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Why Won’t My Deceased Father’s Bank Honor His Last Will and Provide Account Access?

Banks do not accept a Last Will and Testament document as proof to provide access to funds in an account for obvious reasons. [ Read More... →]

Last Will and Testament Questions  ·  April 15th, 2014

If a Land Contract Buyer Rents the Property to Another, Can the Seller Be Liable for Injury?

A third party can be named in a lawsuit for just about any reason, as including a party requires no more than adding a name to paper. [ Read More... →]

Land Contract Questions  ·  April 9th, 2014

If a Property Was Quitclaimed Years Ago to One Child, Can a Will Give Shares to Other Children?

If a real estate property has been properly assigned via Quitclaim Deed to any other person, that property is no longer an asset of the person who gave it away. [ Read More... →]

Last Will and Testament Questions · Quitclaim and Warranty Deed Questions  ·  April 1st, 2014

Do I Use a Quitclaim Deed to Transfer a Car Into My Living Trust?

A Quitclaim Deed cannot be used for a vehicle, only real estate property. A vehicle is transferred by vehicle title through the BMV. [ Read More... →]

Living Trust Questions · Quitclaim and Warranty Deed Questions  ·  March 24th, 2014

What Happens if I Can’t Find My Parents’ Will After They Die?

Generally, if a Last Will and Testament cannot be found after the death of a family member (or even a copy of the original Will document), it may be presumed that the person died intestate, i.e. without a Will. [ Read More... →]

Last Will and Testament Questions  ·  March 18th, 2014

If My Spouse Had a Home and Child Prior to our Marriage, Do I Get the Home If He Dies?

The answer to this question would depend on a number of factors: [ Read More... →]

Last Will and Testament Questions · Quitclaim and Warranty Deed Questions  ·  March 17th, 2014

Can an Will’s Executor Use a Quitclaim Deed to Transfer Listed Property?

An Executor has no authority to sign a Quitclaim Deed on behalf of a deceased person. [ Read More... →]

Last Will and Testament Questions · Quitclaim and Warranty Deed Questions  ·  March 16th, 2014

Can I Create a New Trust with the Same Name as a Previous Trust?

Yes, a newly created Living Trust can be named the same as a previous Trust.

But the name of the old trust and the new trust will likely be dated differently, which can require the transfer of assets as well. [ Read More... →]

Living Trust Questions  ·  March 6th, 2014

Can I Form an LLC in One State and Run It From Another?

Because the LLC filing fees on one state may be significantly higher than a neighboring state, some people consider filing for LLC status in one state while running the business from another.

As an example, an Indiana Limited Liability Company can be created and filed for an Illinois-base business, and doing so will offer the liability protection that any LLC would. Plus an Indiana filing is significantly less expensive to make than an Illinois filing.

But there is more to consider. [ Read More... →]

Limited Liability Company LLC Questions  ·  March 5th, 2014

Is a Living Trust Valid if the Donor Moves to Another State?

A Trust will continue to remain valid and enforceable if properly executed even if the Donor or Trustee change their state residence after execution. [ Read More... →]

Living Trust Questions  ·  February 21st, 2014

What is the Difference Between a Revocable and Irrevocable Living Trust?

An Irrevocable Trust is a type of trust that cannot be changed after the agreement has been signed. [ Read More... →]

Living Trust Questions  ·  February 21st, 2014

Can a 50% Owner of an LLC Be Removed Without Consent?

The portion “…be removed…” in this question is not clear, and the distinction is important. [ Read More... →]

Limited Liability Company LLC Questions  ·  February 13th, 2014

What is the Current Estate Tax Exclusion for a Living Trust?

In determining the structure of a new Living Trust, the Estate Tax Exclusion is a consideration in choosing whether to create a Single, Joint or A/B Trust.

For the 2013 tax year, the Federal estate tax exclusion amount is $5.25 million per person. In the 2014 tax year, that exclusion increases to $5.34 million per person.

Living Trust Questions  ·  February 10th, 2014

Should the Lender Be Involved if My Mortgaged Home is to be Transferred to My Living Trust?

The language that is included within the mortgage document is critical in evaluating what steps should be taken when transferring to a Living Trust any real estate that is still tied to a loan. [ Read More... →]

Living Trust Questions  ·  February 10th, 2014

Does a Standard Document Exist to Demand Payment on a Land Contract?

There is no standardized document to demand that a buyer on a Land Contract make the payments promised. But there is another simple option. [ Read More... →]

Land Contract Questions  ·  February 6th, 2014

When Can I Move In and When is the First Payment Due on a Land Contract?

A Land Contract is just that: a contract. The terms of the contract should be clearly stated within this document, including move-in date and the payment schedule. Read the Land Contract document carefully…

Land Contract Questions  ·  February 6th, 2014

What is a Certificate of Trust?

A Certificate of Trust contains the “highlights” of the Trust document itself. [ Read More... →]

Living Trust Questions  ·  February 4th, 2014

If a Home is Owned Jointly and One Person Takes Out a Mortgage That Goes Unpaid, Can the Lender Foreclose on the Entire House?

If payments are missed on a loan that is secured by a mortgage, the lender secured for the mortgage can file a foreclosure action. But the language of the title and the mortgage documents are critical to how the lender may proceed. [ Read More... →]

For Sale by Owner Home Sale Questions · Quitclaim and Warranty Deed Questions  ·  January 27th, 2014

Does Standard Legal Offer an Irrevocable Trust?

The trust documents offered by Standard Legal are for Revocable Trusts, by choice. [ Read More... →]

Living Trust Questions  ·  January 14th, 2014

If the Grantor is Deceased, Who Signs a Quitclaim Deed?

No one can sign any legal document on behalf a deceased person. [ Read More... →]

Quitclaim and Warranty Deed Questions  ·  January 8th, 2014