QUESTION
Can you set up a trust for a shared deed if the other one is incarcerated?
Asked on Feb 25th, 2014 on Estate Planning - California
More details to this question:
My mother gift granted the deed to her house to my brother and I. She then passed away shortly after. My brother is currently incarcerated. If we want to sell the house, can I do this on my own and set up a trust for his half of the assets? Or would it be easier to have him quitclaim, so I can set up a trust for him myself once the house is sold?
9 ANSWERS
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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There are a number of options depending on your objectives. Michigan has a "prisoner reimbursement act," however, so it is doubtful that they would allow your brother to simply gift his share. More likely, you would simply obtain a Power of Attorney from your brother that would allow you to handle all the arrangements to sell and sign all necessary documents.
Answered on Feb 28th, 2014 at 6:53 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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You can't do it on your own.
Answered on Feb 27th, 2014 at 8:48 PM
It is easier for him to participate in the sale. He can simply be a co-seller or he can quit claim to you and you put it in a trust for him.
Answered on Feb 27th, 2014 at 8:44 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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Your brother would have to sign the deed, and a notary public would have to be present, in order to sell the property or transfer it to you. Once sold he would be able to put his share of the funds into a trust.
Answered on Feb 27th, 2014 at 8:42 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Easier to have brother quitclaim his interest to you.
Answered on Feb 27th, 2014 at 8:42 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Your brother is going to have to sign documents you can do legwork and then carry the documents to your brother for signature. He could give you a power of attorney specifically saying that he grants you the power to sell his interest in the home and set up a trust for his benefit with the proceeds. That's probably the easiest way to do this, although you will have to get a notary to the prison to notarize his signature on the power of attorney, as it will need to be recorded in the county records.
Answered on Feb 27th, 2014 at 8:41 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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He as to sign off his interest, on way or the other, in order to sell the house and convey title to the new owner. Se an attorney and do it right, it will be cheaper in the long run.
Answered on Feb 27th, 2014 at 8:35 PM
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You can get power of attorney for your brother and sign to sell the property or quitclaim. Quitclaim will likely have tax consequences so it is not recommended.
Answered on Feb 27th, 2014 at 8:32 PM
You cannot sell the house without your brother signing something either (1) a Deed to a Trust you create for him, (2) a Deed conveying his interest to you, (3) a Power of Attorney whereby he gives you authority to sign Deed on his behalf. No matter what you do, the State will likely take his share of the sale proceeds to pay for his room & board while in prison.
Answered on Feb 27th, 2014 at 8:32 PM