What Happens in a Guardianship or Conservatorship?
March 24, 2017Guardianship or Conservatorship What Do They Do? Guardianships and conservatorships are both court-ordered requests. When a loved one can no longer care for themselves a family member will hire an attorney to discuss options. The attorney helps the family ask the court to appoint a guardian or conservator when their loved one can no longer… Read more »
What is “Living Probate?”
March 22, 2017Explaining living probate: Living Probate is a term used to describe what happens to those who become mentally incapacitated without proper planning in place. Living probate is the legal proceeding required to put a guardianship in place for a person who can no longer manage his own affairs or make decisions about his care. If a… Read more »
How Can I Use a Living Trust to Plan for my Possible Disability?
March 20, 2017One of the most important reasons for having a revocable living trust is to plan for a possible incapacity. With improvements in health care and lifestyle, more people are living longer. With this increase in lifespan, the likelihood of becoming incapacitated some time before death is greater than ever. The most important part of estate… Read more »
Should I Name a Family Member as My Trustee?
March 16, 2017Family Member as Trustee Choosing a trustee is crucial whether establishing a new trust, modifying an existing trust or dealing with a transition of the incumbent trustee. Selecting the person or institution who will act as your trustee is one of the most important decisions you and your family will make. Naming a family member… Read more »
What are the Advantages of Using a Corporate Trustee?
March 14, 2017Using a Corporate Trustee A corporate fiduciary manages trusts professionally every day. They have experience in the area, and they know what they are doing. They act very objectively to follow the instructions set forth in the trust document. They have investment experience and record-keeping skills. They know the law, and follow the prudent investor… Read more »
Who Should I Select as Trustee of My Trust?
March 10, 2017How To Selecting Someone as Trustee of Your Trust What is a Trustee and How do you Choose One? Select as trustee anyone you feel can do the job. But how do you figure that out. Having someone to manage your estate when you are gone is an important decision, and one that should not… Read more »
What Happens if My Trustee Fails to Follow the Terms of My Trust?
March 08, 2017What Would Happen if My Trustee Doesn’t Carry Out Their Duties? If a trustee fails to follow a court order requiring compliance, the court could hold the trustee in contempt. Continued noncompliance may also support the trustee’s suspension or removal. During trust administration, a trustee’s failure to comply with the trust terms is one reason… Read more »
What are the Primary Duties of A Trustee?
March 06, 2017I’ve Been Named as a Trustee – What are the Duties of a Trustee? If you have been named as a Trustee, someone else has decided that you are the person they most trust to manage the financial affairs of their Trust. What is a Trustee and what are your duties and responsibilities? The simple… Read more »
Who are Trustees, and What Do They Do?
March 02, 2017Name a Trustee you Say? Trustees are those individuals or entities named in a trust agreement to administer the trust. Trustees are required to manage and invest trust property. They also distribute the trust property to certain individuals (the beneficiaries) based upon the instructions contained in the trust. Trusts often last for years or even… Read more »
I’ve Been Told That Even if I Plan with a Revocable Living Trust, I’ll Still Need Something Called a Pour-Over Will. What is That?
February 28, 2017Questions about Revocable Living Trust I’ve Been Told That Even if I Plan with a Revocable Living Trust, I’ll Still Need a Pour-Over Will. The Pour-Over Will serves as a safeguard in case an asset gets left outside of your trust. It’s not uncommon to find that in the process of funding a trust (changing… Read more »