What Should I Do if My Fence is on My Neighbors Property?
Video Summary
What should I do if my fence is on my neighbor’s property? Well, if your neighbor doesn’t object to it, I suggest you just leave it there. Number 2 is if your neighbor objects to it, well, then you may want to get a survey and to move your fence as far as that’s concerned. Another option that I’ve seen is if the neighbor and you and the neighbor get along fine, but they’re concerned that when they get ready to sell the property, it might be a problem entering into an agreement that everyone’s in agreement that you can leave your fence there for the time being, and then you agree to move your fence whenever they ask you to. If it’s not a problem, then they basically put it off until such time there is a problem. Many people are concerned that if you have a fence that somehow they lose that property that’s inside the fence line and you can basically, they do not, and that you’re not establishing any ownership of that property, which is also a concern, which I guess you, how you convince your neighbor that you’re not going to claim their property. The other, if you can, if the neighbor would grant you an easement, that would be another solution that says that you are allowed to maintain your fence on their property. But otherwise, if the neighbor is insistent that the fence be moved, I suggest that you move the fence. My phone number (727) 847-2288.
- Published in Estate Planning, Real Estate, Videos
What are the Responsibilities as a Trustee of a Trust?
Video Summary
What are the responsibilities of a trustee of a trust? Well, first off, we need to talk about the usual circumstances. Whenever you set up a trust and you’re the trustee during your lifetime, and so you are talking about the duties and responsibilities of the trustee after you pass away, and then the successor trustee takes over and it is now a irrevocable trust, and so the trustee should then notify the beneficiaries that there are beneficiary under the trust. Many times this can be done by simply supplying them with a copy of the trust, although you don’t necessarily have to unless they request that you need to. The Trustee would need to file what they call a notice of trust with the clerk of the court, obtain a federal identification number as trustee of the trust so that it can file a tax return for the trust for any income it receives during their, while they’re administering it, they need to determine what creditors there are out there and see about getting the creditors paid. Another function the Trustee needs to do is to verify if there are any assets that are in the name, just in the decedent’s name and not in the decedent’s name as Trustee. If there are, there’s usually what they call a poor over will, and there would need to be a probate administration. These are usually done together and so that the Trustee is usually the executor also for a will, and it’s called a poor over will. That says that they leave all their assets to the Trustee and then the Trustee then administers the trust, pays the creditors, unless it’s a very sizable trust, there isn’t any estate taxes in Florida or to the federal government. And so then once that’s all done taken care of as far as accreditors, and then the trustee needs to make distribution and prefer an accounting for all the beneficiaries to make a distribution, the distribution pursuant to the trust, and there’s a provision on how they to do that to the trustee can be released from any liability by sending a limitation notice out to the beneficiary. So, they can’t object to how they administer the trust. The assets can be distributed in kind, meaning distribute the assets such as stock. Some beneficiaries say, well, I just want the stock, rather than you having to sell the stock and then liquidate it and divide up the money. So, these are all things that a Trustee would do and suggest that they probably need to contact an attorney for some guidance and assistance in conjunction with the matter. If you have any questions, give me a call at (727) 847-2288.
How Long Will It Take to Create Estate Planning?
Video Summary
How long will it take to create an estate plan? Well, once you set up an appointment with an attorney and you provide ’em with all the information as to whom you would like to receive your assets, whether or not you want to Trust, and also who you want to make medical decisions for you. After he takes all the information in my office, I advise that I will send to them in the in mail, the documents for them to review and 10 to 14 days. The reason for sending them out by mail for them to review is so that they have a chance to read it, reflect on it, and make sure that that’s what they want, and also to correct any type of graphical errors. After they receive the documents, they call my office to set up an appointment and that I furnish the witnesses and the notary public as far as the proof of will and the notary and the power of attorney. So, it really depends on the attorney as far as how quickly it would take to put together your estate plan. After you have set the appointment up with the attorney and provided him with all the information, if you have any questions, you can call me at (727) 847-2288.
Does the Spouse Who Quitclaimed the House, Originally Purchased Before Marriage, Retain Any Rights to it, considering it Wasn’t Treated?
Video Summary
Does the spouse who Quit claimed the house to the other spouse and him or herself, which was originally purchased by them, retain any rights to it? I’m assuming that this question has to do if they are involved in the divorce proceedings. Whenever, a husband and wife own a piece of property, they get divorced, well then you start with each party receiving a one half interest in the property as tenants in common. However, in a divorce proceeding, the judge is going to make the determination as to who receives the property and whether or not who gets to live there, whether or not it has to be sold, and whether or not they take into consideration that the property was purchased by one spouse prior to the marriage and later transferred into their joint names. If this is not transferred to husband and wife as far as putting it in husband and wife’s name, and it is to two individuals, the presumption is is that the transfer was a gift of the equity, and each party owns a one half interest. So, if there’s what they call a partition action, which requires the property to be sold, the party who purchased the property does not have a special equity for the contribution or what they paid for the house. If you have any questions concerning this, give me a call at (727) 847-2288. I don’t do divorce law, so the question, if you’re going through a divorce, you need to talk to your divorce lawyer. Thank you.
- Published in Probate, Real Estate, Real Estate – Selling, Videos
When Someone Passes, What Happens to Their Bank Account?
Video Summary
When someone dies, what happens to their bank account? Well, the first thing you need to determine is whether the bank account was joint or whether it had any beneficiaries. If it is a joint account, then it’s presumed that it goes to the person that’s on the signature card with the decedent, or if there’s a designation of beneficiaries saying it’s payable on death to a certain beneficiaries, then it goes to the beneficiaries and all they need is a death certificate. If the account is just in the decedent’s name, well then it has to go through a probate proceeding, either under a will or if they don’t have a will. In circumstances where it’s a small bank account, then there is a proceeding called a distribution without administration wherein if the amount of the funeral bill, which you paid, or whoever paid it is more than what’s in the account or the same amount, then the person who paid the funeral bill can make application to the probate court for distribution without administration. So depending on the size of the bank account, there may be a relatively simple procedure to see about getting the account if the money was used to pay the funeral Bill, my phone number, (727) 847-2288.
- Published in Probate, Trusts, Videos, Website Notices & Agreements