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Debtor is unable to obtain copy of revocable trust where he is a...
Yes, no trick, house had equity.
Sent from my iPhone
On Mar 5, 2013, at 1:04 PM, Holly Roark wrote:
> Dennis, in your scenario (which is different from the one I have here), when you "revoke the trust" I am presuming there still needs to be equity to make it worth your while, or is there some other trick I am not aware of?
>
>
>
>
> Holly Roark
> holly@roarklawoffices.com **primary email address**
> www.roarklawoffices.com
> Central District of California
> Consumer Bankruptcy Attorney
> 1875 Century Park East, Suite 600
> Los Angeles, CA 90067
> T (310) 553-2600
> F (310) 553-2601
>
> **For a quicker response, email me at holly@roarklawoffices.com.
> I only use gmail for my listservs, and am likely to miss private emails
> directed to my gmail account.**
>
>
>
> On Sun, Mar 3, 2013 at 9:08 PM, Dennis wrote:
>
> When I was a trustee, lawyer stated property in trust. I said revocable, debtor said yes, I said, "I revoke the trust.". I then sold the house. >
> Dennis
>
> Sent from my iPhone
>
> On Mar 2, 2013, at 1:54 PM, robert90701@aol.com wrote:
>
>>
>>
>> Hello:
>>
>> If you are a beneficiary of a irrevocable trust, or a revocable trust while the Trustor is very old or ill, then you need to analyze if filing bankruptcy is the right thing to do. Thats because the trustee may have a right to those assets for 180 days after filing your petition. Just because your case may have been discharged and the case closed, if there is still time remaining, you could lose those assets if not protected by an exemption.
>>
>> Good Luck starts with a strategy and a plan. The time is now to lower 2012 taxes.
>>
>>
>>
>> Robert J. Suhajda, MS,CPA
>>
>> 17721 Norwalk Blvd. #43
>>
>> Artesia, CA 90701
>>
>> 562-924-8922
>>
>>
>>
>>
>>
>> Tax Relief Lawyer. Former financial auditor and controller. Admitted to US Tax Court, Income Tax, IRS representation, Fiduciary income tax returns, Estate and Gift tax returns,
>>
>>
>>
>> Homeowner Association Strategist.
>>
>>
>>
>> As a strategist, I analyze and integrate the operations, reserve study, budget, and financial statements into a unitary plan for 1 5 years, utilizing my experience as
>>
>> a former treasurer and president of a homeowners' association and corporate
>>
>> controller and auditor, to minimize homeowner association dues.
>>
>>
>>
>> In a message dated 3/2/2013 7:21:55 A.M. Pacific Standard Time, marge@margeslaw.com writes:
>>
>> Trust attorney cannot be compelled to turn over any estate planning materials if his client is still alive. It is a breach of his ethical duty to his living client. The trust attorney can write a letter that states that and that settlor is alive; I have done it. Usually its because the debtor states they are an heir or a beneficiary. You are not an heir until somebody has died.
>>
>>
>> Margaret Norman, Attorney
>>
>> 111 N. Sepulveda Blvd. #355
>>
>> Manhattan Beach, Ca. 90266
>>
>> 310-376-7873
>>
>> Marge@Margeslaw.com
>>
>>
>>
>>
>>
f Giovanni Orantes
>> Sent: Friday, March 01, 2013 6:38 PM
>> To: cdcbaa@yahoogroups.com
>> Cc: Strictly Bankruptcy Issues
>> Subject: Re: [cdcbaa] Debtor is unable to obtai n copy of revocable trust where he is a contingent beneficiary - can trustee force Settlor to turn over?
>>
>>
>>
>>
>> Provide declaration of debtor to the trsutee stating what you just said.
>>
>>
>> On Fri, Mar 1, 2013 at 6:34 PM, Holly Roark wrote:
>>
>>
>>
>> Chapter 7 Trustee has requested a copy of a trust where the debtor is a contingent beneficiary (or debtor believes he is a contingent beneficiary). Both debtor and Settlor do not have a copy of the trust, and trust attorney will not provide a copy. Can Chapter 7 trustee compel the turn over of this trust? According to the trust attorney, it is revocable and Settlor can change it at any time. Debtor has done his best to comply with trustee's demand to provide, but if he can't get a copy he can't get a copy.
>>
>>
>> Thoughts?
>>
>>
>>
>>
>> Holly Roark
>>
>> holly@roarklawoffices.com **primary email address**
>>
>> www.roarklawoffices.com
>>
>> Central District of California
>>
>> Consumer Bankruptcy Attorney
>>
>> 1875 Century Park East, Suite 600
>>
>> Los Angeles, CA 90067
>>
>> T (310) 553-2600
>>
>> F (310) 553-2601
>>
>>
>> **For a quicker response, email me at holly@roarklawoffices.com.
>>
>> I only use gmail for my listservs, and am likely to miss private emails
>>
>> directed to my gmail account.**
>>
>>
>>
>>
>>
>> --
>>
>> Giovanni Orantes, Esq.
>>
>> Certified Bankruptcy Specialist* ;
>> Orantes Law Firm, P.C.
>> 3435 Wilshire Blvd. Suite 1980
>> Los Angeles, CA 90010
>> Tel: (213) 389-4362
>> Fax: (877) 789-5776
>> e-mail: go@gobklaw.com
>> website: www.gobklaw.com
>>
>> *Board Certified - Business Bankruptcy Law - American Board of Certification
>>
>> *Board Certified - Consumer Bankruptcy Law - American Board of Certification
>>
>>
>> WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
>>
>> SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
>>
>> Note: The information contained in this e-mail message is confidential information intended only for the use of the individual or entity named. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by telephone or e-mail and delete the original e-mail >>
>> IRS Circular 230 Disclosure: In order to comply with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
>>
>>
>
>
>
Yes, no trick, house had equity. Sent from my iPhoneOn Mar 5, 2013, at 1:04 PM, Holly Roark <hollyroark22@gmail.com> wrote:
Dennis, in your scenario (which is different from the one I have here), when you "revoke the trust" I am presuming there still needs to be equity to make it worth your while, or is there some other trick I am not aware of?
Holly Roark
The post was migrated from Yahoo.
When I was a trustee, lawyer stated property in trust. I said revocable, debtor said yes, I said, "I revoke the trust.". I then sold the house.
Dennis
Sent from my iPhone
On Mar 2, 2013, at 1:54 PM, robert90701@aol.com wrote:
> Hello:
>
> If you are a beneficiary of a irrevocable trust, or a revocable trust while the Trustor is very old or ill, then you need to analyze if filing bankruptcy is the right thing to do. Thats because the trustee may have a right to those assets for 180 days after filing your petition. Just because your case may have been discharged and the case closed, if there is still time remaining, you could lose those assets if not protected by an exemption.
>
> Good Luck starts with a strategy and a plan. The time is now to lower 2012 taxes.
>
>
>
> Robert J. Suhajda, MS,CPA
>
> 17721 Norwalk Blvd. #43
>
> Artesia, CA 90701
>
> 562-924-8922
>
>
>
>
>
> Tax Relief Lawyer. Former financial auditor and controller. Admitted to US Tax Court, Income Tax, IRS representation, Fiduciary income tax returns, Estate and Gift tax returns,
>
>
>
> Homeowner Association Strategist.
>
>
>
> As a strategist, I analyze and integrate the operations, reserve study, budget, and financial statements into a unitary plan for 1 5 years, utilizing my experience as
>
> a former treasurer and president of a homeowners' association and corporate
>
> controller and auditor, to minimize homeowner association dues.
>
>
>
> In a message dated 3/2/2013 7:21:55 A.M. Pacific Standard Time, marge@margeslaw.com writes:
>
> Trust attorney cannot be compelled to turn over any estate planning materials if his client is still alive. It is a breach of his ethical duty to his living client. The trust attorney can write a letter that states that and that settlor is alive; I have done it. Usually its because the debtor states they are an heir or a beneficiary. You are not an heir until somebody has died.
>
>
> Margaret Norman, Attorney
>
> 111 N. Sepulveda Blvd. #355
>
> Manhattan Beach, Ca. 90266
>
> 310-376-7873
>
> Marge@Margeslaw.com
>
>
>
>
>
Giovanni Orantes
> Sent: Friday, March 01, 2013 6:38 PM
> To: cdcbaa@yahoogroups.com
> Cc: Strictly Bankruptcy Issues
> Subject: Re: [cdcbaa] Debtor is unable to obtai n copy of revocable trust where he is a contingent beneficiary - can trustee force Settlor to turn over?
>
>
>
>
> Provide declaration of debtor to the trsutee stating what you just said.
>
>
> On Fri, Mar 1, 2013 at 6:34 PM, Holly Roark wrote:
>
>
>
> Chapter 7 Trustee has requested a copy of a trust where the debtor is a contingent beneficiary (or debtor believes he is a contingent beneficiary). Both debtor and Settlor do not have a copy of the trust, and trust attorney will not provide a copy. Can Chapter 7 trustee compel the turn over of this trust? According to the trust attorney, it is revocable and Settlor can change it at any time. Debtor has done his best to comply with trustee's demand to provide, but if he can't get a copy he can't get a copy.
>
>
> Thoughts?
>
>
>
>
> Holly Roark
>
> holly@roarklawoffices.com **primary email address**
>
> www.roarklawoffices.com
>
> Central District of California
>
> Consumer Bankruptcy Attorney
>
> 1875 Century Park East, Suite 600
>
> Los Angeles, CA 90067
>
> T (310) 553-2600
>
> F (310) 553-2601
>
>
> **For a quicker response, email me at holly@roarklawoffices.com.
>
> I only use gmail for my listservs, and am likely to miss private emails
>
> directed to my gmail account.**
>
>
>
>
>
> --
>
> Giovanni Orantes, Esq.
>
> Certified Bankruptcy Specialist* ;
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 1980
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com
>
> *Board Certified - Business Bankruptcy Law - American Board of Certification
>
> *Board Certified - Consumer Bankruptcy Law - American Board of Certification
>
>
> WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
>
> SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
>
> Note: The information contained in this e-mail message is confidential information intended only for the use of the individual or entity named. If the reader of this message is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by telephone or e-mail and delete the original e-mail at (213) 389-4362 or (888) 619-8222.
>
> IRS Circular 230 Disclosure: In order to comply with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
>
>
>
When I was a trustee, lawyer stated property in trust. I said revocable, debtor said yes, I said, "I revoke the trust.". I then sold the house. Dennis Sent from my iPhoneOn Mar 2, 2013, at 1:54 PM, robert90701@aol.com wrote:
Hello:
If you are a beneficiary of a irrevocable trust, or a revocable trust while
the Trustor is very old or ill, then you need to analyze if filing bankruptcy is
the right thing to do. Thats because the trustee may have a right to those
assets for 180 days after filing your petition. Just because your case may have
been discharged and the case closed, if there is still time remaining, you could
lose those assets if not protected by an exemption.
Good Luck starts with a strategy and a plan. The time is
now to lower 2012 taxes.
Robert J. Suhajda,
MS,CPA
17721 Norwalk Blvd. #43
Artesia, CA
90701
562-924-8922
Tax Relief Lawyer. Former financial auditor and
controller. Admitted to US Tax Court, Income Tax, IRS representation, Fiduciary
income tax returns, Estate and Gift tax returns,
Homeowner Association
Strategist.
As a strategist, I analyze and integrate the operations,
reserve study, budget, and financial statements into a unitary plan for 1 years, utilizing my experience as
aformer treasurer and president of a homeowners' association and
corporate
controller and auditor, to minimize homeowner association
dues.
In a message dated 3/2/2013 7:21:55 A.M. Pacific Standard Time,
marge@margeslaw.com writes:
Trust
attorney cannot be compelled to turn over any estate planning materials
if his client is still alive. It is a breach of his ethical duty to his living
client. The trust attorney can write a letter that states that and that
settlor is alive; I have done it. Usually its because the debtor states
they are an heir or a beneficiary. You are not an heir until somebody
has died.
Margaret
Norman, Attorney
111 N.
Sepulveda Blvd. #355
Manhattan
Beach, Ca. 90266
310-376-7873
The post was migrated from Yahoo.