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Estate Planning 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 -
Carey Olsen

A guide to blockchain and cryptocurrency regulation 2024: British Virgin Islands (GLI chapter)

Carey Olsen on

Chris Duncan and Katrina Lindsay have authored the British Virgin Islands (BVI) chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the BVI legal requirements...more

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

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

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

Fleurinord Law PLLC

How Irrevocable Trusts Can Protect Assets from Bankruptcy & Divorce in Florida

Fleurinord Law PLLC on

In the complex world of estate planning, irrevocable trusts offer a robust mechanism for protecting assets from various threats, including bankruptcy and divorce. This article delves into the specific protections offered by...more

Lasher Holzapfel Sperry & Ebberson PLLC

Estate Planning for Your Pets

When preparing your estate plan there are a number of things to consider including how to provide for your pets who are an important part of your life and ensuring that they are taken care of after your passing. There are a...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

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

In the case of a donative transfer in irrevocable inter vivos trust, it is not the trustee who is the donee of the gift

In International Rescue Committee v. Trustee of the Wylie Street Emergency Fund, 537 P.3d 30 (2023), the Supreme Court of Idaho cited Black’s Law Dictionary (11th ed. 2019) as authority for the proposition that “a person can...more

Warner Norcross + Judd

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

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

Dunlap Bennett & Ludwig PLLC

What Happens To A Person’s Assets Upon Their Death

Dealing with the death of a family member or close friend can be a very difficult and daunting task. Knowing what to expect can make the process seem less overwhelming and less stressful. After handling funeral arrangements,...more

Adler Pollock & Sheehan P.C.

Comparing Inter Vivos and Testamentary Trusts

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.

What Are the Benefits of Having a Testamentary Trust?

There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan....more

Chambliss, Bahner & Stophel, P.C.

How to Deal with an Estranged Child in Your Estate Plan

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

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

Winstead PC

Court Holds That A Testamentary Trust Did Not Fail Because The Primary Beneficiary Predeceased The Decedent

Winstead PC on

In In re Estate of Moore, a decedent executed a will that provided that the residuary of his estate would be held in trust for his mother, and such trust would terminate on her death with the assets then passing to certain...more

Smith Debnam Narron Drake Saintsing & Myers,...

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

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

Adler Pollock & Sheehan P.C.

Don’t be afraid of probate

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

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

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

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

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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