BobKamman
Level 15
11-21-2020
09:58 AM
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@Terry53029 "Probate is a lot more expensive than setting up a simple trust"
Not where I live. Perhaps in states with archaic laws like New York and California -- unfortunately, where many of the national media are headquartered, with writers like you who think there is a federal probate code. And it's absurd to suggest putting one asset in a trust, while leaving the rest to be probated.
Where I live, though, it's a misdemeanor for tax preparers not to report elder abuse or elder neglect to an agency that investigates it. The scenario here certainly waves a few red flags.