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Estate Planning › Beneficiaries › Creditors

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Charles E. Rounds, Jr. - Suffolk University...

Whether an equitable power of appointment incident to a trust relationship is “in gross” or “collateral”: The practical...

Charles E. Rounds, Jr. - Suffolk University... on

Section 17.3, comment f, of the Restatement (Third) of Property (Wills and Other Donative Transfers) explains the difference between a collateral power of appointment and a power of appointment in gross: “In traditional...more

Husch Blackwell LLP

Options for Changing an Irrevocable Trust

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As its name implies, an irrevocable trust cannot be revoked by the person who establishes the trust. Typically, an irrevocable trust also cannot be changed by a trustee or beneficiary. The irrevocable nature makes the trust a...more

Dunlap Bennett & Ludwig PLLC

The Guardians Of A Trust: What Is A Trust Protector?

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What is a Trust? A Trust is a legal entity involving three roles: The Grantor or “Trustor”, the Trustee, and the Beneficiary. The Grantor (the creator of the trust) will give the Trustee the right to hold and manage property...more

Bowditch & Dewey

Beyond Taxes: 10 Important Reasons Why Everyone Needs an Estate Plan

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People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more

Lippes Mathias LLP

Hiring Counsel for Estate and Trust Administration Could Help You Avoid an Expensive Conflict

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Losing a family member or friend is a difficult situation for everyone. In 1969, the Swiss-American psychiatrist Elizabeth Kübler-Ross wrote in her book “On Death and Dying,” that grief could be divided into five stages:...more

Downey Brand LLP

Blast from the Past – Trusts Subject to Medi-Cal Reimbursement

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We begin the year with a case, Riverside County Public Guardian v. Snukst (2022) ___ Cal.App.5th ___, involving an elder with dementia who received Medi-Cal benefits. The case, a blast from the past, illustrates how the...more

Adler Pollock & Sheehan P.C.

You Can Relax if Your Estate Plan Includes a SPA Trust

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During times of economic and tax law uncertainty, the more flexible your estate plan, the better. As some parts of the country are rebounding economically from effects of the COVID-19 pandemic, other areas continue to...more

Adler Pollock & Sheehan P.C.

Protecting Business Wealth From Creditors

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If you’re a business owner, you’ve likely worked long and hard to achieve your goals. It would be a shame if creditors were able to reach your assets before you’ve transferred wealth to the younger generation. Fortunately,...more

Rosenberg Martin Greenberg LLP

Maryland Court of Appeals: Change of Beneficiary of Insurance Policy Is “Conveyance” Under Uniform Fraudulent Conveyance Act

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In a March 9, 2021 opinion, the Maryland Court of Appeals signaled the end of what it termed “an elaborate web of procedural history” by answering two questions certified to it by the United States District Court for the...more

Cohen Seglias Pallas Greenhall & Furman PC

Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce?

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Presented by Cohen Seglias Attorneys Brian Lawton and Whitney Patience O'Reilly on January 23, 2020. It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce? - January 23rd, 12:00...

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It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an asset protection plan, you could lose everything or a significant portion of what you have worked so...more

Downey Brand LLP

Beware of Dormant Creditor Claims in California Probate Cases

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California’s probate process aims to expeditiously identify and resolve the claims of creditors against decedents. Creditors who are unsophisticated, or who simply do not learn of the decedent’s passing, may find themselves...more

Chambliss, Bahner & Stophel, P.C.

What Happens to Your Debts When You Die?

Chambliss, Bahner & Stophel, P.C. on

When you die, your debts do not expire with you. Most debt still needs to be paid off, if possible. However, who is responsible for paying the debt depends on the type of debt, and some assets are protected from being used...more

Adler Pollock & Sheehan P.C.

Don’t be afraid of probate

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Probate. The word itself is enough to strike fear into the hearts of elderly individuals and their loved ones. It conjures images of lengthy delays waiting for wealth to be transferred and bitter disputes among family...more

Dentons

Handling Decedent's Property by Affidavit

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In March 2018, Governor Reynolds signed HF 2125 into law, with effective date, July 1, 2018. This law increases the limit of personal property that can be transferred after death using an affidavit....more

Adler Pollock & Sheehan P.C.

When should you turn down an inheritance?

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If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more

Downey Brand LLP

Take It or Leave It: The Perilous Decision of Whether to Violate a No Contest Clause

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One of the most dramatic areas of California trust and estate litigation is no contest clauses. No contest clauses bring a made-for-tv excitement to the practice of trust and estate law because of the risk of...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

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In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more

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