Category: Trusts
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 […]
When it comes to investment accounts, the answer is usually pretty simple. They belong in your trust. Investment accounts are the one class of assets that should almost always go into your trust, according to The Herald Bulletin in “If you have a trust, that’s where your investments should go.” When an experienced estate planning […]
There can be confusion on the definition and need for an estate plan. We will all have estates someday, so it may be helpful to know what a plan actually does. While estate planning can be complicated to the layman, there are some basics that make it less confusing, according to the Vail Daily in […]
Misconceptions about wills and trusts often creates confusion. TCPalm recently discussed common misconceptions surrounding wills and trust in “Common misconceptions about wills and trusts.” Among the misconceptions are: Having a will means that your estate does not have to go through probate. This is completely false. In most cases, wills have to be submitted to […]
Trustees need to plan for automatic termination of Great Depression trusts. Dynastic trusts from the days of the Great Depression are near expiration and planning is required, according to Wills, Trusts & Estates Prof Blog in “Preparing for Trust Termination.” Most of the trusts created at that time have mandatory termination dates at which time, […]
Consider carefully before making your trust the beneficiary of your IRA. For tax purposes, it is not always a good idea to designate a trust as the beneficiary of your IRA, according to the Financial Advisor in “Is Naming A Trust As Beneficiary Of A Client’s IRA A Good Idea?“. The biggest and most important […]
An estate plan can put you on the path of being remembered for charitable giving. If you want to be remembered for being a charitable benefactor, you need to get started and an estate plan is a good beginning, according to the Port Huron Times Herald explains in “Plan today to make a difference tomorrow.” […]
Attorney-Client privilege is important in estate planning but there could be exceptions. Attorney-client privilege is one of the key doctrines of our legal system but there are exceptions as explained by the Wills, Trusts & Estates Prof Blog in “Treasure-Hunter’s Documents Might Be in Deep Water.” This doctrine even has an important place in estate […]
It turns out that trusts can behave just like people. Trusts are very similar to individuals in that they pay taxes and can donate to charity. A recent court case contains a warning as Wealth Management discusses in “Tax Court Disallows Trust’s Charitable Deduction for Want of Charitable Intent.” For years the trust in question […]
While estate planning has many different documents it comes down to two categories. One of the best ways to begin estate planning is to break the process down into two categories, according to the Motley Fool in “The Estate-Planning Documents Everyone Needs.” There are all sorts of different legal documents in estate planning that are […]
