Legal Question in Wills and Trusts in California

inheritance

i was left $75000. in stocks 35 years ago. I couldnt touch it or do anything for that matter until i turned 25 years old, well, 6/30/07 i turned 25. What would be the best way to withdrawl it and place it in different places so that the tax and government do not take a lot? How much approximately do u think its up to now? I dont know exactly what stocks but i was told to look in the newspaper daily to see if the dow or nasdac went up or down.


Asked on 7/17/07, 6:46 pm

4 Answers from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: inheritance

Congratulations. What you need is financial and tax advice, not legal advice. Maybe you can roll it over (without selling it) into an IRA or other account so you don't have to pay taxes yet. If you have a problem getting access to, or information about, the funds, or you believe they were mismanaged in some way, then you should consult a lawyer in person. P.S. Your original $75k should have increased by 600% or more if it was invested in several stocks.

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Answered on 7/17/07, 7:12 pm
H.M. Torrey The Law Offices of H.M. Torrey

Re: inheritance

Your best and most efficient route here is to consult with an experienced tax/financial attorney regarding your options at this point, and providing them with the legal document to review that grants you the stock gifts at issue. Our Law Firm specializes in all of these areas and can efficiently and effectively handle everything you are requesting herein. Contact us directly this week for further assistance.

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Answered on 7/17/07, 7:19 pm
Donald Field Donald L. Field, Jr., Attorney at Law

Re: inheritance

to answer these questions the trust agreement, trust account statements for the securities and trust tax returns must be reviewed. you should retain a qualified attorney to assist you with this important matter.

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Answered on 7/19/07, 10:55 am
Mitchell Roth MW Roth, Professional Law Corporation

Re: inheritance

If no one turned over control and ownership of the stock to you by now, you need to hire an attorney to pursue this. There is no way to know the value of the stock today. It could be tons or very little. Whoever had control of the funds until your 25th birthday will have to account, and may be liable for any losses on any number of theories.

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Answered on 7/20/07, 6:24 pm


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