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Estate Planning › Trusts › Testamentary Trust

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

Winstead PC

Court Granted Motion To Abate A Suit To Remove A Trustee In District Court Because A First Filed Suit In A County Court At Law Had...

Winstead PC on

In In re Kelly, a former executor and the trustee of a testamentary trust initiated a probate proceeding in a county court at law. No. 11-24-00066-CV, 2024 Tex. App. LEXIS 3735 (Tex. App.—Eastland May 30, 2024, original...more

Allen Barron, Inc.

What do You Need to Know About A Trust and Why?

Allen Barron, Inc. on

Most US homeowners and business owners understand the importance of an estate plan; they just never seem to get around to completing the task. What do you need to know about a trust? Why are trusts a central component of any...more

Warner Norcross + Judd

Trusts 101: Living or Testamentary; Revocable or Irrevocable; Grantor and Non-Grantor – What Does All of This Mean?

Warner Norcross + Judd on

Trusts are described in multiple ways, including: living or testamentary, revocable or irrevocable and grantor or non-grantor. These terms are not always mutually exclusive. A trust can be living, revocable and a grantor...more

Adler Pollock & Sheehan P.C.

Comparing Inter Vivos and Testamentary Trusts

Adler Pollock & Sheehan P.C. on

Creating and adhering to an estate plan is no simple task. Generally, the end goal of estate planning is to divide up and transfer assets to loved ones at a minimum or zero tax cost. Of course, a will is a good starting...more

Chambliss, Bahner & Stophel, P.C.

How to Deal with an Estranged Child in Your Estate Plan

Chambliss, Bahner & Stophel, P.C. on

Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Estate Planning 101: Trust Planning for Novices - August 26th, 12:00 pm - 1:00 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on

In the next webinar in our Estate Planning 101 series, wealth preservation attorney Whitney Patience O’Reilly will discuss the basics of trusts. She will review the differences between revocable and irrevocable trusts and...more

Downey Brand LLP

Immortal Right — Income Beneficiary’s Entitlement to Accounting Continues after Death

Downey Brand LLP on

Many California trusts confer a lifetime right to income on a person (often the surviving spouse) with the remainder passing to designated survivors upon the income beneficiary’s death. When the income beneficiary dies, is it...more

Winstead PC

Court Held That The Issue Of Who Was Included In The Class Of Descendants Was Not Ripe Until The Current Beneficiary Dies

Winstead PC on

In Ackers v. Comerica Bank & Trust, N.A., an income beneficiary sued a trustee for a declaration regarding the construction of a testamentary trust. No. 11-18-00352-CV, 2020 Tex. App. LEXIS 10442 (Tex. App.—Eastland December...more

Winstead PC

Court Holds That A Deceased Testamentary Trust Beneficiary Can Still Be A Beneficiary

Winstead PC on

In In the Estate of Mendoza, a decedent’s son’s children filed a petition claiming their entitlement to their father’s beneficial interest in a trust created under the decedent’s will. No. 04-19-00129-CV, 2020 Tex. App. LEXIS...more

Smith Debnam Narron Drake Saintsing & Myers,...

Using Trusts to Avoid Leaving Assets to Your Son-in-Law or Daughter-in-Law

Smith Debnam Narron Drake Saintsing & Myers,... on

While you may love your son-in-law or daughter-in-law, you may not necessarily want to pass your assets to them that your child inherited from you but then subsequently died. Many people have reservations about this scenario....more

Mitchell, Williams, Selig, Gates & Woodyard,...

New PLR Addresses Special Trustee's Power to Limit or Eliminate Testamentary General Power of Appointment

Mitchell, Williams, Selig, Gates & Woodyard,... on

IRS Rules Appointment of Special Trustee and Special Trustee’s Subsequent Exercise of Power to Limit or Eliminate Trust Beneficiary’s Testamentary General Power of Appointment Will Not Constitute Exercise or Release for...more

Smith Debnam Narron Drake Saintsing & Myers,...

It’s All About Trust

Smith Debnam Narron Drake Saintsing & Myers,... on

Trusts are popular estate planning tools people use for a variety of reasons including providing for the long-term management of assets for minor beneficiaries, people with disabilities, or financially irresponsible adults....more

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