Once Removed Episode 24: Expressing Goals and Intent for the Trust
The Case of the Disappearing Trust
An Executor’s Guide to Administering an Estate
Equity’s maxims have many jurisprudential functions, one critical function being to sinew the equitable principles that regulate the law of trusts. A court that is saddled with sorting out the rights, duties and obligations...more
For parents with young children, naming the guardian who will raise their children upon the parents’ passing can be one of the most important and foundational questions of an estate plan. And in fact, because this decision is...more
In In re Poe Trust, a co-trustee of a trust filed suit to modify the trust to change distribution provisions, increase the number of trustees, and change the method for trustees to vote on issues as well as other...more
In Frank v. Frank, co-trustees filed suit in federal court seeking declarations regarding their authority and potential liabilities. No. 3:22-cv-01757-M, 2023 U.S. Dist. LEXIS 226439 (N.D. Tex. December 20, 2023)....more
There are a number of considerations to make when deciding whether to proceed with a Will-based estate plan or a trust-based estate plan. First, as a general matter, there are two ways in which your estate can be distributed...more
In Arkansas, estate planning is vital. By understanding the tools at residents’ disposal, such as wills and trusts, Arkansans can ensure the security of their assets, provide for their loved ones, and leave a lasting legacy...more
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
Maybe a friend or a relative has recently passed away and you just received a communication informing you that you have been named as a trustee. You have no idea what this role entails, and you feel overwhelmed having no...more
If you have been named as the trustee of a trust, you may be wondering what your responsibilities are and how you can fulfill them. This article offers an overview of trustee duties and highlights the legal risks of serving...more
Many trusts are established with the goal of protecting assets and ensuring the longevity of those assets for future generations. A trustee then may wonder if they have the authority to withhold money from a beneficiary who...more
Things change; a periodic review of your estate plan is an important part of plan maintenance. Your basic estate plan (will, trust, powers of attorney, etc.) can be amended whenever necessary. It’s important to consider your...more
David F. Johnson presented to the Tarrant County Probate Bar Association on May 4, 2023, on the topic of “Trust Issues in Divorce Proceedings.” This program discussed some of the many trust issues that arise in divorce...more
The Texas Supreme Court held that arbitration clauses in trust documents may be enforced regarding claims by beneficiaries against trustees. In Rachal v. Reitz, a beneficiary sued a trustee for failing to provide an...more
A friend, family member, or client has just created an irrevocable trust naming you as the trustee, and you may be asking yourself, “What do I do now?” Serving as a trustee comes with a lot of responsibility. Here are a few...more
Elvis Has Left the Building - In 1977, when Elvis Presley died (to put a complicated situation very simply), his estate and any future royalties generated by his intellectual property, including his music, passed into a...more
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
On January 12, 2023, the Michigan Court of Appeals issued its decision in In re Claeys Revocable Living Trust, 2023 Westlaw 175242, No 360054 (Mich Ct App Jan 12 2023), which considered whether a trust beneficiary was...more
2022 saw a number of changes to legislation affecting trust and estate planning and administration, including some revisions to tax guidelines. In this webinar, Whitney O’Reilly will recap key updates from the previous year,...more
Join us for an interactive two-day webinar that will focus on the multifaceted issues impacting fiduciaries and beneficiaries. We’ll highlight hot topics in the administration of trusts and estates, and we’ll discuss how to...more
When we take seemingly mundane tasks and turn them into a game – like who can pick up the toys on the floor the fastest – those tasks suddenly become more fun and easier to accomplish. The gamification process works so well...more
This presentation covers trust issues that arise in divorce disputes, such as spouses creating an irrevocable trust, fraud claims to void a trust, conflict of interest issues raised by the same attorney drafting both spouse’s...more
When a family member or friend asks you to become their trustee, it conveys a high level of trust in you. However, many of our clients tell us that they did not fully understand the enormity of the job when they accepted it....more
Sanford Babbitt, Charlie Babbitt’s estranged father, died. Charlie returns home and finds out he is only receiving a car and prize-winning roses, and that all of his father’s other assets have been left in trust for the...more
Lowenstein Sandler lawyer Joseph Romano and investment advisor Julie Jackson discuss creating, managing, and investing trusts, plus how to keep a child with a trust from turning into a trust fund baby. Speakers: Warren...more