Layne Rushforth's Estate Planning Pages Estate Planning Questions and Answers
Excerpts from questions sent to questions@rushforth.org.

This page contains questions that were sent via e-mail to questions@rushforth.org, along with the responses to those questions. All answers were written by attorney Layne Rushforth, who practices law in Las Vegas, Nevada, and nothing here is intended to solicit legal work for any other state. Those submitting questions are advised to consult competent legal counsel, but that advice has been omitted from most of the answers shown here. The questions and answers have been modified both to conceal the identify of the person asking the question and to clarify the legal issues, and sometimes several similar questions and answers have been blended together. DISCLAIMER: The answers given are provided free of charge as general information only and do not constitute legal, financial, or investment advice. Laws vary from state to state, and many laws have exceptions that may apply to each situation. The facts, circumstances, and the provisions of pertinent legal documents make each situation unique. WARNING: Before acting (or not acting) be sure to consult with the appropriate attorney (as to legal matters), certified public accountant (as to tax returns and tax matters), and/or an investment advisor (as to investments) who is licensed in the state whose laws apply to the situation, who has experience in the field, and who has an adequate opportunity to review the pertinent facts, documents, and laws related to your situation.

Question List

Click on the title of the question to view the complete question and answer. The most recent questions are at the top of each category.

Categories

  1. Questions about estate, gift, and generation-skipping transfer taxes:
    1. Can a "pure trust" or "business trust" eliminate income and estate taxes?
    2. What is an "ABC Trust"?
    3. What is a "QTIP Trust"?
    4. Can the GST exemption be allocated to a trust for unborn grandchildren?
    5. Are political parties "nonprofit organizations" for estate planning. purposes?
    6. Is charitable giving the best way to reduce our taxable estate?
    7. Are investments the key to reducing the estate tax?
    8. What is the best way for my uncle to reduce his estate for estate tax purposes?
    9. Can I pay my children's debts and taxes without making a taxable gift?
    10. Does the recipient of a $10,000 gift have to pay any taxes?
    11. Can a terminally ill person save estate taxes by making death-bed annual-exclusion gifts?
    12. Should a bypass trust in an A/B Trust be the beneficiary of an IRA?

  2. Questions about estates, trusts, wills, and probate:
    1. What should one pay for a revocable trust?
    2. Can my parents remove my sister from an irrevocable trust?
    3. Where should I keep my original will?
    4. Can an Executor take anything he or she wants?
    5. What is the best way to distribute my estate at death?
    6. Should I contest my mother's trust?
    7. Can I contest the will of a "significant other" whom I lived with but did not marry?
    8. If a parent makes unequal lifetime gifts, can the children agree to equalize things later?
    9. What is a "Qualified Subchapter S Trust and why is it mentioned in my revocable trust?
    10. What should be in a will or trust for a child or parent with special needs?

  3. Questions about property ownership:
    1. Does joint tenancy work?
    2. How does my mother add my wife and me to the title to some land she owns?
    3. Do I have the right of access to property I inherited?
    4. What can I do to make Father share Mother's belongings?

  4. Questions about income taxes:
    1. What is the best way to leave my IRA to my spouse and children?
    2. How is trust income taxed? To the settlor or to the beneficiaries?
    3. Can I give stock obtained through an incentive stock option to a charitable remainder trust?

  5. Miscellaneous Questions:
    1. How do I pick an estate planning attorney?
    2. Are post-nuptial property agreements enforceable?
    3. As a custodian under the Uniform Transfers to Minor Act, can I pay taxes and pay medical bills?

Links within rushforth.org

Links within rushforth.org
Updated 5 March 2000.

Web Pages © Copyright 1995-2000, Layne T. Rushforth
Informational text © Copyright 1988-2000, Layne T. Rushforth
The URL of this page may be freely distributed.
All other rights are strictly reserved.

Email address:
layne@rushforth.org
Your comments and suggestions will be greatly appreciated.