Tag: trustee
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I’m a Trustee… Now What?
Inheriting property can be both a gift and challenge. As a trustee, you’re not just receiving real estate, you’re inheriting family responsibilities, property maintenance and tax implications. In Hawai‘i, the complexity increases given the unique real estate landscape. So what options can maximize the potential of your inheritance? Consider the 1031 Exchange, which permits trustees…
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Avoid Family Disputes About Real Estate
Sadly, some families fight over real estate after their parents have passed away. Although a trust protects against probate, there are other issues that may arise. Problems can develop between siblings due to unanticipated decisions that must be made, causing differences of opinion.
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What to Do Before a Loved One Passes
We have been receiving an increased number of phone calls from our clients’ children, notifying us about the imminent death of one of their parents. The children usually call in a panic, asking if anything needs to be done before their parent passes. We do our best to assist them; however, sometimes it is just…
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Legal: Fighting Over Assets?
“My parents made a trust with a lawyer. Why is it not working and the trustee and beneficiaries are fighting over the assets?” Sadly, these are words I often hear from families who call me after the second parent dies to settle their parents’ estate. The Trust might have worked from the drafting attorney’s point…