Is Dispute Inevitable When Two Children are Named as Co-Trustees?
MAY 18, 2015 VOLUME 22 NUMBER 19 So often our clients assure us that their children are different from other children. Our clients know that their children will fundamentally get along. They are sure that there will be no big problems when they die, and that the children will communicate and cooperate. Fortunately, that turns […]
Financial Exploitation Case Leads to Judgment, Disinheritance
MARCH 2, 2015 VOLUME 22 NUMBER 9 We hear variations on this same story once every week or so. Dad (it might be Mom, or Aunt Bridget, or a long-time family friend) seemed to be adrift after his wife (her husband, her long-time companion) died. Then he met this woman who moved in with him […]
Court Rejects Challenge to Living Trust After Settlor’s Death
FEBRUARY 16, 2015 VOLUME 22 NUMBER 7 Jessica Waltham (not her real name) died tragically in 2012, when her home south of Tucson burned down. She left a small estate, three sons and a bubbling dispute over the validity of her living trust. Jessica had first signed a living trust in 2000. She titled her […]
“No-Contest” Clause in Trust Can Be As Effective As Will Provision
JANUARY 19, 2015 VOLUME 22 NUMBER 3 When we prepare wills and/or trusts for our clients, they often ask if they should include a “no-contest” provision. Typically, they want us to add language that would penalize anyone who challenges the validity of their estate planning documents. Are such provisions effective, or even permitted? We explain […]
Assets Not Held As Part of Trust Pass to Different Successors
DECEMBER 15, 2014 VOLUME 21 NUMBER 45 From time to time we see appellate court decisions dealing with a common estate planning problem: after creation of a trust, changing title to assets is an essential element of completing the estate plan. Once in a while, as appears to be the case in this week’s court […]
Does Your Personal Property Belong to Your Living Trust?
JULY 21, 2014 VOLUME 21 NUMBER 26 When you create a revocable living trust, you usually want to transfer most (maybe even all) of your assets to the trust — especially if one of the reasons for creating the trust is to avoid the probate process. A new deed to your home, a change in […]
Agent On Power of Attorney is Personally Liable for Legal Fees
MARCH 3, 2014 VOLUME 21 NUMBER 9 Let’s say that Billy signs a power of attorney, naming his friend Joyce as his agent. Later Billy becomes incapacitated, and his agent needs legal advice about her rights and responsibilities. Who will pay for their legal advice? Generally speaking, you are not supposed to have to spend […]
Trust for Surviving Spouse Leads to Dispute With Stepchildren
FEBRUARY 17, 2014 VOLUME 21 NUMBER 7 When Albert Findlay (not his real name) died in 2002, he left a trust for the benefit of his wife Sharon. Sharon was named as trustee, and the trust document directed that she was to receive “the entire net income” from the trust for the rest of her […]
Exploitation of Vulnerable Senior Leads to Disinheritance
JANUARY 27, 2014 VOLUME 21 NUMBER 4 Arizona has a relatively strong statute dealing with exploitation of vulnerable adults. An exploiter can be charged criminally, and might receive a longer sentence or larger fine because of the victim’s vulnerability. But the strongest part of the Arizona law is probably the provision that lets the victim […]
Determining Which Court Has Jurisdiction Over Your Trust
JANUARY 13, 2014 VOLUME 21 NUMBER 2 In the past four or five decades there has been a tremendous growth in the use of trusts (usually, but not always, revocable living trusts) for estate planning purposes. Once very rare, they are now very popular. Perhaps as many as half of our estate planning clients choose […]
