QUESTION
What kind of receipt should we have to show that the monies are exchanged?
Asked on Jul 22nd, 2014 on Estate Planning - Michigan
More details to this question:
My parents have both passed away and I am the sole trustee of a trust by an attorney. The only thing in the trust is my parent’s home. My wife owns 1/3 of the house, my sister owns 1/3 and I have 1/3 as well. My sister and I have agreed on a price for the home. Tomorrow we are giving her $18,000.00 as a settlement between all of us. We agreed on $20,000.00. We are holding $2000.00 for added expenses. My sister has also signed a quick claim stating that she was releasing herself from the estate and anything else that could come up. We have an attorney but want to make this exchange.
4 ANSWERS
I am not sure what you mean when you say you have an attorney. If you have an attorney you should be consulting with your attorney about what you are trying to accomplish and what paperwork is necessary to accomplish your objective.
Answered on Jul 25th, 2014 at 5:01 PM
Business Law Attorney serving Bingham Farms, MI
at
James T. Weiner, P.C.
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A cancelled check and a written receipt even on a napkin would do.
Answered on Jul 24th, 2014 at 4:38 PM
Criminal Defense Attorney serving Southfield, MI
Partner at
Law Offices of Ezra N. Goldman P.C.
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Sorry - the purpose of this forum is not to second guess your attorney. I am sure s/he has this well under control.
Answered on Jul 24th, 2014 at 10:01 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Call your attorney, that is better than the Internet!
Answered on Jul 24th, 2014 at 10:01 AM