NotePad / ID# 101045
NotePad / ID# 101045
 |
|
||||||||||||
| Submitted/Archived Notes |
| Submitted by Demo Attorney (Attorney) on Saturday,
November 26, 2005 at 10:42:26 AM: All charitable allocations are 100% deductable from the transferor's (your) estate for estate tax purposes, regardless of the value of the charitable allocation(s). To answer your second question, the way the allocation language is currently reading in your trust, it will not be a problem to increase (or decrease) the amount going to charity, as the remainder of the Trust Estate (remaining after the charitable distributions) will be distributed accordingly as it is currently set up to do. John Q. Lawyer |
| Submitted by John J. Doe (Client) on Saturday,
November 26, 2005 at 10:33:30 AM: Will the value of the allocations going to the charities as nlisted in Section 8.2 be part of our "taxable" estate? And, can we list additional charitable allocations in an amendment without having to change other provisions in the trust? John & Mary Doe |
| Submitted by Demo Attorney (Attorney) on Saturday,
November 26, 2005 at 10:26:10 AM: Yes. In Section 8.6, the provisions require that any beneficiary must have obtained the age of 25 years in order to receive his/her allocation outright, and free of trust. If they become "vested" before obtaining that age (meaning that the survivor of you has died before they respectively obtained the age of 25), then the trustee shall provide for them according to the stipulations in Article Ten that allows for the younger beneficiaries to be supported from their respective portions for health, education, maintenance and support purposes. John Q. Attorney |
| Submitted by John J. Doe (Client) on Saturday,
November 26, 2005 at 10:15:15 AM: In Section 8.3, we have allocations going to our grandchildren. Please clarify for us as to what happens if the survivor of us dies before they are of adult age? John & Mary Doe |
| Submitted by Gary Loftsgard-Test (Attorney) on
Thursday, January 20, 2005 at 5:23:40 PM: This is a NOTICE that your Living Trust and other Estate Planning Portfolio documents, as posted in your Client Console (and the Attorney Console), have been APPROVED by your legal counsel, the Network Attorney identified below, as being sufficient and suitable to meet your current estate planning goals and objectives - as such were indicated in your Online Data Questionnaire (ODQ) and in the interview(s) conducted thereof - to the extent that a Revocable Living Trust can meet your estate planning goals and objectives. Although you may contact your Network Attorney at any time with questions concerning your trust (additional legal fees may apply), your Network Attorney is NOT responsible for the proper funding and implementation of your trust either initially, or ongoing. Essentially, only you can accept the primary responsibility of funding and implementing your trust. However, it is highly recommended that you seek out the assistance of your personal ITS Associate (and/or other personal advisor that you may work with from time to time) to accomplish the same. If you wish, you may contact your Network Attorney directly by phone (or mail) or, preferably, by logging on to your Client Console and submitting a "Note" on your ODQ NotePad link. When you submit a message through your ODQ NotePad, your Network Attorney, your ITS Associate, and the ITS Administrative Office will all be sent an Alert e-Mail regarding your message/request. |
| New Notes Entry: |