Estates

is pod incme taxable to the reciever?

You need to review the powers granted to the trustee in the trust instrument. The trustee may need to get court order if the power to borrow money was not granted in the trust.

First of all, you cant control your children's behavior after you are dead; however, the concept of the spendthrift trust is vaguely helpful.

Somewhat. About all it can do is distribute the property slowly and in dribbles. It has some very real limits.

Basically, the answer to the question is that you cant make sure your children dont spend their inheritance recklessly, except by not leaving them anything.

And even if they dont spend it recklessly, YOU are not going to be about to get a trustee's report.

The best advice is not legal but moral "Train up a child in the way he should go, and when he is old he will not depart from it."

Also, for a parent to spend some time from about 2 years old teaching the child about money, property and things, and how they are to be cared for, and what is wise property use and what is foolish and wasteful property use almost always works. This is an expansion of the preceding paragraph; it has to do with child rearing, and and being a parent who teaches his offspring to honor the graves of his ancestors, and the life of the living at the same time. Consult a probate and estate attorney in your area. There re a number of ways of setting up a trust that will prevent them from blowing the entire inheritance when they turn 18. Typically it involves with providing for their education and giving them the balance at a certain age or after they meet certain requirements, such as graduating from college.

In most states there will be an automatic change to the will. The state doesn't like having children with no support. But you should get a will made particularly if you want to control who takes care of the child after you are gone.

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There is a fee to obtain death certificates. They can be ordered from the town clerk or from the state office of vital statistics.

According to the Kentucky Revised Statutes (KRS) 395.150 "The compensation of an executor, administrator or curator, for services as such, shall not exceed five percent (5%) of the value of the personal estate of the decedent, plus five percent (5%) of the income collected by the executor, administrator or curator for the estate." You can view the full text of KRS 395.150 at http://www.lrc.ky.gov/krs/395-00/150.PDF

Without actually asking them prior to their death, you can't, nor are they required to disclose that information.

If you are asking about learning if their will is being probated, you could make inquiry at the Clerk of The Court office in the county in which they resided at the time of their death and ask if the deceased's probate hearing was on the docket.

The best place to start is updating the deed. Once your deed is updated, you can refinance your home with ease.

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Possibly none. The deceased husband's rights to inherit as a named heir may have been terminated if he died before the person whose will you're reading. However, if the husband was named as an heir "per stirpes", or as a representative of his branch of the family ("to my children and their offspring"), then his estate and his lawful heirs may have a claim under the will.

That will depend on the specific jurisdiction. There is no requirement to file a POA with the court. Some courts have digitized such documents, but most have not done so.

This is an issue that may vary from state to state. Many states passed laws that provide that a person who inherits mortgaged property is not entitled to have that mortgage paid for by other assets in the estate. The mortgaged property itself is primarily liable for payment of the mortgage, unless the will says specifically that the estate is to pay off the mortgage. A simple direction to an executor to pay all debts is not enought to require the estate to pay the mortgage.

If a will gives John a mortgaged house and gives Mary all the cash, and if the estate had to pay the mortgage as if it were an estate debt, then John would receive the house free and clear and Mary would lose a lot of cash. But because of this type of statute, the mortgage technically is not an estate debt. It gets passed on to John and he will pay off the mortgage.

It should be noted that the bank will have to be paid when the decedent dies or it will foreclose and take possession of the property.

Your wife's will has nothing to do with your death - if you don't have a will, you will be subject to the intestacy laws of your state, which will determine who gets what. Now, if you die without a will, your wife will get the lion's share of your estate, so that when she dies, what was yours that became hers becomes part of her estate. If you're at all concerned about what is going to go to your children, call an estate attorney and draft a will.

You will pay income taxes on all income, including fees your earned. You would not pay inheritance tax on that amount. It would be a good idea to consult a probate attorney in your state.

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It does not matter what states have inheritance tax if you use a pure trust instead of a will. In a pure trust not probate exists and the successor managing director is put as a signer on the bank account when of age. When the original managing director dies, the successor takes over without probating the land and assets, therefore not inheritance taxes.

Each year the maximum net worth of an estate to avoid the death tax changes. The death tax is being completely repealed just in the year 2010 so if you are planning to die, 2010 is when you should do it! Check with a family trust attorney to find out what the max amounts are for 2008 and 2009.

In England and Wales, the answer is not so much a number, but how much planning has gone into ensuring that one's beneficiaries get the maximum amount that they could get while cutting out the tax man legally.

The residuary estate is that part of the decedent's estate that remains after all debts, expenses, taxes, and specific bequests have been satisfied. Therefore, you have a half share in anything that is left over.

The house goes with the legally married woman if the woman has children. If not, the house goes to the children over 21 or oldest child. If their are stepchildren in the picture the house goes to legal children. If children with second wife then the house goes with firstborn kids.

Dower rights in West Virginia was the right of a woman to inherit the property of the husband if he died first. Dower rights of this nature are no longer used in West Virginia. It is more complicated today with children inheriting along with the wife.

He would not have any any rights to the Estate of Marilyn Monroe, but in her will, Marilyn left her estate to him. This being the case, the Strasbergs now DO own the rights to Marilyn's movies and image use, although they are not members of her family, and should not have these rights.

That depends on the tenancy recited on the deed to your mother, brother and girlfriend. If they are joint tenants, your mother's interest will pass automatically to brother and girlfriend. If they are tenants in common, your mother's one-third interest will pass to her heirs-at-law (her surviving spouse, if any, you and your siblings) and her estate will need to be probated. Unless the deed states the land will be held one-half by your mother and one-half by your brother and his girlfriend, each will own a one-third interest.