Suppose you have been named as trustee of your parents’ trust, or as personal representative (executor) of your last surviving parent’s estate. You wonder: What do I do with my parent’s house? Do you sell it immediately, as is? Or can you sell it to one of your siblings? Can you buy it from the…
Sometimes joint owners can’t agree on how to manage — or divide — their jointly-owned asset. The difficulty might arise with real estate, or a business, or even financial accounts. When they can’t agree on what to do, the result might be what the legal system calls a “partition” proceeding. Joint ownership Two — or…
MARCH 7, 2016 VOLUME 23 NUMBER 9 We occasionally get questions from our clients involving ownership of real estate — usually around the creation, funding or administration of a living trust. These questions are particularly common, and since we got them (from different clients) in the last two weeks, it seemed like a good time…
DECEMBER 28, 2015 VOLUME 22 NUMBER 48 When our clients establish revocable living trusts, we help them transfer assets to the trust’s name. That’s not unique — most law firms help clients through the process. This is often referred to as “funding” the trust, and it can be more complicated than it seems like it…