeds divided. If your mother has allowed your sister to transfer her home to a trust then yes, your sister will have control over the property when your mother dies unless the trust instrument clearly provides that the property will pass to you upon your mother's death. That provision can be added to the trust if necessary. You should discuss the matter with your mother and your mother should discuss it with her attorney without you or your sister present. She should be made to feel free to make her own decisions regarding her estate. However, she should be making those decisions herself and not allowing your sister's influence to dominate.
My mother made her bank the trustee for her accounts so they could pay her bills for her.
No you do not. The next person in the list on your Grandmother's trust document steps in as the successor trustee. Powers of attorney are invalid once the principal has died. Your mother's Power of Attorney (which has expired) has nothing to do with your Grandmother's trust.
You don't borrow money from it. Only your mother can make the loan.
Can you sell a real estate property titled in trustee after mother and father dies
A trustee is not needed. However, a good landlord-tenant agreement would be highly advisable.
whatever you want as long as she agrees to it. There is no set amount.
AWESOME BOOK! after you read this one read what my girlfriend doesnt know.. its the sequel to what my mother doesnt know! :)
dumbbb
He doesnt have a son.
she doesnt have a mother i think cos i don't see her in the animes poor ino hasn't got a mother:(
she doesnt have a mother i think cos i don't see her in the animes poor ino hasn't got a mother:(
Question is unclear. Who are you filing bankruptcy for, her, or you? If for her, it should not affect you, personally or financially, in any way. If you are filing bankruptcy for yourself, your status as the trustee of, and your availability to, someone else's assets may come under close scrutiny by the bankruptcy court and your creditors. It they suspect, or can prove, any co-mingling of your assets with that of your mother's, REAL problems could ensue.