when you ask too many questions family trust requires a lawyer to speak for you

What questions should I ask my family attorney during a consultation?

While your questions may vary depending on the type of situation you need assistance with, here are the top 10 questions to ask your family attorney during a consultation: 1. What is your level of experience?

Do you have to pay to have a trust drawn up?

You need to pay upfront to have the document prepared and make sure the trust is being managed. These costs may be more than those involved in having a will drawn up and probating a small estate. Do I Still Need a Power of Attorney?

Do I need a trust?

Learn more about trusts, how they work, and whether you might need one. Many attorneys recommend trusts to their clients, but not everyone needs a trust. Here are some questions and answers to help you decide if a trust might be useful in you situation.

Should I set up a trust for my adult child?

A trust doesn't have to transfer all the property at once, instead in can transfer property over time. A parent could set up a trust to take care of the bills of an adult child with special needs without burdening their child with a lump payment.

Can a trustee do whatever they want?

The trustee cannot do whatever they want. They must follow the trust document, and follow the California Probate Code. More than that, Trustees don't get the benefits of the Trust. The Trust assets will pass to the Trust beneficiaries eventually.

Can a beneficiary override a trustee?

A beneficiary can override a trustee using only legal means at their disposal and claiming a breach of fiduciary duty on the Trustee's part. If the Trustee stays transparent and lives up to the trust document, there is no reason to “override” the Trustee.

What are the responsibilities of a trustee?

The trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust. Both roles involve duties that are legally required.

What are the limitations of a trust?

What are the Disadvantages of a Trust?Costs. When a decedent passes with only a will in place, the decedent's estate is subject to probate. ... Record Keeping. It is essential to maintain detailed records of property transferred into and out of a trust. ... No Protection from Creditors.

What a trustee Cannot do?

A trustee cannot lie about anything related to the trust. A trustee cannot provide false information to the beneficiaries or the court. For example, when a beneficiary asks about something relating to the trust, the trustee must answer truthfully.

How long does it take to get inheritance money from a trust?

Once this document has been obtained from the Probate Registry, an official copy will need to be sent to all of the banks and financial institutions that have asked to see it. Generally, collecting straightforward estate assets like bank account money will take between 3 to 6 weeks.

How is a trustee held accountable?

Trustees must follow the terms of the trust and are accountable to the beneficiaries for their actions. They may be held personally liable if they: Are found to be self-dealing, or using trust assets for their own benefit. Cause damage to a third party to the same extent as if the property was their own.

What are at least 5 duties of a trustee?

Main Duties Of A TrusteeDuty to the terms. A trustee must know and adhere to the terms of the trust which are prescribed by the trust deed.Duty of loyalty. Trustees have a fiduciary duty towards beneficiaries. ... Duty to manage the trust efficiently. ... Duty to act personally. ... Duty to consider the beneficiaries. ... Duty to account.

How long does a trustee have to notify beneficiaries?

Several states require you to send a notice to all trust beneficiaries within a certain time after you take over as successor trustee of the trust. Most states give you 30 or 60 days to send this initial notice.

What are the disadvantages of a family trust?

Disadvantages of a Family Trust You must prepare and submit legal documents, which the court charges a fee to process. The second financial disadvantage of a family trust is the lack of tax benefits, especially when it comes to filing income taxes. When the grantor dies, the trust must file a federal tax return.

Who owns the property in a trust?

trusteesOne common misconception is that the assets in the trust fund are legally owned by the trust. In fact, a trust, unlike a company, cannot own assets and instead the trustees are the legal owners of the assets.

Can a trustee revoke a trust?

The settlor or the trustee can only revoke the trust if the trust deed gives them the power to do so. The trust deed will set out the process for the settlor or trustee to revoke the trust, and this process will also require planning and paperwork.

Why use a trust instead of a will?

Is there an advantage in using a trust instead of a will? The main advantage to using a trust is that a trust helps to avoid probate. Probate is the court process though which assets are transferred and debts are paid off. The process can be very expensive and can take a long time.

What happens to an AB trust when the trust maker dies?

An AB trust is like a living trust, but when the trust maker dies, an AB trust splits into two buckets: One bucket of property goes directly to beneficiaries, and property in the other bucket is set aside for use by another person before it passes on to the final beneficiaries.

What is a living trust?

A living trust is a trust created while the property owner is alive and it is revocable for the lifetime of the trust maker. In contrast, a “testamentary trust” is one that takes effect when the trust maker dies. Some people use a will in addition to a trust to distribute their property.

Why is a trust more expensive than a will?

A trust may take longer to create than a will and can be more expensive. This is because trusts are usually more complicated than a basic will . However, in many situations, a trust can save money in the long run.

How does a living trust work?

After you make a living trust, you transfer property into the trust and you become the trust’s trustee.

Why do people use AB trusts?

AB trusts are most often used as marital trusts, because they allow a surviving spouse to use the deceased spouse’s property before the property passes to deceased spouse’s children. For many years, couples also used AB trusts avoid or reduce estate taxes.

Is a trust private or public?

However, a trust stays private. Only the beneficiaries and the trustee are informed of the trust. A trust can be more flexible than a will. This helps those who have complicated relationships and need a complicated estate plan.

Why do you need to ask your trust lawyer before signing anything?

Because it involves your assets in the event of your death, you need to ensure you know every detail for your trust. Here are eight questions you need to ask your trust lawyer before signing anything.

What is the difference between a living trust and a power of attorney?

Living trusts control all of your assets if you become incapacitated, but many attorneys still suggest that you draw up a power of attorney to make financial and medical decisions on your behalf. The power of attorney protects you as an individual whereas a living trust controls where your assets go when you pass.

What is an AB trust?

There are different types of trusts including an AB trust, revocable, and irrevocable trust. An AB trust is created by a married couple with the objective of minimizing estate taxes due to double-taxation.

Can a trust be challenged?

Yes, a trust can be challenged just like a will. If for any reason the trust maker was mentally incompetent, forced, unduly influenced, or deceived when setting up the trust, then the contest can be successful.

Can a trust override a will?

There are certain situations when a trust can override a will. This is usually in the case of an irrevocable living trust. If you give your house to the irrevocable trust, you give up your ownership of the home, meaning you cannot give it to someone in your will.

What to expect when you have a divorce case?

During your divorce case, you may have many questions. You want an attorney who will be responsive and put your mind at ease. There is nothing more frustrating than leaving multiple messages at an attorney’s office with no answer. Understanding your attorney’s practices can help alleviate uncertainty and frustration.

Can an attorney spend a small percentage of their time on family law?

If an attorney has been practicing for many years but spends only a small percentage of their time on family law, they may not be as effective as someone who spends the majority of their time on family cases.

Can an attorney tell you when your case is finished?

Again, many factors affect the time your case will take, and it’s impossible to tell for sure when it will be finished. However, your attorney can advise you of how different circumstances will affect the length of your case.

Do divorce cases go to trial?

Even though most cases do not go to trial, finding a family law attorney with trial experience is important. Not all attorneys are comfortable taking a case to trial. They may pressure you to settle your divorce case on terms you don’t feel comfortable with. Or they may direct you to another attorney if your case becomes too complicated.

Why is it so expensive to hire a family lawyer?

Because hiring a family attorney can become expensive, especially if the case goes to court, you’ll at least want to determine what your other options may be. Arbitration and other out-of-court arrangements may be made to spare you not only time and expenses, but undue anxiety and other emotional distress.

What to do if you are embroiled in a family dispute?

If you find yourself embroiled in a family dispute, you should consider seeking legal counsel from an established family attorney. A family attorney can assist with dealing in matters of divorce, legal separation, child custody, child support, paternity, restraining orders, spousal support, premarital agreements, wills and trusts, ...

Why is it important to find out who your typical client is?

It’s also important to find out who their typical client is, because if that attorney deals primarily with corporate clients or clients far beyond your financial means, they may not be used to handling a client like you or your best interests. 3.

Why do lawyers provide free consultations?

Because lawyers often provide a free or low-cost consultation to discuss case details and possible avenues to pursue, you should take that opportunity to ask several questions. They will help you determine not only the merit of your case, but whether that attorney may be the right one for you.

Do you need to know about divorce?

No matter what your situation is, it’s absolutely vital for you to know as much as you can about your situation. This question will vary for each client, but if you’re entangled in a nasty divorce, you will want to know all there is to know about legalities involving divorce. The same would go for wills and trusts or child custody and alimony payments.

What to do if your lawyer doubts you?

Tell the Truth. If your lawyer doubts you in the consultation, or doesn't think you have a case, while that may change over time, getting over an initial disbelief is very hard. You have to prove your case. Your attorney is not your witness. They are your advocate - but you are responsible for coming up with proof.

What happens if you don't pay your lawyer?

If you don't pay your lawyer on the day of trial, or however you have agreed to, then while he or she may be obligated by other ethical duties to do his/her best, they won't be motivated by sympathy for you, and it will show in court.

Why do people hire lawyers?

Most people hired attorneys because they don't want to sit in court. Well, truth be told, neither do I. The difference between lawyer and client is that the lawyer expects it to take a long time and understands. The client typically thinks it's unjustified. So, your hard truth is that each case takes time. Be patient.

Why is credibility important in court?

Credibility is one of the most important things in this world - and most important in a courtroom. If you care enough only to wear sweats to the courthouse, then the judge will see that you don't care, and that will be reflected in their desire to help you, listen to you, and decide in your favor. Step it up.

What to do if no one can confirm a story is true?

If no one can confirm that the story is true, you will at least need something external, such as a hard copy document, to prove your case. Be prepared.

Can a lawyer take your money?

While lawyers can certainly take your money and your time and we can file a case that will be very hard to win, if you don't care enough about your life to get a contract, the judge is not very likely to be on your side. At least, not automatically. Oral contracts are extremely hard to prove. What are the terms.

Do lawyers need to take more cases?

Don' t forget that lawyers don't always need to take more cases. Yes, new clients are a great thing, but I don't want clients that will eat all my time and get no where fast. Your tip: keep your communication very simple and to the point.

Can an attorney speak with a party they know to be represented?

The general rule is that an attorney cannot speak with a party they know to be represented. However, for example, in CA, the exceptions to that rule include conversations initiated by the represented party for the purpose of getting a 2nd opinion.#N#More

Is it illegal to speak to a different lawyer?

It is not illegal to speak to a different lawyer if you already have one (2nd opinions are okay and sometimes encouraged and required), the attorneys don't want to be scene as interfering in an existing attorney client relationship. Think of it like this.

Can a potential client fire a lawyer without speaking to another lawyer?

However, it really is impossible for a potential client to know if he should fire his lawyer without speaking to another for a second opinion.