Surety Bond Protects Estate, not Fiduciary
Most people are unfamiliar with the term “surety bond”, and may never have run across the concept. When a court appoints someone to manage another person’s money, a surety bond is often involved. Different kinds of fiduciaries Depending on the context, a court might appoint a conservator to handle the estate of someone who is […]
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 […]
More Definitions for Estate Planning Terms
FEBRUARY 10, 2014 VOLUME 21 NUMBER 6 Last week we gave you short definitions of some common estate planning terms, like “will” (and “pourover will”), “trust” (including both “living” and “testamentary” trust), “grantor trust” and more. This week we want to continue that project with another batch of common terms: Durable power of attorney — […]
Finders Keepers? Losers Weepers?
JUNE 4, 2012 VOLUME 19 NUMBER 22 Richard Scott (not his real name) had a propensity to hide things away. His children knew that, and they knew that when he died they would have to go on a treasure hunt — literally for treasure. Mr. Scott lived in the same house in Paradise Valley, Arizona, […]
Lifetime Asset Transfers Voided Based on Agreement to Make Will
MAY 7, 2012 VOLUME 19 NUMBER 18 We have written about contracts to make (or not to revoke) a will before. The question comes up infrequently, and usually only in a handful of ways: can you and your spouse make an enforceable agreement that you will leave your respective estates to, say, your children no […]
How To Avoid Probate — And What Doesn’t
APRIL 23, 2012 VOLUME 19 NUMBER 16 Let us try to demystify probate avoidance for a moment. Note that for the purposes of this description, we are not going to argue with you about whether avoidance of probate is good, bad, desirable or a foolish goal — we start here with the assumption that probate […]
Lawyer’s Move From Representing Widow to Estate is Problematic
OCTOBER 31, 2011 VOLUME 18 NUMBER 37 Floyd Spence, a Republican Congressman from South Carolina, was a long-time survivor of a heart-lung transplant and a (separate) kidney transplant when he died in 2001, at the age of 73. He was survived by his second wife, Deborah Spence, and four adult sons from his first marriage […]
If You Were the Probate Judge, What Would You Decide?
MAY 9, 2011 VOLUME 18 NUMBER 17 Let us give you some insight into how hard it can be to figure out how to interpret estate planning documents. At the same time we hope to explain why it is important to keep your own estate plan up to date. Timothy M. Donovan was a successful […]
Even With a Will the Probate Court May Need to Interpret
NOVEMBER 15, 2010 VOLUME 17 NUMBER 36 When we help you plan your estate our goal is to figure out who you would want to be in charge of your finances and personal affairs, who should receive your assets and in what proportion, and what you want done at a future time when you are […]
What is the Value of a Senior’s Life?
SEPTEMBER 6, 2010 VOLUME 17 NUMBER 28 The question addressed in a ruling last month by the Arizona Court of Appeals seems provocative. In a lawsuit based on the Arizona law prohibiting abuse, neglect or exploitation of vulnerable adults, does the very life of the abused senior have any intrinsic value? The Court’s answer: perhaps, […]
Illegitimate Son Of Long-Dead Blues Singer Receives Royalties
JUNE 26, 2000 VOLUME 7, NUMBER 52 When Robert L. Johnson died in Mississippi in 1938, he was largely unknown. The 27-year-old had a musical gift, and he left a number of blues recordings. There did not appear to be any valuable property in his estate at the time, though, so no probate was initiated. […]
Trial Court Must Decide If Deed Obtained By Undue Influence
MARCH 13, 2000 VOLUME 7, NUMBER 37 “Undue influence” is usually thought of in connection with provisions in a will. It can also be cited in attempts to set aside transfers made during life, as a recent North Carolina case illustrates. In early 1996 Irene J. Stephenson signed a deed conveying her home and sixteen […]
