Operation of Joint Tenancy Defeats Creditor’s Claim
Most people understand the concept of joint tenancy ownership. But the operation of joint tenancy in specific facts may be counterintuitive. Last week we read an Illinois case that pointed out that joint tenancy is not just joint ownership of property. The life of a joint tenant Victor Barcroft lived in Lake County, Illinois, where […]
Estate Planning is a Process, Not a Binder of Forms
JANUARY 23, 2017 VOLUME 24 NUMBER 4 There really is no question that it is important for almost every adult to have a will, and to consider signing both financial and health care powers of attorney. That is what we mean by “estate planning,” and it is important to go through the process of preparing […]
Two Adult Adoptions Lead to Uncertain Inheritance Outcomes
JANUARY 2, 2017 VOLUME 24 NUMBER 1 You probably know that it’s possible — though state laws vary quite a bit — to adopt an adult. But have you given any thought to what effect the adoption might have on inheritance rights? That’s the sort of problem that gets lawyers (and judges) excited. Two recent […]
How to Get in Trouble for Your Handling of Your Child’s Money
JULY 6, 2015 VOLUME 22 NUMBER 25 Management of a trust can be difficult, and the responsibilities imposed on a trustee can be considerable. Sometimes that last part is not obvious, since trusts are often unsupervised — that is, no court is involved in the handling of most trusts, and there is no “trust cop” […]
Protecting Clients From Their Own Mistakes Can Be A Challenge
DECEMBER 14 , 2009 VOLUME 16, NUMBER 64 Preparation of an estate plan is more than the individual documents. A good attorney considers the client’s circumstances and wishes, and analyzes the best course of action. The process requires the attorney and the client to communicate, and to work together. Too often, however, problems arise after […]
