Category: Trusts
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 […]
Estate planning attorneys sometimes turn to a no contest clause to possibly avoid estate plan challenges. An inheritance does not always make a recipient happy and it is especially likely to cause dissatisfaction if a sibling believes they have not been treated fairly. Traditionally, there was not much that could be done to prevent these […]
The funding of a trust is necessary if you set it up as part of your estate plan but not all of your assets necessarily belong in the trust. As you go through the process of setting up an estate plan with an “irrevocable trust” or a “revocable trust,” it is important to remember that […]
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 […]
A trust should change along with the laws. Trusts are created every day for personal and business reasons. A time-honored and ancient tradition, there is always a need for a third-party to manage property for the benefit of someone else. A settlor creates the trust and a trustee manages the trust property for the benefit […]
Alaska has long had an advantage as a preferred state for trusts but the decline of prices in the oil industry may weaken its position. One of the most popular trust haven states in the U.S has been Alaska as attorneys sought more friendly laws and taxes for their clients. Taxes were not the focus […]
The will of Melissa Mathison, who passed away in November with an estate estimated at $22 million, is missing. Melissa Mathison, famous for writing the screenplay for the movie E.T. and being the ex-wife of actor Harrison Ford, died of cancer in November. The couple’s divorce was the subject of much gossip as Mathison walked […]
A key part of an annual year-end review of financial planning should include a review of the estate plan. As the end of each year approaches, people who keep close watch on their financial plans take that time to look at investments, asset relocations and a close look at the status of their retirement plans. […]
The rules that allow first party special needs trusts to protect assets while receiving assistance from the government are being tightened. First party special needs trusts are established by a parent, grandparent, guardian or by court order for the sole benefit of a person with special needs. The assets of the person with special needs […]
A no contest clause is sometimes included in an estate plan when people do not want their relatives to challenge the wills and trusts. A trustee could be charged with abuse if they act in bad faith as demonstrated in a recent Virginia case. Estate planning can be difficult when blended families are involved and […]
