Category: Trustee
McClatchy Trust case finally goes to court. James B. McClatchy created a trust in an effort to prevent his media company from being absorbed by a larger company. His son, Carlos McClatchy, is now getting his day in court concerning the trust after years of preliminary work, according to the Sacramento Bee in “San Francisco […]
Daughter sues her mother for wasting $13 million of inheritance. A trust set up for a young girl was originally overseen by Citibank. However, in 2003 the mother took over the trust creating a battle in the future, according to the Daily Mail in “Daughter sues her ‘self-involved’ mother for ‘frittering away more than $13m of […]
Wealth created by the original generator does not remain, unless properly maintained. The heirs of James Jewett Stillman have found themselves in the position of auctioning off art to obtain money to save the estate, according to Bloomberg in “New York Banking Royalty’s Heirs Are Unloading Art to Save the Family Estate.” Stillman, who is […]
Dramatic shift possible in equities and bonds resulting in impact on investment in trust assets. The equity and bond markets have been relatively stable with a negative correlation for the past three decades. However, that may be about to change, according to the Financial Advisor in “Forget 30 Years Of Stock And Bond Divergence, Bernstein […]
Because of potential prejudice by state courts in a suit against a trust, it may be beneficial to head to federal court. If a plaintiff is from out of state, it is sometimes wiser to sue an estate plan in federal court, according to the Wills, Trusts & Estates Prof Blog in “Trustee Citizenship Regulates […]
Sometimes it is necessary to name a trust protector as well as a trustee. Because it is not always possible to name the right person to be a trustee over an estate, it is sometimes necessary to designate a trust protector, according the Yuma Sun in “Estate Planning: Who oversees a trust administration?”. Basically, a […]
Fans of Prince may hear unreleased recordings sooner rather than later. Trustees of Prince’s estate may need to come up with some cash fast, according to a People report “Taxes Could Wipe Out Half of Prince’s $250 Million Estate and Force Early Sale of His Unreleased Songs, Trustee Says.” Because the musician did not have […]
Following a few simple rules can make the choice of naming a trustee an easier decision. People sometimes delay naming a trustee because it is a difficult decision with wide-spread ramifications. Sticking close to some guidelines can get the job done and create peace of mind. Recently, the Daily Press offered some advice in “Trustees […]
Getting prepared for meeting with an estate planning attorney can improve efficiency. Meeting with an estate planning attorney for the first time can be much more productive if you have prepared in advance. Recently, the Wills, Trusts & Estates Prof Blog offered some tips about how you can prepare and make that first meeting with […]
If you appoint one of your children as power of attorney you should make certain they can handle the job. The person you would want to handle your affairs if you are incapacitated is one of the questions you may have to face in preparing an estate plan. The first instinct of most people is […]
